S.L. 463.44 Art. 3Qualifying enterprises.

(1) An SME may seek support from a research and knowledge dissemination organisation to actively engage in innovation activities, to access expertise, knowledge and resources to develop new, innovative and improved products, processes and services.

(2) Where the Corporation is satisfied that an SME is carrying out an innovative project, the Corporation may provide such an undertaking with financial assistance in accordance with the terms and conditions set out in the Guidelines.

(3) An eligible undertaking shall only qualify for a cash grant if such project leads to the creation, development and implementation of a new product, process or service with the aim of MEDIUM SIZED ENTERPRISES (SMES) improving efficiency, effectiveness or competitive advantage.