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Innovation Aid for SMEs - An Overview

The Innovate Scheme, launched by Malta Enterprise, is designed to empower small and medium-sized enterprises (SMEs) in Malta by fostering innovation across products, processes, and organizational structures. This scheme aims to enhance business competitiveness by providing financial support for innovative projects, enabling companies to access highly skilled personnel and collaborate with research organizations.

Under the Innovate Scheme, eligible SMEs can receive funding covering up to 50% of qualifying costs, capped at €250,000 per application. For specific innovation advisory and support services, funding can reach 100%, with a cap of €220,000 over a three-year period. Supported projects must begin within 12 months of approval and should be completed within a maximum of 36 months, with extensions available under certain conditions.

Eligible expenses covered by the Innovate Scheme include:

  • Secondment of highly qualified personnel to assist in innovation projects, capped at €2,500 per month.
  • Innovation advisory services such as consultancy, training, and knowledge transfer assistance.
  • Innovation support services like access to data banks, market research, and certification resources.


Applications must be submitted through Malta Enterprise’s client portal before the project begins. Applications are evaluated based on their alignment with the scheme’s objectives, including relevance to innovation, business growth potential, and environmental sustainability.

Tri-Mer Services is ready to assist you in leveraging this opportunity to bring transformative innovation to your enterprise. Contact us today to explore how we can support your business in accessing this valuable incentive and drive your innovation initiatives forward.

 

Download PDF for more information:

Julian Brincat
Manager Advisory

email: incentives@trimerservices.com

Jeanelle Aquilina
Head of Direct Taxation

email: jeanelle.aquilina@trimerservices.com

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Corporate Services

Tri-Mer Services Ltd. is licensed by the MFSA under the Trusts and Trustees Act. Tri-Mer Corporate Services can assist our clients with their company’s daily requirements whilst also providing information on any updates or changes to legislation as well as sound advice to aid the furtherance of one’s business.

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Tri-Mer Audit Ltd. is a medium sized practice of Accountants and Auditors. The firm is designed to give a professional and personalised service to clients and is dedicated to maintain ethical and professional standards. Tri-Mer Audit Ltd. is a growing, progressive firm that will meet the technical standards that every organisation expects. Providing services to a list of prestigious clients, the firm enjoys an excellent reputation which stems from our dedication, professionalism and enthusiasm to serve our clients.

Tax Advisory

Our team of professionals have extensive experience on tax advisory matters, both on local and international tax matters, which will help you achieve your tax objectives. With the taxation sphere constantly evolving, the knowledge and experience of our team will guide you in making the best decision to arrive at the optimal tax solution.

Our tax advisory team offers our clients an extensive range of tax advisory services, including but not limited to:

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We are here to help assist and provide a holistic approach to managing all your tax matters.

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Tri-Mer offers expert, tailor-made advice to expatriates relocating to Malta, by understanding their specific needs and advising them on the options available for the best route to follow.
 
As an Accredited Agent of the Individual Investment Programme and the Malta Residency and Visa Programme, we can assist in obtaining Maltese Citizenship or residence for interested clients.
 
As an Authorised Mandatory of The Residence Programme, The Global Residence Programme, The Malta Retirement Programme and The United Nations Pensions Programme we are able to file applications and obtain the special tax status under these programmes on behalf of our clients.
 
We assist expats in the whole process of settling in Malta, from obtaining the residency card, to tax registration, to the annual tax obligations and anything else the client requires in Malta. We also offer personal taxation, VAT compliance, Social Security compliance and assistance with accounting of expats and locals who are self-employed.

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At Tri-Mer Service we understand the importance of managing your finances with precision and expertise. That’s why we’re excited to introduce our comprehensive accounting services, tailored to meet your unique needs and goals with experienced professionals, personalized approach,  compliance expertise and cost efficiency.

Our Accounting Services Include:

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Payroll

Maximize your company’s potential with our payroll outsourcing services. Trust us to handle your payroll needs efficiently, ensuring accurate, compliant, and timely payments. Focus on growing your business while we take care of your payroll hassles. Contact us today to discover how we can elevate your payroll management.

Our specialized staff will deliver a cost effective, time saving service with the right expertise and compliance.