A €50,000 fund is being channeled towards encouraging innovative, creative and technological ideas that can contribute to the economy and society.
In celebration of World Intellectual Property Day on 26 of April, Economy Minister Silvio Schembri has announced the launch of the ‘Malta Intellectual Property Awards’ .
The idea behind the awards is to kindle new ideas and promote the creation of intellectual property despite the COVID-19 pandemic.
“Historically speaking, the most revolutionary ideas were developed during very difficult times, similar to what we are living now," he said.
"I encourage everyone to come forward with their ideas and use these awards as an incentive to develop new ideas for the common good.”
The funding has been split among four awards:
The ‘Award for Creative Initiative’ rewards individuals or enterprises operating in the cultural and creative sectors. The works eligible for this award need to be artistic or audio-visual or a combination thereof.
The ‘Award for Scientific Initiative’ recognises science-based research findings generated by science students, academics and professionals. The initiative could be a new product, a significant improvement of an existing product, a new use of an existing product or a new process.
The ‘Award for Technological Initiative’ requires the development of new and innovative, or step-change improvements, with respect to problem-solving of real commercial or societal challenges.
The outcome should be an innovative technological process or an existing solution that is improved radically for application in a novel situation.
The ‘Award for Emerging Innovation Initiative’ rewards projects that are not created by experienced creative, scientific or professional persons, but which are still promising and innovative.
Guidelines and more details about the awards may be found on www.commerce.gov.mt
‘Intellectual Property’ refers to all pioneered products and works that play a significant role in our daily lives.
Rights accorded by the state to this intellectual property such as copyright, patents, trademarks and registered designs enable businesses, artists and inventors to protect products and creations and also encourage them to invest in innovation and creativity for the benefit of society.