GO Ventures, a €2 million fund aimed at Maltese tech start-ups in the fields of artificial intelligence, big data and analytics, internet of things, cybersecurity, blockchain, fintech and related areas has just been launched.
GO Ventures will serve as a springboard for start-up companies that are still identifying ways to implement their digital projects related to new emergent technologies.
At the launch, GO CEO Nikhil Patil said that there already is a huge demand for this project. In fact, ever since its launch during DELTA Summit, GO has been following closely a number of pitches and started discussions over a few interesting projects. “Today, Malta offers many services to start-ups, however, they face a common problem in finding enough local sources of financing and investment. The GO Ventures Start Up Tech Fund will help address this challenge and by working with like-minded partners, GO wants to help foster a Maltese ecosystem of investment in innovation.”
Stefan Briffa, who is leading GO Ventures projects, gave a high-level overview of how the fund will work. He explained that the GO Ventures investment package includes cash, spacious co-working space and GO’s full suite of telecom and cloud services, access to markets and networks and mentoring.
“In our drive to be at the forefront of this digital revolution, it is also essential that the private sector becomes a protagonist in attracting both foreign talent to support technological development, as well as help nurture and retain home-grown talent,” added Parliamentary Secretary Silvio Schembri.
“I congratulate GO for their forward-thinking stance that is setting a new benchmark of how Maltese companies can be direct participants in, and benefit from new technology initiatives. I look forward to seeing start-ups benefit from this start-up tech fund which will in return contribute to Malta’s thriving digital economy.”