TECHMAG ISSUE 3 by BE.COMMUNICATIONS

2021 I ISSUE 3

DIGITISING

ENSURING A DIGITAL FUTURE 24 NFTS

Are NFTs disrupting traditional business models? 54 START-UP

CHURNING THE WHEELS OF INNOVATION 64

Leading in disruption Requirements for leaders in all industries have rapidly shifted, resulting in a widening gap between leaders equipped for new realities and those who are not. Leaders need to think creatively about business strategy and manage people to navigate the next phase of COVID-19 to build a successful future. 16

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TECHMAG

EDITOR’S LETTER

COV E R

Leading in disruption How can Tech.mt help local businesses get back on their feet? page 16 Oxford’s word of the year 2020 is ‘vax’, while Cambridge chose ‘perseverance’ – both a homage to the COVID-19 pandemic that has become part of our daily lives since early 2020. However, Collins Dictionary went down a very different path and opted for ‘NFT’ as their word for 2020; arguably an extremely modern term that many people will not necessarily have heard before, most would not know what the acronym stands for, and only a small sector would know what it is.

NFT stands for Non-Fungible Tokens, and Collins defines NFT as “a unique digital certificate, registered in a blockchain, that is used to record the ownership of an asset such as an artwork or a collectable”. Within this issue, we have given space to the topic of NFTs as we believe that they are the trend in tech right now; however, is it at the expense of traditional business models?

CREDITS

Despite, or perhaps because of, its small size, Malta has always forged ahead wanting to be seen and noticed, to have a seat at the table, and we spoke to the Minister for the Economy, Hon. Silvio Schembri who explained the plan and strategy being undertaken on a national level to promote Malta as a digital hub for business people and digital nomads.

E D I TO R

Tech.mt remains at the forefront of promoting Malta as an ideal location for businesses that deal in or require state-of-the-art digital services. We caught up with CEO Dana Farrugia to speak about Malta’s acceleration into the digital sector from a national level viewpoint and the path Tech.mt is taking to market the island as a technology innovator and digital disruptor, catering to all those who seek to live a digital lifestyle.

kurt@friendsofours.co

Marisa Xuereb is one person who is all too aware of the standards that Malta needs to maintain in terms of its offerings to the business community. As chairperson of the Malta Chamber of Commerce, her message has been clear and constant – work must be done to keep Malta as a viable option for the business community. Good governance, sustainability, technology, and people are the basics of any functioning economy, she says, as the Malta Chamber seeks to aid businesses in their recovery from the pandemic. Technology is ubiquitous across most industries as we explore the latest developments in the insurance sector and explore a world that has fascinated man for centuries – outer space. Prof Joseph Borg speaks about Malta’s first foray into this exciting world as advancements are made in the medical field by exploring the effects of the atmosphere in space on human cells from earth. Technology is also what allows us to carry on with our lives and commitments throughout the pandemic as we explore work-from-home and hybrid options when it comes to delivering services and supporting clients and customers. Unfortunately, the investment that has been made in tech over the years was never truly put to the test as to the extent to which it could be used, but COVID-19 changed all that when organisations realised that the money that they spent on their digital infrastructure wasn’t restricted to their physical office location but allowed for much more freedom and flexibility. This all ties into the digital nomad lifestyle and growth hacking mindset that the younger generation is embracing. They are indeed using technology to its full potential. Rather than tying them down to a regular office job or even a desk, they are using it to spread their wings, explore the world, and keep working effectively and remotely from wherever they want. Could this be our ‘new normal’?

Anthony P. Bernard

anthony@becommunications.com DESIGN

Kurt Micallef PRINTING

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TECHMAG

ISSUE 03

IN THIS 16

ISSUE 8

>> C O V E R S T O R Y

Leading in Distruption

Dana Farrugia, Tech.mt’s CEO, discusses the accelerating digital revolution and where Malta stands in building and expanding its digital backbone.

>> G O V E R N A N C E

>> C O M M E R C E

>> T E C H F O R G O O D

>> D I G I T I S I N G

Bridging the digital divide

The voice of business

Run for smiles

Insuring a digital future

Hon. Silvio Schembri, Minister for the Economy, talks about the digital strategy and the plans that Malta must develop itself as a digital centre of opportunity.

26 >> S P A C E

Out of this world

2021 was the year that Malta made its giant leap by entering the space programme for medical research. Prof Joseph Borg, talks about medical research, the space effect, and this programme’s future.

Marisa Xuereb talks about the economy’s strengths, struggles and how Malta can remain an attractive location for business.

Unveiled by Dr Lydia Abela earlier this summer, the app will contribute to a nationwide counter that will pump private funding to community initiatives through physical exercise.

>> R E M O T E W O R K I N G

>> N O M A D S

Shifting the paradigm

Malta opens its door to digital nomads

Working from home has been a forced experiment during the pandemic, but, not surprisingly, this experiment left its mark, and while offices are reopening, many companies worldwide are rethinking the “pre-pandemic” working model.

Federica Tardiello spoke to Charles Mizzi, chief executive officer at Residency Malta, about Malta’s new proposition.

Javier Moreno, MAPFRE Middlesea CEO, about its embarkation on a digital transformation experience for their client base initiatives through physical exercise.

>> DIGITALISATION

Transforming productivity through digital

JP Fabri details a digitalised economy whose production and consumption models incorporate digital technologies in all economic, social, and environmental dimensions.

CONTRIBUTORS

50 >> F I N T E C H

How FinTech and ecosystems are reshaping finance

Theo Dix explains how industry giants are worried that their archaic systems and processes could mean that meaningful transformation was beyond what they could deliver anytime soon.

DAYNA CLARKE is

a senior speech therapist by day and feature-writer by night. When she’s not busy fixing words, she is travelling the world to add to her fridge magnet collection.

JP FABRI is a

founding partner at Seed, a boutique advisory practice. An economist by profession, he is also a visiting assistant lecturer at the University of Malta.

GISELLE BORG OLIVIER is a

freelance writer, proofreader and social media marketer who survives on Instagram and cappuccino.

>> N F T s

Are NFTs disrupting the traditional business model?

Jake Aquilina explains how NFTs could well become an integral part of the digital world is exciting.

>> S T A R T U P S

The Malta start-up scene: uncertain outcome, a worthy investment

Adrian Galea, critically thinks that Malta has still a lot to do to attract talents and gain a privileged position in the European landscape.

FEDERICA TADIELLO THEO DIX is a

manager at EY providing strategy consultancy and transaction advisory services. He supported the Malta. AI Taskforce in its work to develop a National Strategy on Artificial Intelligence and formed part of the ‘Investment, Startups and Innovation AI Working Group’.

LYNDSEY GRIMA

is a freelance writer and social media marketeer. When she’s not typing away, you will find her focusing on her training at the gym.

Digital marketer and content writer with a passion for technology, sustainability and innovation. When Federica’s not working, you can find her underwater or travelling.

JAKE AQUILINA

is a journalist and an MA English graduate who is interested in the digital shift the world is going through.

LEA HOGG produces

and hosts a popular current affairs tv show. She provides multi media content, analysis, forecasting and assessment reporting for a number of international corporates.

TECHMAG

GOV ERN AN CE

Digitalisation is being heralded as the musthave solution for the advancement and prosperity of local businesses. Giselle Borg Olivier speaks to Hon. Silvio Schembri, Minister for the Economy, about the digital strategy and the plans that Malta has, to develop itself as a digital centre of opportunity. 8

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Malta is developing a new enhanced and overarching digital strategy for 2021-2027. The new sectorial strategies emphasise various technologies on digital public services, cybersecurity, eCommerce and data. In 2020, you said, “Unless we embrace technological improvement, certain businesses will die a natural death” at the launch of a ‘business reengineering scheme’ in collaboration with Malta Chamber and Malta Enterprise. What can we expect to see in terms of eCommerce and digitalisation opportunities for local businesses? Malta has been striving for digitalisation, specifically with the launch of Digital Malta’s National Digital Strategy covering 2014-2020. The National Strategy Digital Malta has driven digital policies and sets Malta’s ambition as a ‘digitally enabled nation’. Since then, Malta has produced promising results, as indicated in statistics provided by the European Innovation Scoreboard and Digital Economy and Society Index (DESI) 2020 and 2021. In the coming weeks, Malta shall be launching its Digital Strategy for the years to come. Whilst we acknowledge the remarkable transformation within the private sector, we also greatly encourage further digitalisation and innovation for our citizens, as well as within our foundations and enterprises. The public sector also needs to boost its services through technology; therefore, Malta is developing a new enhanced and overarching digital strategy for 2021-2027. The new sectorial strategies emphasise various technologies on digital public services,

cybersecurity, eCommerce and data. Furthermore, in terms of eCommerce opportunities for local businesses, Malta’s Government, through the work of the Malta Communications Authority (MCA), is currently working on its strategic outlook for the coming years by carefully considering the latest trends and developments in the digital services market. This is being done to ensure that any gaps emanating from these trends are addressed whilst also safeguarding businesses by providing them with the support they need to improve their technological posture. Building on the outcomes of the 2014 eCommerce Malta National Strategy and in line with the government’s upcoming Digital Strategy, over the coming years, the MCA’s eCommerce work plan will comprise measures that seek to increase awareness about eCommerce opportunities and encourage good eCommerce practices. As well as increasing business and technology competencies through awareness and education opportunities including the eBiznify programme. We are also educating sellers about standards and regulatory compliance and increasing demand by encouraging consumers to avail themselves of Maltese eCommerce propositions whilst promoting safe eCommerce use. The government is also promoting a healthy, competitive solutions’ market where

sellers have a wide choice of solutions and make sound, informed adoption and investment decisions. The facilitation of stakeholder discussions and participation in future policy formulation is also underway, together with the monitoring and analysis of eCommerce activities to evaluate policy effectiveness, inform discussion and shape future policy. Concerning industry, Tech.mt has been instrumental in encouraging industries to go through digitisation and launch their businesses online. It has been available to all businesses in need of advice, support and information about available grants that can be tapped into. With the pandemic exposing the digital divide across different segments of society, Tech.mt has also pledged its commitment to continue to assist those left behind to receive opportunities that enable them to cope with the rapid digital transformation that COVID-19 has brought about. The European Commission’s proposals for Digital Services and Digital Markets Acts (DSA - DMA) are significant landmarks in developing the EU’s digital strategy. So, where does Malta fit in this strategy? And how is the country faring? The proposals rationale and goals for the Digital Services and Digital Markets Acts (DSA-DMA) have provided users 9

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Throughout the discussions, it was widely acknowledged that SMEs need to accept the new norm and embrace such change to flourish and grow. with significant additional benefits and contributed to the internal market by opening new business prospects and facilitating cross-border trading. It has also contributed to innovation. These digital services have become increasingly important when it comes to everyday online activities. These provide the opportunity to boost customer choice, improve industry efficiency and competitiveness, and strengthen civic engagement in society. Malta has continued to push the boundaries in the digital sphere. This is reflected in Malta’s substantial performance increase (14.9%) in the 2021 Innovation Scoreboard. Malta’s success in this sector is mainly due to the government’s drive and commitment towards the digital sector and the private sector’s continued investment and growth. Malta ranks 6th out of 27 EU Member States in the 2021 edition of the Digital Economy and Society Index (DESI). The country performs well on broadband connectivity – since 2019, all Maltese households have been reached by Very High-Capacity Networks offering speeds of up to 1Gbps. A continued focus is needed to increase the take-up of these networks and ensure the swift assignment of all 5G pioneer bands. 10

The Maltese Recovery and Resilience Plan, which emphasises digital aspects and a total of €316.4 million, has been allocated under the Recovery and Resilience Facility, envisages developing and implementing initiatives for digital skills under the umbrella of the country’s upcoming Digital Strategy 2021-2017. Accordingly, €80.8 million, or 25.5% of the total, is earmarked for digital transformation. In particular, a reform included in the plan aims to reduce the digital divide and promote digital skills through upskilling initiatives and increasing Malta’s pool of ICT professionals.

companies and entrepreneurs can develop, prototype, test and scale AI and ultimately showcase the value of their innovations across an entire nation primed for adoption.

engSeifert Systems Ltd has launched The Smart Factory, forecast to begin operating towards the end of 2022, using the Internet of Things (IoT). How do you see these innovative launches affecting the local business sector?

In 2021, Tech.mt explored the adoption of IoT among businesses and investigated areas such as sectoral relevance, willingness to invest, barriers or challenges, effectiveness on business operations, and insights into actual industrial applications. With the expected growth of IoT demand, this report aims to shed light on how IoT is paving the way for businesses to redefine the way they manufacture or design products, optimise processes, and enable enhanced sales while at the same time increasing awareness of its adoption amongst Maltese businesses.

Recent government and private sector direct investment have paved the way for innovation to flourish. The pandemic has undoubtedly accelerated the need to adopt technology and digitalisation in operations. Diversifying our economy to create room for new niches such as AI, IoT and Blockchain technology will help cement our position as a hub for innovation and technological advancement. My take is to embrace this new norm, invest, diversify and ultimately come out of this pandemic even more robust, perhaps also as a technological leader on the world stage. A Strategy and Vision for Artificial Intelligence in Malta 2030 aims to map the path for Malta to gain a strategic competitive advantage in the global economy as a leader in the AI field. The vision is for Malta to become the “Ultimate AI Launchpad”, the ideal location where local and foreign

Through industry and technologyspecific research and studies, Tech.mt has also engaged in consulting over 140 businesses in the field of eCommerce and IoT. The insights gathered through such assessment studies have been used to formulate upcoming national strategies and analyse the state of emerging technology deployment amongst local businesses.

The future of the digital economy will require a new skill set of the workforce. Therefore, it is critical that our educational institutions, including our primary and secondary schools, start equipping our future workforce. Over the past months, there has been an increase in spoof websites and scam texts, with the head of MITA saying that one million spoof emails are received every month. So what cybersecurity measures is the country taking in light of these recent spoofing events?

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the globe, regardless of whether they are larger economies or developing countries.

Actions taken by MITA in the immediate term can be categorised under the following titles - awareness, international collaboration, policies and regulation, and legislation. Spoofing and related activity has been going on for several years and is an area where Cyber Security Malta, the national cyber security awareness and education campaign led by MITA, has periodically and intensively advocated. Following recent spoofing events, the national campaign further intensified its efforts to raise awareness on the topic through social media, traditional media and dedicated sessions with specific audiences. International collaboration has also escalated in this respect, including discussions on how the cyber security domain is covered from policy, regulation and legislative perspectives. Long term actions are also planned, in line with the National Cyber Security Strategy. What was the highlight of this year’s ‘Malta SME Week 2021’ for the local economy? The SME Week is an annual event organised each year by the Ministry for the Economy and Industry. It is also a pan European initiative that promotes competitiveness and entrepreneurship. The SME Week aims to inform entrepreneurs about support available at both the EU and national levels while promoting entrepreneurship and discussing business opportunities. It also

serves as a good platform for networking. During this years’ SME Week, various vital areas were discussed: the Malta Economic Vision, Entrepreneurship among Women and Youth, Compliance, Digitalisation, Green growth, and Internationalisation. However, a common theme was the potential of Digitalisation and Economic Vision as tools for forging ahead. In the past months, SMEs demonstrated that they were vastly resilient in adopting several changes and introducing new ways of operations. Digitalisation proved crucial during such challenging times and brought new ways of doing business through the digital world. It provided an opportunity to open a virtual shop or provide a service without having a physical location. However, one must be trained on the management of digital websites and safeguard one’s business from cyber-attacks. Therefore, the demand for a new skilled workforce in the digital world has surged. Throughout the discussions, it was widely acknowledged that SMEs need to accept the new norm and embrace such change to flourish and grow. What is Malta doing to attract FDI in the technology and digitalisation sector? Competition for tech investment is enormous, and we are effectively competing with other countries across

Therefore, being aware of what each market is after, through active research and keeping abreast with current economic, political, social and technological developments both locally and internationally, is essential towards promoting Malta with potential investors. While geographically speaking, we may be small. We proudly transformed that ‘drawback’ into a golden opportunity in our favour. Our agile and fast-moving advantage proved essential for digital start-ups to test their products before launching in international markets. Equally important is that we are aware that the local tech sector has its unique qualities, which set it apart from its competition, which will ultimately enable us to ensure growth for the technological sector in Malta. Furthermore, the Maltese Government has also acknowledged the importance of the proper strategic tools in the digital sector as the key to shaping its competitiveness on a global level. Therefore, Malta remains at the forefront of implementing digital policies to help attract tech business, namely the National Digital Strategy 2014-2020 and other strategies aimed at different industry verticals such as Blockchain and AI. Thanks to these efforts, the digital sector in Malta has grown exponentially over the past few years, with the sector currently contributing to almost 9% of Malta’s GDP; this augurs well for future growth. Malta’s accessible economic environment and tax incentives demonstrate a flexible work setting that offers numerous benefits to foreign investors searching for an attractive and reliable business opportunity. 11

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THE VOICE OF BUSINESS 12

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Marisa Xuereb has been a member of the Malta Chamber of Commerce for over 20 years, becoming more engaged when she joined the council a little over six years ago. Thus, she was asked to join the management board during her second term in the council. Having recently reached a new milestone on the 24th of March 2021, in which the council elected her as president of the Malta Chamber 2021-2023, Lyndsey Grima caught up with Marisa to talk about the economy’s strengths, struggles and how Malta can remain an attractive location for business.

