BUSINESS ENHANCE

The SME Diversification & Innovation Grant Scheme, financed by Business Enhance, seeks to assist SMEs through non-repayable grants to part-finance investments to develop focused:

- strategies and implement an investment in favour of diversification;

- fundamental changes, or investments, to bring to the market significantly improved and advanced products/services to those already offered by the undertaking.

To be eligible for the SME Diversification & Innovation Grant Scheme, financed by Business Enhance, the applicant must be:

- a micro, small and medium-sized enterprises engaged in economic activity, irrespective of their legal form, referred to as the ‘Undertaking’ subject to the exclusions enlisted below.

- Undertakings that are not vested with a legal personality acquired through the law applicable to their establishment, need to be registered under the Second Schedule of the Civil Code (Chap. 16 Laws of Malta).

To be eligible for the SME Diversification & Innovation Grant Scheme, financed by Business Enhance, recipients must carry out at least one of the following activities:

- the production, manufacture, improvement, assembly, preservation, processing of goods, materials, commodities, equipment, plant machinery; 

- biotechnology, pharmaceuticals and life sciences; 

- research and technological Innovation; 

- the repair, overhaul or maintenance of pleasure crafts, yachts having less than 100gt, aircraft, engines or equipment incorporated or used in such vessels or aircraft;  

- Information and Communication Technology (ICT) development activities, software development; 

- eco-innovations, and environmental solutions; 

- the creation of tourism products and/or services as a result of networks created between traditional tourism service providers and the crafts and artisan sector; 

- the development and provision of tourism products and/or services related to emerging niche markets;

- the development and provision of tourism products and/or services related to the promotion of natural and cultural heritage; 

- the development and provision of tourism products and/or services relating to social tourism with a specific focus on senior tourists, accessible tourism; 

- the development of innovative concepts, products and/or services offered by Boutique Hotels and Palazzini; 

- the development, and/or provision of E-health solutions; 

- the development and provision of services and products promoting healthy living; 

- the development and provision of services and products promoting active ageing; 

- the development and provision of services and products related to child-day care; 

- the development and creation of crafts and artisan products; 

- retail activities by self-employed and family businesses engaged in a craft;

- the introduction of products/services that can be marketed and distributed internationally and which are typically more advanced than those prevailing in their respective industry in terms of technology, know-how and skills.

The SME Diversification & Innovation Grant Scheme, financed by Business Enhance, expires on 2023-12-31.

The costs eligible for SME Diversification & Innovation Grant Scheme, financed by Business Enhance, are:

- leasing/rental of privately owned operational premises (max 10%);

- construction/up-grading costs (max 10%);

- purchasing of equipment, machinery and/or plant;

- patents and licenses (max 10%);

- wage costs related to the wage of a Change Manager employed specifically through the project to drive the necessary change within the enterprise through diversification or a fundamental change initiative.

The maximum amount of aid that may be provided by the SME Diversification & Innovation Grant Scheme, financed by Business Enhance, to an undertaking shall not exceed €200,000 part-financing eligible costs up to 50%.

SME Diversification & Innovation Grant Scheme, financed by Business Enhance,will co-finance 50% of the eligible costs.

The funding body for the SME Diversification & Innovation Grant Scheme is Business Enhance.