New EU-funded grant schemes have been launched to support business growth and drive digital transformation in Malta and Gozo. These initiatives include:
- Digitalise your SME
- Digitalise your Large Business
- SME Enhance
These schemes streamline support for businesses looking to invest in innovation, digital solutions and growth initiatives. Applications will be managed through public open rolling calls with periodic cut-off dates, ensuring continuous access to support.
Digitalise your SME and Digitalise your Large Business Schemes
These schemes offer financial assistance to Micro, Small and Medium Enterprises (SMEs), as well as Large Enterprises, aiming to implement digital solutions. The funding covers various technologies, including digital tools, AI-driven solutions, software, hardware, Internet of Things (IoT) and cybersecurity, all of which shall be aimed to enhance efficiency, productivity or customer experience.
Grants range from €10,000 to €128,400, including a 7% flat rate applied to cover indirect costs. The co-financing rate is 50% for investments in Malta and 60% for investments in Gozo, with Start-ups benefiting from higher rates of 60% and 70%, respectively.
SME Enhance Scheme
This Scheme provides non-repayable grants to Micro, SMEs and start-ups in Malta and Gozo. It supports investments in tangible and intangible assets, including machinery, equipment and innovation-driven improvements to help businesses scale up and enhance their productivity.
Grants range from €10,000 to €128,400, covering up to 50% of eligible costs – which is increased to 60% for businesses based in Gozo and 70% for Start-ups.
Extended Support Schemes
The Measures and Support Division has also extended other EU-funded schemes with few changes from the previous guidelines:
- Digitalise your Micro Business: Offers financial support for micro businesses looking to adopt digital technologies to improve their operations and enhance overall efficiency.
- Business Reports for SMEs: Provides funding for SMEs to engage external consultants for the development of a Business Plan or the performance of a Process and System Review to support their strategic decision-making.
- Retrofit Scheme: Assists businesses in upgrading their premises with energy-efficient solutions to reduce their operational costs and enhance sustainability.
- Feasibility Study Scheme: Part-finances research-related costs to evaluate the feasibility and sustainability of a proposed business idea or expansion prior to making significant investments.
Our experienced team can guide you through the entire funding process; from assessing your eligibility to offering full support throughout the application process. We also oversee that the project is implemented in accordance with the conditions outlined in the grant agreement and assist during the reimbursement phase; allowing you to focus on achieving your business objectives.
Feel free to reach out to us for assistance.
Kris Bartolo
Partner
