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SME Diversification & Innovation Grant Scheme in Malta

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SME-Diversification-and-Innovation-Grant-Scheme-1MAXIMUM GRANT €200,000, PART-FINANCING 50% OF ELIGIBLE EXPENDITURE

This Grant Scheme aims to incentivise SMEs to adapt and become more resilient and address market challenges whilst offering timely support to nurture the right environment towards the potential future business growth of the enterprise.

Target Group

  • Micro Enterprises
  • Small Enterprises
  • Medium-sized Enterprises

The need to ensure that SMEs sustain a high level of resilience through their ability to adapt rapidly to market requirements, innovate and keep up a steady investment momentum is crucial to Malta’s macro-economic and competitive performance.

Diversification and innovation are key to the survival of enterprises as such timely realisation and intervention can avoid dire consequences leading to eventual closure or bankruptcy, and enables the enterprise turnaround.

In this context, such interventions become even more important when considering businesses facing difficulty emanating through particular challenges in their operations, primarily arising from market saturation, and the need for innovation to nurture a sustainable and competitive economic activity.

Eligible Actions

Investment in Tangible and Intangible assets related to the implementation of focused strategies resulting in:

  • the diversification of the output of an existing establishment into products or services not previously produced by the establishment;
  • the implementation of a fundamental change in the overall production process of an existing establishment;
  • a new economic activity related to the diversification of the activity of the establishment, under the condition that the new activity performed is not the same or a similar activity to the activity previously performed in the establishment;
  • the adoption of solutions that lead to the development of a significantly improved product or service;
  • the acquisition and integration into the business operation of solutions that are new or significantly advanced than those currently in use by the Undertaking.

Eligible Costs

  • Leasing/rental of privately owned operational premises
  • Construction/up-grading costs
  • Purchasing of equipment, machinery and/or plant
  • Patents and licenses
  • Wage costs related to the wage of a Change Manager employed specifically through the project to drive the necessary change within the enterprise through the diversification or a fundamental change initiative.

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