Founded in 2017, Eunoia has grown from a local startup into an internationally recognised tech company with offices in Malta and Cyprus, employing over 40 talented professionals. The company’s mission is to help businesses turn data into a competitive advantage by delivering innovative solutions in business intelligence, artificial intelligence, and data governance.

Reflecting on the award, Stefan shared:
“The EY Rising Star Award came as a huge surprise to me as all nominees deserved commendation. An entrepreneur is nothing without the team behind him that executes the dreams – those who have been there from the start and those who joined later. Finally, I want to congratulate Dr. Josie Muscat on your well-deserved Entrepreneur of the Year 2025 award.”

Driving innovation across industries

Under Stefan’s leadership, Eunoia has delivered groundbreaking projects that have reshaped industries such as finance, retail, iGaming, maritime, and insurance:

• Modernising Data Infrastructure: Eunoia has helped businesses transition from legacy systems to scalable cloud-based solutions, improving efficiency and unlocking new opportunities.
• AI Adoption: By building accelerators for AI implementation, Eunoia has enabled clients to enhance their decision-making processes through advanced analytics and automation.
• Compliance Innovation: The launch of CFOUR compliance software has empowered businesses to meet EU regulations while demonstrating their commitment to sustainable practices.

Eunoia’s approach combines industry-specific expertise with a commitment to long-term partnerships. Through initiatives like its annual hackathons and collaboration with global platforms such as Microsoft Fabric and Databricks, the company continues to deliver tailored solutions that address real-world challenges.

Empowering people through knowledge sharing

At the heart of Eunoia’s success is its people-first philosophy. The company has cultivated a culture of continuous learning, which has delivered over 800 hours of training to employees. With an impressive 85% employee retention rate over three years, Eunoia’s team is united by a shared passion for innovation and excellence.

A vision for the future

Looking ahead to 2025 and beyond, Stefan Farrugia is focused on expanding Eunoia’s impact:

• Global Expansion: Building on its success in Cyprus, Eunoia is entering new markets in East Europe and the Gulf region with resources already onboarded in Dubai.
• Sustainability Leadership: The company is developing ESG analytics tools to help businesses align with EU climate goals while driving sustainable growth.
• Talent Development: Through mentorship programs and structured professional development initiatives, Eunoia is investing in future-ready talent for Malta’s growing tech ecosystem.

A recognition of collective achievement

“This award isn’t just about me,” Stefan emphasised during his acceptance speech. “It belongs to everyone who believed in our vision – our incredible team at Eunoia who bring ideas to life every day, our clients who trust us as partners in their digital transformation journeys, and my family who support my dreams.”

The EY Rising Star Entrepreneur of the Year award underscores both Stefan Farrugia’s leadership and Eunoia’s role in positioning Malta as a hub for technological innovation on the global stage.

About Eunoia

Eunoia is a data and AI solutions company dedicated to helping businesses leverage their data as a competitive advantage. With expertise across multiple industries including finance, retail, iGaming, maritime, and insurance, Eunoia delivers innovative solutions in business intelligence, artificial intelligence, and data governance. Its mission is to empower organisations to make smarter decisions through meaningful insights.

The post Eunoia CEO Stefan Farrugia wins EY Rising Star Entrepreneur of the Year Award first appeared on The Malta Business Weekly.

The project, led by Prof. Andre Xuereb and Prof. John Apollaro from the University of Malta, focuses on transforming quantum computation from theory into practical application, with the goal of increasing its impact on areas such as healthcare, climate science, and artificial intelligence.

This project is a testament to how Malta is looking ahead toward futuristic technologies that not only transform lives but also create new opportunities for future generations.

Parliamentary Secretary Keith Azzopardi Tanti emphasized the importance of this investment in research and innovation. “This initiative is a testament to our confidence in our researchers’ abilities and our vision for Malta as a hub of innovation. Quantum Computing is not just about technological progress; it’s also about creating new opportunities and advancing society as a whole,” stated the Parliamentary Secretary.

The project will provide opportunities for collaborations with leading global innovators such as IBM, Amazon, and Airbus, as well as for researchers and students to access advanced quantum computing hardware. The initiative also includes funding for postdoctoral positions, participation in international conferences, and visits from global experts to Malta.

“This project represents an investment not only in our people but also in knowledge and our future. Through it, Malta is taking a strategic position as a leader in science and technology worldwide,” concluded Parliamentary Secretary Keith Azzopardi Tanti.

