EU Funding Programme

SME Diversification and Innovation Grant Scheme

This Grant Scheme aims to incentivise SMEs to adapt and become more resilient and address market challenges whilst offering timely support to nurture the right environment towards the potential future business growth of the enterprise. Diversification and innovation are key to the survival of enterprises as such timely realisation and intervention can avoid dire consequences leading to eventual closure or bankruptcy, and enables the enterprise turnaround.

This scheme intends on allowing investment in tangible and intangible assets related to the improved operations, market saturation, and the provision of new products or services. Actions eligible may be related to the diversification of the output of an existing establishment into products or services not previously produced, fundamental change in the overall production process, new economic activity, adoption of solutions that lead to the development of a significantly improved good or service, and the acquisition and integration into the business operation of solutions that are more advanced than current operations.