Applications now open for SME Enhance Funding Support (Malta)

This grant scheme focuses on Policy Objective 1 of the SFC2021 Programme 2021-2027: “A more competitive and smarter Europe by promoting innovative and smart economic transformation and regional ICT connectivity,” emphasizing the promotion of entrepreneurship by facilitating the economic exploitation of new ideas and fostering the creation of new firms through business incubators. The specific objectives include reaping the benefits of digitisation for citizens, companies, research organisations, and public authorities, and enhancing sustainable growth and competitiveness of SMEs alongside job creation, including through productive investments.

SME Enhance targets investments towards the expansion, diversification, innovation, and initial investments of eligible SMEs and start-ups engaged in economic activities. The scheme finances tangible and intangible assets such as equipment, machinery, ancillary items, subscription-based software, and lease of private operational premises. Eligible expenditures exclude costs related to maintenance, taxes, insurance, training (beyond limited cases), and others as detailed to ensure proper use of funds.

Eligible undertakings include legally registered micro, small, and medium enterprises, including start-ups up to five years from registration, but exclude entities engaged in collective insolvency, illegal activities, certain agricultural sectors, tobacco, gambling, and sectors like steel, coal, lignite, and transport, among others. Maximum grant amounts range from €10,000 to €128,400, with aid intensity varying by enterprise size and location, encouraging investment especially in assisted areas of Malta and Gozo.

Applications are submitted online and evaluated based on eligibility gateway criteria, financial viability, and selection criteria that include risk assessment, project excellence, impact and sustainability, and quality and efficiency of implementation. Projects scoring at least 50% of the selection criteria and meeting eligibility requirements may be awarded funding subject to budget availability.

Funds are disbursed through advance payments and reimbursements upon completion of project milestones, with strict rules on procurement, monitoring, audit, and reporting to ensure transparency and compliance. Beneficiaries must maintain project assets for at least three years post-investment and comply with publicity and sustainability requirements aligned with EU regulations.

For more information, visit Fondi.eu.