Malta Enterprise recognizes innovative start-ups and is offering a grant of up to €10,000 to those still in their early development phase without a formal business plan. For businesses with existing plans that display economic viability, Malta Enterprise can provide an even greater incentive of up to €200,000 until December 31st, 2023. This can take your business concept to the next level, and we can help you with the company registration in Malta!
A project may be eligible for assistance if it meets two of the following qualifications:
The proposed products and/or services have the potential to bring in revenue from multiple regions;
The applicant creates or intends to create products that are either new or significantly enhanced compared to existing products on the market, or offers or intends to offer services that are novel or greatly improved compared to existing services available;
The applicant must use processes which are fresh or drastically upgraded compared to those adopted in analogous operations.
Aid under this scheme is capped at a maximum of €200,000 and is disbursed between two stages:
Start-ups and self-employed individuals can benefit from Pre-Business Plan Support during their early development phase. This support grants up to €10,000 to help create a business concept. Additionally, businesses may be eligible for a reimbursement of 50% of costs associated with mentoring or advisory services up to €5,000.
Post-Business Plan Support is available for start-up companies that have created a viable business plan. For each quarter of full time employment, businesses may receive up to €20,000 in funding which can also be utilized towards procuring assets needed for the company’s operations with an additional €5,000 available.
The scheme closes on 31 December 2023 and application forms should reach MEC by 31 October 2023. You can apply for this programme online, and we can assist you with company registration in Malta. Learn more about company formation in Malta on our website.