Malta's bold initiative to commit €30 million to deepen its integration into Europe’s startup ecosystem should grab the attention of entrepreneurs everywhere, especially those seeking fertile grounds for growth. With my extensive background in building startups, mentoring founders, and navigating various European ecosystems, I see this as a powerful case study of how smaller nations can become major players in innovation if they adopt the right strategies. Malta is doing just that: combining government support, EU backing, and a vision to uplift its startup sector into global prominence.
The Startup Scene in Malta: A Rising Star in Europe
Let’s start with the basics. Why should anyone care about Malta’s startup ecosystem? After all, it’s a small island, and you might question its scalability or market size. The truth is, Malta is punching above its weight when it comes to fostering innovation. The Startup Finance Scheme, initiated in 2020, has already attracted €30 million in funding and created over 145 highly skilled jobs with salaries hitting €45,000, double the national average. It’s clear that Malta is committed not only to attracting investment but also to nurturing top talent.
Adding to this success, the country recently retained its position as 4th in Europe for innovative startups, as noted in Malta Vision 2050, its long-term strategic framework aimed at sustainable and inclusive growth. The strategy aligns perfectly with the newly announced €30 million programme, which aims to integrate Malta into larger EU innovation networks, a move particularly beneficial for international startups and entrepreneurs looking to scale rapidly.
Funding, Mentoring, and Internationalization: A Comprehensive Support System
Malta’s collaboration with the European Institute of Innovation and Technology (EIT) is a masterstroke. This €30 million investment isn’t just about throwing money at ideas; it’s a carefully planned three-stage support pipeline offering financial backing, mentoring, and pathways to international expansion. According to the EIT official page, these programmes will eventually position Malta as a gateway into Europe’s most dynamic startup ecosystems. To put this in perspective, Malta now boasts twice the participation rate in EIT programmes compared to its Horizon Europe involvement, a clear signal that this strategy is already paying off.
One success story that exemplifies the potential of Malta’s startup ecosystem is Greenroads, a company leveraging AI to optimize urban mobility. Through EIT funding, Greenroads expanded from being a promising Maltese startup to gaining traction across Europe. This is a profound reminder: geography matters less when you have solid international backing to scale your ideas. Entrepreneurs should absolutely pay attention to opportunities like this.
Why Entrepreneurs Should Place Malta on Their Radar
For entrepreneurs considering expansion, Malta offers something unique: it’s small enough to test ideas thoroughly but connected enough to act as a bridge into Europe’s larger markets. With its Startup Nation Standard, Malta is building more than just financial infrastructure; it’s creating a transparent and accessible environment. In fact, Malta Enterprise’s Start in Malta initiative works to consolidate these benefits under one framework, actively targeting startups across diverse fields including blockchain, AI, and sustainable technologies. If you’re looking for the next emerging hotspot similar to Estonia or Portugal, Malta may well be it.
A Guideline for Entrepreneurs: How to Navigate Malta’s Ecosystem
If you’re inspired by Malta’s new €30 million initiative, here’s how you can leverage its resources for your startup:
- Start Locally, Think Globally: Take advantage of Malta’s new three-stage EIT support pipeline to refine your startup locally before scaling internationally.
- Tap into Malta Enterprise: Familiarize yourself with Malta Enterprise’s Start in Malta page, a tailor-made programme bridging local innovation with international resources.
- Leverage Funding Networks: Partner with ventures like Qamar Ventures, which focus heavily on Malta’s startups across technology and media sectors.
- Get Plugged in at Events: Head to events such as the Startup Festival Malta, a hotspot for networking and pitching your business idea.
- Collaborate with Mentors: Many programmes under Malta’s startup ecosystem include mentorship opportunities, this can help refine your business model before presenting to investors.
Common Mistakes Entrepreneurs Should Avoid
While Malta’s ecosystem brims with opportunity, there are pitfalls to avoid:
- Underestimating its Scale: Entrepreneurs often worry about the ‘small island mentality.’ However, Malta’s direct links to the EU innovation network provide access to investors and markets well beyond its borders.
