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In: Funding

Securing the right funding can propel businesses towards innovation, growth and long-term success. For companies in Malta, a number of EU and national funding programs offer vital support across various initiatives – from digitalisation and SME expansion to start-up development and employee training. However, navigating the complex landscape of grant applications and funding strategies is no easy feat. This comprehensive guide aims to simplify the process and equip businesses with the knowledge to tap into these valuable resources effectively.

At IDEA Consulting, our team of consultants specialise in helping organisations unlock the full potential of EU and National funding opportunities in Malta. With years of experience and an in-depth understanding of the funding ecosystem, we can provide end-to-end support, guiding you from the initial application stage through to successful implementation and execution.

Digitalisation Funding: Embracing the Future

The digital transformation of businesses has become a necessity in today’s rapidly evolving landscape. We recognise this imperative and hence offer comprehensive support in accessing funds in the field of digitalisation such as the “Digitalise Your Micro Business” and “Digitalise Your Business” schemes among others.

The “Digitalise Your Micro Business” scheme provides up to €10,000 to help micro enterprises digitalise their operations. Our consultants work closely with clients to understand their specific digital needs, develop a comprehensive digitalisation strategy, and ensure their applications align with the scheme’s objectives. From preparing project proposals and financial projections to navigating the application process, IDEA streamlines every step, maximizing the chances of securing the desired funding.

For larger enterprises, the “Digitalise Your Business” scheme offers up to €120,000 in grants for adopting digital technologies such as enterprise resource planning (ERP) systems, customer relationship management (CRM) tools, e-commerce platforms, and data analytics solutions. Furthermore, the scheme also offers the opportunity to procure hardware such as laptops, docking stations, monitors, and tablets among others. Our expertise ensures that the funded initiatives are strategically aligned with the business’s long-term goals, delivering tangible returns on investment.

Fuelling SME Growth and Innovation

Small and medium-sized enterprises (SMEs) are the backbone of Malta’s economy, and we are committed to supporting your growth and innovation through targeted funding schemes. The “SME Enhance (de minimis)” and “SME Enhance (GBER)” programs are at the forefront of our SME-focused offerings.

With the “SME Enhance (de minimis)” scheme, our consultants can guide SMEs in securing up to €120,000 in grants for expansion, diversification, and innovation projects. Our team assists you in developing comprehensive business plans, conducting market research, and preparing compelling project proposals that highlight the potential impact on productivity, competitiveness, and market positioning.

For larger-scale initiatives with significant operational impact, the “SME Enhance (GBER)” scheme provides up to €500,000 in grants. Our consultants work closely with SMEs to identify eligible activities, such as investments in tangible and intangible assets, research and development projects, and strategic collaborations with industry partners or research institutions. Our thorough understanding of the scheme’s requirements and rigorous application process ensures that your proposals stand out, maximising their chances of securing the desired funding.

Moreover, our support extends beyond the application stage. Our consulting team offers ongoing guidance in project management, reporting, and strategic decision-making, ensuring that your business successfully navigates the complexities of executing the growth initiatives successfully whilst maximising the impact of the secured funds

Unlocking Business Insights

In the ever-changing business landscape, data-driven decision-making is paramount. We recognise this need, and we can assist you in leveraging the ‘Business Reports for SMEs’ scheme to help you gain valuable insight and make informed strategic choices.

Through this scheme, we can assist SMEs in securing €4,000 for either a process and systems review or a comprehensive business plan. Our consultants work closely with you to understand your specific needs ensuring that the commissioned reports deliver actionable insights tailored to your unique circumstances.

Whether it’s identifying areas for operational efficiency improvements, exploring untapped market opportunities, or evaluating strategic growth pathways, our guidance can assist your SMEs to maximise the value derived from these tailor-made reports. Our consultants provide objective perspectives and industry-specific expertise, enabling you to make data-driven decisions that drive sustainable growth and competitiveness.

Empowering Start-ups

We are committed to foster entrepreneurship and support the growth of Malta’s thriving start-up ecosystem. Our team provides comprehensive guidance and support through two key funding initiatives: the “Start-Up Enhance” and “Start-up Finance” schemes.

The “Start-Up Enhance” scheme offers up to €400,000 to support start-ups in acquiring the essential tangible and intangible assets required for their operations. Our consultants work closely with entrepreneurs to develop robust business plans, conduct market research, and prepare compelling project proposals that highlight the potential impact and growth prospects of your innovative ideas.

For start-ups with well-defined and economically viable business concepts, the “Start-up Finance” measure provides early-stage funding to further refine and develop your proposals. Our team can assist you by strengthening pitches, developing financial projections, and positioning start-ups for additional funding or equity investment from third-party sources.

