What We Think
April 21, 2020
Mitigate against repercussions brought about due to COVID-19: Start-Up Investment Grant Scheme
This pandemic can be best described as a watershed moment for humanity. It has ushered a new surreal world that has caught the world off-guard. What we once all perceived as normality has changed, and we all need to adjust to a new normal. The Measures and Support Division are administering the Start-Up Investment Grant Scheme which is specifically targeted to autonomous enterprises which at the time of the granting of the aid, among other conditions, are unlisted micro or small enterprises less than three years following their establishment. The Maltese market experienced an unprecedented rise of similar start-ups in the last few years, mainly thanks to a booming economy and a responsive market. Many of these entities up until a few months ago were planning or in the process of implementing their growth strategies. Giving up and retracting investment and operations now is the worst decision one can take, and one which business owners will surely regret in the future. This scheme seeks to assist start-ups, engaged across different activities, in the form of non-repayable Grants in part-financing their initial productive investment costs in both Tangible and Intangible assets. The aid intensity is of 50% on eligible costs up to a maximum grant value of €300,000. Eligible costs include:
- Lease/rental of private operational premises;
- Construction/up-grades of private operational premises;
- Purchasing of equipment, machinery and plant;
- Patents and licenses.
This crisis is a temporary one, and businesses shouldn’t only be thinking about surviving the storm, but about emerging stronger once it’s over.
Should you require any further information or have any queries on this scheme, including on entity eligibility, please contact: