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Malta Business Review
Malta’s growing tech community in Lisbon for Web Summit
Minister for the Digital Economy meets Maltese start-ups
More than 150 delegates from Malta
participated in this year’s Web Summit,
an annual event that brings together techrelated
interests from across the globe. It
is Europe’s largest technology marketplace
where current and future trends are
explored and some of the most promising
tech start-up concepts are showcased.
Tech start-ups are businesses that
leverage ICTs to execute a repeatable
and scalable business model. Start-ups
typically come from humble origins, with
small entrepreneurial teams passionate
about turning a novel idea into a market
innovation. By attracting venture
investment, start-ups deploy scaling
strategies to quickly transition from a new
venture, to established market leaders.
Companies like Spotify, Airbnb and Uber
were all once a tech start-up pursuing such
a strategy.
Malta’s presence in this year’s Web
Summit was strengthened through the
setting up of a dedicated Malta booth the
event exhibition area and the participation
of a significant number of Maltese
companies. The Malta booth managed
and manned by representatives from
the Malta Communications Authority,
MIMCOL and TradeMalta was aimed at
promoting Malta as an ideal location for
starting a digital business and showcasing
Malta-based start-ups. Seven Maltese
companies were given the opportunity
to pitch their concept through the
Alpha programme, with six benefitting
from the internationalisation incentives
administered by TradeMalta.
Minister for Competitiveness and Digital,
Maritime and Services Economy Emmanuel
Mallia was also invited by the organisers
to take part in roundtable policy dialogue
with other European policy stakeholders.
His presence was particularly valued in
view of the imminent European Presidency
that has the Digital Single Market and
the evermore competitive digital global
economy high on the agenda.
In a meeting with the tech entrepreneurs,
Minister Mallia lauded the ambition
and creativity of these individuals. He
welcomed Malta’s strong presence in such
an important European event, arguing that
this augurs well for Malta’s future ability to
compete in the international digital scene.
He added that Malta is more than ready to
Minister for Competitiveness and Digital, Maritime and Services Economy Emmanuel Mallia
Photo: DOI-Reuben Piscopo
welcome any start-up. He also encouraged
Maltese nationals not to shy away from
the world of entrepreneurship, to be
ambitious and to think global.
Future technologies, such as advanced
robotics and self-driving cars, as well
as business opportunities related to
finance, internet of things and content
were the main themes addressed at Web
Summit 2016. Attendees also engaged
in discussions on the changing worlds
of sports, music and health. The “startup
university” provided delegates with
insights on successfully starting up and
growing a new tech venture.
Web Summit was held in Lisbon between
the 8 and 10 November and was attended
by 53,000 delegates from 166 countries.
Events like Web Summit are important as
they aid tech start-ups grow their network,
validate their business models and attract
investment. MBR
Courtesy: DOI/THE MINISTRY FOR COMPETITIVENESS
AND DIGITAL, MARITIME AND SERVICES ECONOMY
www.maltabusinessreview.net
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