Innovators and entrepreneurs have been selected and will be able to tap a total of €100,000 to get their ideas off the ground. Their projects range from an airline fuel optimisation tool to a 3D printer chemical.
The Take Off Seed Fund Award was held by the University and the Economy Ministry to help them move promising ideas toward commercialisation and set up high-growth businesses in Malta. There were 49 applications.
The beneficiaries of proof of concept funding were the commercialisation of a flight optimisation tool, estimated to allow airlines savings of up to 75kg of fuel, which was awarded €19,500; Micro-CHP (€20,000), which proposed a heating system which increases the overall energy efficiency of a generator from about 35 per cent to more than 85 per cent; and for Fluorescent Molecular Probes for sensing pH and pE in living cells (€6,000).
Projects range from an airline fuel optimisation tool to a 3D printer chemical
Under the seed fund category, Thought3D got €15,500 for commercialising their Magigoo product, which helps printing compounds adhere to base plates of 3D printers; along with Studio Fondue (€7,000) for their choice-based, pay-to-play adventure game The Adventures of Scottie; while lift-sharing app Bum a Lift, who are supported by Transport Malta, got €10,000.
Other winners were Wormiculture with their sustainable and commercially viable vermicompost process (€15,000) and LawSwot.com (€7,000) service which helps legal firms to nurture law students with outstanding talent.
The beneficiaries’ progress will be monitored by Take Off, the university’s business incubation centre, and the ministry. “The quality of entries is such that we are seeking further funds to be able to assist budding entrepreneurs, ” said Take Off manager Andy Linnas.
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