MT
INNOVATION AID FOR SMALL AND MEDIUM SIZED ENTERPRISES (SMES) (2024) REGULATIONS
Table of Provisions (8)
Statutory Text (8 Articles)
INNOVATION AID FOR SMALL AND MEDIUM SIZED
ENTERPRISES (SMES) (2024)
SUBSIDIARY LEGISLATION 463.51
INNOVATION AID FOR SMALL AND MEDIUM
SIZED ENTERPRISES (SMES) (2024) REGULATIONS
1st January, 2024
LEGAL NOTICE 51 of 2024.
(1)
The title of these regulations is the Innovation Aid
for Small and Medium Sized Enterprises (SMEs) (2024) Regulations.
In these regulations, unless the context otherwise
requires
"Act" means the Malta Enterprise Act;
"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;
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.
(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.
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.
(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.
(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 2026.
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.