Click here to view the December newsletter
“Just like Estonia gave birth to Bolt, Sweden to Trustly, and England to Revolut, Malta must aspire to have its own successful start-up that puts the country on the map,” the economy minister Silvio Schembri said.
The €10 million fund will support new ventures that cannot get commercial loan.
In Malta, there are several government grants and programs available to support innovative start-ups. These grants aim to foster economic growth, technological development, and innovation in various sectors.
The venture capital fund is one of several measures aimed at start-ups. The idea is to support their development into successful companies.
Brand new companies can also receive up to €10,000 to develop their ideas and up to €200,000 to cover salaries once a business plan is approved.
Companies can then apply for a grant of €400,000 of further assistance once they have a viable product.
And if the company has a digital focus or an alternative energy product, the grant goes up to €800,000.
It’s important to note that these grants have specific eligibility criteria and requirements that need to be met. Start-ups interested in applying for these grants should carefully review the guidelines and application processes provided by the respective entities offering the grants.
About Malta Start-up residency programme:
The Malta Start-up Residency Programme is a government initiative that aims to attract foreign entrepreneurs and start-ups to establish their businesses in Malta. The programme provides a three-year extendable residency permit to non-EU/EEA nationals who have an innovative business idea and are willing to establish their start-up in Malta.
The programme is seen to attract talented entrepreneurs and innovative start-ups to Malta, bringing new ideas, investments, and business opportunities to the country. It also aims to create a vibrant start-up ecosystem and support the growth of the local economy.
The Malta Start-up Residency Programme has gained popularity among foreign entrepreneurs and has been successful in attracting start-ups from various sectors, including technology, fintech, healthcare, and digital innovation. It offers an attractive opportunity for entrepreneurs to launch and establish their businesses in a business-friendly and EU-accredited jurisdiction like Malta.
To be eligible for the programme, applicants need to have a minimum viable product, a business plan, and a financial commitment of €25,000 as a minimum share capital for their Malta Company. They also need to prove that their start-up has the potential to create jobs and contribute to Malta’s economic growth. Furthermore, applicants are required to have a valid passport, health insurance, and a clean criminal record.
Once accepted into the programme, start-up founders and their families can reside in Malta for a period of three years, with the possibility of extending their residency for the next 5 years, depending on the growth and success of their start-up. Residency also granted to core employees (annual earning not less than 30,000 €).
Participants also have access to a range of support services, including assistance with obtaining office space, networking opportunities, and access to funding schemes and grants.
For more information contact us today!
Click here to view the December newsletter
