The Government of Malta reaffirmed its commitment to establishing Malta as a go-to jurisdiction for start-ups in its Budget for 2023.
During the budget speech that was delivered on 24th October 2022, the Minister for Finance and Employment, Hon. Clyde Caruana announced that a one-stop shop for start-ups is set to be launched within the “Start in Malta” programme currently run by the Malta Enterprise. This one-stop shop will seek to ensure that start-ups receive all the help necessary from pre-incorporation stage to assistance with applications for schemes on offer by the Malta Enterprise as well as by other entities.
Moreover, apart from the schemes and funding that is currently available through the various programmes administered by Malta Enterprise, Small and Medium-sized Enterprises (SMEs) will also be able to benefit from further cash grants through the establishment of a €40 million fund within the Business Enhance Schemes.
Following the acceptance of Malta’s proposal by the European Commission, a Digital Innovation Hub will be also be established, with the aim of providing SMEs and start-ups with the opportunity to streamline their digital processes through Artificial Intelligence, Cyber High Performance Computing and cloud solutions. The Corradino Business Incubation Centre is also set to be revamped and converted into a high-end touchdown facility for innovative start-ups.
How can we help?
Through Mamo TCV Advocates we can support you in launching and scaling your business through a range of legal, corporate and regulatory services.
We have recently launched a Start-up Toolkit with the aim to lower the barriers to entry for start-ups by providing key documentation required at company formation stage and guiding them on how to fulfil their obligations to be in a position to launch their commercial proposition.
Get in touch with us through startups@mamotcv.com to learn more.
Disclaimer: This document does not purport to give legal, financial or tax advice. Should you require further information or legal assistance, please do not hesitate to contact Dr. Michael Psaila or Dr. Martina Bonnici