€100,000 in funds are up for grabs for those who have a project in mind that would kick off innovative initiatives related to the maritime sector.

Transport Minister Ian Borg, University of Malta’s director for the Corporate Research and Knowledge Transfer Anton Bartolo and Transport Malta Chairman Joseph Bugeja launched the Maritime Proof of Concept Fund on Thursday.

This fund is a government budget measure through which successful applicants can receive up to a maximum of €20,000. 

"The maritime sector generates more than 14% of our gross domestic product and creates thousands of jobs. The registry alone has almost doubled in tonnage in the last seven years, and in just 2019 we had a 7% increase in registrations of both merchant ships and superyachts," Borg said. 

This fund started in 2017, with €300,000 allocated for the last three years and another €300,000 allocated for the coming three years.

Applicants are invited to attend the relevant mandatory online orientation session which will provide further information and offer advice on how to prepare and complete the written applications.

For more information click here.

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