THE NEW KID ON THE BLOCK
In this 'new normal' COVID-19 tech world, how has Tech.mt coped during the pandemic? Dayna Camilleri Clarke finds out.
In the wake of the pandemic, Tech.mt quickly realised the need to support companies and revised its strategy as an entity to help them transition to the digital world. If there were ever a strong need for the entity, it's precisely now. COVID-19 has undoubtedly put many entities in a difficult position, and it has strained many businesses in terms of consumer and investor demand. But it has also encouraged change, and, fortunately, Malta can boast of resilient infrastructure and solid management styles within the tech sector and beyond. Considering its wide array of responsibilities and the multiple projects it coordinates, Tech.mt has genuinely covered all facets of society. From stimulating businesses to go digital and pushing for more women in digital job-related employment to bridging the digital divide and ensuring children are safe online, Tech.mt has managed to stay fully abreast of the pandemic. This has enabled Tech.mt to embark on an aggressive campaign helping companies move online, with the guidance given on how to create online stores, as well as revamp operations to incorporate digital processes in deliveries, logistics and management systems.
"In the wake of the Pandemic Tech.mt revised its strategy as the entity quickly realised the need to be of assistance to companies to help them transition to the digital world"
What exactly has Tech.mt been doing?
• Tech.mt have successfully signposted several businesses in the right direction when it comes to grants and incentives to be able to take their business online / digitalise their processes.
• They have assisted firms in optimising their outlook so that they can attract a wider variety of consumers, including those abroad. In this way, they have immediately embarked on putting Malta on the digital map for new technology.
• Tech.mt have also proactively engaged in generating a new era of enhanced collaboration and shared agendas on both a local and international platform.
• Tech.mt has firmly pledged its commitment to ensuring that those left behind continue to receive opportunities to be able to cope with the digital transformation COVID-19 has brought to bear. This can be seen through several initiatives which are in the pipeline, targeting various segments of society such as the elderly, vulnerable girls and young women, lower-income families, and local businesses.
• Tech.mt also believes in limiting the divergence between tech-savvy companies and small businesses which struggle to cope with offering their services online. To this end, Tech.mt has proactively encouraged firms from all sectors of the economy to adopt the process of digitisation by organising informative webinars and providing advice and support to all businesses.
• While many conferences and large gatherings have been cancelled due to COVID-19, nurturing local growth and attracting FDI remained top of the list for Tech.mt through regular participation in online seminars, summits and webinars. This allowed local tech companies to showcase their work and provide them with a platform to celebrate their successes.
"Malta can boast of a resilient infrastructure within the tech sector and beyond. This has enabled Tech.mt to embark on an aggressive campaign helping companies to move online as well as revamp operations to incorporate digital processes in deliveries, logistics and management systems"
What's next for Tech.mt?
Tech.mt is the official face of Malta's digital efforts and the much-needed guide and mentor to help founders, innovators, technologists and investors land on solid ground within the Maltese ecosystem. They remain committed to ensuring that technology is used as a tool to empower digital innovation and establish Malta as a European model for the deployment and promotion of emerging technologies.
Tech.mt pledge to drive technology transformations in the most resilient, inclusive, and effective manner possible, the entity strongly believes that through digital skill building, there is enormous potential in boosting the contribution digitally skilled workers can contribute to Malta's economy.
Another core pillar for Tech.mt is limiting the divergence between tech-savvy businesses and small businesses which struggle to cope with offering their services online. Tech.mt will continue to assist companies from all sectors of the economy to adopt the process of digitisation. Looking at Malta's key players behind its shift towards a digital economy, there is a clear opportunity for enhanced collaboration in which various elements may be addressed. Tech.mt strives to give significant impetus to convergence and cooperation.
There's no doubt Malta's tech sector displayed strong resilience during 2020 both in infrastructure and in gross value-added terms. It is one of the three industries locally that has still experienced growth during this turbulent year, given that investment in innovation and R&D did not halt during the pandemic. Undoubtedly, there is hope and expectation that 2021 will be a rebound year. The shift to digital transformation will continue in earnest.
"Malta's tech sector displayed strong resilience during 2020 both in infrastructure and in gross value-added terms"
Change in behaviours such as remote working herald the importance of having digitally connected societies that will stimulate the demand for tech-powered economies. Although the sector did not sit on its laurels, Malta has further untapped potential which can be attained through further collaboration with stakeholders and the push for diversification of our other economic pillars. This, together with the launch of the National Digital Strategy and the various financial support measures rolled out, will allow Malta to rebound at an accelerated pace.
COVID-19 has accelerated our transition into the future; the digital economy is going to be the most significant opportunity ahead of us. We need to strengthen our ecosystem whilst preparing for future technologies such as virtual reality. The future is here, and it is in our power to start welcoming it today. Tech.mt will be bringing together all the stakeholders to ensure that Malta can reach its full potential on the global virtual reality and augmented reality scene.
Investment opportunities are shifting, and businesses can no longer rely on just the traditional banks to supply the liquidity necessary for change. At Tech.mt, we recognise that it is essential to broaden the range of financing instruments available to SMEs and entrepreneurs, to enable them to continue to play their role in investment, growth, innovation and employment. Tech.mt will strive to broaden the understanding of the full range of alternative funding instruments such as virtual asset listings and venture capital and to encourage discussion among stakeholders about new approaches and innovative policies for financing.
FEATURED IN THE NOVEMBER EDITION
2020
Words by
Dayna is a senior speech therapist by day and feature-writer by night. When she’s not busy xing words, she is travelling the world to add to her fridge magnet collection.
