So, you have a great idea and are ready to turn it into a business venture. While studying the market and drafting plans are an essential first step on the road to building your empire, you will also need cold hard cash in order to turn your dream into reality.
It’s easy to assume that everyone will be able to see the potential of your business idea, especially those closest to you. And while the support of family and friends can give you the motivation to persist in following your dreams, it is wise to avoid that support being monetary in nature. The last thing you want is for your relationships to go sour if your business plans don’t work out.
This is where the incentives from Malta Enterprise can save the day. If you can demonstrate that your business idea is viable and show commitment towards growth, then it can benefit from the incentives offered by Malta Enterprise. Malta Enterprise may provide support not exceeding four hundred thousand Euro (€400,000), which may be increased to up to eight hundred thousand Euro (€800,000) if the Startup is an Innovative Enterprise.
Scheme offers a seed growth funding to small startups having innovative and feasible idea/project.
Assistance may not exceed €400,000, which may be increased to up to €800,000 if the startup is an innovative enterprise.
Assistance linked to working capital, the corporation may provide a repayable advance of up to €200,000 to the small startup undertakings that propose a viable business which may be increased to up to €400,000 if the startup is an innovative enterprise.
The products and/or services must be new or substantially improved compared to the state of the art in the local industry and must have the potential to be marketed and distributed internationally.
The assistance is linked to private equity, wages, working capital, tangible & intangible assets, crowdfunding and one time accelerator grant.
Scheme is open to the following legal forms of undertakings: self-employed, partnerships, limited liability companies, and cooperatives.
The application must be submitted withing sixty (60) months from the start-up date.
The incentive is available untill December 31st, 2022.