March 8, 2012
Helping SMEs to Internationalise their products
Companies internationalise their operations for many different reasons, both general and specific. The detail reasons may vary over time; however the fundamental reason remains to strengthen the company's overall competitive position-remains largely unchanged.
The ERDF International Competitiveness Grant Scheme is one of the five ERDF schemes that have been launched by Malta Enterprise to support various local enterprises in implementing the aforementioned competitive strategy.
This scheme in particular assists enterprises that are willing to establish a new market, or introduce a new service or product in an existing international market. Moreover, the incentive aims to facilitate the building of internal capacities within the enterprise in order to encourage more enterprises to internationalise.
The aid intensity for items supported under this incentive is set at 50% of the eligible costs:
" Market Development (up to 50%)
Costs under this bracket include translation services; brand development and the design of branding material; as well as costs for the international or national certification of products.
" Engagement of Business Development Manager (up to 50%)
The wage costs of a newly employed business development manager who is domicile in Malta will be part-financed.
" Marketing and Promotional Events (up to 50%)
This scheme also part finances costs incurred in the participation in trade fairs and conferences relevant to the target market. Such costs include the rental of exhibition space / stand; stand construction services; international shipment of exhibits; travel expenses incurred for participation and per diem.
The timeframe for projects benefiting from this incentive is 24 months. The project value minimum (based on eligible expenses) must be at least Euro 50,000. Furthermore, the minimum grant value per project is Euro 25,000 while the resultant maximum grant value is of Euro 100,000.