Global Accelerator Programme for start-ups sets up in Malta

PlugAndPlay sign Memorandum of Understanding with Quantum Foundation and Malta Enterprise

PlugAndPlay, the Accelerator Programme behind Dropbox and PayPal, among 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 start-ups and over 500 plus world-leading corporations, PlugAndPlay serves as an Accelerator Programme for start-ups, 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 Miriam Dalli, Minister for the Environment, Energy and Enterprise.

“While attracting foreign start-ups to Malta remains key to accelerate our development, we also want to ensure that indigenous start-ups and others that already are set up here play an active role in developing the start-up eco-system. This state-of-the-art accelerator will provide support to scale up and will access global networks of mentors, start-ups, potential clients and investors. It will be open to all foreign and local start-ups and scale-ups that make it through the programme’s selection criteria,” added the minister.

Malta Enterprise CEO Kurt Farrugia highlighted the renewed commitment towards start-ups. “Malta Enterprise has revamped one of the main financial schemes, Start-up 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’s choice of Malta as an opportunity to support a local entrepreneurial ecosystem with development, both within Malta but also for outside expansion.