Articles

Artículo

SME Diversification and Innovation Grant Scheme

12.10.2016

This incentive seeks to assist SMEs through non-repayable grants to part-finance 50% of eligible expenditure related to investments to be used for the development of focused strategies in favour of diversification or towards investments which bring to the market significantly improved and advanced products/services to those already offered by the beneficiary.

Next deadlines

This scheme is demand-driven and managed through an open rolling call. Following an evaluation process, eligible applications scoring at least 50% of the selection criteria shall be awarded the grant. The scheme will remain operational until 31st December 2020, subject to availability of funds, and shall be awarded on a first-come-first-served basis.

Eligible applicants

Micro, small and medium sized enterprises engaged in an economic activity, irrespective of their legal form, and engaging in one of these activities:

  • Development and/or provision of E-health solutions; 
  • Research and technological innovation; 
  • ICT development activities, software development;
  • Introduction of advanced products/services that can be marketed and distributed internationally;
  • Repair, overhaul or maintenance of pleasure crafts, yachts having less than 100gt, aircraft, engines or equipment incorporated or used in such vessels or aircraft;
  • Development and provision of services and products promoting healthy living;
  • Production, manufacture, improvement, assembly, preservation, processing of goods, materials, commodities, equipment and plant machinery;
  • Retail activities by self-employed and family busi¬nesses engaged in craft;
  • Development and provision of services and products promoting active ageing;
  • Development and provision of services and products related to child-day care;
  • Development and provision of tourism products and/or services related to the promotion of natural and cultural heritage;
  • Creation of tourism products and/or services as a result of networks created between traditional tourism service providers, and the crafts and artisan sector;
  • Biotechnology, pharmaceuticals and life sciences;
  • Development and creation of crafts and artisan products;
  • Development and provision of tourism products and/or services related to emerging niche markets;
  • Eco-innovations, and environmental solutions;
  • Development and provision of tourism products and/or servic¬es relating to social tourism; and
  • Development of innovative concepts, products and/or services offered by boutique hotels and palazzini.

Eligible actions

Investment in tangible and intangible assets related to the implementation of focused strategies resulting in:

  • diversification of the output of an existing establishment into products or services not previously produced by the establishment;
  • implementation of a fundamental change in the overall production process of an existing establishment;
  • new economic activity related to the diversification of the activity of the establishment, under the condition that the new activity performed is not the same or a similar activity to the activity previously performed in the establishment;
  • adoption of solutions that lead to the development of a significantly improved product or service; and
  • acquisition and integration into the business operation of solutions that are new or significantly advanced than those currently in use by the applicant.

Eligible costs

  • costs for leasing/rental of privately owned operational premises required for the operations of the undertaking for the extent and duration of the project. Procurement is to be from external sources, and costs are not to exceed 10% of the total project eligible expenditure;
  • construction/upgrading costs required to render the premises operational for the purpose and the extent of the project. Procurement is to be from external sources and costs are not to exceed 10% of the total project eligible expenditure;
  • costs for purchasing of new equipment, machinery, and/or plant required for the project and which is procured from external sources;
  • costs related to patents/licences bought or licensed for the extent and the duration of the project which are essential to the effective implementation of the project, procured from external sources. Procurement is to be from external sources and costs are not to exceed 10% of the total project eligible expenditure; and
  • wage costs related to the wages of a newly recruited employee in the post of a change manager, working full-time exclusively on the project to drive the necessary change within the enterprise. This support is capped at a maximum of €30,000 over a 24-month period with the maximum eligible expenditure over a period of 24 months being capped at €60,000.

Assistance

The allocated budget for this measure is set at €8,000,000 with indicative annual thresholds of €1,600,000. The maximum grant value under this scheme is set at €200,000 part-financing eligible costs up to 50%.

Implementation

Actions financed under this scheme are to be implemented within 24 months from the date of the grant agreement.

How can we assist? 

Nexia BT can assist you in the successful sourcing of funding. This includes, strengthening your project idea identifying possible collaborations with local or international partners, compilation of business plan and writing-up the project proposal. We also offer project-management services throughout the duration of the project life-cycle in order to make sure that the intended targets and results are obtained in a timNexia BT can assist you in the successful sourcing of funding. This includes, strengthening your project idea identifying possible collaborations with local or international partners, compilation of business plan and writing-up the project proposal. We also offer project-management services throughout the duration of the project life-cycle in order to make sure that the intended targets and results are obtained in a timely manner.

Contacts:

Reno Zammit
Senior Manager
Reno.zammit@nexiabt.com

Click here to download the document.