A total of 200 applications which between them are requesting grants amounting to €13.9 million have been submitted in the latest call for applications issued by Malta Enterprise for five schemes co-financed through the European Regional Development Fund (ERDF).
The scheme most in demand was that for Innovation, for which 85 applications were submitted, evidence of the local entrepreneurs’ increasing awareness about the need to constantly innovate their products, service offering or processes they implement in their operations as a means of ensuring their long term sustainability and competitiveness.
Almost 50 applications were submitted for assistance through the International Competitiveness scheme, which assists enterprises to seek and enter foreign markets; around 30 for the Small Start-Up scheme; and around 20 each for the Environment and the R&D schemes.
As for the previous calls of these Schemes, through which Malta Enterprise approved almost €35 million in assistance to around 570 beneficiaries - albeit these also included the Energy and eBusiness schemes - the response has been very encouaraging.
Indeed, the amount being requested reaches €14 million and thus significantly exceeds the remaining budget of €8.5 million from the ERDF funds. The value of the projects for which applications have been submitted is envisaged to reach a global investment of around €35 million.