The final winners of the Proof of Concept category were: Pregnancy Risk Chip — to develop an easier, earlier way of detecting pregnancy complications — and iFoot — to assess foot pressure and temperature, adapting to different scenarios of walking and taking active participation in offloading areas of high peak plantar pressure during walking.

The winners of the Seed Fund category were: SmartAgriFarmsR&D — to focus on the research and development of hydroponic farming in Malta, specialising in the formulation of hydroponic solutions —, Phileae — targeting the perfume niche brand market, allowing customers to personalise their scent —, and iSmart – focussing on creating solutions to improve reading comprehension, especially for those with learning difficulties (dyslexia, ADHD and other auditory or visual problems).

The teams will be working closely with the TAKEOFF Business Incubator and the University’s Knowledge Transfer Office over the next year in a bid to bring their ventures closer to commercialisation.

“Education can contribute to society’s well being and prosperity if teaching and research prepare us to intervene effectively in the real world and help us solve problems and improve reality through knowledge, skills and a moral commitment to change society for the better,” Minister for Education and Employment, Evarist Bartolo said when presenting the grants today.

“During the last six years, TOSFA supported 45 beneficiaries in developing further their ideas while helped others to commercialise them. Over this period, a total of €600,000 of funds were disbursed, helping and supporting very good ideas to flourish and grow and at the same time collaborating with already established companies. The ideas are diverse and come from numerous sectors ranging from Health, Energy, Technology, Artisans,” said Permanent Secretary of the Ministry for the Economy, Investment and Small Businesses, Nancy Caruana, at the University of Malta TAKEOFF Business Incubator today.

“The University of Malta is keen to continue supporting funds such as the TAKEOFF Seed Fund as it is an aid for entrepreneurship and research commercialisation. Every year the considerable number of applications received shows the interest from both entrepreneurs as well as researchers at the University of Malta,” Prof Saviour Zammit said.

Prof Saviour Zammit, Pro-Rector for Research and Knowledge Transfer, presided over the Award Ceremony, which was also attended by, Prof Russell Smith, Director of the Centre for Entrepreneurship and Business Incubation, and Anton Bartolo, Director of the Knowledge Transfer Office.

The post TAKEOFF awards grants to five projects first appeared on The Malta Business Weekly.

The website also aspires to offer a platform for partner organisations, current members, local grants and seed funding, as well as a new resource in the form of open access, online curriculum that teaches the essentials of enterprise and entrepreneurship, the press statement sent to BM says.

“TAKEOFF is more than a coworking facility, it is a mentored pathway that walks members through a powerful business-building framework. We provide friendly support and expert guidance so members do not feel alone and they can see a clear route forward,” said Joseph Bartolo, Incubator Manager.   

The new website also carries further information about the recently-announced “MedFest Call” for entrepreneurs as part of the Medfest’19 “Invest in the Future” event to be held on 14 December. MedFest is organised as part of the Malta-Sicily I-KNOW project, aiming to stimulate investment in innovation.

The concept is based on a UK model called VentureFest, and is expected to provide “unprecedented” opportunity for selected innovators to develop, then pitch, their business idea to a live audience of VIP guests and invited “business angel” investors.

“We are encouraging anyone with an innovative business, or business idea, to apply for the MedFest Call. People do not need to be experts in business or equity finance because we will provide that education to everyone we select to move forward. MedFest will be a powerful platform for something incredible to happen here in Malta, and who knows where the opportunity might lead us,” said Russell Smith, one of the original forces behind VentureFest.

“Participants would also receive upwards of €15,000 worth of expert mentoring, coaching and business advice, plus membership at TAKEOFF,” Mr Smith added.    

The post UM’s business incubator CEBI launches new website first appeared on The Malta Business Weekly.