The Startup Ecosystem of Malta

Because Malta is also a popular tourist destination, the Covid-19 pandemic had a significant impact on the Maltese economy. In spite of this setback, many innovative startups are still thriving, bringing more jobs to the island. One of the reasons why the Maltese startup ecosystem is experiencing good momentum is due to government regulations aimed at attracting startups from specific sectors. The island also offers a Nomad Residence Permit, opening up its doors to digital nomads around the world. Malta is offering innovative tax policies that support the ecosystem growth and allow it to brand itself as a relocation destination for successful entrepreneurs.

Building on a strong iGaming sector and firm foundations that include tourism, manufacturing, and financial services, Malta’s economy is diversifying into Artificial Intelligence (AI), Big Data, the Internet of Things (IoT), and Distributed Ledger Technology (DLT), sectors in which Malta could position itself as a leader among its peers. The aviation industry is taking off as well, with the Unmanned Aerial Vehicle (UAV) industry shaping into an exciting new sector. Malta is also targeting the budding Medical Cannabis sector with its favorable sunny climate. The country supports Fintech projects with the FinTech Regulatory Sandbox, which allows companies to test their products under certain conditions.

Tech.mt is one of the active ecosystem support organizations in the country with a goal of positioning Malta as a tech-savvy country. It also helps tech companies in Malta to export their innovations beyond the borders of the country. Some other investment and support programs include Startup Malta, the Malta Individual Investor Program (IIP), TAKEOFF, Malta Enterprise, Silicon Valletta, and the governmental initiative Start in Malta.

If Malta leverages its ability to make quick and creative steps toward building its startup ecosystem, and continues thinking outside the box, it will maintain its trajectory of growth.