During the interview earlier this year, Ms. Farrugia highlighted Tech.mt’s commitment to ensuring that Malta remains an industry leader in the sector. In this regard, Tech.mt will be instrumental in leading the Maltese tech industry to the next level, boosting economic performance and the financial stability of the island, and promoting Malta as a tech hub of choice in the United Arab Emirates.
Tech.mt is a facilitator of growth in the technology sector, promoting innovation, nurturing new businesses and investors, and providing guidance for the upcoming digital future.
From blockchain to cryptocurrency, AI, and digital health, Malta is positioning itself at the forefront of technological innovation. The government of Malta and the Malta Chamber of Commerce, Enterprise, and Industry have established Tech.mt with the mission to promote Malta’s national strategy on innovative technology, providing opportunities for local tech companies and tech professionals to showcase their work, expand their operations, or internationalize. Furthermore, Tech.mt is pushing forward academia and talent through collaboration in global technology-related spheres and providing the necessary guidance for tech investors to succeed. Dana Farrugia, CEO of Tech.mt, says, “We are acting as intermediaries to our local technology sector. We tackle issues from a policy perspective, from an industry perspective, from a connectivity, and networking perspective.” As data is becoming the world’s most precious resource, Tech.mt seeks to play a direct role in the global digital revolution.
In the midst of the COVID-19 pandemic, digital technologies have become more necessary than ever for growth, however, in Malta, the push for technology implementation began before the world experienced the pandemic, although its realization had a slow beginning. Farrugia says, “In past years, technology was always the underlying platform of the other subsectors: gaming, fintech, the medical industry, etc., but given the breakthrough with blockchain around the world in 2017, we realized that it deserves its due focus and its due importance.”
Due to Tech.mt’s efforts, technology is now at the forefront of national initiatives, and as a result of COVID, the technology sector was one of the few that experienced positive growth in 2020.
Even in light of global lockdowns, Tech.mt maintained its original growth plan, and adherence to this mandate led to an investment of USD$ one million in 2020, further resulting in extensive exposure of the tech sector, B2B matchmaking, focused and specialized partnerships, and connections with industry. These quality-based achievements have positioned the Maltese tech sector in an advantageous position for domestic and foreign investment. Farrugia says, “We want to aggressively be on the ground in international countries, and we want to take our technology companies with us abroad. In this way, we attract foreign direct investment and facilitate connections for them to work on projects in international countries and on projects here in Malta.” With this, Tech.mt can create an environment where it unites people and businesses, creating a specialized, custom-made business relationship.
Another exciting chapter in Malta’s digital innovation economy is just about to commence with the recently launched Technology Assurance Sandbox by the Malta Digital Innovation Authority (MDIA). “This is in line with Tech.mt’s mission and commitment to shape an attractive ecosystem for innovative technologies to thrive in,” says Farrugia. Through the sandbox, startups can test their creations prior to placing them on the market. Moreover, the sandbox certification offers legal and regulatory certainty, in line with EU regulations in the field of technology. “Tech users and investors looking to develop an innovative concept can have peace of mind knowing that the sandbox certification provides assurance and reliability. The promise for functional correctness and dependability of such technologies is essential. The supporting operational procedures are guaranteed, making the solution more appealing,” adds Farrugia.
“We are acting as intermediaries to our local technology sector. We tackle issues from a policy perspective, from an industry perspective, from a connectivity, and networking perspective.”
CEO of Tech.mt
Tech.mt is heavily committed to ensuring that Malta remains an industry leader in the sector. Farrugia says, “We offer a lot of incentives for companies coming to Malta.” With high-speed internet across 99.8% of the two islands, multiple data centres and fiber cables connecting the islands to the grid, Malta is equipped to offer the connectivity necessary for discerning investors. Farrugia states, “We have invested around USD$ two million in only one and a half years into promoting Malta as a technology hub. Our technology sector and the skills that we have in-house are attracting a lot of foreign direct investment.” As Malta positions itself as a leading player in the global economic landscape, Tech.mt will be instrumental in leading the Maltese tech industry to the next level, boosting economic performances and the financial stability of the island.
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