Start-up Investment Grant Scheme
BUDGET - € 7 MILLION
MAXIMUM GRANT €300,000, PART-FINANCING 50% OF ELIGIBLE EXPENDITURE
In recent years, SMEs in the Maltese economy increased by approximately 20%. Notwithstanding, fostering an entrepreneurial culture and the creation of start-ups is still a significant challenge. Ensuring that this momentum is sustained and gains speed is a priority in order to foster a competitive and sustainable economy that is resilient to meet upcoming challenges.
By their very nature, through their novelty, start-ups offer just as many challenges and risks as rewards and opportunities. As part of the normal dynamics of a healthy economy, only 50% of businesses survive five years after their inception.
This, together with the potential welfare gains to the economy that can accrue from nurturing an environment that supports start-ups, further instigates the need for tangible assistance to start-ups at an early stage.
This Grant Scheme seeks to assist start-ups, engaged in one of the following activities, to part-finance their initial productive investment in Tangible and Intangible assets, in line with a business plan, to implement their business growth strategies:
· The production, manufacture, improvement, assembly, preservation, processing of goods, materials, commodities, equipment, plant machinery;
· Biotechnology, Pharmaceuticals and Life Sciences;
· Research and Technological Innovation;
· The repair, overhaul or maintenance of pleasure crafts, yachts having less than 100gt, aircraft, engines or equipment incorporated or used in such vessels or aircraft;
· Information and communication technology (ICT) development activities, software development;
· Eco-innovations, and environmental solutions;
· The creation of tourism products and services as a result of networks created between traditional tourism service providers and the crafts and artisan sector;
· The development and provision of tourism products and services related to emerging niche markets;
· The development and provision of tourism products and services related to the promotion of natural and cultural heritage;
· The development and provision of tourism products and services relating to social tourism with specific focus on senior tourists, accessible tourism and active ageing;
· The development of innovative concepts, products and services offered by Boutique Hotels and Palazzini;
· The development, and/or provision of E-health solutions;
· The development and provision of services and products promoting healthy living;
· The development and provision of services and products promoting active ageing;
· The development and provision of services and products related to child-day care;
· The development and creation of crafts and artisan products;
· Retail activities by self-employed and family businesses engaged in craft;
· Start-ups proposing products and/or services that can be marketed and distributed internationally and which are typically more advanced than those prevailing in their respective industry in terms of technology, know-how and skills.