Ms Xuereb, you, and the Chamber are known for doing your utmost to strengthen ‘the voice of business’. So, how do you ensure that is done? I believe that to be a strong voice; you need to be a very attentive listener. The Chamber listens very carefully to what our members have to say through several business sections, thematic meetings, surveys, and visits to our staff and Council members. We also engage with many other stakeholders, whether policymakers, regulators, educational institutions, academics, diplomats, or foreign investors. Through this active engagement, we gain insights that can help our members map their future. We then forward the ideas and aspirations of our members. We try to stay ahead of the curve, anticipating what the following challenges are likely to be so that we can make solid proposals that are taken seriously on behalf of our members. And we communicate as widely as we can, with frequent engagement with the press that generally appreciates the work we put into our position papers and statements. You have previous experience in the manufacturing industry, as well as a degree in economics. That is quite a combination! Do you think this has been a significant factor in helping you to understand local businesses’ needs? Admittedly, not too many economics graduates settle into the manufacturing industry. However, I’ve been working in a manufacturing FDI for almost 25 years, and it’s one of the widest windows you can have on business, not just locally but also internationally. You’re constantly facing competitiveness issues because your customers and suppliers are mostly overseas, and you need to keep venturing into more sophisticated products to maintain your market share. You’re dealing with foreign investors all the time, frequently travelling to visit plants in other countries, and you can have an objective view of the local economy. The academic background in economics helps rationalise thoughts and know when people tell fairy tales or talking sense. It also makes certain technical reports much easier to read, understand and apply to the local scenario.

You are the second female president of the Chamber, after Helga Ellul. Have you ever experienced challenges related to gender? I have experienced all sorts of challenges, and maybe some were gender-related, but I’m not in the habit of dwelling on these things. Also, some people may not be used to dealing with a woman in specific roles. Still, experience has taught me that if your thoughts are clear and you communicate them with conviction, you will gain people’s respect, and they will get over any gender biases they might have. Good governance, sustainability, technology, and people are the four essential economic pillars. Do you think they are being prioritised enough? If not, what is lacking and why? These four pillars are the basics of any functioning economy today. We need to understand more about the long-term goals and how what we do today sets us up for success or failure tomorrow. There is a lot of low hanging fruit that we overlook. We spend a lot of money on education, but we have very mixed results. We struggle to attract youngsters to pursue technology-based careers when we know the future is technology-driven. We talk about sustainability all the time, but most of the population does not know what it means. And we have politicised good governance to the point that it’s become a divisive topic. It seems like we’re burying our heads in the sand all the time because we do not want to implement any policies that set boundaries of any sort. As foreseen, the pandemic hit businesses tremendously, most notably the tourism and catering industry. Summer months are usually a strong point for businesses. Were there any improvements over the last couple of months? Yes, the vaccines work, and as countries improved their vaccination rates, tourism started picking up. But, of course, we are nowhere near where we were in 2019 because many people continue to be cautious about travelling. In addition, our policy concerning incoming tourists under 16 years of age has meant that families with children could not travel to Malta. Nevertheless, suppose numbers remain under control in Malta and other 13

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European countries; in this case, the winter season can be decent, especially if the vaccine starts becoming accessible for under 16s in other countries. You were the first high-profile person in Malta to suggest robot workers solve staff outages in restaurants. How was that perceived? Do you think our workforce is ready to take up these new jobs? The digitalisation of those jobs that a robot can efficiently perform is one area where we tend to bury our heads in the sand very quickly. Greece now has robots sorting its parcels. We will see more of these developments in several industries in other countries. When you talk about robots here, people start fearing they’ll lose the jobs they don’t want to do anyway, and entrepreneurs are reluctant to invest in technologies they do not understand well. We, therefore, need to start piloting these technologies with some financial assistance from the government. But it is politically challenging for the government to support financially initiatives that may be perceived to be a threat to jobs.

at the office, at least a couple of days a week.

We talked about businesses struggling during the pandemic. However, some also rose to the challenge, expanding their businesses digitally and allowing employees to work remotely. Do you think that is an advancement that is here to stay?

It also means that we need to help those businesses that have exhausted their growth potential locally to extend their market overseas. For businesses to do all this, the country must have a good talent pool to tap into, the proper infrastructure in terms of energy, transport and communications, an efficient public service, a justice system that works, and an international reputation that sells. Much of this depends significantly on how the country is run. Therefore, we are constantly pushing the government to improve our educational system, our infrastructure, our public service and the functioning of our institutions, and the positioning of our country internationally.

The experience of remote working has been varied, mainly depending on the preparedness of each business in terms of software, hardware, skills, mindset and corporate culture. For example, companies that were already cloud-based and could supply their workforce with appropriate hardware had smooth transitions quickly. Likewise, those with a skilled workforce and a strong leadership mindset, whereby employees feel they can manage themselves, did well. Those who relied heavily on physical supervision suffered greatly. Hybrid is likely to be the long-term solution as most employees who can do their job from home are valuing the flexibility of remote working but have become acutely aware that there is an important social aspect to being part of an organisation, and that nurturing requires being physically present 14

What’s next for the Chamber of Commerce? How will it aid businesses towards the path of recovery? The primary mission of the Chamber of Commerce is to ensure that Malta remains an attractive location for business and that the businesses that operate in Malta remain competitive and resilient. This means that we must constantly encourage businesses to make smart investments that will enable them to be more efficient, have a more capable and productive workforce, and be prepared to meet future obligations of environmental sustainability and good governance.

So, while we help many individual businesses that request assistance on issues, most of what we do aims to improve the business environment for everyone. Members of the Chamber of Commerce do not just have access to the broad range of services and networking opportunities that we offer. They are also actively contributing to a better future in Malta, and this is something that our business community is very proud of.

I believe that to be a strong voice, you need to be a very attentive listener.

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t’s no secret that businesses have taken quite the hit in the last few years due to many external factors. So, what was the impact of these factors on businesses, and how are they adapting and evolving despite the challenges?

COV E R STORY

Leading in distruption The importance of building a digital culture Lyndsey Grima caught up with Dana Farrugia, Tech.mt’s CEO, to discuss the accelerating digital revolution and where Malta stands in building and expanding its digital backbone. What’s the way forward for businesses, especially after being crucially hit by several external factors in the last few years, and how can Tech.mt help local businesses get back on their feet? Dana Farrugia shares her insight.

Malta’s tech sector has displayed extreme resilience in the face of the COVID-19 pandemic, given that it still registered growth. In addition, it displayed the fastest productivity growth over the past decade. This is mainly attributed to the investment in innovation, research and development that did not halt during the pandemic. In 2020, especially, the importance of digitalisation across all industries had gone from optional to mandatory. So, the past months were a game-changing risk, not just for adapting to the pandemic but also for adapting to a more digital future. The tech sector has been the backbone of most of the other sectors during the pandemic who benefitted from the robust infrastructure and various incentives that Malta offers in this regard. Therefore, it is good to note that in the first half of the year, the technology sector was one of three sectors that positively contributed to the economy despite COVID-19. The total GDP attributable to the ICT industry amounted to €1.1 million in 2020, a 15% increase over the previous year. This represents 9% of the nation’s GDP. Whilst by no means is Malta immune to the global economic downturn, its 17

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Tech.mt will continue to play a vital role in ensuring that technology and digital platforms are exploited to their full potential, guaranteeing a digitally resilient and innovative economy economic performance throughout 2021 shows that it is well poised for a gradual but positive recovery. Indeed, major credit rating agencies rate Malta, as one of the strongest economies in Europe with minimal unemployment levels. Malta’s credit ratings vary between A- and A (high) with stable outlook. Recent government and private sector direct investment have paved the way for innovation to flourish. The pandemic has undoubtedly accelerated the need to adopt technology and digitalisation in operations. Diversifying our economy to create room for new niches such as AI, IoT and Blockchain technology will help cement our position as a hub for innovation and technological advancement. 18

The need is to embrace this new norm, invest, diversify and ultimately come out of this pandemic stronger and as a technological leader on the world stage. At Tech.mt, we understand the current position of technology companies and start-ups and the type of assistance they may require to expand their potential. Tech.mt has been strongly proactive in assisting businesses to apply for the proper grants and incentives offered by local entities and advising a clear direction towards their growth during these challenging times. It has also made sure that specific grants and funding schemes are re-dimensioned to ensure that these also cater for the local tech sector. Tech.mt has also been investing its time and resources in promoting Malta with specific foreign

universities and partnering up with local education institutions to improve the influx of professionals in the market and meet the industry demand. As the government rolls out incentives to fight the effect of the COVID-19 pandemic on businesses, these need to invest in digital assets that will help businesses become sustainable and future proof. Therefore, re-financing and business strategy modelling should include managing debt or reallocating finances and investment in digital solutions that will become one of the most valuable assets once the pandemic is over. Post-COVID-19, businesses will hit the ground running only if they have invested in the latest technologies to reach customers fast and if

the business has established a robust digital presence. It is a path that would have been journeyed anyway, but now the pace must be accelerated substantially. Tech.mt is always available to assist businesses to fulfil their business goals. In addition, we continuously drive research and market intelligence on the global tech community, understanding market demand, consumer opinions and risks. How do you think the leadership perspective has changed due to these hardships? Industry leaders had many tough decisions to take in the past months. Recognising that a company is facing a crisis is one of the leaders’ first steps. Although this is challenging,

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Locally, we have a small but rich pool of innovative start-ups and small businesses, disrupting and reshaping the tech industry with their solutions

it is necessary during these extraordinary times. What is essential is to remain focused and take an optimistic viewpoint that will prevent any overreacting and secure a positive outlook ahead. In addition, by empowering the people around them, leaders will be able to make the right decisions across the board. Despite these challenges, many organisations have found ways to thrive. The requirements for leaders in all industries have rapidly shifted, resulting in a widening gap between those leaders equipped for these new realities and those who are not. Thus, leaders need to think creatively about business strategy and manage people to navigate the next phase of COVID-19 to build a successful future. As the digital revolution accelerates, business environments are changing in significant ways. Suppose businesses want to keep up with the momentum of the evolving market and maintain alignment with their surrounding ecosystem. In that case, you will need to recognise the need for change as you think ahead. Business

leaders must leap and become the knowledge-driven innovative entity they inspire to be. How do you think a digitised culture will help businesses in the future? Malta continues to build and expand on its already solid digital backbone. Home to several data centres, solid and reliable internet bandwidth and connectivity, together with 5G testing underway, Malta continues to position itself as having the capacity to continue attracting tech companies. International studies have recognised this, including Europe’s Digital Economy and Society Index for 2021, which positioned Malta in 6th position. Locally we have a small but rich pool of innovative start-

ups and small businesses, disrupting and reshaping the tech industry with their solutions. Many have successfully exported their solutions to foreign markets, retaining their operations in Malta. In addition, our educational institutions produce high-quality human capital because of the high share of ICT specialists and ICT graduates. The latest EU Innovation Scoreboard highlights Malta’s enormously increased performance (+14.9 % points), with solid performance increases recorded in 2018 and 2019. Malta’s full embrace of new technology is evident across all innovation dimensions assessed by the study. This augurs well for the future in the digital sector. Tech.mt has been instrumental in pushing

policies and strategies for a more holistic digitalised society to be implemented. We will continue with our role of influencing said policies based on the feedback received from the industry. What makes Malta in its complexity an attractive place for investment? The productivity increase over the past years reflects the firm basis of the tech sector and Malta’s attractiveness, including its skilled workforce, strong educational institutions, robust telecommunications infrastructure and various incentives that continue to bolster Malta’s attractiveness. From a technology and innovation perspective, Malta retains its attractiveness as a global hub with a skilled 19

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talent pool and progressive mentality to endure and transform toward a new norm. This is confirmed by the high rankings achieved in the European Innovation Scoreboard 2021 Study and Global Startup Ecosystem which has proven Malta as one of top innovative and emerging ecosystems in Europe and beyond. As per the Malta Competitiveness Report 2020, participation rates in education and training among the 25-34, 35-44, 45-54, and 55-64 age groups increased across all ages. Digital transformation is sustained if the economy’s core is also adapting to digitalisation. Therefore, it is mundane that the public sector is an enabler of growth and the main driver. Digital education, reskilling, and upskilling are necessary through any digital shifts happening both in the present and future. Indeed, Malta has been classified as one of the EU Member States with the highest performance increase in human resources (+30.9%),

Tech.mt has a massive responsibility in pushing the reset button and creating an economy based on digital resilience and innovation 20

measured on new doctorate graduates, population with tertiary education and lifelong learning (EIS 2021). On this front, Tech.mt has also continued to strengthen the academic interchange in technology and research by signing eight agreements with the University of Malta and eight partnering Universities in Italy. Malta is well-positioned to capitalise on its current capabilities. Tech.mt will continue to play a vital role in ensuring that technology and digital platforms are exploited to their full potential, guaranteeing a digitally resilient and innovative economy. In what ways is Tech.mt promoting Malta and local businesses? Tech.mt aims to put Malta at the forefront of the tech industry on a European and global level. Thus, it gives more opportunities and exposure for local tech companies while attracting foreign entities to start up, operate, and trial their novel technologies locally. With the ambition to become the first port of call for all companies wishing to establish their base in Malta, Tech.mt is focused on establishing itself as a compounder and unifying force with a clear and targeted focus on technology. Furthermore, by organising networking events between start-ups and investors and establishing a solid rapport with international angel

investors, venture capitalists, crowdfunding platforms, business accelerator programs and private equity firms, we strive to position Malta as a hub for quality and creativity in the Tech and Innovations industry. Tech.mt has been instrumental in encouraging businesses across industry verticals to go through digitisation and get their businesses online, mainly through informative webinars

and extending its contact details to all businesses in need of advice, support and information about available grants to tap into. With the pandemic exposing the digital divide across different segments of society, Tech.mt has also pledged its commitment to ensuring that those left behind continue to receive opportunities to cope with the digital transformation COVID-19 has brought to bear. Through its transformative and proactive

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Tech.mt has been instrumental in pushing policies and strategies for a more holistic digitalised society to be implemented values, Tech.mt continues to promote technology as a tool, a necessity to empower digital innovation, connect the digital supply chain and bridge the digital gap. A proactive reach-out to businesses operating within the sector was held during 2021, reaching over 200 companies and relevant stakeholders during the past months. The primary recipients were local tech players from the private sector, other governmental entities, foreign investment offices, trade promotion organisations, and businesses operating in other sectors but with the ambition to implement digital solutions. The drive to further consolidate communication with the industry was a calculated exercise to ensure that different segments were reached, from the prominent players to the small and medium enterprises and the start-up community. At Tech.mt, we recognise that there is no one-size-fits-all for promoting Malta’s attractive attributes. It all boils down to our target audience. Each market or geographical region will have its criteria for making a host country attractive to invest in. We are also aware that competition for tech investment is enormous and that we are competing with other countries across the

globe, whether they are larger economies or developing countries. The Maltese government has also acknowledged the importance of the proper strategic tools in the digital sector as the key to shaping its competitiveness on a global level and has injected over €5 million in the entity to position Malta as the global technology hub of excellence. In addition, Malta’s accessible economic environment demonstrates a flexible working setting, offering numerous benefits to foreign investors searching for an attractive and reliable business environment. What’s in store for Tech. mt in the not too distant future? At Tech.mt, we continuously drive research and market intelligence on the global tech community, understanding market demand, consumer opinions and risks. This allows us to assist companies in distinguishing their brand from their competitors, commercialise their vision more sustainably, and become more resilient to this crisis. What’s next after COVID-19 is likely to be characterised by a blurring of market boundaries – of new collaborations to share risk, to co-develop and cooperate – and by more

customer intimacy. These new relationships will be both resilient and responsive. Companies with leadership and agility through the COVID-19 crisis can build on their positive actions to create stronger customer loyalty. Collaborative resourcesharing models do not only have the potential to improve enterprise resilience but also reduce risk. COVID-19 has shown all too clearly the deficiencies in linear, remote supply chains and just-intime inventory management. The value chains were lean, but they weren’t flexible. By developing value networks, looking at reshoring, distributing dependencies and building clusters for research and development, companies can accelerate innovation and insulate the enterprise from shocks. As organisations transition to this new phase, they must also consider what is to come beyond, as crises of this scale are sure to reshape the competitive landscape. On the other side of the crisis, the world may look very different, with different norms, rules, competitors, and value propositions. To remain relevant in this new world, companies must engage with multiple stakeholders to reframe their future and build long-term value and a new

value-based economy. Tech.mt has a massive responsibility in pushing the reset button and creating an economy based on digital resilience and innovation. The pandemic has been a wake-up call that we need to transition to a more digital economy. But, if we genuinely want to have a resilient and effective recovery, we need to bring all stakeholders from all levels to the table with the government to design the kind of future we want for our country, our economy and our people. And without any doubt, the future Tech.mt envisages is digital, and our team is well placed to assist local businesses to get all the help and assistance they need on their digital journey. In the coming months we shall continue to strive to deliver upon our mission to expand the local tech sector by assessing the market for niches and untapped potential, which the Maltese tech companies can tap into to advance, grow and internationalise. Furthermore, educate the tech sector in managing business growth, ensure readiness for potential investment and internationalisation. Finally, building a nurturing and supportive ecosystem, is essential for the local tech industry to flourish and grow. 21

