The Minister for the Economy & Industry
launches the MDIA TAS
Alignment in the early phases of deployment proves to be cheaper than rectification in a post-development stage.
By creating the Technology Assurance Sandbox, the MDIA envisaged an innovative concept which provides a safe environment for individuals and companies developing solutions on Innovative Technologies, such as Blockchain, AI and critical systems, to enable the correct nurturing of such solutions in line with recognised standards. It must be stressed here that alignment in the early phases of deployment proves to be cheaper than rectification in a post-development stage.
MDIA’s new flagship utility is intended to guide solution owners through a residency of almost 2 years, as they align their product with established Control Objectives based on international standards in a phased and gradual approach. After every phase, an assessment is done by MDIA-certified Systems Auditors, and this will keep on happening until the applicant is in line with all Control Objectives. Following a number of successful assessments, the applicant will be ready to apply for MDIA’s certification – which is the ultimate proof that the solution provides technological assurances.
The MDIA-TAS was designed with start-ups and smaller players in mind. It provides flexibility in selecting which Control Objectives shall be applied and at which stages within the residency. This will result in the seamlessly integration of the development plans of the applicant. The administrative cost for such residency is €500, while the Systems Auditor’s assessment can be covered by applying for Government grants.
The advantages of the Technology Assurance Sandbox
- The TAS ensures that the development of the respective solution is in line with predefined control objectives as per international standards, further ensuring the mitigation of risks for end-users.
- The aim of the TAS is to provide tech assurance to investors and end-users. This by ensuring functional correctness and optimised operational processes.
- The sandbox provides legal and regulatory certainty in line with evolving EU regulations in the Technology sphere.
- The aforementioned benefits ensure a seamless MDIA certification process following the sandbox residency.
- All the above are ultimately aimed at ensuring that respective solutions are highly competitive once launched in the market.