Profit with Purpose generates €24,000 for supporting startups

Awards worth of a total of €24,000 were distributed at the end of Profit with Purpose, a two-day social innovation ideation event held at the Malta Innovation Hub, which is part of the Malta Life Sciences Park, according to a press statement sent to Business Malta.

The sum was presented in the form of awards of €6,000 each. Three of the awards were sponsored by ENISIE, a project which was created to enable innovation through services and institutional engagement between Sicily and Malta. The fourth award was presented by the Valletta Design Cluster and the Malta Innovation Hub.

“Profit with Purpose showed just how many great social innovation ideas are out there. It was so encouraging to see dozens of entrepreneurs coming forward with viable commercial projects that also tackle a societal issue,” said Joseph Sammut, Chairman of the Malta Life Sciences Park.

“The final pitch for the awards was very impressive and the independent judging panel found it so hard to choose the winners that, in fact, and an extra award was added to the three originally planned,” Mr Sammut added.

Through the awards, the winners will benefit from €6,000 each in support services including hot desk access and business development consultancy expertise.

Profit with Purpose was organised together with the Malta Council for the Voluntary Sector and also Impact HUB Siracusa and Tree. The four organisations are part of ENISIE, which is supported by the European Union’s Program INTERREG V-A Italia-Malta, which provides funds for intra-regional projects.