TECHMAG TEC H FOR GOOD

The Smiles for Miles initiative seeks to create funds for mental health projects. Unveiled by Dr Lydia Abela earlier this summer, the app will contribute to a nationwide counter that will pump private funding to community initiatives through physical exercise. Dayna Camilleri Clarke caught up with the team behind the innovative concept. Earlier this year, you unveiled a new app. So what exactly is Smiles with Miles? Smiles with Miles is an initiative that encourages physical exercise such as walking, jogging, or running in one’s daily routine. In parallel, it provides help and support to those in need. Sponsors will then convert the miles covered into a donation targeted at helping young people by supporting their mental health. How did the idea for the Smiles for miles app come about? Dr Abela initiated the idea during the 22

worst times of the pandemic when mental health issues were on the rise. Unfortunately, the COVID-19 brought suffering and fear amongst people and impacted nations worldwide. She emphasized the need to promote awareness regarding mental health as it is known that this pandemic led to various mental health issues. This idea was discussed with various professionals, including the Commissioner for Mental Health, who promptly assisted and developed her idea further. Smiles with Miles is a project through which we are targeting two themes -

physical exercise and mental health among young people. When a person walks while using this app, miles accumulated are then converted to raise funds for the benefit of adolescents in need of support. We are pleased that following the launch of this app in May. There was very positive feedback from the public as many people started using this app and started walking or running daily. Moreover, depending on how many miles are covered, people can win numerous and various gifts thanks to the sponsors who are participating in the initiative

TECHMAG Dr. Lydia Abela

and supporting the cause. The main goal of Smile with Miles is to encourage people to enhance their physical activity. Eventually, the funds raised will set up various services for people suffering from some form of mental illness. Why is this important?

reached. Following the launch of this initiative, Dr Abela received many positive comments from people showing interest in participating. The number of persons using this app is continuously and consistently growing, and we look forward to viewing the final results of the campaign.

This initiative can genuinely make a difference in peoples’ lives and is beneficial to one and all. Keeping ourselves active is of utmost importance. Those participating are doing something beneficial to themselves and contributing to the improvement of the lives of others. At the same time, through the physical activity encouraged by the Smiles with Miles campaign, we will also target other national health issues such as obesity.

What has the reception to this idea been?

welcomed by various nutritionists and fitness instructors from around Malta. As highlighted earlier, the feedback from the general public was wholly positive, and this is demonstrated by the number of miles covered and shown on the app. In addition, we received many messages on our page from people saying – with great enthusiasm - that thanks to Smiles with Miles, they have now introduced walking as part of their daily routine.

Smiles with Miles is a solid but straightforward initiative that aims to help the public embrace exercise more regularly. This could be a walk by yourself to relax your body and mind or even a walk together with family and friends. Everyone stands to gain from this initiative as it supports a healthy body and mind.

Our team is already satisfied with the outcome since the targeted number of miles has already been reached. However, our work is not over yet. We need to keep up the momentum and continue encouraging more people from all walks of life to increase their physical activity, and as a result, stimulate both their physical and mental health.

The idea was also endorsed by professionals such as Dr Anton Grech and the CEO of Sport Malta and was

Smiles with Miles allows us to help those in need and put a smile back on their faces by also taking care of our wellbeing.

Are you seeing any results yet? Yes, most definitely. The target which was set in May has already been

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D I GI T ISIN G

INSURING A DIGITAL FUTURE 24

As technology continues to develop and we find ourselves living in a highly digital world, Giselle Borg Olivier speaks to Javier Moreno, MAPFRE Middlesea’s CEO, about its embarkation on a digital transformation experience for their client base.

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When did the idea of requiring a digital transformation happen? What led to this decision? The transition of mindset and overall approach from being a ‘digitised’ company to one that could be transformed by being Digital happened, relatively speaking, quite some time ago in the Mapfre world. Towards the latter part of the 2010s, where the efforts of digitisation had been completed by businesses such as ours, led to (or spurred on) significant changes in customer needs and expectations. There was a heightened emphasis on value, speed and effectiveness. Successful companies have always raised customer expectations, so this was a natural transition for us here at Mapfre. We appreciated early on that we needed to move away from the centralised approach and shift to more of a crossdepartmental effort and responsibility. This is when and how the digital transformation came into being. The core concept of our digital transformation ambitions revolves around the customer and their needs. This intrinsically requires

strategies that support a dynamic work environment to evolve work cultures and empower our teams with flexible, innovative, customerfocused technology. This evolution helped us reimagine how we utilise our people, implement our processes and effectively use digital programs to rise to the more-than-apparent change in consumer expectations. Did embarking on a digital transformation change how the company interacts with those clients who prefer a face-to-face service? We are committed to continuously improve all the channels through which our clients decide to interact with us. Our regional offices in Floriana, Birkirkara and Luqa, part of our multichannel approach, have also benefitted from our digital transformation ambitions. We wanted to ensure the best in market digital solutions while at the same time retaining that everimportant human touch. With that concept in mind, we successfully launched interactive pen displays at every customer-facing service desk. These devices extended our service abilities by enhancing the interaction process that we have with our

clients through the real-time display of the service process. We also introduced direct digital signatures through this technology, effectively replacing the traditional pen and paper process. This speeds up the service, as we are removing steps of print-scan-retrieve and immediately sending documents in a digital format, something that more and more clients are asking for. Has there been a shift in the insurance industry that makes digital a requirement for insurance agencies to offer a good service? Digital customer service is the present and future for all businesses; this includes the service that the insurance industry offers to its clients. As more time passes, customers are opting to use multiple conversation channels and expect more personalised experiences and innovative services. A testament to this was our response to the COVID-19 pandemic, where we accelerated the launch of digital insurance service forms. In the world of lockdowns and uncertainties, we were determined to ensure that our level of service and commitment to our clients,

especially in claims, remained unaffected. Through the technologies implemented, we are proud to say that our service offering was immediately embraced by our client base and allowed us to continue offering a largely uninterrupted insurance service. It was so successful that we further strengthened our position in this field by digitising all our services. So, if you need to register a claim, query a service agent, check your policy coverage, or buy directly, you will be able to do so digitally with Mapfre Malta. What can we expect to see next from Mapfre? Our customers have always been at the heart of everything we do here at Mapfre. We intend to continue strengthening that approach through an enhanced customer experience service offering. Through further investments in our core systems and operations in areas such as artificial intelligence-powered platforms, we are committed to creating greater and better customer experiences for our clients in the spaces they inhabit and making it easier for them to get what they want and need through the channels of their preference.

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SPAC E

Astronaut Thomas Pesquet with the BioCube

OUT OF THIS WORLD 2021 was the year that Malta made its giant leap by entering the space programme for medical research. Giselle Borg Olivier spoke to Prof Joseph Borg, the academic brain behind the mission, about medical research, the space effect, and this programme’s future. 26

he idea behind Project Maleth, or The Maleth Programme, was to develop medical research into the effects of wound ulcers suffered by Type 2 Diabetes patients. Prof Joseph Borg, the academic from the University of Malta behind this mission, explained that the idea was put forward to the Ministry of Foreign and European Affairs for the simple reason that experiments needing to be sent abroad, and especially on board the Space Station, required a foreign and international element.

The ministry immediately subscribed to the idea of sending a first local study to space, and although this happened in 2020 when COVID-19 was already part of our lives, this did not stop the team. Prof Borg believes that, more than likely, it was the situation of living in a pandemic that allowed them to think a bit more out of the box.

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next-generation sequencing. Traditionally these swabs are streaked on an agar plate (a small circular plate that grows the bacteria); there is a cultured identification and eventually sensitivity assays, so one would see to which antibiotic these bacteria would respond.

Prof Joseph Borg

The Research Type 2 Diabetes This project was entrusted to Prof Borg; however, the design of Project Maleth is a small part of an ongoing PhD study by his student Christine Gatt, whose PhD project studies 200+ patients with Type 2 Diabetes Mellitus. Many patients develop wound ulcers or diabetic foot ulcers that can get infected and, if left untreated or unattended, would require the patient to undergo an amputation. In Malta, there are 400 amputations every year related to Type 2 diabetes and wound ulcers. So Prof Borg’s team worked closely with clinician and vascular surgeon Prof Kevin Cassar and his team. They’re the ones who meet and talk to the patients and ultimately take the samples. The sample comprises taking types of blood and biochemical data sent to the hospital labs. In addition, for the first time in Malta, a wound swab from the ulcer was taken to conduct

In this day and age, the post-genomic era, DNA tools are used to read the DNA of bacteria; therefore, taking a sample from the wound itself and performing a DNA test will invariably catch all the bacteria and present all the data needed. These bacteria are present in the oral mucosa, the gut, the colon, and the skin. In the case of diabetic patients with wound ulcers, the problem occurs if bacteria penetrate the skin and infect the ulcer as this can cause blood infections like septicaemia, or if it penetrates the bone, it could lead to amputation.

The Space Experience Prof Borg explained that he is a member of an analysis group at NASA Gene Lab, a small group of likeminded people interested in molecular biology, genetics, medicine, space science and biomedicine. Having a personal interest because of his background in blood research, Prof Borg contacted two key people who had published a study based on a NASA study about twin astronauts, Mark and Scott Kelly. One went to space for a year, and the other remained

on earth. Their study showed extensive data concerning blood profiling and the important inflammatory markers in the blood that stimulated Prof Borg’s interest because of the conditions studied locally, such as thalassaemia and sickle cell disease. Through NASA Gene Lab, Prof Borg enquired about what it would have entailed sending a cell culture or a blood culture experiment to space and back. Unfortunately, this wasn’t within reach at that time; however, there was the option to send other samples, such as human saliva samples which contain the oral microbiome, and human skin samples, which contain the skin microbiomes. With Prof Borg’s PhD candidate working on human skin microbiomes, the study turned out to be the perfect candidate for space experimentation. The thought basis behind the experiment was that

since these bacteria are very resistant, thus making them very difficult to treat, how would they react to the extreme environment of space? But, unfortunately, there aren’t many benchmarks or reference tests for comparison purposes, making this a very innovative experiment. In fact, in recent weeks, there were other experiments taking microbiomes from astronauts in space and sending them to earth for analysis, which could be used as a good comparison study. The team opted for human skin samples to test the human DNA of the skin itself and in the microbiomes. They first performed a local study by leaving the bacteria in a specialised buffer for around 50 days to see what would happen to them, and after 50 days, they saw that growth was still happening, which proved that this system worked. 27

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Prepping the BioCube in Belgium

The BioCube The pinnacle of the experiment lay in the planning process to get the actual cube set up. The team collaborated with Space Applications Services, a company in Belgium that owns a facility onboard the European module of the ISS that houses the ICE cubes. Prof Borg explained that this is similar to a cupboard with drawers, and in a drawer, one can place and plug in the cube; from that moment on, you have access to the cube. Arkafort, a private company that focuses on technology, connectivity, and cloud services, offered their help and support and expertise in connectivity purposes. In addition, they had 24/7 access to monitor the experiment and ensure that everything was going according to plan. Prof Borg explained that the beauty of these cubes lies in their modular concept as this means that they can be deployed in different ways as if one were building Lego. Of course, a heavy engineering component goes inside, but the experiment designs, especially in biology, entail a heavy biomedical and life science aspect. There were several milestones leading up to the actual space launch, from flying Malta to 28

Belgium with the samples to prepare them for the cube and ensure that there were no leakages; sending the samples from Belgium to the Kennedy Space Centre in the USA; and finally, having to assure oneself that the cube is physically present on board the SpaceX rocket! Prof Borg explained that the last ‘milestone’ weighed on his mind because there was no one to confirm that the cube was inside the SpaceX rocket. Once the rocket had launched, he had to wait a couple more days to receive information that the astronaut had successfully handled the cube. A schedule was then sent which detailed the times when the astronaut would handle the cube. “This was when it started getting real,” said Prof Borg. A defining moment was when astronaut Thomas Pesquet said that he was happy that Malta was one of the players in space. Prof Borg said that since he was aware of the cube having its operating system, he asked whether it was possible to upload and open files, such as Word documents or photos, and the answer to that was ‘yes’. Therefore, school children around the country were allowed to send their artwork, crafts and messages into space through the BioCube. This initiative promoted the idea that

even though space is so farreaching, it is still within their grasp. Prof Borg thinks that the fact that their messages did travel to space still hasn’t sunk in for many people, and he is very grateful to those people who congratulated him on the mission as “it’s very encouraging”, he says. Prof Borg confirmed that, since the Maleth Programme commenced, several subsequent missions have been planned, with the following experiment scheduled for December 2021. This will focus more on a machine learning AI computer science experiment. Furthermore, there was a lot of interest from the private sector, who are looking into the possibility of flying their product or idea into space. In May 2022, there will be another biological experiment going onboard the space station that will consist of a combination of what was seen in Project Maleth’s first cube, a biological payload, and what will be witnessed in the December launch of a machine learning computer science cube. The experiments in May can then be analysed in real-time instead of waiting for them to come back. This can provide important information and data for the team to refine future experiments.

Prof Borg said that such space-based experiments could be used in various sectors, such as engineering, physics, art, manufacturing, and others. Most materials can be tested, be it concrete, a chemical, fibre optics, or cables, to see how it withstands the space flight and the harsh environment of space to test tensile strength and stress over a specific duration of time. Of course, one would need to filter what is innovative and what isn’t, as specific results or products are already available; however, this is an emerging sector.

Why do we access space? There are many reasons, but primarily it is the microgravity, i.e. the lack of gravity”, explained Prof Borg. For example, in the case of Biological Sciences, cells will grow in a spheroid or organoid manner, meaning that they are like a ball of cells instead of a flat-based experiment. Although these can be grown in labs on earth, the lack of gravity means there is no problem with sedimentation, so the experiment fidelity is higher. Moreover, these spheroids grow ten times larger in space than on earth, making pharmacological testing, drug testing, and drug screening easier.

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Prof Borg envisages that there will be a demand for such experimentation, especially since these experiments can be linked with existing projects within the University of Malta. He explained that many projects related to cancer research could fit beneath this umbrella of testing under microgravity and similar stress.

exclusively deals with space exploration, venturing forth on the moon and possibly Mars. This is a sector that Prof Borg is certain will grow and, in doing so, will bring together many people with diverse disciplines and with a scope for innovation.

Solar radiation is another benefit – this instigates mutagenesis that creates DNA mutations because of the irradiation and thus creates double-stranded breaks in DNA. This is a perfect study to understand mutagenesis: how the cells repair the mutations, what mutations are not repaired, and the causes of these mutations.

In the case of usability, specifically Project Maleth, it is a fundamental science, which means that it doesn’t contain immediate translatable results that can be applied in a clinic, explained Prof Borg. However, basic and fundamental science offers insight, data and knowledge. In this case, the bacteria that come back to earth from space will be co-cultured and tested alongside those bacteria that remained on earth in a process called comparative genomics.

Currently, astronauts cannot remain in space for longer than a year or so because their body experiences a lot of damage through muscle wasting, problems in DNA, mutagenesis, ocular and vision issues, bone problems, etc. The astronauts themselves are living life science models or experiments. Experimentation is being performed to enhance or make the human body more adaptable to space. Advances in this area will facilitate future research that 30

How does the research get used on earth?