- Ignoring its Bureaucratic Nuances: Like any nation, Malta has its policies and documentation requirements, work closely with advisors to navigate this smoothly.
- Neglecting Local Collaboration: Too often, startups rush to find international partners while missing out on Malta’s rich local expertise. Building rapport with local entrepreneurs can make your journey significantly easier.
Insights for the Startup Community
Malta is turning itself into a blueprint for smaller nations globally. I’ve seen Portugal make similar strides, especially with its startup infrastructure in Lisbon, but Malta takes this approach one step further by integrating itself into existing European frameworks like EIT RIB. This kind of manoeuver could appeal not only to European entrepreneurs but also founders from the U.S., Australia, and Asia who want an easy entry point into the EU.
As someone who understands how hard it is to break into fragmented ecosystems, I see Malta as an opportunity-packed destination for startup founders who want to move faster and smarter. Smaller ecosystems like Malta’s often act as the perfect incubators for testing digital solutions, refining strategies, and scaling. Remember how Estonia became synonymous with e-governance and tech startups? Malta’s ambition signals a move toward becoming one of the next big hubs.
The Takeaway
Whether you're a solo founder, a corporate startup, or a scaling team looking to enter the EU market, Malta’s €30 million investment in its startup ecosystem is a goldmine of opportunity. By providing access to funding, mentorship, and international networks, Malta isn’t just positioning itself as a side player in Europe; it’s working toward becoming a central hub for innovation.
From my experience building ecosystems and playing multiple roles in entrepreneurship, I strongly advise startup founders and entrepreneurs to keep an eye on Malta. More importantly, don’t wait until the ecosystem is already crowded. Use the new initiative to test your ideas, harness mentorship opportunities, and participate in EU-wide programmes. Malta may be small, but its ambitions, and opportunities, are anything but.
For more information, check out Malta’s innovation ecosystem overview. Malta isn’t just adapting to Europe’s startup scene, it plans to lead it. Are you ready to take the plunge?
FAQ
1. What is Malta’s new €30 million programme for startups?
Malta's €30 million initiative, supported by the European Institute of Innovation and Technology (EIT), aims to fund, mentor, and internationalize local startups, integrating them into larger EU innovation ecosystems. Read about Malta’s €30 million programme
2. How is Malta utilizing the EIT Regional Innovation Booster (RIB)?
Malta is running a three-stage programme through EIT RIB to provide scaling support, mentoring, and funding pathways to move startups from idea to commercialization. Learn about EIT RIB
3. Which sectors benefit the most from Malta’s startup ecosystem?
Key focus areas include blockchain, AI, sustainable technologies, and urban mobility solutions like Greenroads. Explore Malta’s startup landscape
4. What success stories highlight Malta’s startup ecosystem growth?
Greenroads, an AI-driven urban mobility company, expanded internationally through EIT funding after gaining traction locally. Learn about Greenroads
5. What is Malta’s ranking in Europe for startups?
Malta has ranked 4th in Europe for innovative startups, showcasing its growing economic dynamism. Discover Malta’s ranking
6. How is Malta’s Startup Finance Scheme impacting local businesses?
Since 2020, this scheme has approved 66 projects, creating 145 highly skilled jobs and doubling average salaries in the startup ecosystem. Find details about Malta’s Startup Finance Scheme
7. What is the role of Malta Enterprise in supporting startups?
Malta Enterprise is central to fostering innovation, facilitating access to local programmes, and connecting startups to global resources. Explore Malta Enterprise’s work
8. How does Malta integrate into EU innovation networks?
Through focused collaboration with EIT programmes, Malta has achieved twice the participation rate in EIT activities compared to Horizon Europe. Learn how Malta integrates into EU networks
9. Which organizations are investing heavily in Malta’s startups?
Qamar Ventures has put €10 million into Malta’s media, technology, and sports tech sectors. Read about Qamar Ventures
10. What events promote Malta’s startup community globally?
Events like Startup Festival Malta and EU-Startups Summit create networking opportunities for founders, investors, and policymakers. Check out Startup Festival Malta
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.