Malta Enterprise
- Founded
- 2004-01-01 in Malta
- Headquarters
- Pietà, Malta
Malta Enterprise is the national economic development agency of Malta, wholly owned by the Government of Malta. Established in its current form in January 2004, it succeeded the Malta Development Corporation (MDC), which was founded in 1967. The agency’s primary mission is to attract foreign direct investment (FDI) into Malta and to facilitate the sustainable growth of existing local businesses. It serves as the primary interface for investors and entrepreneurs, offering a wide range of financial incentives, support schemes, and advisory services designed to foster innovation, job creation, and economic diversification. Operating under the guidance of a Chairman and a Board of Directors, with day-to-day management led by a Chief Executive Officer, Malta Enterprise works closely with private-sector stakeholders, educational institutions, and other government entities. Its portfolio includes managing the Kordin Business Incubation Centre, a hub for start-ups in advanced manufacturing and digital sectors, and operating the “Business First” one-stop shop which streamlines administrative procedures for business setup. The agency is also Malta’s national contact point for the Enterprise Europe Network. Key support programmes include the Business Development Scheme, Business Start, the Smart & Sustainable Investment Grant, Accelerate 2024, the Research Exploration Grant, and the Invest Scheme. As of 2025, the CEO is George Gregory.
Detailed Review
History and Founding
Malta Enterprise traces its origins to the Malta Development Corporation (MDC), established in 1967 to drive industrialisation in Malta. In January 2004, the MDC was restructured and replaced by Malta Enterprise, with a broader mandate focused on innovation and high-value-added activities beyond traditional manufacturing. The agency is wholly owned by the Government of Malta and operates from its headquarters in Pietà.
Business Model and Key Functions
Malta Enterprise is the primary instrument for Malta’s economic development strategy, acting as a government-owned corporation that designs and delivers both fiscal and non-fiscal incentives to businesses. It targets a wide spectrum of industries including manufacturing, ICT, pharmaceuticals, aviation, maritime services, and iGaming. The agency earns no direct revenue from its services; it is funded by the government to administer grants, tax credits, loan guarantees, and other support schemes. Its core functions include attracting foreign direct investment (FDI), supporting local business expansion and transformation, and managing industrial space.
Products and Platforms
Malta Enterprise administers a suite of support measures. Notable current programmes include the Business Development Scheme for value-added projects; Business Start for early-stage financing of micro-enterprises; Accelerate 2024 providing up to €100,000 for start-ups in recognised accelerators; Smart & Sustainable Investment Grant for digital and green investments; Research Exploration Grant for strategic R&D planning; Family Business Grant for succession planning; Invest Scheme offering loan guarantees, cash grants, and tax credits until September 2026; and the Micro-Invest Scheme extended to 2030 with revised thresholds. The agency also operates the Kordin Business Incubation Centre (KBIC) – a physical incubator for start-ups in manufacturing, life sciences, digital games, and 3D printing – and the Business First (B1st) one-stop shop for business setup and permits.
Market Position and Competition
As the sole national economic development agency in Malta, Malta Enterprise holds a unique position with no direct competitors. Its role complements other government entities such as Malta Gaming Authority (for iGaming) and Malta Financial Services Authority (for financial services). The agency competes indirectly with other European development agencies (e.g., Enterprise Ireland, Business Finland) in attracting mobile FDI, but its primary focus remains the Maltese economy.
Leadership and Governance
The agency is led by CEO George Gregory, appointed in 2024, succeeding Kurt Farrugia (CEO from 2019). The Chairman is William Wait. The leadership team includes Chief Officers Brian Camilleri, Karl Herrera (Incentives Development), and Ingrid Vella. The Board of Directors comprises nine members including Andre Psaila, Roberta Albanese Dalli, Beppe Muscat, Christopher Vassallo Cesareo, Jessica Camilleri, Michael Grech, Dr. Michele Cardinali, Brian Muscat, and Terry Zammit. The organisational structure is partially publicly disclosed; no CTO, CCO, or COO roles are confirmed.
Recent Strategic Direction
In recent years, Malta Enterprise has intensified its focus on high-tech sectors such as blockchain, artificial intelligence, and digital gaming, aligning with Malta’s “Blockchain Island” ambition. The agency has reaffirmed long-running schemes and extended their deadlines. Under CEO George Gregory, the agency has emphasised its role in international business delegations and managed the national pavilion at Expo 2025 Osaka. Malta Enterprise remains central to Malta’s post-pandemic economic recovery, supporting both FDI attraction and indigenous business transformation.
Key Products
Enterprise Europe Network – Malta Contact Point
Connects Maltese businesses with partners in 60+ countries for technology transfer, trade, and R&D collaboration.
Kordin Business Incubation Centre (KBIC)
A managed incubation hub offering affordable space, shared services, and mentoring for innovative startups in sectors like manufacturing, life sciences, digital games, and 3D printing.
Business First (B1st)
A government one‑stop shop for business registration, licensing, and regulatory procedures, simplifying the process of setting up and operating a company in Malta.
Business Development Scheme
Financial support (grants/tax credits) for value‑added projects including expansions, transformations, and new business initiatives.
Business Start
Early‑stage financing (up to €100,000) for small startups to develop their business concept before seeking third‑party funding.
Accelerate 2024
Funding (up to €100,000) for enterprises within their first seven years to participate in Malta Enterprise‑recognised accelerator programmes.
Smart & Sustainable Investment Grant
Co‑financing for capital investments in technology, equipment, and sustainable practices.
Research Exploration Grant
Funding for early‑stage R&D planning, encouraging strategic innovation and collaboration.
Family Business Grant
Part‑financing for advisory and mediation services related to succession planning and ownership transfer.
Skills Development Scheme
Co‑financing for employee training and upskilling programmes.
Microinvest
Small grants for micro‑enterprises to invest in equipment, digitalisation, and commercial premises.
EUREKA Instruments
Participation support for EUREKA network projects, Eurostars, and Innowwide, awarding the EUREKA label to innovative fast‑track products.
Skills Development
A scheme to help enterprises upgrade workforce skills and competences.
Invest Scheme
Loan guarantees, interest subsidies, cash grants, and tax credits for initial investments (valid until 30 Sep 2026).
Micro-Invest Scheme
Grants for micro-enterprises (extended to 2030 with revised thresholds).
Key Persons
- George Gregory
Chief Executive Officer