New regulations to support startups soon to be announced
Prime minister Robert Abela announced the scheme at the beginning of the EU-Startups Summit, a private convention
The government will soon introduce new startup framework regulations in a bid to encourage more new businesses in Malta, the Prime Minister's Office said on Thursday.
“These regulations will lead to the setting up of the national startup one-stop shop. Companies meeting the eligibility criteria that define a startup will be able to access purposely developed support,” the OPM said in a statement.
“These new regulations are designed to provide necessary clarity and support to the startup community. This is Malta saying: We are here. We are open. And we are ready to build with you,” Robert Abela said.
Prime Minister Robert Abela announced the scheme at the beginning of the EU-Startups Summit, a private convention that has brought together 2,000 participants including entrepreneurs and investors.
In his address to the conference, Abela said that Malta’s economy has transformed in the last decade from a traditional model to a “dynamic hub for innovation.”
“Innovation must be open to everyone. It should not be confined to large capitals or privileged backgrounds. Talent is everywhere, and Malta is determined to give it a home,” Abela said.
Abela said that Malta Enterprise has supported over 190 startups since 2020, which have led to “hundreds of high-quality jobs” across several sectors.
Abela added that Malta’s long-term vision gives startups an important role:
“Through our national long-term strategy – Malta Vision 2050 – we are building a sustainable, innovation-led economy that is resilient to shocks and ready for opportunities. Startups are at the heart of that future,” he said.
Ekaterina Zaharieva, the new European Commissioner for Startups, Research & Innovation, and other influential unicorn-company founders were also at the event.