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.