The Malta Investment Management Company Limited (MIMCOL) organised an Investor Connect event coordinated by the Ministry for the Economy in collaboration with the private sector to bridge the existing gaps between start-ups and investors.
Minister for the Economy, Investment and Small Businesses Chris Cardona asserted the Government's determination in mobilising private investment to finance and support start-ups and early stage growth companies wanting to scale their business.
"We are seeing activity pick up, however there are far more start-ups emerging from the entrepreneurial pipeline than funders available to advance them to the next stage,” Dr Cardona said.
“Getting an angel investor community off the ground will mean we are less vulnerable to losing some of our best talent and innovations drummed up in Malta, which then relocate for the benefit of large, active angel networks. We are missing a great potential for growth and fostering of innovation, if we do not develop and strengthen the domestic investing capacity."
Dr Cardona said that entrepreneurs and angel investors needed Government support to combat the prevailing unfavourable investment culture and lack of information, which were some of the most significant impediments for the early stage investment.
“We are heartened by reports such as that published just this week by the European Commission, predicting that once again Malta will have the highest economic growth in the EU zone for 2019. Our economy has truly transformed and is finally being recognised for its potential. Developing a community of angel investors is the next step for maturing economy."
The minister also announced the extension of the Seed Investment Scheme through MIMCOL, which offers tax credits to investors in return for investment in a qualifying Maltese start-up.