mimcol

  • Home
  • Blog
  • About Us
    • Introduction
    • Who We Are
    • What We Do
    • Our History
    • The Team
  • Public Calls
  • Business Services
    • Business advisory
    • Policy Setting & restructuring
    • Strategic business management
    • Human resources
    • Corporate finance
    • Services for Startups
  • Startups Services
  • Contact us
Blog:
  • News
Friday, 16 August 2019

PRESS RELEASE BY THE MINISTRY FOR THE ECONOMY, INVESTMENT AND SMALL BUSINESSES Minister Cardona launches the Start-Up Malta (SUM) Foundation

During a press conference, Minister for the Economy, Investment and Small Businesses Chris Cardona launched the Start-Up Malta Foundation (SUM) to establish a better and more efficient support system for young and maturing start-ups. The SUM Foundation will be a major policy driver in the implementation of the national start-up strategy, as part of the government’s vision to position Malta as an ideal location for the creation of start-ups, entrepreneurship and innovative ideas.

“Malta’s economy has changed and will continue to change thanks to our hard-working entrepreneurs. These entrepreneurs create jobs, contribute significantly to economic growth and boost innovation. Fostering entrepreneurship must become a visible part of the government’s economic policy”, said the minister.

The main objectives of the foundation will be to promote, research and analyse start-ups, and invest in the creation of an entrepreneurial culture. Through feedback and information gathered from the general public, private and public stakeholders, the foundation will advise the government, for the improvement and promotion of Malta’s entrepreneurial journey through various stages starting from awareness all the way to ideation, enterprise initiation and development, international networking and growth. “We are confident that this will allow for sounder policy-making and improve Malta’s standing as an attractive place to set-up and grow a business”, stated Minister Cardona.

The start-up ecosystem in Malta is in its infancy and has been growing organically, and the foundation will propel its development by bringing together the various strategic efforts in areas which can effectively yield to the creation of more start-ups, and tackle known challenges such as the lack of venture-capital culture and access to finance.

“Fundamentally, the SUM Foundation will be a learning organisation that supports innovative entrepreneurship and the community behind it. We believe that enormous potential still lies locked and undeveloped in our economy”, said Minister Cardona. The minister concluded by inviting all business leaders in a position to contribute to the ecosystem development, to take a more active role in the start-up community, by listening and engaging with local start-ups and supporting them through guidance, vital introductions and networking. “We know that entrepreneurs must lead the start-up community.”

The SUM Foundation is a public organisation and is to be run by a board of administrators, where the government will be represented by MIMCOL as a founder of the foundation.

Go Back
Published in News

More Case Studies

Europe’s moment: repair and prepare for the future generations
His excellency the President of Malta visits the MIMCOL offices
Invest In Malta

Categories

  • Case Studies
  • News

Archives

  • June 2020
  • May 2020
  • November 2019
  • August 2019

Got any questions?

Contact us now for a free consultation.

GET IN TOUCH WITH US
  • Home
  • Blog
  • About Us
  • Public Calls
  • Business Services
  • Startups Services
  • Contact us
Clock Tower, L 1, Tigne Point, Sliema TP01 - Malta
T: +356 2149 7970
E: [email protected]

© 2019 Malta Investment Management Company Limited (MIMCOL)

  • Privacy Policy
  • Cookie Policy
  • Terms & Conditions
TOP
To ensure the best possible user experience, we use cookies. Our Cookies Policy can be found here.View Cookie PolicyAccept Cookies
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Non-necessary

Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.