Zak and Benji Borg, co-founders of ANCHOVY. plc and James Abela and Matthew Sammut, co-founders of NIU Ltd. have announced the formation of a comprehensive technology and digital services group, known as Capital 9H Ltd., with the goal of creating the largest digital services offering in Malta and paving the way for an international growth programme in the rapidly growing sector.
Setting up your own company appears more and more appealing to many people across the globe. However, creating a product or bringing an idea to life can be both challenging and exciting. Dayna Camilleri Clarke caught up with Paul Waltzing to discuss his start-up journey.
Looking back to 2015, the word FinTech brought palpitations to many leaders within the financial services industry. This shiny new word represented nimble tech-driven businesses ready to take on the big giants – and quickly displace them. They had seen this happen with the entertainment and retail sectors, and the omens were out that financial services were next. Consumers and businesses were frustrated with the pace of innovation, while industry giants worried that their archaic systems and processes could mean that meaningful transformation was beyond what they could deliver anytime soon. Theo Dix explains.
Federica Tadiello spoke to Adrian Galea, a passionate and savvy manager who knows the local start-up ecosystem very well and who critically thinks that Malta has still a lot to do to attract talents and gain a privileged position in the European landscape. However, the good news is that it looks like there is a vibrant community of entrepreneurs with compelling stories to tell.
Non-Fungible Tokens (NFTs) are somewhat of a buzzword in today’s world, as the emerging concept has been attracting attention from all around the globe. It is no coincidence that recently, Mark Zuckerberg, the founder of Facebook, announced a change in the social media platform’s name to ‘Meta’, signalling another shift in the digital world. NFTs could well become an integral part of the digital world is exciting. Jake Aquilina explains.
Marisa Xuereb has been a member of the Malta Chamber of Commerce for over 20 years, becoming more engaged when she joined the council a little over six years ago. Thus, she was asked to join the management board during her second term in the council. Having recently reached a new milestone on the 24th of March 2021, in which the council elected her as president of the Malta Chamber 2021-2023, Lyndsey Grima caught up with Marisa to talk about the economy's strengths, struggles and how Malta can remain an attractive location for business.
Lyndsey Grima caught up with Dana Farrugia, Tech. mt’s CEO, to discuss the accelerating digital revolution and where Malta stands in building and expanding its digital backbone. What’s the way forward for businesses, especially after being crucially hit by several external factors in the last few years, and how can Tech.mt help local businesses get back on their feet? Dana Farrugia shares her insight.
Digitalisation is being heralded as the must-have solution for the advancement and prosperity of local businesses. Giselle Borg Olivier speaks to Hon. Silvio Schembri, Minister for the Economy, about the digital strategy and the plans that Malta must develop itself as a digital centre of opportunity.
Many great inventions around the world occur as a result of crises. Wars have powered the development of technology, bringing us aeroplanes. Plagues accelerated the development of medicine, resulting in significant drug advancement. After any crisis, the winners tend to see all these changes as an opportunity rather than a burden. Are you one of the future winners?
Malta could very well be the next stop for digital nomads. Daniel Goebel and Minou Schillings, digital entrepreneurs, speak to Tech.mag on this phenomenon and on some projects including CoCohub, a community of digital nomads also operating in Malta.
While machines are technically without bias, time and time again, we see cases of racism and sexism, to name a few. Veronica Stivala speaks to AI expert Dr Charlie Abela to find out whether AI can be prejudiced.
Dayna Camilleri Clarke caught up with Shane Hunter, chief executive officer at AquaBioTech Group, to discover the secrets to their resounding success.
In this 'new normal' COVID-19 tech world, how has Tech.mt coped during the pandemic? Dayna Camilleri Clarke finds out.
EBO.AI is an Artificial Intelligence enterprise which enables the automation and personalisation of engagement. Dayna Camilleri Clarke speaks to Dr Gege Gatt, chief executive officer of the London-based company; he is also a digital entrepreneur and IT-Law specialist.
Digital innovation can be viewed as a buzzword; however, Malta's vision in this sector is strong and forward-looking with the setting up of a dedicated Authority focusing on this element. MDIA chairman, Dr Joshua Ellul sat with Giselle Borg Olivier to delve into the function and need of such an Authority.
Techmag met up with Dr May Agius, a highly specialised speech and language therapist within ACTU (Access to Communication and Technology Unit) and a senior visiting lecturer at the University of Malta. Dr Agius has worked in the field of Augmentative and Alternative Communication (AAC) for over 20 years. Her key area of interest is how we can support children with autism who are minimally verbal to communicate.
We may be in the same storm but not in the same boat. Theo Dix looks at the change the world is going through due to the pandemic that has changed the business landscape, some in a positive way, others not so much.
Financial crime is a major concern for the business community, with numbers seemingly on the rise. Giselle Borg Olivier spoke to Nick Parfitt, head of market planning at Acuris Risk Intelligence to learn more about what goes on behind the scenes when it comes to weeding out the criminals.
Giselle Borg Olivier spoke with architect David Xuereb, President of the Malta Chamber of Commerce, about the Chamber’s Economic Vision 2020 and the collaboration and vision between the Chamber and Tech.mt.
Giselle Borg Olivier sat down with Dana Farrugia, chief executive officer at Tech.mt to learn about the relatively new entity – what has it been up to and where is it going?
Giselle Borg Olivier interviews Hon. Clayton Bartolo, Parliamentary Secretary for Financial Services and Digital Economy about the current state of affairs in Malta when it comes to the economy, human resources, the tech sphere – and what has been done in the midst of the pandemic.
Dayna Clarke caught up with chief executive officer David Liu to find out why Truevo set up shop within the Maltese Islands and their incredible journey to date.