Malta awards €15 million in financial assistance to over 50 startups

The Maltese government has awarded €15 million in financial assistance to more than 50 startups to support operational growth. Announced by Minister for the Economy, Technology and Strategic Projects Silvio Schembri during the sixth Startup Festival, the initiative has resulted in the creation of approximately 250 jobs with an average salary of €46,000.

According to government statements, these investments have generated an economic return of four euros for every euro invested. The supported enterprises span various high-tech sectors, including FinTech, EdTech, life sciences, semiconductors, digital games, esports, artificial intelligence, and deep tech.

Minister Schembri also noted advancements in the semiconductor industry, highlighting an incubator programme that supported 12 chip-design companies, four of which have since incorporated in Malta. Malta Enterprise CEO George Gregory emphasized the importance of connecting founders, investors, and industry leaders to foster international growth and sustainable economic value.