The CYBER+ALT Grant Scheme presents a valuable funding opportunity for Malta’s small and medium-sized enterprises (SMEs) to bolster their cybersecurity solutions. This program aims to enhance business operations and safeguard critical data from cyber threats. In this blog, we will delve into the program’s key aspects, such as its objectives, eligibility criteria, funding details, and application process, specifically catering to SMEs in Malta seeking EU funding support for cybersecurity initiatives.
The CYBER+ALT Grant Scheme is a purpose-built initiative, encouraging the development of innovative cybersecurity solutions in Malta. It actively promotes SMEs’ investments in cutting-edge cybersecurity measures to fortify their businesses and foster the dissemination of such solutions within the Maltese economy.
Under this scheme, eligible SMEs can receive grants of up to €60,000, with an aid intensity of up to 80% of the total eligible cost, adjusted for depreciation. The program operates on a demand-driven basis, wherein the National Cybersecurity Centre (NCC) releases a rolling call for eligible undertakings to submit their applications. Applications are meticulously assessed and evaluated, with successful projects awarded grants on a first-come, first-served basis, subject to budget availability.
To be eligible for the CYBER+ALT Grant Scheme, companies must qualify as locally established SMEs per the EU recommendation 2003/361. SMEs fall into three categories: medium-sized enterprises (employing fewer than 250 people, with a turnover under €50 million or a balance sheet total below €43 million), small enterprises (employing fewer than 50 people, with a turnover or balance sheet total below €10 million), and micro-enterprises (employing fewer than 10 people, with a turnover or balance sheet total below €2 million).
Furthermore, eligible companies must demonstrate their capability to privately finance at least 20% of the eligible purchase cost of the project. This financial contribution can be through their resources or external financing without public support.
In conclusion, the CYBER+ALT Grant Scheme is an unparalleled opportunity for Maltese SMEs to bolster their cybersecurity endeavours and safeguard their business operations. Offering grants of up to €60,000, representing an aid intensity of up to 80%, this program aims to drive the widespread adoption of state-of-the-art cybersecurity solutions across Malta’s SME sector. The scheme operates until 29th December 2023 or until funds are available, giving SMEs ample time to explore this funding avenue. To seize this opportunity, interested SMEs should carefully review the implementation guidelines issued by the NCC and ensure they meet all eligibility criteria before submitting their applications.
If you require any help or need further information about the CYBER+ALT Grant Scheme, feel free to call us on 2018 8600 or send us an email at info@ewropa.mt.
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