This process will uncover or identify important candidates, biomarkers, or signatures, and these markers could potentially be targeted to treat diabetic wound ulcers. By identifying essential genes, these can be targeted, and there will be two outcomes: either repurposing available medicine that had never been

labelled as being curative or effective; or the candidates can offer information and data for the pharmaceutical industry to design better treatments that, instead of being ineffective or taking a while to work, can be termed as ‘personalised medicine’. Prof Borg reiterated that at this moment, the data still needs to be analysed, so he was optimistic that the analysis would produce exciting results. He hopes they will have the preliminary data and results before the year ends, or possibly by early 2022. All material handling will be done locally by PhD student Christine Gatt as part of her research. Concerning the analysis, the team will be collaborating with the NASA Ames Research Centre and with the principal investigator there, Afshin Beheshti, and Christopher Mason from Weill Cornell Medicine. These two entities have sent material to space and back many times and therefore have the knowledge and experience that gives the team the confidence to work with them and learn from them. The Finances of Space Exploration While not all experiments will be successful, a small number of ideas will be

helpful, and these can have significant repercussions for humanity. When research is done in space, the idea is that the implications and the applications are implemented on earth. “Many people are unaware of this and ask ‘why waste money to send things to space?’ We do this to learn, push boundaries for research, and design better things,” clarified Prof Borg. The ministry put forward €66,000 towards Project Maleth; Evolve Limited and Arkafort matched this, both in cash and in-kind. Therefore, the whole of Project Maleth cost around €150,000. Is there an end date to the project? The cube has landed back on earth and is currently in Malta, and as people read this article, the first samples are being processed. The first mission will be concluded when the experiments are analysed, and the data is available and published. However, Project Maleth will persist for a small number of subsequent missions that connect life sciences with technology. People who have ideas that they want to put forward are encouraged to contact Prof Borg with their idea.

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REM OTE WORKI NG

SHIFTING

THE PARADIGM: FROM WORKING FROM HOME TO A HYBRID MODEL

Working from home has been a forced experiment during the pandemic, and now that the worst days seem to be, hopefully, gone, everybody is getting back to their “new normal” life. But, not surprisingly, this experiment left its mark, and while offices are reopening, many companies worldwide are rethinking the “prepandemic” working model. Federica Tadiello reached two companies in Malta that decided to embrace this new way of working, Richard Muscat Azzopardi, chief executive officer at Switch, a digital and brand agency, and Lena Nordin, chief human resources officer at Betsson Group Malta. 32

In March, Microsoft published a report called “The next great disruption is hybrid work - Are we ready?”. They surveyed 30,000 workers in 31 countries, and the results clearly state that there’s no way of turning back. Figures showed that 73% of workers now want flexible remote work options, and 66% of leaders say their company is considering redesigning office space for hybrid work. In addition, remote job postings on LinkedIn have increased over five times since the pandemic. So, it looks like flexible work is here to stay and that the hybrid model will define the post-pandemic workplace. Can you briefly introduce yourself and your role? Richard: I’m CEO of Switch, a small digital and brand agency. We

work with clients across several sectors to focus their message and grow their online presence in a meaningful way. We focus on quality metrics that make business sense and work with our clients to win where it matters, telling great stories to the right audiences at the right time. Lena: I’m an HR professional with more than 25 years of

experience. I joined Betsson Group in October 2017 as chief HR officer, and I’m responsible for developing and implementing Betsson’s human capital strategy. Based in Malta, I lead HR personnel across 12 locations globally which together employ approx. 2,100 professionals from more than 55 different nationalities.

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Have you ever tested the “working from home” model before the pandemic? Richard: Before the pandemic, we were

already incredibly flexible with our working conditions. Working from home had been allowed and even encouraged, and anyone could work from home any day. They did not have to be in the office for specific meetings. We were already also pretty flexible with “office” hours people could work very flexible hours. Lena: We have 13 offices in 12 locations,

so we have always had a level of remotework collaboration between the different offices, especially between distributed teams. iGaming is a fast, dynamic industry, and most companies offer a flexible working environment. However, this was not on the same scale as we saw during the pandemic or with the hybrid model we recently introduced.

Switch agency avatar meeting

naturally. Keeping our humans cared for was a more significant challenge. It still is. We take immense pride in running a business that cares for its employees first and foremost, so working remotely has created some challenges in this department. We are now making it a point to actively carve time out to speak to people informally before each meeting, for example, to make them feel cared for. We immediately implemented e-learning programmes for our employees and managers to support best practices when working and leading teams remotely. We also worked with the Stockholm School of Economics to roll-out a more comprehensive leadership training programme on this topic. We consistently kept our fingers on the pulse during this period and encouraged employees to share their experience and raise any questions in one-two-one and All Hands meetings. In the past 18 months, we also conducted five surveys to check how our Betssonites were doing whilst working from home. We found that the clear majority (~95.5%) were coping well and working effectively from home. Our offices remained open, with precautions in place, to cater to any employees who might not work from home for various reasons. We also asked employees whether they could still feel the Betsson spirit whilst working from home and had an average of 88% who said yes throughout the 18 months. We also found that 90% of employees were Lena:

Richard Muscat Azzopardi

What have been the most significant challenges managing a remote team during lockdown? How was the response of the team to it? The biggest challenges we find are not related to managing a remote team. If anything, managing a remote team is more straightforward than managing a team in the office. We work on the principle that we employ adults and therefore manage them like adults. This doesn’t change whether they’re in the same space as the rest or not. I could be in the office all day and waste every single minute. I could be at home all day and work productively. And vice versa, Richard:

satisfied with the level of communication with their managers and their teams. To boost morale, keep the energy up and support the Betsson spirit, we shifted our employee experience activities to online and developed new, digital activities. This allowed us to transform local initiatives into global ones, further strengthening the feeling that we are one global company. We received a lot of positive feedback that these initiatives have, to some extent, supported Betssonites, who felt socially isolated during this time.

We work on the principle that we employ adults and therefore manage them like adults. Richard Muscat Azzopardi 33

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What are the pros and cons of having a remote team from an employer perspective? Richard: Wow. This is a big question, and

it’s tough to answer because I believe we’re still figuring it out. More than pros and cons, I think that a remote team is a remote team and an office-bound team is an office-bound team. Some people work better in one and some work better in the other, and organisations will be defined by whether they’re one or the other as time goes by. Employees will therefore have to choose which they are and apply accordingly. If I must choose one of each, though, the biggest pro we’ve found is the flexibility it offers our employees (and the opportunity to employ people in other countries). The biggest con is the problems created for some employees who did not have a home environment conducive to working comfortably. Lena: As a multi-office company, we

have been reaping the pros of remote teams for many years. We feel that when done right, it allows for cross-location and cross-functional collaboration and more innovation. In addition, a better work-life balance creates room, and time, for innovation and higher productivity. Studies also suggest that remote meetings are more effective and might see participants who would not speak up in a physical meeting share ideas more freely, thus adding to the innovative mix. During the pandemic, one of the cons has been the risk for social isolation, and this might, of course, also spill Lena Nordin

We found that the clear majority (~95.5%) were coping well and working effectively from home. Lena Nordin over to the post-pandemic world. A conscious effort to promote the company culture, build team spirit and encourage communication within and between teams is needed when you cannot rely on impromptu meetings in the office to catch up. When the restrictions were eased, what happened then? Did you ask your team whether they prefer to work from home or the office permanently? Did you propose a hybrid model, or was it your employees’ request to maintain a more flexible model?

We had a lot of discussions as a team, and even though we mentioned coming back to the office at a few points, no one seemed to be willing to make the first step. We’re now in the process of creating a few office days for people to meet in real life over there, but we won’t be forcing anyone to come to work from there, especially since a quarter of the team is no longer in Malta. Richard:

Lena: At Betsson Group, we implemented

a pilot hybrid model which in Malta kicked off on 27th September. This allows Betssonites to work three days from home and the remaining two days from the office. We think that this captures the best of both worlds – the flexibility and less time spent commuting that remote work offers and the unplanned coffeemachine discussions that could lead to some new exciting project. How is the experiment going? Can you name some failures and successes? Richard: I think we’re past the

experimental stage now. We’ve had some of our best months as a fully remote team in the agency’s history, so I guess it’s working. Of course, it’s still not perfect, and all we can say is that there is much

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and then chat about random things over lunch with the whole team. We find that these slots help replace the water-cooler moments that we lack from not being at the office. We have issued a policy and Q&A documents for people managers and employees detailing everything there is to know about our hybrid model and remote working. The e-learnings mentioned earlier are readily available on the intranet. We will also pursue our commitment to training further our people managers on how to lead remote teams effectively and ensure success for our hybrid model. The hybrid model will be evaluated in December 2021. Lena:

more for us to do to improve the situation for everyone. But it’s working. We’re doing great work; we’re meeting in real life and building a sense of community that’s as inclusive as possible. I think the most significant measure of success is the reaction of the three people who joined Switch since we’ve been entirely remote. Every one of them feels like they are a full member of the team. They all adhere to our values, and every one of them feels like they get the whole Switch experience. If you care for your people, you don’t need to be in the same room as them for them to feel it. Lena: We’re still at the very beginning of

this, but we’re happy to see that the first few weeks have gone well. Our employees have so far embraced this new way of working and approached it with a positive mindset. As a result, we’re are once again seeing happy faces at the office! The Maltese health authorities’ guidelines for offices and workplaces still impose several restrictions on social distance, which, of course, makes it difficult for larger teams to come in simultaneously. We’re sure that once these restrictions are eased, we will see even more benefits with the model.

Talking about organising and structuring a remote working team, do you have a specific protocol in place? I am thinking about fully remote companies like Hotjar that have a protocol regulating the effectiveness of remote work. Richard: We don’t have specific protocols

like Hotjar’s yet, but they’ve had much more time to work on it, and they have always been a beacon for us because we respect and admire what they have done, not only in their approach to remote working but across the board. Different teams have found ways of working that suit them, and as long as people communicate well, we’ve found that we’re small enough to keep our working conditions relatively flexible. So, for example, some client-facing must be present during regular working hours, quite naturally. Still, our accountant can do bank reconciliations on a Sunday morning if she pleases to.

We have implemented human protocols, though, so we have three 15-minute slots every week where we meet online for a virtual coffee and a one-hour lunch slot where we give weekly company updates

This new way of working is an opportunity for recruiting practices too. Companies will have access to a larger talent pool instead of limiting it to a specific territory. What do you think? Richard: 100% on board with this. We employed a designer in Romania last year, and she’s become an integral part of the team. She enjoys all the same benefits as our local employees, and we expect to see more of this kind of recruitment in the future. We’re also receiving applications from people locally who would like to lead a more nomadic life. Lena: Looking for talent from all over

the world is something we have been doing all along. It is no coincidence that at Betsson Group, we’ve got colleagues from over 55 nationalities from 5 different continents, spread across four generations. This is what makes Betsson Group a melting pot of different experiences, backgrounds and ideas. 35

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TEST. FAIL. FIND WHAT WORKS. REPEAT. The Growth Hacking Mindset

Times are changing, and the defences between sales, marketing, products are breaking down. As a result, team leaders need to work cross-functionally to achieve growth. Federica Tadiello spoke to Raffaele Gaito, an Italian growth hacker and author, to know more about this phenomenon. 36

hat do Facebook, Airbnb and Dropbox have in common? Indeed, they’re all multi-billionaire and world-renowned brands born as Silicon Valley startups, but, apart from that, there’s something more. Something almost magical, I would say. These and other big tech companies share similar stories of abrupt and unexpected exponential growth. Let’s go back to 2007. Two young lads rented an apartment in one of the world’s most expensive cities: San Francisco. They soon realised that, if the city was too pricy for them, it should have also been for others, especially travellers. In desperate need of finding a way to pay the rent, the two decided to build up a simple webpage to invite tourists to book their place for a much lower price than a hotel in San Francisco. This experiment went well. So well that they started receiving emails from people who wanted their services to be available in other destinations, this is how Airbnb started. At this point, the two founders needed to find homeowners willing to rent out their property to perfect strangers. Although reluctant at the beginning to rely on Craiglist, the famous American

classifieds website, because of its dodgy reputation, the two soon realised that it had something they didn’t, users. Craigslist was full of people who were looking to rent out their houses. So the two young entrepreneurs started reaching out to anyone who posted on Craigslist, asking if they wanted to list their accommodations on Airbnb too. This process was manual and took a long time, but it was at zero cost, and above all, it worked. Thanks to their coding skills, they invented an automated tool that automatically reached out to new Craigslist postings. This led to viral growth and was the start of the enormous success of Airbnb. Reading this story, it looks like everything went smooth and straightforward. Still, before discovering this hack to snowball, the two guys had to face multiple failings before achieving any measure of success. In a nutshell, they followed a process made of “analysis-test-fail-repeat until you find what works”. This kind of approach, called “growth hacking” by the American author Sean Ellis in 2010, is widespread among many start-ups and big tech companies. It is the art of growing a business thanks to a good blend of data analysis, creativity and testing.

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Raffaele, can you please introduce yourself? My name is Raffaele Gaito, I am a curious person, and I love to experiment. I deal with experimentation and innovation. The Growth Hacking methodology allows me to help companies improve their products and processes using data, experiments and lateral thinking. I love talking about these topics and making them accessible to everybody. That’s why I have my podcast, YouTube channel, blog, and published several books. Can you explain what Growth Hacking is? It is a way of experimenting and innovating. Companies that want to innovate need to experiment, and faced with this need, they have two alternatives: they do it casually, without a streamlined process, or they do it methodically, and Growth Hacking is this method. It means working with a process, with the support of data and the right tools, and making experimentation a business priority and not something to do in your spare time. When and how did it start? It started in 2010 in Silicon Valley. In a world where competition is getting more challenging, small companies can no longer compete with big companies at budget level. So whoever is more significant than you and has got more money to invest can quickly overtake you. Growth Hacking was created to meet this need and move the competition to another level so that those who can experiment quickly and easily can move forward, not those who have more money. How can Growth Hacking help companies? What is the benefit, the added value, compared to other more “traditional” forms such as pure digital marketing (performance campaigns, social media, email marketing, etc.)? Growth Hacking is not comparable with

any of these things because it is different. Marketing is marketing, and growth hacking is experimentation. They are two different business areas with two different objectives. Marketing focuses on what works, while growth hacking looks for what might work. Is Growth Hacking suitable for all companies, or just for those in the digital and tech field? It doesn’t depend on the type of industry but on the way these companies work. To practice Growth Hacking, you have to make extensive use of data. This means that companies that don’t work with data cannot use it. A very agile structure and process are needed and, for this reason, inflexible companies cannot apply it. Also, you have to rely on a culture of failure and transparency; otherwise, you cannot use it. Ultimately, it’s a mindset. You are a consultant for several companies in Italy. What kind of entrepreneurs and businesses do you attract? I work with companies in all fields and sizes. I have had start-ups, SMEs, professionals, and corporate businesses among my client’s clients in the most diverse industries. What they have in common is that they understand the value of experimentation and want to get back into the game and innovate.

It is the art of growing a business thanks to a good blend of data analysis, creativity and testing. How do you become a growth hacker? What kind of background should you have? Are there any specific studies or recommended paths? There are no specific studies or certificates. Instead, you become a growth hacker with the right mix of theory and practice: studying the fundamentals well and, at the same time, getting your hands on real projects. I have an online academy dedicated to this, which is currently the best training in Italy for those who want to learn Growth Hacking. How did you personally approach Growth Hacking? Why do you feel it was “your path”, and why have you decided to make it your job? Because it was helpful to me in the first place, I’m an entrepreneur myself, and when I learned about this approach, the most natural thing was to try it for my projects. So then I started teaching it in Italy to make it known as much as possible, and today experimentation is at the core of my business. 37

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NOMADS

Malta opens its doors to Digital Nomads

It is hard to judge whether remote working will become the mainstream manner of working for good. However, what is sure is that at present, location-independent individuals are making the best of this period to explore working from different countries while quenching their thirst for travel and appeasing their itchy feet. Federica Tardiello spoke to Charles Mizzi, chief executive officer at Residency Malta, about Malta’s new proposition.

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Malta launched the Nomad Residence Permit earlier this year – a one-year permit for digital nomads to work remotely using communications technology. Remote working is currently at its most popular, spurred by the pandemic’s isolation across almost all countries worldwide. As a result, many employers were pleasantly surprised to find that working from home did not affect their business output. Indeed, some even registered increased productivity and staff motivation, along with other benefits such as decreased utility expenses. The launch of the Nomad Residence Permit has been very timely. How did it come about? Malta already hosts a significant digital nomad community consisting mainly of EU nationals who do not require any permits due to freedom of movement. As an agency tasked with the country’s residency by investment programmes, we keep tabs on the different facets of the global industry and realised that global movement increased in specific pockets, ironically as it was stifled in other areas, especially by the impact of COVID-19. The time was ripe to reach new niches beyond Europe. Residency Malta quickly reacted to this trend and launched a permit targeting remote workers and freelancers from third countries.

