Government set to fund cool ideas

Tista' taqra bil- Malti.

Government has announced that €100,000 is being made available in TAKEOFF Seed Fund Awards aimed at startups and researchers to develop their ideas. This was made public by Minister for the Economy, Investment and Small Businesses Silvio Schembri launched the TAKEOFF Seed Fund Awards aimed at researchers and entrepreneurs to put forward their innovative ideas and develop them further through the financial assistance provided by this fund. For this fund, a total budget of €100,000 is being allocated and through competitive call, researchers and entrepreneurs can benefit from a maximum of €25,000 to develop further their ideas.

It is in such times of great adversity that the need for revolutionary entrepreneurship and research becomes imperative for any country

Minister Silvio Schembri

Minister Schembri said that the relevance of both researchers and entrepreneurs has never been as significant as these past weeks when the COVID-19 pandemic has disrupted normality. Minister Schembri said that ‘Starting and growing ideas’ has been the government’s ‘unconscious mantra’. University of Malta Rector Prof. Alfred J. Vella stated that “All ventures, whether they stem from university-generated research or are the basis of a newly formed start-up, require support in order to kickstart their development and obtain market validation. Research grants or personal funding may take them quite a long way however, in many cases, this is not enough. We look forward to seeing what proposals this year’s cycle will bring.’

For further details, visit www.takeoff.org.mt