The aim of this measure is to finance innovative undertakings that demonstrate a viable business concept in the setting-up and initial growth phases.
This incentive is targeting “Small Start-ups”, defined as an unlisted small undertaking that has been established for less than 5 years and which has not yet distributed profits and has not formed through a merger, which is engaged in one of the following activities:
- Manufacturing including the Manufacture of Gas;
- Information Technology, Digital Media and Communications;
- Research, Development and Technical Innovation;
- Industrial and Product design;
- Biotechnology, Pharmaceuticals and Life Sciences;
- Audiovisual and creative media investment in facilities (Sound Studio)
The scheme supports small start-up undertakings with a repayable assistance which may be based on the parameters established below.
- Support as co-investment linked to private equity- repayable assistance equivalent to the value of which may be established by considering the private equity held in the company. The total value of funding may not exceed the nominal value of paid up share capital held by private parties or €200,000 (whichever is the lowest);
- Support for the procurement of tangible assets - repayable assistance which will enable the beneficiary to fund approved tangible assets. Any machinery or equipment supported through this incentive must be new or first time used in Malta. The maximum amount of assistance may not exceed €200,000;
- Support linked to Crowdfunding - repayable assistance up to a maximum of €50,000 in support of a pre-approved crowdfunding campaign. The funding may not exceed the amount requested through the crowdfunding campaign. The beneficiary must indicate on the crowdfunding platform page that the project has received support by Malta Enterprise. Funds will only be made available if the crowdfunding campaign is successful. A company may request support for multiple crowdfunding campaigns, yet the repayable assistance under this provision shall be limited to € 100,000
This incentive shall be available until the 31st December 2020. In order for a small start-up undertaking to be considered for support, the applicant shall be required to submit the following documentation within 36 months from the start-up date:
- the application form filled in electronically
- a Business Plan
For more information, visit the Malte Enterprise website at the following link: https://www.maltaenterprise.com/support/start-finance-2017-2020