Malta Enterprise has announced the initiation of grant schemes which are aimed at supporting owners of small businesses with a view to create more jobs. Following previous calls on the strength of which €35 million were allocated to 570 businesses for a total investment of €80 million, the total allocation under this new call will amount to €8.5 million and will be financed through the European Regional Development Fund (ERDF). The following are ERDF schemes for which applications are being considered: International Competitiveness; Small Start-Up; Innovation; Environment; Research and Development.
The international competitiveness grant scheme, aimed at supporting enterprises which are willing to establish new markets or to introduce new services or products in existing international markets, seeks to facilitate the building of internal capacities within a business with a view to encourage more enterprises to internationalise.
Aid intensity for products supported under this incentive scheme is set at 50 per cent of eligible costs in relation to items of expenditure incurred for market development, the engagement of a Business Development Manager and active participation in International trade events. The small start-up grant scheme is intended to support the growth of new businesses employing less than 50 persons. Furthermore, on the strength of this scheme, at least 25 per cent of wage costs, utilities and rent/leasing of equipment and production facilities for start-ups which have been operating for less than three years will be reimbursed.
The innovation grant scheme, which aims to support small and medium-sized enterprises in meeting contemporary business challenges by stimulating the development and adoption of innovative processes, products and services, will co-finance investment costs and sub-contracted services acquired for implementing an Innovation Management Technique (IMT).
The environment grant scheme aims to assist SMEs in investing in eco-innovation solutions which support long term competitiveness and contribute to environmentally-sustainable business activities by addressing problems related to water and air quality, waste streams and resource utilisation. Co-financing under this scheme will cover plant, machinery and equipment and certification costs.
The research and development grant scheme seeks to assist businesses in meeting today’s business challenges by supporting them in carrying out research and experimental development activities leading to the development of new or significantly improved products, processes and services. Under this grant scheme, the cost of wages, equipment, materials and contractual research specifically incurred as part of a research project will be co-financed.
More information about these schemes can be obtained from Malta Enterprise or by visiting http://www.20millionforindustry.com
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