When an aspiring entrepreneur has a great idea and is 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 his empire, he will also need cold hard cash in order to turn his dream into reality. This is where the incentives from Malta Enterprise can save the day. People who can demonstrate that a business idea is viable and show commitment towards growth, then it can benefit from the incentives offered by Malta Enterprise with the “Start-up Finance” scheme.
The aim of this measure is to support Small Start-up Undertakings that demonstrate a viable business concept and that exhibit commitment to expand and further develop their economic activity. 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 Start-up 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.
Through this new scheme, Malta Enterprise will provide support linked to private equity, wage costs, procurement of tangible & intangible assets, working capital, crowdfunding and the participation in a recognised Start-up Accelerator programme.
The support, with the exception of a onetime Accelerator Grant shall be awarded as a repayable advance in accordance with the rules provided in these Incentive Guidelines.
This incentive shall be available until the 31st December 2022.
To apply for funding ask the Malta Business Agency team for advice by filling out the form below.