SME Development - Innovative Start-ups

New enterprises need a mix of resources and support in order to flourish. Often, these are not readily available. Most start-ups seek external guidance, assistance and finance.

This scheme aims to support innovative start-up enterprises :

· Innovative Start-up are considered as new enterprises engaged in existing local markets but introducing new perspectives and having the potential to compete in international markets

· Highly Innovative Start-ups are new enterprises engaged in new markets, new technologies, novel products or services and in knowledge based industries that demonstrate a potential for job creation and growth

This incentive provides part-financing of up to Euro15,000 to cover costs incurred by these enterprises during the stetting-up phase. These costs are covered at up to 45% and may include:

· Procurement of Services provided by outside consultants

· Investments in tangible assets

· Investments in intangible assets

Notes:

· A start-up enterprise is an enterprise in its initial five years.

· The cash grants provided through this incentive are only available to innovative enterprises participating in the Innovative Start-ups Program.