Maximum repayable assistance of €400,000, which may increase up to €800,000.

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. Through this scheme, 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 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.

Eligible undertakings

A Start-up Undertaking shall be any unlisted small enterprise up to 5 years following its registration, which fulfils the following conditions:

• it has not taken over the activity of another enterprise;
• it has not yet distributed profits;
• it has not been formed through a merger.

Eligible activities

In order to be eligible for assistance under this incentive, applicants must classify under one of the following sectors:

• Manufacturing;
• Software development;
• Industrial services analogous to manufacturing;
• Health, Biotechnology, Pharmaceuticals and Life Sciences;
• Other innovative economic activities which are enabled through knowledge and technology providing services or products which are currently not readily available in the relevant market or which shall be provided through a process which is novel.

In order to be eligible for assistance under this incentive, applicants must fulfil at least two of the following criteria:

• The proposed products and/or services have the potential to generate income from various geographical markets.
• The applicant produces or intends to produce products which are new or substantially improved compared to existing products on the market or provides or intends to provide services which are new or substantially improved compared to existing services on the market.
• The applicant shall utilise processes, which are new or substantially improved compared to those adopted in current complementary activities.

Eligible costs

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:

• One time accelerator grant
• Payroll costs
• Private equity
• Working capital
• Procurement of tangible and intangible assets
• Crowdfunding