What are the main benefits and challenges for innovative tech startups in Malta?

The small size of the local market can be both a challenge and a blessing. Startups in Malta must adopt a global mindset from day one, as the local market alone is too limited for substantial growth. Hiring is another challenge due to the limited local talent pool. Additionally, the local startup investment ecosystem is constrained, which means startups often need to seek investment abroad once they reach a certain scale.

However, Malta’s small size also offers advantages. It’s an easily accessible market, useful for piloting new ideas. The island’s high quality of life makes it an attractive place to live and work. Moreover, Malta offers excellent governmental support, and key individuals in policy and innovation are easily reachable, which is invaluable when navigating new regulatory frameworks or seeking strategic backing for novel technologies.

Has it been easy to connect with potential partners, suppliers and clients, and to find employees?

It has been relatively easy to connect with partners, suppliers and potential clients, both locally and abroad. Given the nature of our business, most of these are based outside of Malta, and we are in discussions with some of the largest global brands in a number of verticals. If the product is sufficiently innovative, crossborder collaborations are not an issue. Finding employees with the necessary skillsets and a startup-ready mindset has been more challenging, but it’s a challenge we are continually addressing.

“Malta offers excellent governmental support, and key individuals in policy and innovation are easily reachable, which is invaluable when navigating new regulatory frameworks or seeking strategic backing for novel technologies.”

Have you seen changes to the startup ecosystem over the last years?

Yes, the Maltese startup ecosystem has grown significantly in recent years. The startup framework is expanding into many new areas. Initiatives such as the Startup Festival, the European Startup Summit being held in Malta and the introduction of accelerators like SuperCharger Ventures and Plug and Play have been great additions. Furthermore, the launch of the Malta Venture Capital initiative, along with ongoing support schemes like the TAKEOFF Seed Fund and the MIMCOL Investment Tax Scheme, has added momentum to the local ecosystem, pushing it towards greater maturity and impact.

Malta is also prioritising founder well-being as a central part of its agenda. A strong and healthy founder will undoubtedly result in better business performance. This focus is making Malta unique in the startup ecosystem and, if done correctly, could have a major impact on Malta’s future development.

What advice would you give to any tech entrepreneur considering Malta as a place to establish a business or research facility?

Malta is an excellent location for R&D and tech businesses. Its size allows for focused work and staying under the radar, which can be advantageous when developing new ideas. Government support is strong, and the Mediterranean environment offers a high quality of life. Additionally, Malta’s connectivity to major European hubs makes it a convenient base for business and research development.