Accelerate 2024 Scheme

Malta Enterprise has launched the Accelerate 2024 Scheme, (hereinafter, the ‘Scheme’), intended to support eligible undertakings to participate in a recognised accelerator programme.

Applications under this Scheme may be submitted by 31 October 2030.

Eligible undertakings

Eligible undertakings must be established not earlier than seven years from application submission and must have a viable business concept based on sound technical and scientific knowhow and are in the process of developing the technology into a market ready offering.

Such undertakings must be businesses which are established or are to be established within the European Economic Area, and are/will be active in one of the following sectors:

i. Manufacturing;
ii. Software development;
iii. Industrial services analogous to manufacturing;
iv. Health, biotechnology, pharmaceuticals and life sciences; and
v. Other economic activities which are enabled through knowledge and technology, and which have the potential of international expansion.

Accelerator programme and eligible costs

The accelerator programme must be a fixed-term, cohort-based programme designed to accelerate the growth of its participants by providing mentorship, resources, funding and networking opportunities.

The Scheme supports enterprises that have been accepted to participate in a recognised accelerator programme, awarding a grant of up to €100,000 (subject to an overall capping for de minimis assistance of €300,000 over a rolling period of three fiscal years for a single undertaking), to cover the following costs:

i. Accelerator participation and service fees;
ii. Defined air travel costs;
iii. Defined per diem costs;
iv. Applicable fees (not exceeding €5,000) charged by a corporate service provider in relation to the setting up and registration of a business entity in Malta;
v. Rent of business premises, including costs for access to shared offices and similar facilities; and
vi. Rent of plant, machinery and equipment required for validation of proposed product or service.
 

How can we help?

Deloitte Malta is able to assist in answering your queries, so please do not hesitate to reach out to us for any further guidance you may require.

In addition, Deloitte Malta is able to assist with the preparation of the required applications and any supporting documentation, as well as document submission and any required follow-ups.