€20 million R&D grant scheme launched

The government has launched a €20 million grant scheme for research, development and innovation.

The ‘Business Enhance R&D&I Grant Scheme’ is aimed at providing assistance through a grant to enterprises to part-finance eligible expenditure in investment in research, technological development and innovation whilst it intends to address a number of priority areas identified in the Smart Specialisation Strategy including: Manufacturing, Aviation and Aerospace, Health, ICT, Tourism Product Development, and Maritime Services.

Parliamentary Secretary Aaron Farrugia, who is responsible for EU funds, said the scheme will address the Specific Objective under Operational Programme I, therefore the strengthening of competitiveness of the private sector through R&D&I, by providing finance to enterprises to conduct R&D&I interventions in line with the Smart Specialisation Strategy, this through four specific measures: feasibility Studies in preparation of R&D projects; the implementation of R&D projects; the development of research infrastructures; and investment in Process Innovation.

Speaking at a press conference at the Malta Chamber of Commerce, Aaron Farrugia noted that new business realities create opportunities and that there is a growing consensus that we are witnessing a fundamental transformation in the world of work.

“In a social market economy, we must ensure that these opportunities are available for everyone and do not lead to new vulnerabilities and inequalities and to a lower awareness of rights,” he stated.

“Research, Development and Innovation is the future, not just of Malta, but also of the world. The future of work is already being discussed on a global level, and from what we can see there are certain issues such as automation that require solutions. In other words, we must be innovative if we wish to continue flourishing as an economic centre and as a country”, he said.