Business Start scheme saw €1.5m in grants given to start-ups between 2015 and 2020

The Business Start scheme saw 62 startups receive a total of €1.5m in grants between 2015 and 2020.

Jason Azzopardi PN MP asked a parliamentary question to Miriam Dalli, Minister for Enterprise and Energy, asking her to provide a list of grants aimed at new and innovative companies, especially those in the technology and ecommerce sectors. He also asked the minister to provide information with regards to the funds awarded.

Minister Dalli mentioned Business Start (2015-2020), which provides seed funding up to a maximum of €25,000. Between 2017 and 2020, the Corporation approved €1.5m in grants to 62 start-ups, the minister said. Nineteen of these companies operate in the technology or e-commerce sectors. In 2017 €500,000 was awarded, in 2018 €375,000, in 2019 €175,000 and in 2020 €500,000.

The minister also mentioned Start-up Finance (2018-2020), which dealt with mezzanine financing that will be paid back depending on how much profit an enterprise makes. From 2017 to 2020, the Corporation approved €4m in assistance to 10 companies, seven of which operate in the technology and e-commerce sectors. In 2018 €200,000 was awarded, 2019 €200,000 and in 2020 €3.6m.

Lastly, the minister mentioned Startup Advance (2018-2020), which finances the development of new enterprises tied to the amount of jobs. Between 2017 and 2020, the Corporation approved €650,000 in grants to seven companies, two of which operate in the technology and e-commerce sector.

The amounts approved in 2019 and 2020 were €146,000 and €499,000 respectively.