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Minister for Economy, Enterprise and Strategic Projects inaugurates Venture Capital offices in Sliema

On Monday, March 18, 2024, Minister for the Economy, Enterprise and Strategic Projects Silvio Schembri inaugurated the Venture Capital’s offices in Sliema alongside MGI CEO Jesmond Gatt and Malta Venture Capital Senior Consultant Miguel Borg. This inauguration took place following Minister Schembri’s announcement in September last year that the government was allocating €10 million for a venture capital fund to give a helping hand to innovative start-ups.

In recent years, Malta emerged as a hub for venture capital, attracting both local and international investors eager to tap into its promising startup ecosystem.

Malta no doubt offers a favourable business environment, progressive regulatory frameworks, among other advantages which makes it ideal for venture capital investment.

The Maltese government has been proactive in fostering a conducive environment for entrepreneurship and innovation. Initiatives by Malta Enterprise, tech.mt and the Malta Digital Innovation Authority have provided crucial support and guidance for startups, while tax incentives and grants further sweeten the deal for investors.

One of the key drivers behind Malta’s venture capital boom is its thriving technology and gaming sectors. With a growing number of tech startups in fields such as fintech, blockchain, artificial intelligence, and gaming, Malta has positioned itself as a hotspot for innovation. The island’s strong network of incubators, accelerators, and co-working spaces nurtures these startups, facilitating collaboration and growth.

As the ecosystem evolves, Malta’s venture capital journey is poised for even greater heights in the years to come.

Venture Capital eligibility

Eligible companies may include those involved in video game development, fintech, e-sports, life sciences, pharma, green energy, the filming industry, agritech, AI, communications, electronics, financial services, medical devices, software, bluewater industries, and digital technology.

Start-up companies operating in innovative economic sectors will have access to the newly established fund, with each start-up being eligible for up to €500,000 in the form of equity investment. The investment by the fund will be pari-passu with that of private venture capital investors.

The Malta Government Venture Capital Limited will be the sole entity responsible for administering this scheme.

Those interested may request further information by calling on 21497970.

Office
Clock Tower Business Centre, Level 1
Tigne Point, Sliema, TP01
Malta
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