A new funding scheme has been launched by the Government to incentivise industry to seek technical support from higher education institutions, allowing private entities to benefit up to €40,000.
The Technology Extension Support Programme (TESP) scheme was launched during a press conference by Parliamentary Secretary for Youth, Research and Innovation Keith Azzopardi Tanti.
This scheme forms part of FUSION, the National Funding Programme for Research and innovation administered by the Malta Council for Science and Technology (MCST).
The TESP aims to encourage industry to obtain technical support from higher education institutions to ensure incremental product or process improvement. This scheme is designed to incorporate R&I at all stages of product or process development and support collaborations between public and private entities.
Maltese private entities can benefit up to €40,000 per project over 15 months. The scheme is meant to facilitate investment in research and innovation with the participation of the private sector with innovative projects in various fields.
Parliamentary Secretary Azzopardi Tanti stated that this scheme will help to strengthen the collaboration between the private sector and academics.
“This is another budgetary measure that the Government is fulfilling. It is a clear affirmation that the Government firmly believes in research and innovation which will lead to economic growth,” stated the Parliamentary Secretary.
Addressing the press conference, MCST chairman Tonio Portughese said that the TESP aims to foster partnerships between private entities and higher education institutions. He added that through these effective collaborations, such as those being encouraged in TESP, higher educational institutions can further catalyse a knowledge-based economy, which contributes to a resilient society.
More information about the programme can be found here.
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