64
SHOWCASEMALTA
EXPO 2020 DUBAI
A healthy ecosystem allows for a positive and virtuous cycle of economic development and progress, and angel investment is thought to be the foundation to accomplishing this for Malta. “As a result, we are presently reviewing the framework that governs angel investment in our local ecosystem, and we believe there is opportunity for improvement to develop this sector of our economy as a new niche market,” said Ms Farrugia. At the forefront of regulation
Tech.mt CEO said that local and foreign start-ups have taken root in Malta like nowhere else in the EU, drawn by competitive taxes and the country’s abundant natural attractions. Other technological expertise has also thrived in the country. “Malta became recognized for its blockchain endeavours, not by coincidence since the country was possibly the first and the most efficient in the world to establish a clear and appealing legal framework for this emerging technology,” asserted Ms Farrugia. Meanwhile, Artificial Intelligence has been very much in the government’s cross hairs with a national policy announced in October 2019, based on three strategic pillars: investment, start-ups and innovation, and adoption by both the public and private sectors. Malta was the first jurisdiction to develop a regulatory framework for DLTs. Malta became the first country in the world to develop a comprehensive legal framework for the regulation of cryptocurrency service providers and cryptocurrency initial offerings. Three separate pieces of legislation were introduced to safeguard investors and support growth of the tech industry: the setup of The Malta Digital Innovation Authority (MDIA) as regulator, the enactment of The Innovative Technology Arrangements and Services (ITAS) Act and The Virtual Financial Assets (VFA) Act which sets out the framework for Initial Coin Offerings (ICOs) and the regulatory regime for the provision of certain services in relation to virtual assets Tech.mt enhances potential
“The mission of Tech.mt revolves around the fundamental principle of enhancing Malta’s attractiveness for foreign direct investments as well as facilitating international business development and innovation,” said Ms Farrugia. She listed various ways in which Tech.mt helps potential investors: • Pointing the investor in the right direction to help the technology sector expand and thrive. Tech.mt is dedicated to assisting Maltabased technology firms in exporting their technologies, as well as establishing export sales channels for the technology industry. • Tech.mt is committed to providing Industry Connections to stimulate the local technology business by hosting events on key tech areas. This will offer businesses with an excellent opportunity to network, as well as a window of opportunity to make new connections. • Tech.mt acts as an intermediary to facilitate Internationalisation of connections to ensure excellent client relationship management through our personalised advisory services. • For the past year, Tech.mt has been working hard to attract venture capital and angel investment as an alternate source of funding for start-ups. Tech.mt will assist in applying and attaining the right funding in order to introduce new niches for possible consumer investment. In addition, it will bring together investment and the local start-up ecosystem. “Tech.mt strives to present Malta as a high-quality, creative, and tech-savvy country and promote Malta as a suitable location for foreign direct investment while also promoting local technological enterprises overseas,” concluded Ms Dana Farrugia. n
j Tech.mt strives to present
Malta as a high-quality, creative, and tech-savvy country and promote Malta as a suitable location for foreign direct investment while also promoting local technological enterprises overseas.
For further assistance contact Tech.mt on: Email: techmt.contact@tech.mt Phone: +356 22262100 Facebook: @Tech.mtMalta Instagram: @tech.mtmalta LinkdIn: linkedin.com/company/tech-mt
