By means of Legal Notice 55 of 2024, the Government of Malta has published new rules to aid small start-up undertakings. Such rules came into effect on the 1stt January 2024. Malta Enterprise has also published guidelines to establish the parameters of implementing the aid granted by virtue of these regulations.
A start-up undertaking shall be considered as eligible for aid in the form of repayable advances if it is, or shall be engaged in one or more of the activities defined in the Guidelines.
A project may be considered as eligible for aid if it satisfies two of the following criteria:
a) proposes products and, or services that have the potential to generate income from various geographical markets
b) produces products and, or services which are new or substantially improved compared to complementary products on the market
c) utilises processes which are new or substantially improved compared to those adopted in current complementary activities.
Malta Enterprise may support eligible undertakings by providing aid in the form of a repayable advance as prescribed in the Guidelines. The aid provided shall not exceed €500,000 which may be increased to €750,000 in the case of a start-up undertaking operating from certain assisted areas as identified in the Guidelines. The aid may be doubled to €1,000,000 and to €1,500,000 respectively if the start-up is also an innovative enterprise.
Start-up undertakings shall be considered as eligible if they are, or shall be engaged in one or more of the following activities:
a) Manufacturing;
b) Software development
c) Industrial services analogous to manufacturing
d) Health, Biotechnology, Pharmaceuticals and Life Sciences
e) Other innovative economic activities which are enabled through knowledge and technology providing services or products which are currently not readily available in the relevant market or which shall be provided through a process which is novel.
Undertakings that are also engaged in any of the following activities shall also be disqualified:
- Real estate
- Gambling
- Wholesale or retail trade of goods or services to which the eligible undertaking has no added value in the carrying out of his economic activity.
No further applications shall be accepted by Malta Enterprise after the 31st December 2026.
If you need any help or assistance with the above-mentioned, please do not hesitate to contact us on [email protected]
