Last Updated on Saturday, 30 April, 2022 at 9:25 am by Andre Camilleri
PlugAndPlay sign Memorandum of Understanding with Quantum Foundation and Malta Enterprise
PlugAndPlay, the Accelerator Programme behind Dropbox and PayPal – amongst others –signed a Memorandum of Understanding with Quantum Foundation and Malta Enterprise to set up in Malta.
With a network consisting of over 30,000 startups and over 500 plus world-leading corporations, PlugAndPlay serves as an Accelerator Programme for startups, expediting their growth through acceleration programmes, connections to an open innovation ecosystem, and investments.
“The very fact that this global accelerator and prestigious brand today is committing to this presence in Malta is another milestone in the ‘Start In Malta’ project that we set out on a year ago”, said Minister for the Environment, Energy and Enterprise Miriam Dalli said.
“Whilst attracting foreign startups to Malta remains key to accelerate our development, we also want to ensure that indigenous startups and others that already are set up here play an active role in developing the startup eco-system. This state-of-the-art accelerator will provide support to scale-up and will access global networks of mentors, startups, potential clients, and investors. It will be open to all foreign and local startups and scale-ups that make it through the programmes selection criteria”, said the minister.
Malta Enterprise CEO Kurt Farrugia highlighted the renewed commitment towards startups. “Malta Enterprise has revamped one of the main financial schemes, Startup Finance, and we are currently in discussions to undergo further updates. This MoU with Quantum Foundation and PlugAndPlay is another milestone reached for the benefit of the local ecosystem, through the exciting opportunities they will offer to startups.”
Gareth Jenner, TrustStamp CEO, said Quantum Foundation was set up to accelerate the ecosystem in Malta. “PlugAndPlay is one of the world’s leading accelerators, and their decision to come to Malta is an incredible opportunity for Malta and its entrepreneurs”, he stated.
Omeed Mehrinfar, Managing Director at PlugAndPlay, described PlugAndPlay choosing Malta as an opportunity to support a local entrepreneurial ecosystem with development, both within Malta but also for outside expansion.