Innovative startups can benefit up to €1.2 million in incentives from Malta Enterprise

Innovative startups can benefit up to €1.2 million in incentives from Malta Enterprise

Reference Number: PR210580, Press Release Issue Date: Mar 24, 2021
 

StartinMalta.com: new site has been launched to attract Maltese and foreign startups to operate from our country

New businesses can benefit from the financial assistance of up to €200,000, thanks to the new Business Start scheme (BStart 2021) launched today by the Minister for Energy, Enterprise and Sustainable Development Miriam Dalli and the Chief Executive of Malta Enterprise Kurt Farrugia.

During the same press conference, a new website, StartinMalta.com, was also launched to provide information about Malta as the ideal place for local and foreign investment.

“Malta is open for startups,” said Minister Miriam Dalli, while explaining that the Maltese Government, through Malta Enterprise, offers the necessary support for new businesses to find the required help. 

“Our country offers a competitive advantage, such as the use of the English language, connectivity, and strong regulatory frameworks. A recognized strong advantage is that we believe in open dialogue with stakeholders. This has led us to launch the new BStart 2021 scheme, which offers both financial assistance and mentorship and advisory services.”

Minister Dalli said that in Malta and Gozo, we have seen hundreds of success stories. “This is a success story that we want to see more startups included.”

Between 2015 and 2020, through the aid granted under the BStart scheme, Malta Enterprise assisted 62 companies with a cash grant of € 1.5 million; in which, during the same period, the incentive could go up to a maximum of €25,000.

BStart 2021 will be divided into two parts, the “Pre Business Plan”—where a company can benefit up to € 10,000 on each project—and the "Post Business Plan". For those Startups that present an economically viable Business Plan, a maximum grant of € 200,000 can be awarded. This grant will be spread over a period of not more than 36 months, with € 20,000 distributed quarterly.

Complementing with the BStart 2021, there is Start-Up Finance. An enterprise can receive the assistance of up to € 800,000 for innovative enterprises.

The assistance under Startup Finance will be repaid once the company starts making a profit.

Between 2017 and 2020, through the Startup Finance scheme, Malta Enterprise assisted 10 companies for a total of € 4 million.

The third scheme is that of Business Development. A company that is transforming or consolidating its operation can benefit from tax credit aid or cash grants of up to € 200,000.

With regards to the startinmalta.com site, it was explained how this site offers information on what makes Malta attractive for investment, information on the schemes available for startups, and testimonials from successful startups from Malta.

The Chief Executive Officer of Malta Enterprise, Kurt Farrugia, said that through StartinMalta.com we would reach the most innovative startups both Maltese and foreign who are looking for a new home to operate from.

 "By strengthening BStart, we can be among the most attractive countries in the world for startups because of the incentives that we have available and the quality of life that Malta offers. I am therefore convinced that in the future, Malta will continue to serve as a jurisdiction of excellence for startups," said Kurt Farrugia.



Startups innovattivi jistgħu jibbenefikaw sa €1.2 miljun f’inċentivi tal-Malta Enterpise

StartinMalta.com: varat sit ġdid għal startups Maltin u dawk barranin imħajra joperaw minn pajjiżna

Negozji ġodda jistgħu jibbenefikaw minn għajnuna finanzjarja sa massimu ta’ €200,000, grazzi għall-iskema l-ġdida tal-Business Start (BStart 2021) li ġiet varata mill-Ministru għall-Enerġija, l-Intrapriża u l-Iżvilupp Sostenibbli Miriam Dalli u mill-Kap Eżekuttiv tal-Malta Enterprise Kurt Farrugia.

Fl-istess konferenza ġie varat ukoll sit elettroniku ġdid, StartinMalta.com, bil-għan li jipprovdi informazzjoni dwar Malta bħala l-post ideali biex jibdew startups kemm minn imprendituri lokali u dawk barranin.

“Malta hija miftuħa għall-istartups,” qalet il-Ministru Miriam Dalli, filwaqt li spjegat li l-Gvern Malti, permezz ta’ Malta Enterprise, qed joffri l-appoġġ meħtieġ biex in-negozji l-ġodda jsibu l-għajnuna li hemm bżonn.

“Pajjiżna joffri vantaġġ kompetittiv, ewlenin fosthom l-użu tal-lingwa Ingliża, il-konnettività u frameworks regolatorji b’saħħithom. Vantaġġ b’saħħtu rikonoxxut huwa li nemmnu fid-djalogu miftuħ mal-istakeholders. Dan proprju wassalna biex invaraw l-iskema l-ġdida tal-BStart 2021 li toffri kemm għajnuna finanzjarja kif ukoll mentoring u advisory services.”

Il-Ministru Dalli qalet li f’Malta u f’Għawdex rajna mijiet ta’ stejjer ta’ suċċess. “Din hija l-istorja ta’ suċċess li fiha rridu naraw aktar startups inklużi.”

Bejn l-2015 u l-2020, permezz tal-għajnuna mogħtija taħt l-iskema BStart, il-Malta Enterprise assistiet lil 62 kumpanija b’għotja ta’ flus li laħqet il-€1.5 miljun. Matul dan il-perjodu, l-inċentiva kienet titla’ sa massimu ta’ €25,000.

Il-BStart 2021 se tkun imqassma f’żewġ partijiet, il-‘Pre-Business Plan’ – fejn kumpanija tista’ tibbenefika sa €10,000 – u l-‘Post-Business Plan’. Dawk l-istartups li jippreżentaw business plan li huwa ekonomikament vijabbli, jistgħu jingħataw għotja massima ta’ €200,000. Din l-għotja tkun maqsuma fuq perjodu li ma jaqbiżx is-36 xahar, b’€20,000 imqassma kull tliet xhur.

Kumplimentari għal BStart 2021, hemm l-iskema iStart-Up Finance li biha intrapriża tista’ tirċievi għajnuna sa massimu ta’ €800,000 f’każ ta’ intrapriżi innovattivi.

L-għajnuna taħt Startup Finance tibda titħallas lura ladarba l-kumpanija tibda tagħmel profitt.

Bejn l-2017 u l-2020, permezz tal-għajnuna mogħtija taħt l-iskema ta’ Startup Finance, il-Malta Enterprise assistiet 10 kumpanija għal total ta’ €4 miljuni.

It-tielet skema hija dik tal-Business Development li permezz tagħha kumpanija li qed tkompli tikber fi stadju ta’ scale-up tista’ tibbenefika minn għajnuna ta’ tax credit jew għotjiet ta’ flus sa massimu ta’ €200,000.

Dwar is-sit startinmalta.com, ġie spjegat li dan is-sit joffri informazzjoni dwar x’jagħmel lil Malta attraenti għall-investiment, informazzjoni dwar l-iskemi disponibbli għall-istartups u testimonials minn startups li għamlu suċċess minn Malta.

Il-Kap Eżekuttiv ta’ Malta Enterprise Kurt Farrugia qal li permezz ta’ startinmalta.com se nilħqu l-iktar startups innovattivi kemm Maltin u anke barranin li qed ifittxu dar ġdida minn fejn joperaw.

“Bit-tisħiħ ta’ BStart, inċentivi oħra u l-kwalità tal-ħajja li toffri Malta, nistgħu nkunu fost l-iktar pajjiżi fid-dinja li huma attraenti għall-istartups. Għalhekk konvint li fiż-żmien li ġej Malta ser tkompli sservi ta’ ġurisdizzjoni ta’ eċċellenza għall-istartups”, qal Kurt Farrugia.