Our aim is to retain such talent by enticing digital nomads in Malta to stay on, change the purpose of their permit and prolong their stay to share their innovative ideas and set up their business here.

Who is eligible for the Nomad Residence Permit? Intended for non-EU nationals, the Nomad Residence Permit enables holders to retain their current employment-based in another country whilst legally residing in Malta. In addition, the permit is open to professionals who can work remotely and independent of location, using telecommunications technologies. Applicants who wish to work remotely from Malta for a temporary period of up to one year must prove they can work independent of location and earn not less than €2,700. Interested individuals should either work for an employer registered outside of Malta or conduct business activities for a company registered outside of Malta. For example, they are partners or shareholders or offer freelance or consulting services to clients whose

permanent establishments are in a foreign country. The permit is renewable at the discretion of Residency Malta if the holder maintains all the permit’s obligations. What would make Malta appealing to digital nomads? For foreigners working and living in Malta, the combination of an efficient business climate, excellent health care services available with a simple health insurance cover, and a Mediterranean island life offers a unique and magical experience. Additionally, the island now boasts a multi-cultural and cosmopolitan experience, a growing nomad community within which they can network, hubs offering shared office space and the benefit of speaking English that makes settling in fast and easy. And with Malta enjoying 5G nationwide coverage and over 400 free public Wi-Fi spots across the country, digital nomads can plug and play from anywhere they fancy. Thus, Malta can be a big player in the digital nomad and remote work revolution, and the Nomad Residence Permit is the first step in strengthening this ecosystem. Do you think a digital nomad movement is a step towards the 4th Industrial Revolution? Innovative initiatives like the Nomad Residence Permit by Residency Malta Agency indeed complement the opportunities created by the 4th Industrial Revolution. Before launching the permit, we engaged with several interested parties. One of the challenges mentioned was attracting highly skilled individuals who specialise in AI and Big Data. Like all knowledge industries, these sectors are ideal as remote working jobs. Our aim is to retain such talent by enticing digital nomads in Malta to stay on, change the purpose of their permit and prolong their stay to share their innovative ideas and set up their business here. This is also why Residency Malta is looking forward to launching another programme designed specifically for start-up founders, their family members and core employees. This is yet another new programme designed to elicit targeted interest to make valid and significant contributions to the Maltese economy. 39

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THE NOMAD QUEST Federica Tadiello is reaching out to Daniel Goebel, founder of Cocohub (the first Community for digital nomads in Malta) and nomadisland.org, to follow up on this project and know more about their plans. 40

It started as a dream of many young professionals based in Malta, and now the Digital Nomad Visa is a reality. In fact, in June, the government approved a unique scheme, allowing Non-Eu professionals to live in Malta for up to a year while working remotely, for the price of €300. To qualify, applicants must prove they are contracted to work remotely by a company based overseas, show that they run their own business, offer freelance service to clientele based abroad, and earn a monthly income of €2,700 (gross). You started having conversations with the government and other local institutions maybe, a year ago? Which institutions have you approached to make this happen, and how did it go? In December 2020, we wrote an article that the Prime Minister’s Office picked up in this magazine. All that happened later eventually led to the issue of a Nomad Visa, which is essentially a residency visa, giving access to thousands of non-Europeans to come to Malta. With the Digital Nomad Association, nomadisland. org, we opened a dialogue to get as many government agencies on board as possible. In addition, we teamed up with Dana Farrugia, CEO of Tech.mt, which helped us with some financial aid and sponsorship to create promotional videos to sell Malta as a digital nomad destination. Then we contacted Charles Mizzi, CEO of Residency Malta Agency and Alex Muscat, who

was Minister for Citizenship & Communities. They were both accommodating and open. Unfortunately, we didn’t get the timing right as we were in the middle of the pandemic. We are now back, working alongside the above government departments and tech industries to see the best way to maximise and attract as many remote workers as possible. We also have an open exchange with the MTA (Malta Tourism Authority) and the Gozo Ministry. Do you think the pandemic helped in creating such a visa? Yes. The world has realised that remote work is a viable option that doesn’t affect business operations and has many benefits. One of these is the opportunity for companies to recruit internationally by cutting costs. This happened locally to many iGaming companies that recruited people from overseas. Still, last year, with the borders closed, they had no other option than to recruit remote workers, and of course, costs dropped drastically. Many people changed their minds about the effectiveness of working remotely, especially in Malta, where the common belief is that people need to be controlled, which isn’t helpful and doesn’t bring out the best in people. What has been the reaction abroad among the nomad worker’s communities? Do you have an idea how many have applied so far? I don’t have precise numbers, but I know that the feedback was positive. However, I must also say, but this is not

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a surprise, that the image of Malta internationally has been heavily compromised by the murder of Daphne and the passport scheme. In our previous interview, you said that a few relevant laws are not enough to attract this audience. Digital nomad workers don’t choose a destination only for a visa, but also for a set of all other things like the presence of a fast and reliable internet connection, the presence of coworking space, a community of likeminded people, etc. Are you any further down the line? As I mentioned in my previous interview, nomads don’t choose their locations around laws or infrastructure only, but they primarily consider life quality. Nomads island’s goals for this year include a nomad conference and a coworking space in Valletta. Also, as soon as restrictions were lifted and it was possible to organise events again, we set up our “Sunset Club” meetings alongside a coworking operator. It turned out to be incredible! We see both locals and ex-pats joining our events, interested in the digital nomad lifestyle. Malta has a tremendous advantage compared to other “nomad friendly” countries. The island already has a significant IT workforce, with people coming mainly from abroad. Also, there’s an ample opportunity for international investors: I know of 3 co-living companies from the US, France and Germany, looking to invest substantial amounts of money in converting

old hotels into co-living spaces. The travel market is changing, and there’s a high demand for these kinds of accommodations. Another essential factor for nomadic workers is the possibility to get affordable accommodation for a shortmedium term let, which can be challenging to find in Malta. Is there any development in place? I think that the price of the apartment is not the deciding factor in bringing people to Malta, and it could be beneficial instead as it acts as a filter: if the cost of living is higher, we have workers with a higher income. The significant blocking points for accommodations are two, in my opinion. The first is that the house rental market hasn’t been regulated for a long time (even if things have changed lately), leading to a situation where providing a good service wasn’t a priority, as demand was higher than the supply. The second is related to our biggest markets (young remote workers from Germany and the US) are used to and eager to book their stay through web platforms like Airbnb or booking.com and are not keen to deal with real estate agents. I know there will be a nomad conference in Malta in November, which I believe it’s the first of its kind on the island. Can you tell us more about it? Back in spring this year, I spoke to Eman Pulis, founder of the Sigma conference.

Eventually, this year we will have our stage on the 18th of November during the Malta AI & Blockchain Summit (16th19th November). As a keynote speaker, Alex Muscat and other international key players in the remote work panorama will be present. We will be talking about the future of business and the impact of blockchain, cryptocurrencies and, in general, the future of our world. This is an excellent opportunity for Malta as there are not many conferences in Europe. Moreover, the island is a highly vaccinated country, which is an appealing feature during these times. I’ve seen that another project you’re working on is a digital nomad village in Gozo. It sounds exciting. Can you tell us more? Back in spring this year, Ronald Sultana, director at the Ministry for Gozo, contacted us to have a consultation about the possibility of having a digital nomad village in Gozo. Promoting Gozo as a digital nomad destination is now officially part of the development strategy for Gozo 2021-2030. On the other hand, we are working on creating a digital nomad hotel in the central region in Malta, with the capacity of 100 apartments: our goal is to attract as many remote workers as possible in the next few months, and the conference during the AI Blockchain Summit will be the starting point. We are still at the early stage of the whole movement, and we rely on the power of word-of-mouth to show the digital nomad community around the world what Malta has to offer.

AAC systems for some children will also support them to develop language, which is a necessity for learning at school

Daniel Goebel

One final question for you. We have known each other for a few years, and I know that you’re working hard to make this happen. What motivates you to do it, what is your vision and what is your “why”? Money is not an inspiration in the long term. I was more focused on the money side of things when I was younger, and I’ve learned that it doesn’t pay off. Instead, the love I’m receiving from people for putting my efforts into this project is unbelievable. And I have the opportunity to have incredible experiences, meeting amazing people from around the globe. And finally, I want to thank Malta again for all the trust and support I’m receiving and eventually enabling me to realise this dream. 41

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Abraham Abela

ack in 2019, the Government of Malta launched the national AI strategy based on a task force that had been established for this purpose. They studied various industries to find opportunities for AI to be implemented in the Maltese landscape, and their results were presented at the Delta Summit two years ago.

Intelligent or Artificial? Malta’s love affair with technology has grown stronger as the island presents itself as a testbed for technological developments. Giselle Borg Olivier spoke to Abraham Abela, MDIA’s communications manager, about Malta’s access into the world of artificial intelligence. 42

The vision of the strategy is that Malta will become the ultimate AI launch pad by 2030. The Malta Digital Innovation Authority (MDIA) was given the responsibility of overseeing the implementation of this strategy which consists of several action plans that target various aspects of life in Malta, aiming at both the public sector and the private sector. Mr Abela, explained how MDIA took the lead in this development. The strategic plan is laid out like a roadmap where each aspect is targeted with several action plans to avoid one industry using AI beneficially whilst other sectors are left out. There must be a level playing field across the Maltese Islands to implement this strategy so that AI can benefit everyone. In 2020, the MDIA launched a scholarship fund to incentivise students who wanted to further their studies in AI. The first call for this scholarship was limited solely to University of Malta students at Master’s level; however, based on feedback from the first year, the second call was made available to students studying at international universities. Furthermore, it was also available at both Master’s and PhD levels. The course isn’t entirely devoted to Artificial Intelligence, so people from various industries can apply for it. Therefore, the scholarship, for example, a lawyer could read for a Master’s degree and choose this option if AI is relevant to their specialisation. This year’s fund is €120,000, and 23 people applied for this scholarship term, a number that is promising considering that AI is still new to Malta and the subject matter is also relatively niche. Another call will be issued in 2022.

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“Seeing 23 applicants who would like to further their studies and incorporate AI is quite good for us, knowing that these applicants will incorporate artificial intelligence in their future work,” said Mr Abela. “It will have a ripple effect as those working with them will benefit from the knowledge that AI can be incorporated in their field; it doesn’t have to be in the technology industry.” MDIA is also directly involved in the balance between education and research – always within the field of artificial intelligence. The University of Malta has three research projects – Speech processing and text processing, and Edu. ai. The former two projects use artificial intelligence amalgamated with the Maltese language. In terms of speech processing, the MDIA’s role was to support through funding. Research is being conducted on software that will lead to a system where, if a person is speaking Maltese, the system will understand the language and deliver the relevant output. Speech processing can also be used for subtitles, where a local television programme can have subtitles in Maltese. “Let’s take an example that everyone is familiar with – Alexa or Siri. It will work in the same way and will understand and obey my command when I speak to the system in Maltese. Of course, it doesn’t mean that it will be exactly like Siri, but what the University of Malta is doing is to provide the necessary software that can ultimately be incorporated into alreadyexisting systems,” explained Mr Abela. Text processing works on the same basis but is based on written text rather than sound and can be used for chat bots in customer service facilities. This could be implemented across government entities to help reach a wider audience, including those who aren’t fluent in English, to make the process more efficient. The University of Malta is currently researching on developing such a system that will understand the Maltese text, and therefore the Maltese language, and using AI, will reply accordingly.

Edu.ai is the third research project where artificial intelligence is being researched as an assistive tool for educators and students. For example, researchers have created a doll with an AI-based programme that helps young students better understand the lesson by encouraging them to listen, understand and explain in a story format.

within the public sector. For example, one pilot project aims to use AI at traffic junctions to analyse the footage of actual traffic and regulate traffic lights according to traffic flow to decrease congestion and pollution. Using AI in customer service is also being planned on the service.gov platform, where the AI system can reply to emails.

These three projects form part of the national AI strategy. Works are also undergoing to establish an AI research fund to adopt public services using AI whereby ideas that are in line with government requirements can be brought forward. An example of this is the Karta Roza scheme that allows people to get access to certain medicines. The public will be encouraged to put forward their ideas that will then be evaluated to ascertain whether they can benefit from the fund.

Another pilot project related to education is being developed that will assess the results obtained by the students so that the curriculum can then be adjusted to tackle the areas where students are having difficulties and to understand the students’ capabilities. This project aims to decrease the number of students who leave school at an early age. There is also a pilot project in the consumer utility sector, where energy utility companies can use AI to analyse the vast amounts of data they hold. This data can assess malfunctions in systems as well as the unnecessary use of electricity in households. For example, a second fridge kept in a washroom could be using electricity because it’s never switched off, although the appliance itself is not being used to refrigerate goods.

Malta’s national AI strategy was ranked 10th best among 54 countries by Tortoise Media. It was ranked based on several criteria, including talent, infrastructure, operating environment, research, development, governance, strategy and ownership; however, our strategy targets all areas of the Maltese Islands, which is essential for us, explained Mr Abela. “That is why the vision of the AI strategy is to have Malta as the ultimate AI launch pad – you will have the whole ecosystem which understands artificial intelligence, possibly using it, and its benefits are being adopted throughout the whole country rather than just the public sector, for example”, he said. The government has planned the following six pilot projects to adopt AI in their operations, targeting various areas

AI can be implemented across the Maltese Islands through these projects and educational opportunities and become a ubiquitous part of daily life. Thus, we are heading towards a future where AI can be included in public and private sectors, hoping that people will understand and accept its benefits once incorporated into their daily lives. >> DOWNLOAD The national AI strategy at: malta.ai/wp-content/uploads/2019/11/ Malta_The_Ultimate_AI_Launchpad_ vFinal.pdf

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PROM O

Digitisation – Embrace it or risk inevitable obsolescence

eborah’s credentials make her uniquely qualified to advise on business transformation. She played an exceptional role in transforming STM into a global pension provider”, and her vision and leadership have been recognised by awards that include ‘Most Innovative Entrepreneur,’ and “Most Influential Businesswoman in Finance” In this interview, she leverages her two decades of experience to provide sage advice for leaders considering the implementation of emerging technologies. She says many businesses are looking to fast-track digitisation to remedy operational inefficiencies, workforce disruption, revenue regression, and breakdowns in customer interaction. However, she cautions that the fundamental changes to traditional business models and hierarchical structures required to implement modern technology are frequently underestimated. “80% of 4000 global business leaders polled in the Dells Transformation Index stated that they were accelerating digital programmes. However, Forbes reports that an estimated 84% of digital transformation projects fail.” 44

Deborah Schembri, CEO of STM Malta Pension Services Limited and 2020 Businesswoman of the Year, sat down with Lea Hogg to share her insights regarding the benefits innovative technology can deliver and the steps SMEs need to take to de-risk their transition. Deborah advises that leaders must be clear about the desired outcomes and communicate their goals unambiguously to management for a project to succeed. In addition, Deborah stresses that roles expected results and the metrics used to measure success must be understood and accepted. She recommends priorities are reviewed and aligned with executives monthly and adjusted if agreed goals aren’t met. Emphasising that implementation teams must be agile in revising plans, reallocating resources and committing to meeting defined milestones. Finally, she underscores that the executive team’s primary allegiance must be to their colleagues if decisions are to be made in the best interest of the company rather than their own. All employees must understand the benefits of the project and how each department utilises the technology. She advocates that a structured training programme is essential to upskill employees, promote competency and ensure staff fulfil their roles efficiently with minimum supervision. Deborah asserts that leaders must be fully committed, understand the end goal, the total cost of implementation and

be prepared to resolve operational challenges. They should be prepared to invest in people and technology and to change their company culture. She explains that it’s generally accepted that successful tech-driven businesses overturned conventional thinking, creating value by fulfilling the unmet needs of their customers rather than extracting profit through internal efficiencies. Put simply, she says, the big digital winners just found better ways of delivering their product or service. Consequently, much of how we work, shop, bank, communicate and find enjoyment, a ride, or a room has changed. If the failure rate is so high but eschewing digital transformation invites obsolescence, how do businesses successfully adopt digital technologies? Deborah suggests it starts with leadership appointing a C-Suite sponsor as cultural change is needed to achieve a quantum shift in how business processes are integrated into functional operating models to deliver value to customers. She argues that upgrading current products and fine-tuning internal systems to be more efficient and profitable will not bring about transformation. Instead,

