MCST launches support scheme to help local SMEs obtain thousands in EU funds for innovation

The Malta Council for Science and Technology (MCST) has launched a new Horizon support scheme allowing SMEs and other entities to apply for up to €10,000 in EU funds.

Successful applicants for the support scheme may use the funds to access proposal development support from specialised proposal writers, and business/pitch-coaching from experienced service providers.

The support scheme was created to foster the participation of Maltese entities in the European Innovation Programme (EIC) which is the largest European SME innovation funding instrument, having an allocated budget of €10 billion. It provides grants of up to three million euros and enables access to an additional €15 million in equity investment funding.

The MCST has also reviewed its EIC Accelerator support scheme, by widening its scope to cover applicants who wish to apply for funding opportunities in earlier stages of technological development, and making it accessible to other entities such as universities.

The push for innovation is part of the European Union's Horizon Europe project. A massive funding programme with a budget of €95.5 billion, aimed at boosting research and development within the EU.

On 31st January 2023, the MCST closed its public consultation on its national research and innovation strategy for 2023-2027, which prioritised addressing underfunding in the sector. By encouraging local entities to apply for funding it may bridge the gap between the status quo and the goal.