Economy Minister Chris Cardona today announced a new scheme in collaboration with Malta Enterprise by which grants reaching a maximum of €25,000 will be given to start-up companies which have a viable concept in store. The scheme is called 'Business Start'.

Addressing the media at the offices of Malta Enterprise in Guardamangia, Dr Cardona said that there are individuals who do not implement their ideas due to a lack of funds.

He said that this was a pity because such individuals have great potential but cannot implement such ideas.

“Businesses deserve all the help possible,” Dr Cardona said.

Those applying for the scheme will be asked to present a business plan and, if this found to be viable, they will be chosen and will be given a €10,000 grant for starters. Dr Cardona said that businesses can receive up to €25,000 each. The funds available for the scheme amount to half a million euros.

The deadline for applications is 30 June, 2016. To qualify for the scheme, companies need to have been registered with the Malta Financial Services Authority in the last five years.

Present for the news conference was ME’s chairman Mario Vella.

Photo: Michael Camilleri