Prof. Andre Xuereb from the Faculty of Science at the University of Malta remarked, “This is a crucial step in our journey towards a deeper understanding of the potential of quantum computation. For the first time, we are seeing a coordinated effort that integrates local expertise with global talent to create solutions for real-world challenges. This is an opportunity for Malta to make a real difference on an international level.”

In collaboration with Esplora, the National Science Centre, steps will be taken to explore the possibility of creating a permanent exhibition on Quantum Computing, designed to spark curiosity and aspirations among young people. Furthermore, Malta will host an international summer school in 2026, attracting researchers and students from around the world.

The post Launch of a new initiative in quantum computing first appeared on The Malta Business Weekly.

One year ago, following more than half a century of negotiations, Europe took its first steps towards becoming a single market for technology. What was the new status ushering in the launch of the Unitary Patent?

The Unitary Patent is the most significant advancement in the legal protection of inventions in Europe in half a century. The groundbreaking development marked a deepening of Europe’s economic integration, complementing its single market. For the first time, inventors – whether individuals, small businesses or large corporations and everything in between – were able to secure automatic uniform patent protection for their inventions.

How many countries will be benefitting from this legal protection? And how does the Unitary Patent work?

The uniform patent will be in 17 European countries, representing an overall market of more than 400 million people. This is thanks to an integrated and streamlined system: a single patent, for a single application process, for a single renewal fee, in a single currency, under a single law, and enforceable before the Unified Patent Court as sole litigation platform. A simplicity that belies many years of complex legal and diplomatic wrangling.  

What is the impact of closing a decisive gap in Europe’s intellectual property landscape on businesses, particularly in relation to their US and Asian counterparts?

Crucially, it has closed a decisive gap in the architecture of Europe’s intellectual property landscape, levelling the playing field for businesses, ensuring they could compete on par with their US and Asian counterparts in terms of market size and consumers. 

How has the introduction of the Unitary Patent affected Europe’s patent system?

Designed with accessibility in mind, the Unitary Patent threw the doors of Europe’s patent system wide open with a simpler, more affordable path to patent protection. For the first 10 years, which is the average lifetime of a European patent, the aggregate annual fees for maintaining a Unitary Patent are less than €5,000, and if the patent holder opts for 20 years of protection a Unitary Patent is 78% cheaper than a corresponding European patent covering all 27 EU member states.

How has the Unitary Patent alleviated the financial and administrative burdens for inventors?

We know that far too few inventors from smaller scale entities, like SMEs and universities, engage with the patent system. This means their groundbreaking inventions could have potentially never made it to the market. Imagine a world where the radio remained a prototype in Marconi’s attic or a world where breakthroughs like insulin and pasteurisation had never left the lab…. How much worse off we’d all be?

Why this evolution has been so necessary cannot be overstated. We live in a time of record-breaking temperatures, of increasingly urgent sustainable development goals and a rapidly evolving technology landscape, driven by advances in deep tech and AI.

To ensure these technologies thrive in the market and benefit our societies, we must provide incentives. Patents are pivotal in translating ideas into new technologies and commercial success, giving investors the confidence to fund research and development with the prospect of societal and economical returns.

How do patents create opportunities and help SMEs, startups, research institutions and universities to connect and find suitable partners?

Patents not only create opportunities for licensing and technology transfer but help institutions mentioned above to connect and find suitable partners. To illustrate this point, our joint research with the EUIPO shows that startups that own patents and trademarks are 10 times more successful in securing funding during their initial seed or early growth stages.

The call for a patent system that balances accessibility with high quality patents, one that encourages and protects new technologies from a broad spectrum of inventors, has never been more crucial.

Has it really been the game-changer we anticipated it would be, or has it fallen short?  

So, with a full year of Unitary Patent experience already behind us, now is a good time to consider what impact it has had in increasing accessibility into the system.

In terms of user adoption, the Unitary Patent has exceeded expectations. In April of this year, the European Patent Office hit a milestone with 25,000 registered Unitary Patents since its launch in June of last year.  

To put that into perspective, around one in every four patents granted by the EPO since June 2023 has been converted into a Unitary Patent upon request by the applicant. According to the most optimistic scenarios, this outcome was expected to be reached only two years after the launch.

From where are the patents being requested?

Moreover the vast majority – around two-thirds – hail from inside the EU. This compared with the 43% share of total applications filed by European firms with the EPO in all of 2023. In the top 25 requesters for Unitary Patent protection, 16 are European companies.  