Beyond securing funding, IDEA provides ongoing support throughout the start-up journey. Our network of industry experts and mentors offer invaluable guidance on legal and regulatory considerations, intellectual property protection, and strategic partnerships which are critical elements for any start-up, seeking to establish a strong foothold in the market.

Workforce Development

In today’s knowledge-driven economy, investing in human capital is crucial for maintaining a competitive edge. We can assist you in leveraging the “Skills Development” and “Investing in Skills” schemes to support employee training and upskilling programs.

The “Skills Development” scheme encourages your businesses to invest in comprehensive training programs designed to develop and update the knowledge and skills of your workforce. Our consultants together with our colleagues from IDEA College work closely with clients to identify relevant training needs, align these initiatives with organisational goals, and ensure that the proposed programs address skills gaps, facilitate re-skilling efforts, and foster a culture of continuous learning.

The “Investing in Skills” scheme focuses on promoting access to training opportunities for individuals actively participating in the Maltese labour market. We can assist you in leveraging this funding opportunity to enhance the knowledge and skill sets of your employees, ultimately boosting productivity, career prospects, and overall contribution to the organisation.

Our expertise in navigating funding applications and strategies ensures that our clients maximise the impact of these workforce development initiatives, cultivating a highly skilled and adaptable workforce capable of driving innovation and sustaining long-term competitiveness.

Expert Application Guidance

While the wealth of EU and National funding opportunities presents a wealth of potential for Maltese businesses, the application processes can be complex and daunting, often involving intricate eligibility criteria, detailed project proposals, and rigorous financial projections.

This is where our consultants’ extensive experience with EU funding schemes proves invaluable. Our team of consultants is in a position to guide businesses through every stage of the process, from identifying the most suitable funding opportunities and preparing compelling applications to securing approvals and managing post-award compliance with the Grant Agreement.

As an independent consultancy firm, we can provide impartial and objective advice, solely focused on helping you achieve your business goals and secure the resources needed to succeed. Our tailored funding strategies leverage an in-depth understanding of the funding landscape in Malta combined with industry insights, ensuring that you are well-positioned to leverage the most promising opportunities.

Throughout the implementation and execution phases of funded initiatives, we offer comprehensive support in project management. Our experienced consultants can assist you in navigating unforeseen obstacles, be proactive in order to mitigate risks, and ultimately ensure that the project remains on track, whilst adhering to prescribed timelines, budgets, and performance metrics. Moreover, our vast network of industry experts and strategic partners provides access to specialised expertise tailored to your specific sectors or project needs.

The Benefits of Partnering with IDEA

By guiding you in accessing EU and National funding opportunities in Malta, our team unlocks numerous advantages that propel businesses towards sustainable growth and long-term prosperity:

  1. Access to Capital: Securing grants and funding provides the financial resources necessary to invest in growth initiatives, technological advancements, research and development, and other strategic endeavours that may have been previously constrained by budgetary limitations.
  2. Improved Competitiveness: By leveraging funding for digitalisation, employee training, process improvements, and research and development, businesses can enhance their productivity, efficiency, and market positioning, ultimately becoming more competitive within their respective industries and sectors.
  3. Access to Expert Guidance: Working with IDEA Consulting provides businesses with access to a wealth of expertise and strategic guidance, enabling them to navigate the complexities of the funding landscape, develop robust strategies, and maximize the impact of their investments.
  4. Foster Innovation and Growth: Funding programs focused on research and development, start-up support, and innovation can catalyse the creation and commercialisation of new products, services, and business models, driving economic growth and fostering a culture of entrepreneurship within Malta’s business ecosystem.

Embrace the Opportunities

Malta’s diverse funding landscape presents a wealth of opportunities for your business across sectors and growth stages. From established enterprises seeking to digitalise their operations and expand their market reach to budding entrepreneurs with innovative ideas and start-ups poised for rapid growth, the EU and National Funding Programs offer a comprehensive suite of resources to support your ambitions.

By partnering with us, your business will be in a position to navigate the complexities of grant applications and funding strategies with confidence, ensuring we secure the necessary resources to fuel your aspirations. Our commitment to ongoing support, impartial advice, and deep understanding of the funding landscape make us an invaluable partner throughout the entire journey – from initial application to successful project execution and beyond.

Unlocking the power of these funding opportunities is not just about securing financial resources; it’s about igniting a catalyst for innovation, growth, and long-term competitiveness within Malta’s business ecosystem. By embracing these opportunities and partnering with us at IDEA Consulting, your business can pave the way for a future defined by sustainable success, economic prosperity, and a thriving entrepreneurial spirit.

 

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