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leaders must forego hierarchical authority and empower those who innovate and create value by collaborating in agile teams that pursue a clearly defined set of objectives. To amplify her point, she cites Larry Fink, CEO of BlackRock, the world’s largest institutional investor who reproached Fortune 500 CEOs for underinvesting in innovation, essential capital expenditures, or skilled workforces. Deborah believes that as Malta performs above the EU average in all five dimensions of the 2020 Digital Economy and Society Index and has a wealth of highly skilled IT professionals, companies can de-risk implementing their digital strategy. She cautions, however, that leaders must be prudent in selecting the most appropriate technology for their business. The move to digital transactions is evident in every high street, and ‘pandemic lockdowns’ exponentially increased the adoption of online purchasing. With 93% of online experiences starting with an online search and almost 50% of users opening one of the top 3 results, companies must have an online presence with compelling content if they are to thrive. “Per Statista figures, 80% of the US population shop online and Digital Commerce 360 estimates online represented 20% of total retail sales in 2020, and that Amazon accounted for more than a third of all e-commerce in the United States.” In the financial services sector, where STM is a significant player, Blockchain, AI, IoT, and Virtual Reality have facilitated Fintech and a whole new sub-sector of financial-related solutions. She believes the appeal of the blockchain lies not only in the security and precision with which it can manage digital assets in real-time but also in the elevated level of trust in peer-to-peer transactions for consumers, customers, trade, and business partners without the need for intermediary monitoring it creates. In addition, finance processes can be controlled through distributed ledger

technology, i.e. a virtual scattered account book. In contrast to “centralised ledger” technologies, “distributed ledger” technology enables decentralised data management as a blockchain. Citing benefits to other sectors, she says digitisation has accelerated the automation of work formerly done by humans in manufacturing, increasing the process and transaction speeds crucial in differentiating companies from their competition. It has also provided the capability to reorganise supply chains maximising transaction transparency, allowing customers to trace a product’s origin throughout the entire supply chain from raw material procurement and production to distribution and sale. In addition, IoT and digital copies of machines facilitate the remote operation, diagnostics, and analysis of industrial production. This ‘Twin Technology’ has provided opportunities to redesign production and work processes, and by the integration of AI, to solve complex problems. She admits that blockchain may seem a bridge too far for some companies but warns that many large companies will inevitably require their contractors to convert some business interface processes to blockchain technologies. In addition, Blockchain’ Smart Contracts’ that enable the secure storage of information capable of an automatic and secure amendment will become commonplace, making blockchain / Multi-Party Systems vital for the survival of companies. Deborah suggests organisations start their digital journeys by transitioning core business functions such as finance, supply chain and HR, towards automated processes. She says businesses must be willing to embrace 4IR technologies and machine learning to identify and predict consumer behaviour, trends, and patterns if their business decisions are to be optimised.

leaders to be in denial that change is imperative and warns against complacency. In her view, leaders must constantly seek opportunities to combine people and technology solutions to improve their businesses and derive value for their stakeholders. >> About

Deborah has over twenty years of experience in insurance and pensions, gaming, caring, construction & property development, oil & fuel and hospitality industries. In her various C-level and board member roles, she had formulated new strategic directions and implemented the necessary changes, covering both local and international companies. Over the past eight years as the CEO and managing director of STM Malta, she has been instrumental in setting up and growing the company and placing STM Malta as the major pensions provider. She is a Certified Public Accountant, holds a Master’s in Business Administration from Henley Management College, and holds an Advanced Diploma in Retirement Provision pursued with the UK Pensions Management Institute. She is the only Maltese individual holding this qualification. She is a Fellow Member of the Malta Institute of Accountants, a Fellow Member of the Malta Institute of Taxation, and a Member of the Malta Institute of Management, Institute of Financial Services Practitioners, Institute of Directors UK and Associate Member of the Pension Management Institute UK. Deborah is the Chairperson of the Malta Association of Retirement Scheme Administrators. In addition, she sits on various committees within the Malta Chamber of Commerce and the Institute of Financial Services Practitioners.

To conclude, Deborah believes some 45

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IN TERNE T OF THI NGS

In the broadest sense, the term IoT encapsulates everything connected to the internet, and in an increasingly connected world, Malta is no exception; many more businesses will run in IoT. Isaac Sammut, senior manager at Tech.mt, reports on the latest landmark study and its adoption among Maltese businesses.

ndoubtedly, IoT has evolved from an emerging technology to one of the world’s most in-demand tech verticals over the last decade. IoT has been maturing over the past few years and seems poised for continued growth in Malta. This growth is expected to be driven by specific sectors such as transportation and logistics, telecommunications, and gaming. However, other retail, security, finance, and manufacturing sectors also respond positively to this increased growth. The 2021 landmark study commissioned by Tech.mt suggests that locally, advancements have already been made with more than half of the surveyed businesses adopting such technologies. With the expected growth of IoT demand, the emergence of artificial intelligence (AI), and the imminent rollout of fifth-generation (5G) wireless, the report’s subject matter is critical for change and innovation within the local business community. The report aims to shed light on how IoT paves the way for businesses to redefine how they manufacture or design products, optimise processes, and enable enhanced sales. At the same time, it increases awareness of its adoption among 46

Maltese businesses. Furthermore, as part of Tech.mt’s mission in forming Malta’s national objectives for adopting emerging technologies such as IoT, the report aims to provide further insight from local businesses on the diverse application of IoT across multiple sectors of the economy. More particularly, the report investigates sectoral relevance, willingness to invest, barriers or challenges, effectiveness on business operations, and insights into actual industrial applications. The report highlights multiple benefits to the deployment of IoT but also identifies critical roadblocks for IoT. For example, barriers related to lack of knowledge, costs, security issues, and uncertain returns on investment need to be addressed to capture the actual value of IoT. In addition, as highlighted in the report, approximately two-thirds of companies who do not use IoT said that they need more awareness and funding on such technologies. While there is anecdotal evidence that Malta has also enjoyed steady growth and industry adoption throughout the years, more work is needed to foster further industry adoption in this sphere.

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By addressing such issues and enticing more investment in IoT, Malta can continue to foster even greater growth, bolstering Malta’s economy and cementing the technology sector as one of the strongest pillars of the Maltese economy. Dana farrugia, ceo at tech.Mt

KEY FINDINGS

57% of the surveyed companies implement IoT

83%

of the surveyed companies who use IoT integrate it with other technologies such as data analytics, Ai and cloud

60%

21%

of the surveyed companies that use IoT experienced the benefits in less than a year

of the surveyed companies that do not use IoT are planning to deploy within 6 to 24 months

26% of the surveyed companies that use IoT deployed this technology in 2020

Snap the QR Code to view the full study.

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D I GI TA LI SATI ON

Transforming productivity through digital Since the late 1980s, the digital revolution has transformed the economy and society. First came the development of a connected economy, characterised by mass take-up of the Internet and the rollout of broadband networks. This was followed by developing a digital economy via the increasing use of digital platforms as business models for goods and services. The movement is towards a digitalised economy whose production and consumption models incorporate digital technologies in all economic, social, and environmental dimensions. JP Fabri continues.

he adoption and integration of advanced digital technologies (5G mobile networks, the Internet of Things (IoT), cloud computing, artificial intelligence, extensive data analysis, robotics, etc.) mean that we are moving from a hyper-connected world to one of digitalised economies and societies. It is a world in which the traditional economy, with its organisational, productive and governance systems, overlaps or merges with the digital economy. Its innovative features in terms of business models, production, business organisation and governance. This results in a new, digitally interwoven system in which models from both spheres interact, giving rise to more complex ecosystems that are currently undergoing organisational, institutional, and regulatory transformation. These dimensions of digital development are constantly evolving, in a synergistic process that affects activities at the level of society, the production apparatus and the State. This makes the digital transformation process highly dynamic and complex and thus challenging for public policies as it requires constant adaptation and a systemic approach to national development. Within this framework, 5G networks will make the convergence 48

of telecommunications and information technologies viable, changing the structure and dynamics of the sector. In contrast, the adoption of digital technologies and artificial intelligence (as general-purpose technologies) marks a new stage: the digitalised economy. At the societal level, digital disruption leads to changes in communication, interaction and consumption models reflected in greater demand for devices, software with more functionalities, cloud computing and data traffic services and the basic digital skills needed to use the associated technologies. In turn, the digital economy represents an opportunity for consumers to access information and knowledge of all kinds in various formats, goods and services, and more streamlined forms of remote consumption. Furthermore, the move towards the digital economy should mean that consumers’ needs can be met with smart products, often associated with advanced services that are highly customised. This means increased consumer welfare, a reconfiguration of the digital skills needed for more advanced digital consumption and the new labour requirements resulting from the new production models. At the same time, the new

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Although digitalisation can significantly contribute to the three dimensions of sustainable development, its net impact will depend on the extent to which it is adopted and on its system of governance. forms of consumption are associated with potential benefits from reduced material use and more sustainable environmental choices insofar as these are based on more and better information (about the environmental footprint of a product, for example) or reward more environmentally friendly practices. The development of the digital economy has radically changed the value proposition of goods and services via the reduction of transaction and intermediation costs and the exploitation of information from data generated and shared on digital platforms. These digitally-enabled models facilitate the generation and capture of data that can improve decisionmaking and optimise supply when processed and analysed with smart tools.

A similar process ought to occur in the public management models of State bodies to meet citizens’ demands and improve government action. Such institutions’ adoption of these technologies would increase the efficiency and effectiveness of providing health care, education, and transport services. It would also improve citizen participation in democratic processes, increase transparency in government operations and facilitate more sustainable practices. Smart city solutions are transformative because of their potential social, economic, and environmental impact.

This results in more streamlined operating processes, market segmentation and product customisation and transformation. In addition, data and digitalised knowledge become a strategic production factor. All this entails a need for regulatory changes in various areas ranging from telecommunications to trade, taking in competition and data protection and cybersecurity policies on the way. The digital transformation of the production sector is taking the form of new management, business and production models that facilitate innovation and introduce new markets and disrupt traditional industries. The expansion of the industrial Internet, smart systems, virtual value chains and artificial intelligence in production processes is speeding up innovation and generating productivity gains, positively affecting economic growth. In addition, all this is driving the transformation of traditional industries through automotive technology (autotech), agricultural technology (agritech) and financial technology (fintech), among others. Furthermore, smart production models can bring increased competitiveness with a smaller environmental footprint. Companies use digital tools to map and reduce their footprint to assess climate change and modify their production processes.

Despite all this potential, however, digital development that is not governed by principles of inclusiveness and sustainability can reinforce patterns of social exclusion and unsustainable exploitation and production practices. Thus, although digitalisation can significantly contribute to the three dimensions of sustainable development (growth, equality and sustainability), its net impact will depend on the extent to which it is adopted and on its system of governance. 49

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How FinTech an ecosystems are

reshaping finance Looking back to 2015, the word FinTech brought palpitations to many leaders within the financial services industry. This shiny new word represented nimble tech-driven businesses ready to take on the big giants – and quickly displace them. They had seen this happen with the entertainment and retail sectors, and the omens were out that financial services were next. Consumers and businesses were frustrated with the pace of innovation, while industry giants worried that their archaic systems and processes could mean that meaningful transformation was beyond what they could deliver anytime soon. Theo Dix explains. 50

ut fast-forward six years, and things have played out very differently within the financial services industry. The global giants are still around, and many are thriving, with FinTechs playing a pivotal role in enabling their products and service offerings rather than destroying them. So, what happened? In 2015, many FinTechs start-ups thought specific sectors such as banking were ripe for the picking and focused on consumer-driven offerings. However, what lots of them failed to realise was the consumers weren’t ready to

jump ship, with the average Joe being far more likely to trust their cash with a reputable bank led by a seasoned industry veteran than a young start-up, run by some ‘kids’ from a garage. Some of these new start-ups also underestimated what a colossal endeavour is to get licensed and build the proper governance and compliance structures. Regulators still trusted the incumbents despite the challenges that the 2008 financial crisis had brought about. Back then, not many were keen on creating the enabling regulatory environment we have today for FinTech to thrive.

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The resultant effect was that many new and old started to realise that they might be better off if they collaborated rather than compete. Pivoting to a business-tobusiness (B2B) model, many FinTechs are now the technology providers underpinning the bank’s services or the products they provide to their customers. The focus is generally on a small part of the value chain, which they look to enhance. Taking banking, for example, foreign exchange, cross-border payments, wealth management offerings, personal financial management apps, working capital and trade finance solutions are a few areas where we have seen a fair amount of traction. That is not to say that some new players did not plough ahead and compete for head-on against the incumbents. For example, look at the local payments landscape, where neo-bank Revolut has become the de-facto payment method for Malta’s younger generation. Some of their parents are looking to pay for low-value goods and transfer money between friends and family. However, many customers opt to maintain accounts and relationships with both and use them for different services rather than replacing our local banks. The exciting thing is that, like the traditional financial

services giants, Revolut also enhances its operations and services by incorporating third party B2B FinTech services. Ecosystems and partnerships are seen as the only way to succeed in today’s market, according to two-thirds (68%) of corporate business leaders surveyed in EY’s recent research, Tech Horizon: Leadership perspectives on technology and transformation, in which we surveyed 500 corporations and 70 start-ups across a range of global geographies and sectors. A “do it ourselves” culture has prevailed in business for many decades, and working with another party – even a competitor – to solve the issue would be very rare indeed. But in the digital world, companies must break free of this mindset and become more collaborative and open to partnerships, rapidly disassembling and re-assembling value chains. This is because, as we have touched upon, no single company can be an expert in all areas of digital technology. As financial institutions acknowledge the inevitable shift towards ecosystems, they will have to determine exactly how to participate and redefine business and operating models to suit. They must choose their strategy wisely, based

upon their strengths, decisions around customer ownership, focus within the value chain and revenue generation model.

as sector lines blur, the potential for financial institutions to become core to the future digital marketplace, and their customers’ lives, is almost limitless. They also need deep analysis around partner fit, capabilities and onboarding that cuts through all the marketing hype based on actual FinTech industry knowledge. If ecosystems were strictly industryspecific, their value to financial services companies would not be fully maximised. But, as sector lines blur, the potential for financial institutions to become core to the future digital marketplace, and their customers’ lives, is almost limitless. For those financial institutions that are yet to set their ecosystem strategy, the time to do so is now. 51

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RACI NG

RACING TO SUCCESS Dayna Camilleri Clarke met up with the University of Malta Racing. This Formula Student team aims to design and build a Formula-style race car and compete within a stipulated set of rules against other universities worldwide. 52

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The new design weighs 200kg, making it 20% lighter than previous projects, and uses a high-strength steel frame with carbon fibre body panels. Since the team’s formation in 2012, the team has competed with four different designs in Italy and the UK. Over the years, it has attracted students’ attention from various backgrounds, including engineering, business, financing, media, and marketing, making the team a well-rounded organisation with a robust skillset. How was it formed? The idea came through from a small group of engineering and business students with a passion for motorsports. With the limitations Malta has, an opportunity for students to compete internationally was quite intriguing. With the long-term goals proposed, the team was provided with the engineering faculty’s tools and workspace to design and build its first car. The latest design Every vehicle has its target design with which each department works handin-hand to achieve it. These goals are critically analysed and discussed concerning previous design choices, such that possible areas of improvement are tackled with each iteration. For its latest design, the team agreed on a feasible target mass intending to improve the vehicle’s dynamic performance by shedding considerable weight with different components within the design. The new design weighs 200kg, making

it 20% lighter than previous projects, and uses a high-strength steel frame with carbon fibre body panels. All the structural steel and composite bodywork are manufactured in-house using processes that have been adopted and further improved with every design. The new car is paired with a lightweight, twocylinder internal combustion engine that delivers linear and instantaneous power. These characteristics are very desirable for the short, tight, and technical courses set during the Formula Student competitions. Even though every Formula Student team uses the same rules to build their designs, no two cars are the same.

has primarily focused on designing, simulating, and eventual building and creating an internal combustion engine vehicle that abides with the Formula Student regulations and technical requirements. This year, however, they have deemed interest in making an electric vehicle, which would allow us to participate in the Formula Student Electric competitions in the future. To accomplish such a task is by no means easy, and hence, a Research and Development team has been created to sustain the need for understanding what goes into the making of such an electric vehicle.

The team has shown a steady improvement in competitiveness, and the latest results show that the team is heading in the right direction with its latest design. In addition, a significantly positive aspect of working in the group is the amount of knowledge and skill transfer available through team alumni and current members, who continuously work to push boundaries and implement innovative solutions.

UoMR-e is currently focused on addressing the issue of what vehicle components, such as battery power units and electric motors, accompanied by other necessary equipment, are required to design and hence develop an FSAE regulated electric vehicle. This mainly entails researching what other FSAE teams are using to build their cars, understanding the technical requirements, and abiding by the more stringent set of regulations imposed upon the hosting organisation.