But what’s even more striking than the raw number of applications is the nature of the applicants submitting them. European SMEs, startups and individual inventors account for more than a third of all requests for Unitary Patents filed by Europeans in 2023, compared to around a quarter of all European patent applications filed in the same year.

All things considered, it’s fair to say that the Unitary Patent system has enjoyed a strong start and we have every reason to believe that its success will grow further still in the months and years ahead. There are a number of reasons for optimism.

What is the way forward for the Unitary Patent system?

Firstly, the expected addition of more EU member states, such as Romania in the very near future, will enhance its standing among inventors of all backgrounds as an effective vehicle for advancing invention and simplifying patent protection right across the European single market.  

Moreover, we are already seeing the impact of the Unified Patent Court, which has received hundreds of cases so far. The harmonisation effect of the court’s jurisprudence is crucial for establishing legal certainty and transparency within the new system, and provides users with the much-needed predictability for their investments.

The Unitary Patent’s continued success isn’t just about economic growth; it strikes to the very core of our society’s collective desire for a more sustainable future. Technology, supported by accessible and robust patent protection, is what’s going to help us get there – not forgetting, of course, our own human behaviour.

More than anything else, the Unitary Patent shows that when Europe unites behind common interests, combines best practices and listens to the needs of business and society, it can compete globally.

The post Celebrating a milestone for inventors – One year of the Unitary Patent first appeared on The Malta Business Weekly.

The Parliamentary Secretary responsible for research and innovation, Keith Azzopardi Tanti, participated in a panel discussion on how countries are looking at research and innovation, and thus explained the Maltese government’s work being carried out in these sectors.

He explained that although Malta is a very small island and thus has limited resources, he stressed that research and innovation are important for the country’s economic growth. “We started by identifying sectors in which we want to emphasise more on research and innovation, so that these lead towards society having a better quality of life,”stated Parliamentary Secretary Azzopardi Tanti. He praised the United Arab Emirates (UAE) for what they have achieved in recent years and claimed that they are a model worth following for many, including Malta.

“This Summit gives an opportunity for further collaboration between different countries. Malta is open to more dialogue with other countries that will lead to joint agreements for further collaboration, with a particular focus on research and innovation,” concluded the Parliamentary Secretary.

During his visit in Dubai, Parliamentary Secretary Azzopardi Tanti met several Ministers including UAE’s Minister of Artificial Intelligence Omar Sultan Al Olama, and met several government and private entities, including the MBR Space Centre, the UAE Space Agency, Dubai Future Foundation and Technology Innovation Institute.

The post PS Azzopardi Tanti one of the main speakers at the World Government Summit in Dubai first appeared on The Malta Business Weekly.

On Saturday 14 May, the hard work of teams comprising 6^th Form students participating in the post-secondary Company Programme, and teams of young entrepreneurs partaking in the tertiary level Start Up Programme, culminated in the Junior Achievement Malta (JA Malta) Awards Night held at the University Campus in Valletta.

The two winning teams were EasyBeads who won the Company of the Year Award and Plastoplex that was the winner of the Start-up of the Year Award.

The evening saw many young people receiving awards and accolades for their work over the past eight months with the respective winning teams primed to represent Malta in the European Finals this July, competing against 42 other countries.

Several Company Programme awards were distributed on the night both to teams that made to the finals, but also to teams that didn’t reach the final stage but showed promise in certain elements of their Company Programme journey.

Apollo won the ‘Deloitte Best Business Plan Award’, Virescent were awarded the ‘HSBC Green Entrepreneurship Award’, while EasyBeads took home the ‘Farsons Ready for Work’, ‘EFQ Management Quality Excellence Award’ and the ‘Atlas Digital Marketing Innovation Award’, respectively.

The finalists for the Company Programme were: Aquaponica, Bestja, BodYou, EasyBeads, Totelly, and Virescent. Virescent came in as first runner-up and BodYou took the second runner-up position.

The evening also recognised the Start-up Programme companies, namely Elev8, IrCab, Plastopex, PotCo, S.A.P, and Spring. Similarly, honours for the Start-Up Programme were awarded to teams that made the final six, but also to other teams that participated in the Start Up Programme.

The ‘HSBC ESG Sustainability Award’ and the ‘Switch Take Me to Market Award’ were presented to Spring. Start-up company Covered were awarded the ‘EY Concept Validation Award’, while College Ltd. took home the ‘Camilleri Preziosi Customer Focus Award’ and the ‘Tech.mt Digital Innovation Award’, respectively. IrCab and Spring were announced as the Start Up of the Year runners up.

