Top 4 reasons why Malta is an awesome start up place

Malta truly is a jewel in the Med. Yes it has awesome weather. It is safe. It offers fantastic food. It has a night life comparable to Ibiza. It has a history that makes Stonehenge seem modern. It simply is a great place to live. But what value can it offer the start up scene. This is where things get really interesting. 

Stability
Malta is stable in every sense. Politically and economically. As Maltese, we love to grumble, challenge and bicker about politics and that is just us being Mediterranean. What is not Mediterranean though is that we are focused politically on being the best we can be. Malta has a booming financial sector, gaming sector, a leading EU country for eGov services, maturing tourism markets, and a lot more. The recent recession was felt, of course, but we tightened our belts and powered our way through it. We can be compared to the rest of the Med with confidence and everyone will say we did a by far superior job. 

Burn Rate
Based in London? Berlin? Stuttgart? Paris? Imagine that with the price of rent you pay on a monthly basis to have a roof on your head, you could settle your coworking space, accommodation (with a lot more square meters), and a few other necessities. Now apply that to business. In Malta, the monies invested in your business simply go a long way further. Moreover, at the end of a milestone, you are a lot more motivated and eager to get right back in the midst of things. Why? Malta will do that for you. The weather, lifestyle, people, diversity, etc! 

Language 
Yes, Malta has its own language. But all business is done in English. This means resource speaks English. Furthermore,because of the gaming companies already based here, it is not hard to find resource with other mother tongues. 

Access to Markets 
This may not apply to everyone but certainly worth considering. Malta is often regarded as a hub for connecting north and south. North Africa is an interesting space which several entrepreneurs have realized. It is a recently opened market that although not stable, has a lot if potential. Malta offers value to both the North African that needs a stable base and support to do business in North Africa, as well as the European that wants to gain access to that market. Why not North Africans that want to do business in Europe? 
Besides the North Africa model, Malta’s thriving gaming and financial sector simply means the market is here, or if not, very accessible from here. 

Yes, a few wins, but we cannot stop here! Malta needs more. Not because it will fail if it’s not fed, but more on the lines of Malta having an unfulfilled potential. What makes it happen? Like everything in this world, the answer is always great people. We need more entrepreneurs! More quirkiness! More diversity! After all, when can we get enough of these!

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6 thoughts on “Top 4 reasons why Malta is an awesome start up place

  1. Very valid points. Not so sure about the burn rate over the long term. If demand were to drastically increase, higher prices for rentals and services would surely follow.

    1. Yes, certainly that is true. The element here though is that as the burn rate reduces due to an increase in demand, the value being offered to the community also shifts. For example, the value will be a technology/creative/ambitious/vertical focused community. What is interesting is that unlike other countries that also attract based on price competitiveness, Malta has the potential to attract based on a low more added value that just cost savings.

  2. “you could settle your coworking space”

    …except, there are no coworking spaces. One appears to have tried starting up in 2012 but it apparently went no where.

    1. Actually there are a few. I know that TakeOff (university of Malta) have one, as well as Microsoft Innovation Centre and lastly SOHO in St Julians. I admit though, we need another one in Sliema/St Julians/Gzira area! Any takers?

      1. I’m also really hoping for one to open in Sliema. Maybe I’ll even look into opening one myself when I have a little more time next year.

      2. Hi Simon, hi all,

        actually we just started both a designer souvenirs/gifts shop AND a coworking space in one location, which is the PRINTS OF WALES in Sliema, 108 Manuel Dimech Street. We are very close to the Police Station, basically on the top of the hill when coming from Balluta Bay or the Sliema Ferries. Our very competitive rates, the network and – last but not least – the creative atmosphere (you are surrounded by designers and designer products) will make sure, that everyone feels great. On http://www.prints-of-wales.com – which still is partly under construction – you can check out the offer. Or become a fan of our group on FB /maltaprintsofwales, where we will keep everyone updated with the latest stuff in the shop and the co-working space.

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