Smart Sustainable Investment Grant
In recent years, there has been a surge of interest from innovative decision-makers in companies who want to use technology for smarter, greener business processes.
Thanks to the new Smart and Sustainable Investment Grants Programme launched by Malta Enterprise, digital transformation has now become even easier. In line with the EU vision to promote technology and environmental sustainability, the programme offers financial support to Maltese businesses of all sizes that want to take their first steps towards a green future.
The scheme consists of a cash grant of a maximum of €50,000 covering up to 50% of eligible expenditure for environmental sustainability and technological innovation projects.
In addition, eligible projects must be at least €10,000 and aim to achieve sustainability, improve environmental performance or increase growth potential through digitalisation.
The available investments must relate in particular to the following areas;
The adoption of technologies through electronic devices and/or systems that enable product functionality to be enhanced, online services to be developed, processes to be modernised or business models to be moved that are based on the disintermediation of the production of goods and the delivery of services and ultimately have a transformative impact;
Projects could include:
- Increasing process efficiency through IoT (smart HVAC, system monitoring, etc.)
- Solutions to improve (optimise) logistics, including partnerships with other businesses, leading to a reduction in carbon emissions
- Installing building management systems to optimise heat, light and electricity consumption.
- Industry 4.0 solutions that lead to higher automation and fast, customer-focused adjustments.
Digital Intensification Grant Scheme
Another scheme, as part of Malta's Recovery and Resilience Plan, the Digital Intensification Grant Scheme was launched on June 28, 2022. Given the infinite and competitive nature of global business, it is imperative that companies keep up with the latest technology trends and products. Investing in such products is the basis for surviving and staying up to date in today's digital world.
Digitalization has been shown to enable new economic opportunities, new business models, more efficient processes, and better customer acquisition and retention. This incentive aims to help qualified companies to cover some of the initial investment in small and medium-sized enterprises or, in the case of large enterprises, new economic activities through non-repayable grants.
The Grant applies to the following industries:
Manufacturing – Investment, prospective maintenance, tracking and support to support the transformation process and transition to Industry 4.0 by optimizing the use of existing and new technologies and the use of trends such as digital twins, tracking, and modular design.
Tourism Industry – Investing in guaranteeing analytics tools and AI to design, customize and personalize hospitality packages and offers, as well as in digitization and other technologies that help reduce water and electricity consumption.
The investment may include, but is not limited to, the following activities:
- Investments and solutions related to product lifecycle management
- Life cycle analysis
- Cloud-Based Platforms
- Internet of Things (IoT)
- Cyber security and data protection
- Cyber-physical system
- Augmented reality
- Artificial intelligence (AI)
- Circular manufacturing
- Autonomous solutions
- Big data and data management
- Decision support systems.
The maximum grant value under this scheme is set at €200,000 per digitalisation investment.
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