Two other important awards are also presented each year – the JA Malta awards, with former JA Malta board member, Anton Borg receiving the John Harper Award, and Christian Mercieca accepting the Philip Bonnet Award for Perseverance.

In his speech, JA Malta Chairman, Chris Vassallo Cesareo explained that Malta has been listed as a model organization within JA Malta for the past four years and has won the first ever BAFCG Global Challenge award and has been nominated for the Bata Quality award.

“The role that JA Malta plays in the development of young people as they approach the working world is undeniable.  JA Malta’s work is even more important in the light of the fact that the current academic system still does not place enough emphasis on certain soft skills. We must remember that the youth of today are the leaders of tomorrow,” he said.

During the evening another big announcement was made by JA Malta CEO, Matthew Caruana, as he announced the rebranding of the organisation from Junior Achievement Young Enterprise Malta (JAYE Malta) to Junior Achievement Malta (JA Malta) to align with the JA global network.

JA Malta thanked all sponsors and supporters of the programme without whom the initiative would not be the success that it is today, specifically its Corporate Sponsors: HSBC Malta Foundation, Salesforce, The Malta Chamber, JobsPlus, Grinsens, Atlas Insurance, Microsoft, Camilleri Preziosi Advocates, and Cybergate.

Gratitude and recognition also went to all other sponsors: BusinessLabs, Farsons Group, Malta Enterprise, Santa Cristina, S. Rausi Trading Limited, Antinori, EY, Tech.mt, Switch, Deloitte, EFQ Management Consultants, and educational sponsor Oxford College of Marketing.

For more information on JA Malta and the programmes that it runs visit www.jayemalta.org

The post Winners of JA Malta’s Finals announced first appeared on The Malta Business Weekly.

The Creative Business Cup returns after last year’s success and is once again calling on Malta’s most promising creative entrepreneurs to join this global community of creative industries.

The Creative Business Cup, is regarded as the Olympics of creative start-ups and was launched in Malta by Culture Venture in 2021. Malta’s winner for 2021 was YouRun Ltd with the video game Warshmallows. The Creative Business Cup is a global competition organised by the Creative Business Network bringing together 80 national winners and is a unique event for innovators who aim to change the world and impact the global economy through their own unique creative enterprise.

The Global competition will provide Malta’s creative startups with an international platform and unprecedented access to networks, experts and investors in the field. Globally, the creative economy generates $2.2 trillion in revenues and creates 30 million jobs. In Malta the creative industries account for 7.9% of total GVA, exceeding the direct contribution of the construction and civil engineering sector and the accommodation and food services sector.

Startups utilising creative skills in the production of a creative industry product or service or creative startups collaborating with other industries are eligible to apply. These include businesses in advertising, architecture, craft & artisanship, design, experience technologies, fashion, film, video & photography, gastronomy, leisure activities, music, performing arts, play & learn, publishing, radio & television, software and 3D printing makers.

All participants who make it to the Malta final stand to receive: 10 hours access to business spaces at the Creative Incubator; professional mentoring by Culture Venture and follow-ups by Arts Council Malta and Malta Enterprise; and access to the Creative Business Network. A jury will also determine which of the 3 finalists will be entitled to receive a €1,500 award for creative business development from Arts Council Malta.

The winner from Malta, who will be announced during the National Finals at the Malta Chamber, and will go on to represent Malta at the Creative Business Cup Global Finals in Copenhagen between June 27th and 28th and access BRIGHT: a two-day global event of innovation, creation, and knowledge from all over the world and lastly hold the title of Best Maltese Creative Start-up of 2022. This will be the first time Malta’s winner will join other creative startups for the finals in Copenhagen in person since the pandemic.

Online applications are open until May 4th, and all finalists will be announced by May 11th with the National Finals taking place on May 20th at the Malta Chamber. Do you have what it takes to represent Malta in the global finals? Download your applications today or visit www.cultureventure.org for more information.

Culture Venture is the national partner of the Creative Business Cup. The lead partners of the national competition are Malta Enterprise and Arts Council Malta. The event is supported by The Malta Chamber and the Creative Incubator.

The post The Creative Business Cup is back first appeared on The Malta Business Weekly.

A company that will launch Malta’s bottle recycling scheme has offered to waive a product registration fee that small-scale operators say will bankrupt them, providing government provides them with financial assistance. In an open letter to Environment Minister Aaron Farrugia, BCRS Ltd said that it proposed to government to “provide a financial contribution” to its capital expenditures and waive a €230,000 annual licencing fee for the first year of operation. BCRS was responding to a letter sent to the minister by several small-scale beverage importers and producers last week, in which they warned that the €100 per-beverage-type fee would financially disable them and cut them out of the market.

