During the 2023 Budget, the government announced a new scheme titled Business Enhance, which aims to facilitate the digitalization of companies by rewarding grants to the companies that go through the effort of implementing a digital change.
The drive behind this scheme is that today’s market is not only local, but worldwide, and companies established in the Maltese Islands are going against global competitors. Investment is needed to expand business capabilities and drive growth.
SME DIGITALIZATION GRANT
Who can apply?
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- Micro enterprises and SMEs are eligible to apply for this scheme, however certain conditions apply.
What are the conditions for eligibility?
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- Eligible enterprises must be investing in supply chain and after sales processes, and product and process design and engineering, amongst others.
- Expenditure may be an investment in tangible or intangible assets, namely, e-Commerce websites and digital solutions.
How much funds are allocated?
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- The grant is capped at €50,000 per investment, and part-financing covers up to 50% for investments in Malta, and 60% for investments based in Gozo.
When are the deadlines?
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- The call is currently open, and will remain open until 31st December 2023, subject to changes. The digitalization project must be implemented within 24 months from the grant agreement.
- Interested enterprises must submit an application and fulfill at least 50% of the criteria for eligibility. The grants shall then be allocated based on a ranking system.
- If a grant is going to be awarded, the applicant will receive the support through a claims process.
DIGITAL INTENSIFICATION GRANT
This grant gives priority to projects in the manufacturing and tourism sectors.
Manufacturing
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- Investment supporting the transformation of current processes and transition to Industry 4.0 by optimizing existing technologies and explore the use of emerging technologies.
Tourism
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- Investment enhancing operations through the exploitation of analytical tools and other emerging technologies, with the aim of personalizing hospitality and maximizing client offering.
Who can apply?
-
-
- Micro enterprises and SMEs are eligible to apply for this scheme, however certain conditions apply.
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What are the conditions for eligibility?
-
- Eligible enterprises must be investing to advance digital intensification, such as supply chain and after sales processes, and product and process design and engineering, amongst others.
- Expenditure may be an investment in tangible or intangible assets, namely, off-the-shelf or custom-built software, and digital solutions.
How much funds are allocated?
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- The grant is capped at €200,000 per investment, with each aid depending on the size of the transformation and intensification.
When are the deadlines?
-
- The call is currently open, and will remain open until 31st December 2023, subject to changes. The digitalization project must be implemented within 24 months from the grant agreement.
- Interested enterprises must submit an application and fulfill at least 50% of the criteria for eligibility. The grants shall then be allocated based on a ranking system.
- If a grant is going to be awarded, the applicant will receive the support through a claims process.
Disclaimer: This article is only a summary of the guidelines pertaining to these schemes. This article is purely informational and does not replace the formal guidelines enforced by the authorities.