The past few years have seen a great surge in interest by innovative business decision makers looking to leverage technology to achieve smarter, more environmentally-sustainable business processes.
Now, achieving digital transformation has been made even more accessible, thanks to the new Smart and Sustainable Investment Grants scheme, initiated by Malta Enterprise. Aligning with the EU’s vision of championing technology and environmental sustainability, the grant provides financial assistance to Maltese businesses of any size looking to take their first steps towards a green future.
The scheme is comprised of a cash grant of a maximum of €50,000, covering up to 50% of eligible expenditure for projects related to environmental sustainability and technological innovation.
Additionally, eligible projects must be at least €10,000 and must have the aim of achieving sustainability, improving environmental performance or digitisation leading to growth potential.
Specifically, the available investments must be related to the following;
1. Waste Reduction
- The introduction of new industrial solutions to achieve a reduction in the
waste generated unit during production, including the reduction in packaging and increasing life-span of products.
2. Sustainable Materials
- Investments towards the use of more sustainable and/ or ecologically-friendly material.
- Investments may support a change both in materials used during the
production process and also changes to materials used in products so as to
ensure better recovery of material at the product’s end of life. - Supported projects could also include changes to the value chain to ensure
that source materials from ‘green’ sources and verify through certification are used.
- Investments may support a change both in materials used during the
3. Energy Efficiency
- Investments in solution to reduce power requirement in relation to
machinery and lighting, improving insulation of buildings, investments in cogeneration of heat and power and geo-thermal installations.
4. Water Efficiency
- Investments in solutions to improve water usages such as investments in
closed-cycle water systems and investment to store run-off rain water.
5. Sustainable Digitisation
- The adoption of technologies carried out by electronic devices and/or
systems which make it possible to increase product functionality, develop
online services, modernise processes, or migrate to business models based on the
disintermediation of goods production and service delivery, eventually
producing a transformative impact;
- Projects could include:
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- Increase process efficiency through IoT (smart HVAC, system
monitoring etc) - Solutions to establish enhance (optimise) logistics, including
partnering with other firms, resulting in reduction of carbon
emissions - The installation of building management systems to optimise heat,
light and power usage. - Industry 4.0 solutions leading to higher automation and rapid
customer focused customisations.
- Increase process efficiency through IoT (smart HVAC, system
There is no better time to start your digitization efforts than right now, and our experts are here to help. Get in touch with us today to discover how you can utilize this grant for your new digitization project!