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Malta Chamber: new agreement to support the promotion of startups

A collaboration between Malta Enterprise and the Malta Chamber of Commerce, Enterprise and Industry will see startups benefitting from a new measure set to increase their visibility. The agreement, supported by the Ministry for Energy, Enterprise and Sustainable Development, is another measure in a string of initiatives announced in recent days.

The agreement will allow innovative businesses hosted at the Korradino Business Incubation Center (KBIC) to strengthen their network. Entrepreneurs will benefit from services, rights, and obligations resulting from a partnership with the Malta Chamber. This includes the opportunity to actively participate in internal committees, join the Young Chamber Network, meet established business people, and access international opportunities.

This is also an important step for Malta Business (a member of the Malta Chamber) and its work in supporting new startup projects.

The Memorandum of Understanding was signed by Malta Enterprise CEO Kurt Farrugia, Malta Chamber President Marisa Xuereb and Deputy President Christopher Vassallo Cesareo. Minister Miriam Dalli presided over the signing ceremony.

President of the Malta Chamber Marisa Xuereb explained how these start-ups’ membership within the Malta Chamber will expose them to important contacts, knowledge and discussions in their respective industry.

It will allow them to share their views and not just listen to what others have to say. I believe that this support is essential for these start-ups to grow in a business environment that, over time, is becoming more competitive, and to contribute to a better economic future that our country deserves,Marisa Xuereb said.

With one initiative after another, we are looking at strengthening the foundations for start-ups on four main pillars; access to funding through schemes, mentoring, access to information, and networking,” said Minister Miriam Dalli.

“Malta Enterprise has provided some €6 million in assistance to entrepreneurs under the BStart and Startup Finance schemes in four years. We will continue to encourage businesses to be innovative and continue attracting investment in different and innovative areas such as drones, fintech, AI, augmented reality, and digital gaming sectors.

Mr Cain Grech, head of KBIC, explained how the hub currently hosts 13 companies operating in various sectors, including restoration services, digital game development, cosmetics, forensics, quality controls, and 3D printing, among others.

This agreement follows the launch of the Startinmalta initiative. Malta continues to strengthen the visibility of Maltese start-ups and attract new ones. Additionally, through the agreement between Malta Enterprise and the University of Malta, the TAKEOFF initiative will lead to new start-ups having the necessary knowledge to access different funds and schemes.

To create and grow your startup project from Malta ask the Malta Business Agency team for a consultation.

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