Last Friday, at the EU-Startups Summit during the Tokeportal.com Crowdfunding Platform launch, I took the stage to deliver a keynote about something I am really passionate about: Malta’s startup ecosystem. I started off by describing it as a newborn still in its infancy. On a good day, it’s a toddler — energetic, curious, full of promise — but still finding its footing. And that’s not a criticism. It’s the honest starting point of any serious conversation about where we are and where we need to go.
Solid Foundation
There’s no doubt that Malta has built a solid foundation. In recent years, we have seen an impressive leap forward through an array of grants, support schemes, venture funding initiatives, the startinmalta brand, startup festivals, tax and fiscal incentives, innovation hubs and coworking hubs come to life. In addition to that, our strategic location, English-speaking workforce, and close access to policymakers give us a distinct advantage in Europe and beyond. We’ve shown that we know how to set the table for innovation.
But setting the table is not enough. The harder question — and the more important one — is whether we are ready to build something truly world-class. Because if we are honest with ourselves, we know that we are not there yet.
Too many local founders still struggle to access early-stage funding. Too many promising ideas get bogged down in regulatory hurdles. Too often, young people are encouraged to choose safety over boldness, conventional careers over entrepreneurial risk. Fragmentation remains a major issue, and while government initiatives help, they cannot replace the energy and momentum that come from a truly connected ecosystem. An ecosystem that encourages risk-taking, embraces failure as part of the journey, rewards collaboration and invests in ideas.
Small but Bold
What many see as Malta’s greatest weakness — our small size — is, in fact, our greatest strength, if we choose to see it that way. Our compact market makes us an ideal testbed for emerging technologies like AI, IoT, Drones, Web3, and alternative business models. We can innovate faster, adapt quicker, and create smarter — but only if we are willing to accept that failure will be part of the process. Failure is not a threat. It is tuition. It is the cost of building something real.
The future of Malta’s startup ecosystem will not be dictated by policy documents or strategic frameworks, albeit they certainly help. Real ecosystems are not engineered from the top down; they emerge from the bottom up. They are messy, energetic, driven by founders, investors, educators, students, corporates, and supporters who collaborate because they believe in something bigger than themselves.
Room for growth
1. Educate and Encourage Retail Investors
Malta has the most liquid banks in Europe with over €24billions in deposits, of which €17.5billions are household savings. Imagine if a small fraction of this money is invested in ideas, instead of lying there losing value through inflation. The launch of an investing crowdfunding platform will help but we need to embark in a financial literacy educational campaign for retail investors.
2. Entrepreneurship Education
The EU commission back in 2013 had suggested that by 2020 every student should go through a practical experience in Entrepreneurship during compulsory schooling, similar to the JA Malta Foundation Company Programme. Imagine having a generation of students embarking in innovation camps to solve our societal problems and bringing the solutions to the market.
3. Teenage Entrepreneurship
Currently you have to be 18 to be able to open up a small business or be self-employed even though you can vote and become a mayor at 16. This is an additional barrier that make youth move first to employment and then be too comfortable to challenge themselves and move to entrepreneurship. In this case full employment, albeit a positive thing, is harming our startup ecosystem. Imagine allowing 16+ year old to open up a small business and dabble in entrepreneurship from a young age. This becomes more of a first choice rather than a secondary thought. This innovation is what make us solve challenges. Potentially creating a Teenage Entrepeneurship Sandbox.
4. Collaboration Collaboration Collaboration
The different support structures are certainly a positive thing, however, we need better collaboration and coordination between the entities to make better use of the limited resources. Additionally, founders and entrepreneurs need to also collaborate and work hand in hand to support each other in the community. This can be done through mentorship, shared resources, networking, choosing startup suppliers first, just to mention a few examples.
Every great startup story — every thriving ecosystem — started when a few people decided to stop asking for permission and started building. Malta’s opportunity is no different. But it won’t wait forever.
So, if you are involved in any way with Malta’s startup community — as a founder, an investor, a policymaker, an educator, or simply someone who believes in the power of bold ideas — the next move is yours. You can be a builder, a backer, a mentor, a connector. Or you can watch from the sidelines.
The only question that matters now is simple:
Are you ready to do your part to build Malta’s future, or are you content to watch others do it?
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