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Innovate – Innovation Aid for SMEs

Deloitte Malta Gi3 Alert

25 May 2022

Malta Enterprise has launched a new scheme, INNOVATE (the ‘Scheme’), intended to support Small or Medium-Sized enterprises (’SMEs’) in carrying out projects leading to product, process and organisational innovation in collaboration with a Research and Knowledge-Dissemination Organisation (‘RKO’). Through such co-operation, SMEs will be able to access the expertise, knowledge and resources required to facilitate such projects.

The Scheme can provide funding for the secondment of highly qualified personnel and innovation advisory and support services. The supported activities should lead to new or improved products, services and/or processes. Projects must commence within 12 months from the date the funding is approved and must be implemented and finalised within 36 months from the commencement date.

A beneficiary may only receive support in relation to one concurrent Business Research Partnership, established through the secondment of highly qualified personnel from a RKO or as innovation advisory provided by a RKO. The aid intensity shall not exceed 50% of the eligible costs, with maximum support of €100,000 per Business Research Partnership. In the case of aid for innovation advisory and support services, the aid intensity can be increased up to 100% of the eligible costs provided that the total support is capped at €200,000 per undertaking within any three-year period.

Eligible costs shall consist of the following:

i. Secondment of personnel;
ii. Innovation advisory services; and
iii. Innovation support services.

How can we help?

Deloitte Malta is able to assist in answering your queries, so please do not hesitate to reach out to us for any further guidance you may require.

In addition, Deloitte Malta is able to assist with the preparation of the required applications and any supporting documentation, as well as document submission and any required follow-ups.

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