EU Funding for Business: A Digital Transformation and Automation Guide

EU-Approved Funding Overview

The European Union has allocated substantial funding to bolster business growth and innovation over the next five years. These funds are designed to support various initiatives, encompassing assistance for startups and established businesses embarking on digitalisation and other innovative ventures.

Part of the requirements to receive said funding is the provision of a detailed proposal that illustrates the way the funds will be used. As part of our process, we provide a commitment-free proposal for digital transformation projects that can be used to apply for EU funding, which can then be allocated to substantially offset the cost of the implementation phase.

Disclaimer: Please note that while we, at Cleverbit, specialise in tailored software solutions, we are not grant consultants or funding specialists. However, we play a crucial role in EU funding applications by providing detailed solution design, scope, and cost estimations, which are essential components of the application process. We also collaborate with funding specialists like Dr. Edward Firman, who is also a co-writer of this article, to offer further assistance and expertise surrounding the intricacies of the application process.

Available Schemes

A number of schemes are available to help you transform your business. Here are a few of the relevant ones.

Business Consultancy Scheme

This scheme offers strategic support for businesses to develop a Business Plan and to review their Processes and Systems to support their strategy.
It involves funds for consulting services which have a value of up to €5000; wherein you contribute €1000 and the EU subsidises €4000.

Specific funds for startups and established businesses targeting digitalisation initiatives.

Digitalisation Schemes

There are two main categories:

Micro Businesses – Assisting small enterprises with up to 10 employees and balance sheets not exceeding €2 million per year, by providing a grant of 50% of the eligible expenses up to a maximum of €10k. The eligible expenses include commercial off-the-shelf software and hardware.
Standard Scheme – Offering a 50% cost cover up to a maximum of €50k grant for IT investments, which includes both commercial off-the-shelf and custom software development.

Investment Schemes

Here there are two main categories to consider:

Startup Scheme – This fund assists startup businesses and covers 50% of CapEx expenditure costs with a minimum grant value of €10,000 and a maximum of €400,000, plus 20% of qualifying leasing costs, enabling startup companies to access finance, exploit their ideas and sustain their survival during their early years.
Standard Scheme – This fund covers 50% of CapEx expenditure costs with a minimum grant value of €10,000 and a maximum of €120,000, plus 20% of qualifying leasing costs, enabling SMEs to expand, diversify and innovate.

What we can help you with

At Cleverbit Software we believe in having a conversation and assisting our clients to transition from a business idea or being trapped by inefficient business processes, to building cost-effective solutions that support their business strategy, for efficiency and growth.

With this in mind, we offer our clients a risk-free proposal whereby we fully understand their needs and deliver a comprehensive solution proposal which outlines the solution design, effort estimation, cost and a clear plan on how to get there. There is no charge for this, only once the client has accepted the proposal, do we sign contracts and start the project development.

Clients who are interested in applying for EU Funding schemes can use our proposal for their application.

We specialise in business intelligence software that helps you make data-driven decisions through real-time dashboards. Our business automation service streamlines your processes and cuts down on manual tasks. Whether you need a project built from scratch or an existing one improved, we focus on delivering tailored solutions with an eye on your return on investment. We can also extend your software development team to accelerate project delivery.

Conclusion

Unlock the potential of EU-approved funding to elevate your digital transformation or business automation projects. As your partner in formulating in-depth technical solutions and providing transparent cost estimates, submit your application with assurance.

Founded in 2016 and headquartered in Malta, Cleverbit Software is a prominent custom software development company, employing over 70 skilled professionals across Europe. Specialising in custom software for business efficiency, we cater to a diverse international clientele, including sectors in Malta, Luxembourg, Denmark, the United States, and the United Kingdom. Our commitment to delivering tailored, industry-specific software solutions makes us a trusted partner in driving business innovation and efficiency.

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EU Funding for Business: A Digital Transformation and Automation Guide

In this article:

EU-Approved Funding Overview

Available Schemes

What we can help you with

Conclusion