A new scheme by the name of CYBER+ALT ‘Agħżel Li Tipproteġi’ was launched today by Economy Minister Silvio Schembri and EU funds Parliamentary Secretary Chris Bonett and will be operated by MITA through the National Cybersecurity Coordination Centre.
This incentive seeks to assist Small and Medium-sized Enterprises (SMEs) through non-repayable grants of up to €60,000, to part-finance investment that will enhance their overall level of security and resilience, in order to be in a better position to handle cyber threats and be proactive to meet future challenges. This will improve the capacity of the local organisations whilst increasing the level of investment made in cybersecurity locally.
A total of €2 million are available, half of which are EU funds and the other half are National funds, whereby a minimum of 33 businesses if they obtain the full €60,000 will be granted funds.
Businesses that qualify for the grant will be able to claim up to 80 per cent of costs when they implement projects that enhance their business’s cybersecurity and will get the first 20 per cent of the grant up front, upon signing the contract, to help them begin implementation. In this manner, the scheme encourages more businesses to continue digitalising their operations while investing in solutions that protect the data of their company and its clients, prevents data breaches, data theft, ransomware, and hacks.
All information on this scheme is available on the NCC-MT website: ncc-mita.gov.mt/cyber-alt/.
The CYBER+ALT Grant Scheme is co-funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or the European Cybersecurity Competence Centre. Neither the European Union nor the European Cybersecurity Competence Centre can be held responsible for them.