INNOVATE - Innovation Aid for Small and Medium Sized Enterprises (SMEs)

On 18 January 2024, Malta Enterprise published a new set of guidelines for the INNOVATE - Innovation Aid for Small and Medium Sized Enterprises (SMEs) Scheme, which measure will be open until 30 October 2026.

Innovate aims to support SMEs in carrying out projects leading to product, process and organisational innovation through collaboration with Research & Knowledge-dissemination Organisation or through innovation advisory services through funding for the secondment of Highly Qualified Personnel, and access to innovation advisory and support services.

The scheme facilitates access to expertise and the generation of new knowledge thus achieving the scope of accelerating innovation, enhancing business performance and driving competitive advantage.

Who is eligible for this scheme?

This scheme is open for small or medium-sized enterprises with a scope for growth. They must not be in default on income tax, vat and social security payments and must not be considered as undertakings in difficulty.

What costs are eligible under this scheme?

This measure supports innovation actions that are expected to lead to the creation, development and implementation of a new product, process or service, with the aim of improving efficiency, effectiveness or competitive advantage and/or the development of more sustainable products and services. These include:

  • Wage Costs of highly qualified personnel seconded from a Research and knowledge-dissemination organisation
  • Innovation Advisory Services
  • Innovation Support Services

How is assistance granted?

Assistance is provided in the form of a grant covering up to 50% of costs, capped at €250,000