Malta Secures €30 Million EIT Boost to Accelerate Startup Growth

Maltese startups are set to receive a significant €30 million boost following the signing of a new Memorandum of Understanding (MoU) between the European Institute of Innovation and Technology (EIT) and the Government of Malta to launch the EIT Regional Innovation Booster (EIT RIB) pilot in 2026.

Announced in Budapest at the EIT Innovation Awards, the agreement establishes a three-stage support programme designed to help early-stage Maltese ventures scale, internationalise, and secure investment through enhanced funding mechanisms.

The timing is particularly significant as Malta has recently retained fourth place in Europe for innovative startups, according to the 2024 Startup Nations Standard Report. This recognition underscores the island's growing reputation as a dynamic hub for startups within the European small business ecosystem.

Martin Kern, Director of the EIT, welcomed Malta's participation, noting that "it gives Maltese innovators a tool to expand internationally and receive the support of the whole EIT Community, ensuring innovative solutions can scale and make an impact."

Malta's public-backed Startup Finance Scheme has already approved 66 projects since 2020, mobilising approximately €30 million and creating more than 145 high-quality jobs. Meanwhile, private investment is gaining momentum, with funds like Qamar Ventures planning to inject €10 million into the country in a variety of sectors.

Alongside both public and private initiatives, this year has been defined by several events focused on supporting the startup sector and encouraging knowledge sharing within the industry. Both the Startup Festival Malta and the EU-Startups Summit attracted thousands of participants from around the world, shining a light on the country’s growing entrepreneurial community.

Silvio Scerri, CEO at Xjenza Malta, emphasised that the EIT initiative "will offer guidance, funding and expert advice to make ideas commercially viable and ready for internationalisation."

With the EIT having already granted over €3.4 million since 2021 and Malta boasting the highest per capita participation rate in EIT programmes, this new Malta startup funding injection could transform early-stage ventures into internationally competitive companies.