MCST launches new support scheme to help SMEs and other entities obtain European Innovation Council funding for breakthrough ideas

The Malta Council for Science and Technology (MCST) launched a new Horizon support scheme aimed at supporting and increasing the participation of Maltese entities in the European Innovation Programme (EIC) under the Horizon Europe banner, the European Union’s main funding instrument for research and innovation.

The support scheme will allow participants to apply for up to €10,000m for the purpose of receiving proposal development support from specialised proposal writers and business- or pitch-coaching from experienced service providers. This support is intended to help innovative SMEs or other coordinating entities such as universities, to increase their chances of success.

The EIC is the largest European SME innovation funding instrument, having a €10bn budget. Its programmes – Pathfinder, Transition and Accelerator – cover all technology development stages, from conception to scale-up. To support Maltese applicants’ success in applying for these programmes, MCST has reviewed its EIC Accelerator Support Scheme, widening its scope to cover applicants who wish to apply for Pathfinder and Transition opportunities in earlier technology development levels.

Primarily aimed at SMEs, but also open to other types of entities like universities or research centres, EIC provides grants of up to €3m, the possibility of accessing up to €15m equity investment, as well as a range of other business support services. Being a highly competitive fund, MCST’s timely reform of this support scheme will give more Maltese businesses and researchers a better chance in their endeavours to acquire EU funding.