In Malta there is no shortage of good ideas for innovative products and services, nor is there a lack of talented people capable of taking these ideas to market. What is often missing is the practical support and initial funding necessary to take the innovations to a stage where they can attract investment or the first commercial partner. TAKEOFF, the business incubator of the University of Malta, has been set up to tackle the first of these issues, namely to support entrepreneurs along their way to a successful venture. The TAKEOFF Seed Fund Award will provide the necessary funds to enable a step-change in the commercialisation potential of these ideas.
The TAKEOFF Seed Fund Award is the first programme in Malta to focus on early-stage technology and startup development. The 2014 pilot of this programme aims to help move promising ideas forward toward commercialization and ultimately, creation of high-growth businesses in Malta. Award funding will help to bridge the initial gap between lab/patent/idea and market development, and provides support to researchers and entrepreneurs when they need it most to increase the likelihood of success.
The TAKEOFF Seed Fund Award is a joint initiative between the Centre for Entrepreneurship and Business Incubation (CEBI) at the University of Malta and the Ministry for the Economy, Industry and Small Business (MEIB). TAKEOFF, the Business Incubator of the University of Malta, will also support the initiative.