Summary of Action Point
1. Business Start 2021
Business START offers seed and growth funding for small start-ups. Start-up’s undertakings that are still in their early development phase may receive an initial grant of up to ten thousand euro (€10,000) to help them develop their business proposal and undergo a Feasibility Study that will help them determine the feasibility of their business idea. Start-ups that present a viable business plan may receive additional support linked to full time employment which may reach up to twenty thousand euro (€25,000) per quarter up to a maximum of €200,000.
This incentive shall be available from 1st January 2021 until the 31st of December 2023. The Corporation may periodically update and amend these Incentive Guidelines and may terminate the incentive at an earlier date. Any request for assistance shall be considered by applying the conditions established in the current Incentive Guidelines when the request for assistance is received.
2. Start Up Finance 2020
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.
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 was available until the 31st of December 2022.
Action Point is Established.