Funding R&D Initiatives – #RandICafe2017
Malta Enterprise, with the support of the Malta Council of Science and Technology, organised another Research Cafe, focusing on promoting research and development activities in industry. The event was organised as part of the SME Week 2017 programme of activities co-ordinated by the Ministry for the Economy, Investment and Small Business and was also supported by the Enterprise Europe Network.
The programme followed its tagline of ‘we inform & support... you develop’ and gave detailed insight and updates on the various national and EU R&D funding initiatives. Aleardo Furlani, CEO and Founder of INNOVA Spa has been the keynote speaker discussing ways how to transform research into commercial innovation. According to Mr Furlani “for SMEs, it is NOT the survival of the fittest; those who live by the sword (the technology) are best able to adapt”.
A high level panel debate on the challenges and needs for research in industry followed the keynote speeches, along with the participation of local SMEs who have successfully benefited from support and funding offered. An afternoon café setup provided the opportunity for one-to-one meetings and breakout sessions for any information required on funding, tips for success, intellectual property, academic collaboration and access to finance for projects.
During the morning session, Malta Enterprise launched three new schemes:
Aid for Research and Development Projects is a measure that allows companies to claim tax credits on costs incurred directly or indirectly in carrying out an R&D project or projects relevant to the company’s trade. Through this scheme a new approach is being adapted whereby companies can claim tax credits on their R&D within two years from its completion. Nevertheless, one can still submit a pre-proposal prior to incurring any cost to ensure that such project is elgible for funding.
Innovation Aid for SMEs will allow eligible SMEs to recover in the form of tax credits, part of the costs incurred for the temporary engagement of highly qualified personnel from large undertakings and Research and Knowledge-dissemination organisations.
Tax Credits for R&D and Innovation is open to all undertakings that employ for a period of at least twelve months a person holding or reading for a doctoral degree in science, information technology or engineering.
Malta’s SMEs´ innovation performance has improved steadily in recent years driven by the launch of numerous policy measures aimed at increasing the level of research and innovation among SMEs. Malta Enterprise is committed to continually develop new initiatives, including those aimed at promoting R&D.
William Wait, Chairman of Malta Enterprise confirmed Malta Enteprise’s commitment to assit enterprises undertake research and development “as this is the way forward to continue driving our economy to new heights”.
During his address, Jeffrey Pullicino Orlando, Executive Chairman of the Malta Council for Science and Technology said that MCST is working on addressing and bridging gaps in order to incentivise the participation of both the public and the private sectors. Examples include providing guidance and funding to protect intellectual property, helping enterprises become investment-ready and providing internationalisation opportunities for researchers and technologists.