Malta Enterprise recently issued two new funding schemes available for SMEs and aimed at supporting businesses financially to further encourage growth and innovation.
1. Changes in B. Start Scheme
Through Business Start, Malta Enterprise launched this new scheme to provide start-ups with seed and growth funding in the form of cash grants of up to €10,000. This supports companies with their preliminary business plans and can be entitled to an advance payment of up to €4,000 to help with the development of the business concept and with carrying out feasibility studies, an additional €4,000 which can be claimed to reimburse other costs incurred during the process and a final €2,000 when the business plan is finalized and submitted.
Businesses with an already viable business plan can then receive support of up to €20,000 per quarter linked to full-time employment, with €5,000 of this sum able to be used for funding the purchasing of assets needed for business operations.
2. INNOVATE – A new scheme for SMEs
This scheme is aimed at supporting SMEs with achieving product, process or organisational innovation by funding projects carried out in collaboration with Research and Knowledge Dissemination Organisations (Universities). Funding can be used to cover the endorsements of a highly qualified person, and/or innovation advisory or innovation support services, with up to 50% of the eligible costs of up to €100,000.
Malta Enterprise is committed to helping SMEs improve their competitive edge and achieve growth and success within their market.
For more information on how you and your business can benefit from the newly announced schemes, contact us on email@example.com.