Malta has launched the Malta Digital Games Fund offering companies established in Malta the possibility to cover up to three-quarters of the expense incurred in developing new digital games fund. The fund is intended at encouraging digital gaming companies in Malta to increase their research and development while developing products in this industry that has been generating in Europe around €2 billion annually with more than 135 million people worldwide playing video games.
Through this fund, registered companies operating in the media, entertainment, IT or audiovisual sectors may be granted between €15,000 and €50,000 to cover up to 75 per cent of the expense. Funds granted will not be recuperated if the game is not successful.
Eligible expenses include expenses related to the human resources utilized for the development of the game but exclude the equipment used in the said development.
Applications for the said fund must be submitted until the end of January. Thereafter, applications shall be assessed on four criteria, namely, innovation; talent and experience; financial strategy and project potential.
This fund forms part of Malta’s national strategy on digital gaming aimed as reaffirming Malta’s position as an iGaming hub. In addition to the Malta Digital Games fund, Malta digital gaming companies have access to a wide range of incentives at different stages of the product development, including the initial conceptual stage, the research and development as well as the international marketing of the digital gaming product. Schemes available include:
- tax credits for expenditure incurred in acquiring or developing tangible and intangible assets
- financing for new digital gaming start-ups and enterprises engaged in new markets, new technologies, novel products or services that demonstrate a potential for job creation and growth
- taxs credit for research and development of digital gaming projects
- co-financing of wages of employees, leasing of equipment and amenities
- co-financing of costs incurred for market development
Reflecting its increasing presence as a iGaming hub, Malta offers also a highly skilled workforce, including sound designers, musicians, artists, game designers, programmers and level designers, who are equipped with the cross-disciplinary skills that are required by the digital gaming industry.
