During his address at the Investor Connector gathering organised by MIMCOL, and the Malta Innovation Summit, Minister for the Economy, Investment and Small Businesses Chris Cardona said that the Government is determined to mobilise private investment to finance and support startups and early stage growth companies wanting to scale their business.
Startup investors play a major role in the development of the Maltese business environment and contribute to economic development initiatives and the country’s competitiveness. Private investors ultimately power the country’s innovation through their funding of inventors and entrepreneurs that turn ideas into products and services that benefit the end customer.
Minister Cardona said that there are far more startups emerging from the entrepreneurial pipeline than funders available to advance them to the next stage. He added that getting an angel investor community off the ground will mean less liable to lose some of Malta’s best talent. He added that both entrepreneurs and angel investors need the government’s support to combat the prevailing unfavorable investment culture and lack of information, which are some of the most significant impediments for the early stage investment.
Cardona also announced the extension of the Seed Investment Scheme through MIMCOL, which offers tax credits to investors in return for investment in a qualifying Maltese startup.
The Investor Connect event coordinated by the Ministry for the Economy in collaboration with the private sector, was held to bridge the existing gaps between start-ups and investors.