Malta as a Tech Start-Up Hub

Malta as a Start-Up hub

Malta has been recently reviewed as part of the 2017 Global Start-up Ecosystem Report. The main question the report tries to answer is that in which country a start-up has the best chance to success and become a global success. The report analysis the ecosystem of each country that is relevant for the development phase of a new company, looking at challenges and opportunities that these companies face.

Malta scored particularly well in talent access, due to it highly educated English-speaking working population as well as due to it being very attractive to expat workers. Various initiatives have been undertaken by the government so as to incentivise fresh tech investment and the opening of new start-up companies in Malta. Currently, Malta currently boasts between 50 and 100 tech start-up companies.

Malta has traditionally been particularly attractive in the gaming and e-gambling segments; recent initiatives aim at increasing the number of successful start-ups and their chance to succeed. Tax credits to support micro enterprises to invest and expand their business have been renewed and complement the Takeoff Business Incubator. The Incubator already hosts over 30 start-up companies which have so far, benefited from investments of over €200,000. This complements the MITA Innovation Hub a purely tech oriented concept which has provided handouts of over €250,000 to 15 Malta start-ups.

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The former scheme aims to assist new companies engaged in engineering design and development, renewable energy resources, biotech projects and other Innovative projects. The Business Incubator provides new companies with tools that assist them during their initial phases and provides services and resource that would otherwise be difficult or expensive to obtain. These include office space, professional image consultancy, management and business running expertise, paperwork assistance and advertising and marketing assistance.

These initiatives are aimed at nurturing the next generation of start-up companies and boost Malta’s presence on the global tech map. Once successfully launched, these companies are then able to then take it to the next level via Malta’s direct access to the European markets.

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