Maltese gov’t vows further support to innovative firms

The Maltese government is committed to offering support to innovative companies by providing the tools they need to develop new technologies, Minister for the Economy, Investment and Small Businesses Chris Cardona said when he toured tech firm HandsOn Solutions Ltd together with Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri, according to a press statement by the government’s Department of Information (DOI).

Minister Cardona said that he believes that the productivity of innovative companies will increase who will be able to grow and provide new jobs. This might drive change to established businesses, health and care, transport, energy, built environment and creative industries.

HandsOn mainly develops software that allows GPS tracking of vehicles and fleet management. The company has strengthened and diversified its business through government grants and incentives and made international contacts through Trade Missions organised by Trade Malta and Malta Enterprise, according to the DOI.

Between 2014 and 2017 the company has experienced a 57% growth increase. It has recently moved to a new facility within the Mosta TechnoPark that allowed for more workspace to research and develop their products, as the press release says.

“Our economy has grown steadily and has reached unprecedented levels. Our next challenge is to aim for better, not bigger. To move away from mere economic growth and toward equitable and sustainable well-being. Success will be judged in new ways and the government acknowledges the importance of innovation and technology in the shaping of that future,” said Mr Cardona.