With the ever-growing push towards a sustainable future, the team has already commenced researching and developing an all-new electric design to compete within the coming years, making it the first-ever Maltese built electric race car. Going electric The University of Malta Racing team

Who can join the team? Any university students who have a passion for motorsports or are willing to apply what they learn are welcome; the team allows every member to grow and pursue careers within motorsport and other similar fast-paced industries. 53

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NF Ts

Are NFTs disrupting traditional business models? Non-Fungible Tokens (NFTs) are somewhat of a buzzword in today’s world, as the emerging concept has been attracting attention from all around the globe. It is no coincidence that recently, Mark Zuckerberg, the founder of Facebook, announced a change in the social media platform’s name to ‘Meta’, signalling another shift in the digital world. NFTs could well become an integral part of the digital world is exciting. Jake Aquilina explains.

FTs provide a new medium for digital artists to share their work and receive payment for it. Given the shift from painting on canvas to one’s tablet or drawing pad, there does seem to be an argument to be made by digital artists to earn what they work for. However, the shift has been morphing into more areas and fields beyond the argument of just paying for digital artists. The market cap of NFTs has been seeing a significant surge year on year, while the total cryptocurrency market cap has been valued at over $2.5 trillion. Although specific NFT projects are seen as a bubble waiting to burst, many other projects seem to have a longer-term future.

Innovation can be described as a new solution using a creative idea. This can be through the application of existing technology in new ways, industries and paradigms,” he said. “For example, NFT technology has been with us for years now, but it is suddenly gaining traction in video games. We are sure that there are many more such use cases that are yet to be explored,” he said.

One such person who believes this is Luca Arrigo, a Maltese who delved into NFTs has been serving big-name DJs and artists hosting virtual events and art galleries in Decentraland. He is also the founder of Decentraland Architects and is involved in the project TMC Games. Arrigo said that to analyse how the traditional business model is changing, one must understand innovation.

Indeed, if one looks at the gaming world and its relation to cryptocurrency and NFTs, the business model has seen a significant – and literal opposite – shift. Games used to be Pay to Play (P2P), while some were Free to Play (F2P). Now, the cryptocurrency and NFT era has allowed a new mode to be introduced: Play to Earn (P2E). The latter notion allows players to potentially earn cryptocurrency for playing games, completely altering the business model as we have known it for the past few years. Projects such as Axie Infinity attest to this new mode of playing, a game that has seen its market cap almost skyrocketing to $10 billion in October 2021.

“In the metaverse, we can create all kinds of innovative business models.

Arrigo also noted that the traditional way of defining a business is morphing due

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to a heightened digital shift the world is moving towards; innovation is simply switching from the physical to the virtual space. “Even though innovation is a big fancy action and difficult to achieve, it can also be simple, quick and elegant. By looking at blockchain in new industries such as gaming, we can easily get people with skills to innovate. For example, many architects who are blockchain savvy are now designing virtual spaces for events, galleries and festivals on the metaverse,” he noted. Furthermore, he attested that the shift is already up and running, and the move towards cryptocurrencies will also enable this shift only to get stronger. “In short, we are already in the metaverse. The use of blockchain as the infrastructure for the ownership of digital assets is the only ethical way for us to create and manage a real metaverse that we aspire for,” Although NFTs are still at their conception, many tout them to be one of the following steps for businesses to adapt to. With the virtual space morphing more rapidly than before, it might be high time businesses started to embrace NFTs and how they work, such as Visa did with its bold move when it bought a CryptoPunk NFT for $150,000 in Ethereum (ETH)*. “In the long term, we believe that decentralised systems will win market share. So, the future is Decentralised Apps (Dapps),” Arrigo said. Another Maltese who dipped his hands into NFTs is Zack Ritchie, an illustrator whose cartoonish artwork attracted sales as NFTs. Ritchie believes that NFTs have made it possible to bring “scarcity and proof of ownership” to the digital landscape. “Now digital files, art, formats are digital assets, depending on the perceived value the creator brings.” The illustrator also compared this period to the creation of the internet and the dot-com era. “Fast forward to today, and every business has a website/ eCommerce. NFTs have a lot of potential, but at the moment, they still have to be developed.”

Zack Ritchie

What Are Non-Fungible Tokens (NFTs)? Luca Arrigo

Ritchie also mentioned certain success stories in the NFT space, such as Gary Vee’s using NFTs as admission tickets to his VeeCon event. He also gives exclusive benefits to holders via free Pre-Launch Program (PLP) airdrops. “Bored APE Yacht Club is another successful pioneer in the NFT space, where APEs are social statues due to the popularity and demand for these limited APEs. Primarily they serve as a badge to show you are part of a community, offering members exclusive benefits, events, and meetups,” he said. Regarding their future, he said that he has “no doubt” that NFTs “are here to stay”. “I’ve only been in space since January, and things are developing very fast. NFTs are now attracting the music industry, the gaming sector and large businesses such as Nike and Facebook, which has now rebranded to Meta,” he said. “It’s hard to say where things will go, I imagine the digital world becoming more virtual as the above industries are explored. It might come to a point where our lives will be crossed between the metaverse and real-life, just like social media and tech are a part of our lives,” he concluded. *www.bloomberg.com/news/ articles/2021-08-23/cryptopunknft-prices-visa-buys-digitalavatar-7610-for-150-000-in-eth

Non-fungible tokens aren’t actual cryptocurrencies in the same sense as Bitcoin. Cryptocurrencies utilise blockchain to track financial transactions between parties and were designed as a digital currency for use on the internet and in a digital-first world. NFTs are also built on a blockchain but instead are used to guarantee ownership of an asset. Think of it as a certificate like an auto or real estate title stating the legal owner of a car or home, except that an NFT is proof of ownership in digital form. Most NFTs are based on Ethereum. An NFT is a unique asset that is not directly replaceable with another asset (thus the name “non-fungible”). A fungible token, by contrast, is replaceable with another one identical to it. For example, Ether is the fungible token that trades on the Ethereum network, meaning one Ether is identical. The same goes for Bitcoin. One Bitcoin can be exchanged for another Bitcoin because they have the same value. Physical currencies work this way, too. For example, a one-dollar bill is the same as another dollar bill. But each NFT is unique; there isn’t another one exactly like it out there. Digital code is written into this digital token and recorded using the blockchain network it’s based on (again, usually on Ethereum) to prove a list of historical ownership and the current owner of a unique digital asset. An NFT can represent any digital creation: music, videos, writing, etc. 55

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START-UP

It’s a few years that Malta is progressively making efforts to attract new businesses and start-ups. For example, one of the latest initiatives is the introduction of a start-up visa, included in Budget 2022. To better understand the real opportunities that the island has to offer and to explore the local scene, Federica Tadiello spoke to Adrian Galea, a passionate and savvy manager who knows the local start-up ecosystem very well and who critically thinks that Malta has still a lot to do to attract talents and gain a privileged position in the European landscape. However, the good news is that it looks like there is a vibrant community of entrepreneurs with compelling stories to tell. 56

The Malta start-up scene: uncertain outcome, a worthy investment

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Start-ups require great founders above all else, and if taken seriously, they can change the world we live in for the better. It’s a few years that Malta is progressively making efforts to attract new businesses and start-ups. For example, one of the latest initiatives is the introduction of a start-up visa, included in Budget 2022. To better understand the real opportunities that the island has to offer and to explore the local scene, Federica Tadiello spoke to Adrian Galea, a passionate and savvy manager who knows the local start-up ecosystem very well and who critically thinks that Malta has still a lot to do to attract talents and gain a privileged position in the European landscape. However, the good news is that it looks like there is a vibrant community of entrepreneurs with compelling stories to tell. Would you please introduce yourself and what you do? I am the administrator and moderator of Malta Startup Space, a Facebook group that keeps its members updated about events and transactions concerning Malta connected start-ups and entrepreneurs. The group and page have a simple mission, that is, to showcase the Malta start-up ecosystem. Every quarter, I issue a newsletter with the most noteworthy transactions linked with the Malta startup ecosystem. I have been pleasantly surprised that it is relatively easy to find good stories to tell. Further to this, I earn my living as a portfolio and finance manager for

venture capital funds and high net worth individuals who seek to build and manage portfolios of early-stage startups. In particular, I am part of the team of BITKRAFT Ventures, a US-based venture capital firm with $500 million assets under management for digital games, esports, crypto games and interactive media. Can you give us a general overview of the Maltese start-up scene? How does Malta position itself in the European landscape? I usually refer to the Malta start-up scene as one that is “non-systemic”. I mean that there are no best practices or norms in place for a start-up to go from idea stage to MVP, to incorporation, to finding investors and scaling. Critically, I think we lack people in ecosystem support organisations who have hands-on experience in scaling large international start-ups. The tricky question is how do we attract such talent to choose Malta as a location to build their initiatives when Malta has little to no success stories to reference. There are promising initiatives in place. For example, TakeOff at the University of Malta has a well-organised setup with experienced operators. StartInMalta, operated by Malta Enterprise, handles government-led support schemes. In addition, there are privately led initiatives

like Business Angels Malta (BAM) Pitchora that are a first attempt to match private businesses with start-ups. We do have a few success stories, Hotjar and Altaro being the easiest to reference. With a strong Malta connection, these start-ups boast international relevance so that success can be achieved with the right skillset and mix of talent. However, I attribute their success to the merit of the founders and the individuals involved rather than the ecosystem from which they emerged. Overall, I think Malta’s appeal remains intrinsically linked to it being an island for sun, fun and heritage, English speaking and in the crossroads of the EU and the MENA region. Talking about the entrepreneurship and talents on the island, what do you think are the most exciting start-ups to keep an eye on? The next generation seems to be led by Weaver, a fintech start-up, eCabs, a transport and mobility start-up, and EBO, an AI start-up. Other compelling startups have received support from Malta Enterprise in regulatory, AI, gaming and cannabis sectors, but I know too little about these companies for the moment. I am also sure several fintech start-ups have applied for MFSA licensing and keep Malta as their HQ, but there is little to no 57

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information about them. However, as I mentioned earlier, the good thing is that new stories emerge with each passing calendar quarter. In Malta Startup Space, we also like to celebrate Malta connected initiatives, such as Peak, a Berlin-based blockchain initiative led by a Maltese founder, Flash, an offshore energy initiative in the Netherlands and Smart Assets, a $1 billion valued fintech based in the US founded by a Maltese national. It is critical to count these as community members as the amount of knowledge, contacts and experience they can give back to the next generation is immeasurable. Furthermore, I keep in contact with Maltese technical professionals who are early employees at start-ups doing great things across Europe and in Dubai and the US. What are the opportunities for those who are trying to set up their start-up in Malta? What does the island have to offer in this sense? And what is your opinion about them? Unfortunately, I don’t have a comforting answer here. I relocated to Madrid

because the opportunity to advance my career in start-ups and venture capital was more promising if I moved to one of the leading innovation hubs in Europe. To give an example as to why I recently attended a conference in Berlin. During my return flight, I happened to be seated next to a lawyer who focuses on venture capital and, in front of us, eavesdropping on our conversation, a start-up founder. We spent the entirety of the flight discussing the fundraising landscape in Europe. Those encounters do not happen in Malta.

and tech talent to Malta, who over time will build relationships with other Maltabased founders from which promising start-ups will emerge. I recommend that people interested in this space attend the meetups organised on the island around digital nomads. Finally, the more promising start-ups that pitch to me are high-ranking executives from successful international businesses located in Malta. The sectors are usually fintech, iGaming, marketing and tech, wherein these emerging founders would have witnessed first-hand how the companies they were employed at grew to international relevance. Thus, they spot an opportunity to build their start-up and use their connections over time to make in-roads. I nicknamed these “2nd Generation” founders, and these individuals, I believe, hold the best promise for future success connected to Malta.

A solution is to engineer those situations with strategic events. For example, I am part of the Silicon Valletta community, which organises casual get-togethers for tech entrepreneurs in Malta. Also, back in the day, Malta held an annual start-up event called Zest. It was a celebration of start-ups and innovation, and I thoroughly enjoyed each edition. Its successor became the Malta Blockchain Summit which was very business and regulation focussed and not for me. Hopefully, pandemic permitting, we can bring back high-quality start-up focussed events. Malta Startup Space’s goal is to keep the community connected between meetups and events. It’s basically your daily dose of start-up friendliness.

Do you think that Malta can become, in some years, a start-up-friendly place such as Berlin or Estonia? Potential and hope are the last to die, so yes! And given Malta’s dependence on tourism, financial services (now greylisted) and real estate, tech entrepreneurship is an apparent nominee for a future building block for a much-needed diversification of Malta’s economy.

Another promising novelty I follow closely is the digital nomad trend. Malta’s initiative here is the Nomad Residency Scheme. I hope this will attract digital

VC funds raised by GP region and LP type, 2014-2018

100

forbes.com/sites/haduong/2020/07/30/structural-problems-in-the-european-venture-capital-lp-landscape-and-why-it-matters/?sh=22d04ea067d4

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In general, I’d like to know what motivates you in your job and why you decided to work with start-ups? Why are you so passionate about them?

news.crunchbase.com/news/european-vc-report-2020-strong-fourth-quarter-closes-out-2020/

The European start-up ecosystem, with few exceptions, is government-centric and dependent. Venture capital funds across Europe have EU and government bodies as their anchor investor, and many start-ups are competing for EU institution-led government grants and schemes. Europe is far from the American capitalist model, with less than 15% of the global share of VC coming from Europe. Some say this may be a good thing because although fewer start-ups emerge, the ones that do, tend to be more capital efficient and have more robust unit economics. Still, the spirit of true “venture” is grossly diminished when it comes to the funding landscape in Europe. Malta seems to mimic the same lethargic symptoms that the rest of Europe suffers from. What Maltese founders sorely lack is a sense of competitiveness at an international scale. Many of the proposals I review copy innovative ideas witnessed overseas not yet present in Malta. Whereas this may make for a good lifestyle business, it does not have the hallmarks of an international disruptor.

applicants. This will create a sense of competition instead of the sense of entitlement some local start-ups seem to demonstrate. Recently, it has been announced that the American TV show “Shark Tank” will have its Maltese version. What are your thoughts about it? Unfortunately, I have a boring answer to this. I do not know enough about this news story, I have not met with anyone involved, and I do not want to indulge in speculation. However, I wish the producers, whoever they may be, good luck and “break a leg”, as they say in showbiz, and I hope the investor panel will be smart, witty, and entertaining to put on a good show.

Eight years ago, I left my job at a corporate firm with a career path in place to join a start-up in Hamrun in a shared corner office. In my first week on the job, I travelled to Switzerland to attend an event held at a global top-ranking university organised by the start-up I had just joined. I met business leaders, university professors and start-up founders that day. Three pitches took place, one was by a female founder dressed in an exoskeleton suit, the other was for a drone that could bounce off the walls of the lecture room at full speed and keep operating as though nothing happened, and the third was by a university professor who pitched lightbased sensors for autonomous vehicles because two years earlier a family member perished in a traffic accident. Great start-ups are being built by founders with a career of excellence behind them in engineering, healthcare, scientific research, finance or tech. The system in which they previously operated is restrictive for true innovation, so they break the status quo and forge a path for themselves. Start-ups require great founders above all else, and if taken seriously, they can change the world we live in for the better. That’s the opportunity that inspires me every day.

What I will say is that I have invested in building a successful career for myself in start-ups and venture capital, and I hope my journey will inspire others to follow suit, whether as professionals in the field or as entrepreneurs. Likewise, Malta Startup Space showcases success stories as they emerge, reinforcing that start-ups can be a compelling and exciting career path.

A suggestion here is that Malta Enterprise grants could be awarded on a semiannual basis to the top 10% ranked 59

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UNLOCKING D I G I T A L VA L U E FOR SOCIETY Celebrating 20 years of the Malta Communications Authority

This year, the Malta Communications Authority (MCA) celebrates its 20th anniversary - reaching such a milestone deserves reflection on the past, a celebration of the present, and preparation for the future. To commemorate this anniversary, a hybrid day conference was held on the 25th of November, with the purpose to initiate discussions on the vision for the MCA going forward with the engagement from both local and international experts.

