MT
INNOVATION AID FOR SMALL AND MEDIUM SIZED ENTERPRISES (SMES) REGULATIONS
Table of Provisions (7)
Statutory Text (7 Articles)
INNOVATION AID FOR SMALL AND
MEDIUM SIZED ENTERPRISES (SMES)
SUBSIDIARY LEGISLATION 463.44
INNOVATION AID FOR SMALL AND MEDIUM
SIZED ENTERPRISES (SMES) REGULATIONS
1 st September 2021
LEGAL NOTICE 79 of 2022.
The title of these regulations is Innovation Aid for Small
and Medium Sized Enterprises (SMEs) Regulations.
In these regulations, unless the context otherwise
requires
"Act" means the Malta Enterprise Act;
"Corporation" means
the
Malta
Enterprise
Corporation
established under the Act;
"Guidelines" means the Guidelines as may be published by the
Corporation from time to time in terms of the Act;
"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;
"small and medium sized enterprise (SME)" or "(SMEs)" shall
have the same meaning as assigned to it by 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;
"undertaking" shall have the same meaning as assigned to it in
the Act.
(1)
An SME may seek support from a research and
knowledge dissemination organisation to actively engage in
innovation activities, to access expertise, knowledge and resources to
develop new, innovative and improved products, processes and
services.
(2)
Where the Corporation is satisfied that an SME is
carrying out an innovative project, the Corporation may provide such
an undertaking with financial assistance in accordance with the terms
and conditions set out in the Guidelines.
(3)
An eligible undertaking shall only qualify for a cash
grant if such project leads to the creation, development and
implementation of a new product, process or service with the aim of
INNOVATION AID FOR SMALL AND
MEDIUM SIZED ENTERPRISES (SMES)
improving efficiency, effectiveness or competitive advantage.
The eligible costs shall be costs related to the
secondment of highly qualified personnel, innovation advisory
services and innovation support services required, specifically
incurred for the implementation of the innovative project as further
prescribed in the Guidelines.
(1)
The aid intensity shall not exceed fifty per cent
(50%) of the eligible costs. The maximum support per business
research partnership shall be of one hundred thousand euro
(€100,000).
(2)
In the case of aid for innovation advisory and support
services, the aid intensity can be increased up to one hundred per cent
(100%) of the eligible costs provided that the total support for
Innovation advisory services and innovation support services shall be
capped at two hundred thousand euro (€200,000) per undertaking
within any three (3) year period.
(1)
Applications for assistance under these
regulations shall reach the Corporation before the 31st August 2023.
(2)
No assistance under these regulations shall be awarded
by the Corporation after the 31st December 2023.