Speaking to The Malta Business Weekly, BCRS Ltd CEO, Edward Chetcuti, explained that BCRS Malta Ltd would like all businesses, small and large, to actively participate in the scheme… in fact, many were consulted along the way.

“We have heard their concerns and wish to address them immediately. We are working closely with government proposing to waive the product registration fees. Naturally, we want the scheme to be a success from the launch in April. This is a huge project for the islands, like nothing we have seen before. Over 300 high tech digital bottle return vending banks are already on their way to the islands. It’s going to be a huge change in the way we see recycling.”

In reply to concerns raised, Chetcuti said that the scheme also includes administration fees based on the number of beverage containers placed on the market. It defended a decision to leave wines and spirits out of the scheme, saying this was in line with other countries with similar successful models. Chetcuti noted that operating the system would require an IT network linking 350 vending machines together with a secured database of registered beverage containers. He said the €100 fee “should actually be higher” but said the entity would be willing to waive the payment if government:

1.         Agrees to properly enforce the system to ensure all beverage importers complied with the system;

2.         Waives a €230,000 annual licencing fee due in the first year of operation;

3.         Financially contributes to BCRS’ capital expenditure, which it said has topped €17m without benefitting from EU funding; and

4.         Helps BCRS with its public education campaigns

As of April, BCRS the Beverage Container Refund Scheme will come into effect nationwide: “The scheme is intended to close the loop on the production cycle of single-use beverage bottles and cans. Across the world, tonnes of single-use beverage containers are produced each year, with a great amount of them ending up being disposed of in less than careful ways; polluting our seas and the environment at large. The Beverage Container Refund Scheme will address this by actively incentivising their return for a refund, effectively translating a problem into an opportunity – the waste will then become a resource,” said Chetcuti.

BCRS Malta Ltd is the licensed operator for Malta’s upcoming Beverage Container Refund Scheme – a not-for-profit company incorporated by three associations representing Malta’s beverage market – the Malta Beverage Producers Association, the Malta Beverage Importers Association and the Malta Beverage Retailers Association. The company will assume the responsibility for the nationwide return of beverage container single-use waste on behalf of producers, retailers and catering undertakings. To achieve this goal, BCRS Malta Ltd is investing over €17m in private capital infrastructure for a front-end and back-end beverage container recycling system.

In addition, the company is developing a facility at Ħal Far to process the recycled beverage containers, which it will then be entitled to sell overseas.

When asked how exactly it will impact shoppers, Chetcuti replied: “The Beverage Container Refund Scheme will incentivise the return of single-use beverage containers by applying a refundable deposit of €0.10c on the sale of eligible beverages. These include water, carbonated and non-carbonated soft drinks, ciders, beers, ready to drink coffee and dilutables in glass, PET or metal bottles and cans.”

A network of Reverse Vending Machines shall be available to consumers all over Malta and Gozo for returns of beverage containers, acting as the front-end of this innovative beverage container recycling system powered by the latest Internet of Things (IoT) technology. These Reverse Vending Machines will be available at supermarkets and many other public locations.”

“What’s more? The scheme will create new jobs locally,” concluded Chetcuti. The Beverage Container Refund Scheme plans to achieve high recycling targets, aiming for 90% returns of all beverage containers by 2026.

The post ‘We are proposing government financial aid to waive product registration fee’ – BCRS Ltd CEO first appeared on The Malta Business Weekly.

During the launch of the scheme for the year 2022, Minister Owen Bonnici said that this effort aims to continue raising awareness on the need for innovation, research and scientific topics even at the local level, through the sterling work of non-governmental organisations and voluntary organisations.  

Minister Bonnici stated that, “The government must continue to bring the Maltese communities closer to the sciences, and continue to educate society on how these affect us in our daily lives and help us move forward and achieve our goals. We need to change mentalities and keep attracting students and young people to STEM and STEAM subjects. The reality is that research and innovation have always been crucial to the well-being of society and the creation of progress according to the needs of society and we have to emphasise their importance.”

A total of €150,000 have been allocated to the scheme which will be administered by the Ministry for Equality, Research and Innovation. Each organisation can benefit from a maximum of €10,000.

In order for the organisations to benefit from this fund, they are required to put forward proposals for innovative projects. Proposals with an approach emphasising science, technology, engineering, art and mathematics (STEAM) as access points to guide learning processes, dialogue and critical thinking to combine theory and practice are also eligible.

