INNOVATION AID FOR SMALL AND MEDIUM SIZED ENTERPRISES (SMES)
(2024)[ S.L. 463.51 SUBSIDIARY LEGISLATION 463.51 INNOVATION AID FOR SMALL AND MEDIUM SIZED ENTERPRISES (SMES)
(2024)REGULATIONS 1st January, 2024 LEGAL NOTICE 51 of 2024. 1.
(1)The title of these regulations is the Innovation Aid for Small and Medium Sized Enterprises (SMEs)
(2024)Regulations. Citation.
- requires: In these regulations, unless the context otherwise Interpretation. "Act" means the Malta Enterprise Act; Cap.
- "Corporation" means Malta Enterprise as established by article 7 of the Act; "Guidelines" means the Guidelines as may be published by the Corporation from time to time in accordance with the Act; "highly qualified personnel" shall have the same meaning as assigned to it in Annex 1 of Commission Regulation (EU) No 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty, as amended from time to time; "innovation advisory services" shall have the same meaning as assigned to it in Annex 1 of Commission Regulation (EU) No 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty, as amended from time to time; "innovation support services" shall have the same meaning as assigned to it in Annex 1 of Commission Regulation (EU) No 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty, as amended from time to time; "small and medium sized enterprise (SME)" or "(SMEs)" shall have the same meaning as assigned to them in Annex 1 of Commission Regulation (EU) No 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty, as amended from time to time; 1 2 [ S.L. 463.51 INNOVATION AID FOR SMALL AND MEDIUM SIZED ENTERPRISES (SMES)
(2024)"research and knowledge-dissemination organisation" shall have the same meaning as assigned to it by Commission Regulation (EU) No 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty, as amended from time to time; "undertaking" shall have the same meaning as assigned to it in the Act. Assistance to eligible undertakings. 3.
(1)SMEs may improve their innovative performance through access to highly qualified personnel and collaboration with a research and knowledge dissemination organisation.
(2)Where the Corporation is satisfied that an SME is carrying out an innovative project, the eligible undertaking shall qualify for a cash grant to support innovative actions in accordance with the terms and eligibility criteria as set out in the Guidelines.
(3)A business research partnership may be established through the secondment of highly qualified personnel seconded from a research and knowledge-dissemination organisation or as innovation advisory provided by a research and knowledge-dissemination organisation. Eligible costs. 4. The eligible costs shall be the costs related to the secondment of highly qualified personnel, the cost of the innovation advisory, and costs for innovation support services required for the implementation of the project as further prescribed in the Guidelines. Aid intensity. 5.
(1)The maximum assistance for every application shall not exceed fifty per cent (50%) of the eligible costs, capped at two hundred and fifty thousand euro (€250,000).
(2)In the case of assistance for innovation advisory and innovation support services, if an aid intensity above fifty per cent (50%) is approved, the total assistance for innovation advisory services and innovation support services shall be capped at two hundred and twenty thousand euro (€220,000) for every undertaking within any three
(3)year period. Deadline for submission of applications for assistance. 6.
(1)Applications for assistance in accordance with these regulations shall be submitted to the Corporation before 30th October 2026.
(2)Assistance in accordance with these regulations shall not be granted by the Corporation after 31st December
- Transitory provision.
- In the eventuality that a new scheme is issued, the provisions in respect of which the assistance was granted prior to the issuance of the new scheme shall continue to apply thereto.