Start-up Enhance

Who is eligible for this scheme?

This incentive is open for start-up micro and small enterprises.

Start-up means an Enterprise which, at the time of the granting of the aid is an unlisted small enterprise up to five years following its registration, that fulfils the following cumulative conditions:

a) it has not taken over the activity of another undertaking, unless the turnover of the overtaken activity accounts for less than 10% of the turnover of the eligible undertaking in the financial year preceding the take-over;

b) it has not yet distributed profits;

c) it has not acquired another undertaking or has not been formed through a merger, unless the turnover of the acquired undertaking accounts for less than 10% of the turnover of the eligible undertaking in the financial year preceding the acquisition or the turnover of the merged undertaking formed through a merger is less than 10% higher than the combined turnover that the merging undertakings had in the financial year preceding the merger

What costs are covered by this aid?

This Grant Scheme will support eligible enterprises to procure:

a) Equipment, Plant and Machinery

This includes Costs for the purchasing of the main component of the operation in terms of equipment, plant and machinery required by the Undertaking for the operation. Any training costs limited to the use of the specific item acquired and included in the purchase price of the item in question, and thus from the same provider shall be included in the eligible cost.

Equipment, machinery/plant must be maintained by the Beneficiary and remain operational for at least 3 years following the final payment to the beneficiary.

b) Equipment, Plant and Machinery (ancillary items)

This includes costs for the purchasing of ancillary items to the main activity of the project. Such costs shall be capped at 10% of the eligible cost of the main component of the operation in terms of equipment, plant and machinery.

c) Lease of private operational premises

This includes Costs for leasing of privately owned operational premises required for the operations of the Undertaking for the duration of 2 years. Such costs shall be capped at 20% of the eligible cost of the main component of the operation in terms of equipment, plant and machinery.

The aid value for the identified eligible expenditure shall be reimbursed through the application of actual cost incurred and paid and capped at the value of the Grant Agreement or the invoice amount, whichever is the lowest.

Any of the above expenditure is to be identified in the Business Plan and is to be procured from external and unrelated sources to the applicant.

What is the form of this aid and what are the maximum aid intensities?

This scheme will part-finance 50% of the eligible costs in the form of a grant with a minimum funding amount of €10,000 and maximum funding amount of €400,000 per operation. Investments in Gozo will benefit from an additional 10% aid intensity.

When are the cut off dates for this Scheme?

Whilst the Start-up Enhance will remain effective until 31 December 2026, subject to availability of funds, the next round of cut-off dates are the following:

29 March 2024

30 April 2024

31 May 2024

28 June 2024

Should you require any further assistance or require any further information about the reduced rate of tax, do not hesitate to contact us so that we may assist you.

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