Alistair Borg, Director for Strategy and Support within the office of the Permanent Secretary of the same Ministry, said that; “This scheme was created with the aim to further open hearts and minds in favour of the need for more awareness on the importance of research and innovation in Maltese society.”

All eligible applications will be evaluated by a board of evaluators according to the established and published guidelines, which can be found on the Ministry’s website mfer.gov.mt.

All applications need to be submitted online by not later than the 1^st of March 2022 at noon.

For more information or help, one can send an email on innovationschemes@gov.mt.

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The strategy will also facilitate access to EU funding for R&I in selected economic sectors.

In his address during the launch of the new strategy, Minister for Equality, Research and Innovation Owen Bonnici said that the strategy will ensure access to the required R&I funding support to strengthen research in the six thematic areas identified and guarantee the continuity of the necessary investments throughout the lifecycle of the strategy.

Minister Bonnici said that the government is committed to mobilizing the required efforts at all levels for the strategy to be implemented effectively, and emphasised that a strong Governance is particularly crucial for the strategy’s success and implementation.

The Smart Specialization Strategy has identified 6 smart specialization areas with potential for further R&I activities for the period 2021-2027. These are: Health and Wellbeing; Sustainable Use of Resources for Climate Change Mitigation and Adaptation; Smart Manufacturing; Marine and Maritime Technology; Aviation and Aerospace and; Future Digital Technologies

“The Smart Specialization Strategy is in line with the government’s post-pandemic vision which made explicit reference to the need to channel government resources, policy, and industry collaboration to drive innovation for the continuous strengthening of the country’s economic drive,” a government statement read.

The Smart Specialisation Strategy is being championed by the Ministry for Equality, Research and Innovation with the technical support of the Malta Council for Science and Technology. 

The post Malta adopts Smart Specialization Strategy for the period leading to 2027 first appeared on The Malta Business Weekly.

“We are Europe’s first regulatory body for the innovative tech sphere.”

Central to its role, the MDIA certifies and ensures any new innovative technological product is fit-for-purpose, in so doing, providing a stamp of approval of trustworthy innovative technology arrangements for users. “At the moment, MDIA certification isn’t mandatory; however, as policies evolve at an EU level, things may change. Notwithstanding, the certification offers the utmost reassurance for anyone looking to work with a new product or client. It’s our intention it becomes an industry standard. As a result, more and more businesses are coming to us requesting certification.”

As with any regulatory body comes a level of enforcement. For example, will the MDIA have powers to implement fines for tech entities that prove to be non-compliant? Brincat explains: “Right now there are no fines since the certification is voluntary; in the future once the EU imposes on its member states the mandatory provision for such innovative technology, MDIA would shape its strategies to be in a position to issue fines for breaches of say security, for example. We are working closely with other authorities and stakeholders to iron out our strategies as we are still a young entity.”

Asked about the island’s reputation and if the focus remains on “blockchain island”, Brincat replied future efforts are geared more towards Artificial Intelligence and ensuring a hotbed of innovation on the islands persists. “The term ‘blockchain island’ attracted many entities to Malta, however, now we are seeing more of a shift towards AI solutions. The MDIA expects to widen its focus from blockchain technologies to AI solutions for a far wider range of uses, leveraging this technology to have a transformative effect across the whole economy.”

Addressing the topic of a skills gap in the digital sector, Brincat admitted “right now there is a shortage of skills in the Blockchain and AI sphere. The University of Malta, MCAST and many other private entities are offering new qualifications in this field, however, until these students graduate and gain experience; we will endure gaps in the knowledge base. We also need to ensure Malta remains competitive enough for them to stay or return to Malta. What is positive is that many experts are relocating to Malta and we also have a great pool of existing talent – some of Europe’s biggest names and top professors are already here”.

On an international level, the feedback received from the establishment of the MDIA and the regulatory framework has so far been “very encouraging”, says Brincat, not only from operators and users but even neighbouring EU countries that have requested shared knowledge in regulatory implementation.

“The feedback is positive,” says Brincat. “I mean they [operators] were working in a wholly unregulated environment. Serious operators want to work within a legal framework. They want their work to be recognised, accepted and embraced. Basically, through this legislation and certification, that is what we are doing. We’re making sure that this type of technology is not only here, but it is here to stay.”

The post Malta at the forefront of technology certification – EU following suit first appeared on The Malta Business Weekly.