Maximum grant of €200,000.Business START offers seed and growth funding for small start-ups. The measure supports Small Start-up Undertakings that have a viable business concept throughout their development phase prior to seeking third party equity. Following an evaluation of the business concept, start-up ventures considered by Malta Enterprise as economical feasible may receive an initial grant of up to ten thousand euro (€10,000) to help them develop their business proposal. Start-ups that present a viable business plan may receive additional support linked to the number of persons engaged which may reach up to twenty thousand euro (€20,000) per quarter.
Eligible undertakingsA 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 activitiesIn order to be eligible for assistance under this incentive, applicants must classify under one of the following sectors:
• 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• Pre-Business Plan Support is provided to start-ups and self-employed in their early development phase through an initial grant of up to €10,000 to develop their business concept, out of which €5,000 may be claimed as a reimbursement of 50% of costs incurred for mentoring and advisory services
• Post-Business Plan Support is provided to start-up companies with a viable business plan. These may receive up to €20,000 per quarter linked to full time employment. Up to €5,000 of the grant can be disbursed to finance the procurement of assets required for the business operation.