Malta Enterprise is launching aStart-up Finance scheme. The measure was announced in the 2016 Budget speech andaims to assist the development and growth of small start-ups in their early stages of development through repayable assistance. Companies mainly engaged in manufacturing, information technology, research & development, biotechnology, pharmaceuticals and life sciences can benefit from the scheme.
In order to ease access to finance for such start-ups, Malta Enterprise will be providing support linked to private equity; crowd funding and the procurement of machinery and equipment. Depending on the type of support provided, assistance may be up to Euro 100,000 if linked to crowd funding campaigns and up to Euro 200,000 when the support is linked to private equity or required to fund the procurement of machinery and equipment. If the applicant qualifies as a knowledge based start-up and is requesting support for the procurement of machinery and equipment the assistance may increase to Euro 500,000.
Malta Enterprise will be providing this support in the form of repayable assistance. The Corporation shall charge an annual simple interest rate calculated on the balance at the end of each year. This interest rate shall increase the longer the beneficiary takes to repay the funds. Although the assistance should be repaid within ten (10) years, the Corporation may agree to extend the repayment period in-line with the performance of the supported undertaking.
Further information on the scheme can be found here or by calling 144