Director General of DG CONNECT, Roberto Viola

MCA CEO, Jesmond Bugeja

From left: Joseph Seychell, Riccardo Genghini, Calvin Briffa, Lucrecia Dufoo, Ian Gauci

Historical context Some three decades ago, technological innovation and progress began attracting private investment, leading to the end of an era for typically governmentcontrolled communications services. Globally, National Regulatory Authorities (NRAs) began to be established as independent regulators to cultivate a fair and competitive communications market for the benefit of citizens. In January 2001 and in preparation for the evolution from a monopolised telecommunications sector into a fully liberalised one, the Malta Communications Authority was set up as the statutory body responsible for the regulation of the electronic communications sector – including fixed and mobile telephony, Internet and TV distribution services – as well as the postal services, and more recently the eCommerce sector. Full liberalisation of the telecommunications market came in 2003, and from then till now, Malta has met and even surpassed many other European countries in services being offered to consumers. Moreover, over the past 20 years, the MCA has built a solid reputation as a fair and expert independent communications regulator. This trust in the Authority’s work is considered an instrumental factor in attracting foreign investment in Malta’s technology sector, and more particularly, the telecommunications sector from all corners of the world, including the UAE, the US and the UK, resulting in the thriving competitive market we see today. A vision towards the future MCA’s CEO Jesmond Bugeja opened the conference with a strong message towards the future, stating that “20 years full of challenges transformed into opportunities have nurtured investment and placed Malta as one of the leaders in connectivity in Europe. A journey marked by so many developments and accomplishments for the sector, the country, and the MCA and which promises to become even more exciting with the

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From left, Rainer Schnepfleitner, Andrea Stazi, Antoine Scibberas, Fabiana di Porto

advent of transformative technologies such as 5G that are poised to unlock a new world of connected opportunity.” A video message from the Chair of the Body of European Regulators for Electronic Communications (BEREC) praised the active role Malta plays in BEREC, saying that the MCA may be considered as a small regulator but, “the MCA is definitely punching above its weight in terms of influence within BEREC.” He thanked MCA CEO Jesmond Bugeja for his work as Vice-Chair during 2021 and added this was significant in marking the first time the MCA formed part of BEREC’s esteemed leadership team. The morning panel discussions centred on the decade ahead, evaluating digital opportunities and challenges. On the opportunities front, the panels explored what actions are to be taken to encourage investment in technological innovation and deliver real value to citizens. Direct reference was made to Europe’s plan to achieve the digital transformation of society and economy by 2030 through best practice cooperation initiatives centred on 5G and connectivity initiatives across Europe. With regards to challenges, the panels agreed that protecting both the economy and society are of top priority for the EU, and initiatives such as the Digital Services Act – planned for adoption in 2022 – and aimed at safeguarding society against online harms, will seek to address

several concerns to create a safer digital space for all EU citizens while fostering innovation, growth, and competitiveness within a harmonised single market. This is a particularly relevant topic for the MCA as it takes on new responsibilities such as its recent designation as Digital Services Coordinator for the EU’s Digital Services Act (DSA), advancing MCA’s journey in the field of digital regulation. In commemoration of 20 years of operations, the MCA produced a set of postage stamps presented to the CEO Jesmond Bugeja by MaltaPost CEO Joseph Gafa. An announcement will be published on the MCA website with details for those interested in acquiring a set of unique numbered folders and postal stamps. Present opportunities and challenges The conference resumed with an afternoon session focused on contemporary issues related to digital services, as regulated by the MCA. Finally, a presentation was delivered on MCA’s strategic vision for local eCommerce in the upcoming years, addressing the most pertinent questions identified through survey results and trends. This was followed by a panel discussion of speakers from different business environments on adding value for society through digital services, further examining the present opportunities and challenges being dealt with in everyday scenarios. The panel agreed that we are witnessing a shift in consumer expectations, increasing

complexity in systems and above all, with the application of new regulations, it is more important than ever that the MCA as regulator keeps listening and communicating to continue to support business organisations towards digitalisation. A detailed presentation preceded the final panel of the day on the technical aspects of developing websites to meet the requirements of the Web Accessibility Directive, which the MCA also implements and enforces locally. The panel was composed of contributors from relevant establishments, bodies and entities and moderated by Dr Marica Gatt from the San Miguel Primary Resource Centre. The discussion centred around the current needs of people with disabilities and addressed how COVID-19 has affected these people, especially in the digital realm. Concluding message Mr Roberto Viola, the Director-General of DG Connect at the European Commission, joined the conference through a live video link to deliver the day’s closing message. He thanked the MCA on behalf of the European Commission for the great work it did in the past 20 years, adding that the MCA “should be proud that Malta has in the recent years, moved into the 6th place in Europe in terms of performance of digitalisation.” The full-day proceedings were translated into sign language by Aġenzija Sapport, and the recording is available on the video, which you can find on the MCA’s YouTube channel. 61

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Shining a spotlight on SilentSave This year’s winners of the Start-Up of the Year Award at the Junior Achievement Young Enterprise (JAYE) national finals were FEMA students Michela Pace, Martina Cilia La Corte, Luca Falzon, Lara Sciberras and Emily Sciberras with their start-up SilentSave.

he team completed an impressive winning streak that included the Chamber of Commerce Membership Award, the PwC Concept Validation Award, Tech.mt Digital Innovation Award, the Switch Take Me To Market Award and the Public Vote Award. But what is SilentSave, and how did it amass such excellent acclamation? Dayna Camilleri Clarke caught up with Michela Pace in a bid to find out more. “SilentSave was set up as a requirement for our Bachelor of Commerce degree at the University of Malta. The JAYE Start-up of the Year programme was a study unit within the Management elective, and we formed the group in October 2020,” begins Pace. “At first, we did not know each other very well, but as we started the workshops for the programme, we realised we all had one thing in common, an entrepreneurial drive and a passion for innovation. SilentSave was, eventually, the result of multiple brainstorming sessions until we finally agreed on a product

designed to create a feeling of safety. We could all relate to it, and we felt other people would relate to it too. From then onwards, we met almost every day virtually to refine our product idea and business plan. It was not just a study unit for us. It was a personal challenge that we were ready to excel in”. The concept is indeed a brilliant and lifesaving idea. “SilentSave is essentially a technological device which could be used in times of distress. This gadget could potentially save lives and prevent any unforeseen accidents. SilentSave created the SS Bracelet in greater detail, consisting of textured beads, a GPS tracker, chargeable batteries, LED lights, and other tech components. It should be explained that SilentSave was created based upon the observed mishaps and events shown on social platforms and news media,” Pace explains. But the road hasn’t always been easy for the team. Pace describes the challenges

the team met along the way “The fact that SilentSave was created and built during the global pandemic was a challenge in itself. Notwithstanding, meeting the team physically was difficult to navigate given the different schedules and commitments. Also, all five members majored in Marketing and Management, which left the engineering and accounting side of things challenging to compute. Contacting overseas suppliers and manufacturers was also hard for the team to face. However, we think that we accomplished something ambitious and greater than ourselves”. About the many awards for the idea, Pace describes the teams’ ambition “From the beginning of the competition; our group set out to win the whole thing. That was ultimately our main aim. However, through brainstorming and developing the idea, we realised that most of the projects put forward by other groups would probably be apps for the tech area. And therefore, we set out to distinguish ourselves in creating a product concept that incorporates more hardware technology. This helped

SilentSave stand out against the competition. Furthermore, SilentSave’s primary aim to help individuals and the community through technological innovation also made the concept unique. It goes without saying, following diverse market research, we recognised a need for our product. The central pointer which extracted was that consumers value the need for safety in their life. Additionally, it was evident that people were attracted to the SilentSave idea because it makes them feel safe anytime and anywhere they are.” What’s next for the young start-up enthusiasts? “The feedback we received during our entire journey was impeccable. Throughout, this journey we have found a lot of people and entities backing us. Additionally, we received great support from thrilled clients and were very willing to purchase the SS Bracelet. In a nutshell, all of us are currently focusing on our studies and academic future as individuals, and SilentSave may be developed further in the near future.”

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The road to APP-iness Dayna Camilleri Clarke speaks to Benjamin Abela, founder of Few, the popular holistic fitness app created to help improve physical, emotional, spiritual, and mental wellbeing Benjamin, tell us where did the Few journey begin? I launched Few for two main reasons. First, growing up, I witnessed my mother, a reiki master, struggle with the confidence and means to promote herself and her skills. Second, a few years ago, after a friend of mine came back from India as a certified yoga instructor, conversations led me to understand that she didn’t have the tools or knowhow to get a business going. I realised that practitioners in the health and wellbeing space would benefit from a platform that elevated these individuals by handling the

marketing branding, business automation, and payment side of running a business. After a successful proof of concept in the summer of 2019, Following a successful proof of concept in the summer of 2019, I realised there was a demand for a product like Few. What’s been the most challenging part of this process? Dealing with cash flow. As a start-up or any business, you need money for marketing, payroll, and survival. It’s been a continuous battle. As soon as you take your eye off cash flow, it becomes a problem again. An additional challenge has been managing everything from operations, finance, funding, business development, marketing, product development, and new users with a lean team. What’s been your favourite part of this journey? It has been incredible to witness the growth of the business, seeing something that was a sketch in the summer of 2019 come to life. We ran our first Few Originals session a few weeks ago, and being able to feel the value

we’re giving to people through something we’ve created, it’s an unbelievable feeling. What has it been like founding and leading a start-up in Malta? Honestly, it’s been tough. Malta is not set up for start-ups. I know they’re trying to change this, but the amount of bureaucracy, the cost of services and the lack of substantial start-up community benefits, means that I’m aware of more start-ups that have come and gone to other countries than stayed put. So, there’s a lot of potential, but it still needs a lot of work. How has the Covid-19 pandemic impacted your plans for Few? We were built during the pandemic, and we managed to navigate around it. We’re giving our practitioners the tools to be able to work in person or online. As we’re a digital platform, we’ve been able to adapt pretty quickly, making us pandemic proof. We have online sessions such as free meditation sessions, yoga sessions, painting sessions, standard workouts (HIIT), and Zumba, which can all take place whether there are lockdowns or not. Another benefit of this is that practitioners don’t just have to focus on the local market, but international. Why should people use Few? People should use Few as a tool that helps them work on their three pillars of health, the spiritual, mental and physical, and

to gain knowledge about their wellbeing. We’re trying to make everyone aware of the importance of stopping, slowing down, looking after themselves, and understanding how balanced they are and what they can do to balance themselves. We hope to give them this awareness through data we can collect from wearables. What is next on the horizon for Few? We’re building a loyalty and rewards scheme, and we also want to explore how we can build a community around a physical space. Essentially, a Few hive. This will be a community space where people can get veganfriendly food and drinks, join community events and on-demand sessions, all via the app. In addition, they will be able to use credit won through the rewards platforms when completing challenges, reading content, and sharing information. We want to make well being accessible to everyone, not just the privileged. 63

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Churning the wheels of innovation The idea of setting up your own company appears more and more appealing to many people across the globe. However, the process of creating a product or bringing an idea to life can be both challenging and exciting. At the same time, Dayna Camilleri Clarke caught up with two entrepreneurs, Paul Waltzing and Doran Magri Demajo, to discuss their start-up journey within the context of Malta. Could you kindly tell us more about what Bibe is?

Paul Waltzing Founder, Bibe

Can you tell us a bit about you and when the Bibe journey began? As a company, Bibe was set up in 2018, but work on developing the prototype started the year before. On paper, I am probably the opposite of what you would expect for someone bringing a hardware product to life. For example, I am not an engineer, I didn’t get any funding to start-up, and I never had a start-up before) but what I do have is motivation and drive. I have taken a concept with a few helping hands, brought it to life, and am ready to launch it. Credentials? I do whatever it takes. 64

Bibe is a multi-purpose portable cooling system designed for bicycles. The system replaces the traditional bicycle bottle cage with one that can transport bottles or containers inside and convert the equipment into a portable refrigeration system through thermoelectric cooling.

it easy to stay on top as there are copious amounts of online resources and many social media groups and influencers to follow. In addition, there are many forums, events, and other resources, even from a consumer electronics or pure technology standpoint. But the short answer is I subscribe to a lot of worthy newsletters.

What challenges have you found locally along the way?

Why do you think people are attracted to your services?

Well, for someone in the hardware space, there are some obvious challenges because of the size of the local market. Although, if I had to sum it up, I would say from my personal experience what I’ve encountered the most is a lack of a ‘can-do attitude’.

We offer an innovative product that rings well with our target audience, who are up to date and always keen to learn about the latest cycling accessories. Additionally, our product aligns with our vision to make cycling a more enjoyable experience for all users. We are trying to do what we can to get more people out of cars, make them more active, help with the environment whilst having a little fun along the way.

How do you stay on top of the latest trends? Luckily, the ubiquity of cycling as a sport and industry makes

How have you adapted to the COVID-19 pandemic scenario? We were going to launch last year, but with COVID-19, we sort of dodged a bullet as manufacturing and shipping from Asia would have faced enormous challenges. Subsequently, having everything at a standstill, we took that as an opportunity to re-evaluate and see what we could improve. This allowed us to create additional product development, change our strategic approach, and solidify our marketing efforts. What feedback have you been getting, and what’s next on the horizon for you? So far, feedback has been very positive with a lot of encouragement, especially those who had joined us on this journey from the beginning when we were still doodling on napkins. While product optimization never truly stops, our next steps involve mostly marketing related to building leads. When we officially launch our crowdfunding campaign next year, we have enough of a following to create a snowball effect and hopefully reach our goal. Then after that, it’s world domination!

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Therese Pace & Doran Magri Demajio

Doran Magri Demajo Co-founder, Whimsy Castle Can you tell us a bit about you and when the Whimsy Castle journey began? Whimsy Castle is an online store set up by Therese and myself (Doran) in June 2021 after an intense three months of brainstorming, late nights, and a billion WhatsApp messages and emails between us. Therese is a mum of a 2-year old girl and a 5-year old boy, and I am a mum of a 3-year old boy. After having kids, our shared passion for fashion and style was substituted (fortunately or unfortunately!) with a passion for furnishings and interiors for children. The idea to set up our online store came about when sourcing products for our kids. Could you kindly tell us more about what Whimsy Castle is? Whimsy Castle provides products for kids which are fun, unique and attractive to contemporary families in Malta. Our product portfolio includes beds, furnishings and interiors, select toys, school essentials, tableware and seasonal apparel. We

are particularly drawn to Scandinavian high-quality designs, which, at least in our view, tend to stand out compared to competing products not only as they are aesthetically pleasing but also as they typically combine unique design, class, functionality and, most importantly, are sustainably produced. What challenges have you found locally along the way? In our experience, many people are locally still cautious of purchasing items online, and one question we are asked on various occasions is whether we have a physical shop. Initially, this came as a surprise to us since 90% of our purchases are made online, and we were under the impression that most people were the same, especially when going through the COVID-19 pandemic. However, we are confident that people’s approach will continue to shift as more goods/services are offered exclusively online. From our end, we are highly flexible, and if the customer is for any reason not happy with the product, we either exchange the item or offer a complete

refund corresponding to the purchase price. How do you stay on top of the latest trends? We spend a significant amount of time on social media every day. Aside from advertising our products, we are always on the lookout for other brands that we think will fit our current brand portfolio well and be attractive in the local market. We also subscribe to various online publications and newsletters to keep abreast of new trends and products. Finally, we keep a keen and watchful eye on what our competitors are up to. Why do you think people are attracted to your services? Over the past few years, the market for children’s products has shifted towards niche and high-quality products, with Whimsy Castle positioning itself to offer original creations which stand out from the usual mainstream products and have that extra wow factor. Moreover, our mindset is to treat our customers the same way we would want to be treated, so every enquiry is dealt with immediately.

Delivery usually takes place within the same day or within 24 hours. What feedback have you been getting, and what’s next on the horizon for you? The positive feedback has exceeded our expectations. We are receiving attention from other kids’ online platforms from which we derived our inspirations and ideas, so we must be doing something right. Aside from our lovely products, we attribute this, in significant part, to our website developers Rocksteady Digital Agency for building such a visually pleasing, user-friendly and cutting-edge website. We intend to collaborate with interior designers to offer bedroom inspiration and decorating ideas using our furniture and décor products as we advance. In the meantime, the search for ‘that something new and fabulous’ will continue, and more products, select toys, handpicked gifts, seasonal apparel and accessories and exclusive Scandinavian brands will be added to Whimsy Castle’s product portfolio regularly. 65

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INTO_the CLOUD While it used to be the norm for companies to own and operate their own data centres, the amount of business software running on traditional servers is set to shrink to 32% of all enterprise applications by 2022, roughly half of what was in 2019. So what do we see locally? Dayna Camilleri Clarke caught up with two local business leaders who utilise cloud technology in their services to find out more.

Brian Ferris

Managing partner Scope Solutions Tell us a bit about you and your background? At my inner core, I am a romantic idealist who dreams of a world of people trusting and understanding each other.

Perhaps inspired by John Lennon’s “Imagine”, I believe that bringing harmony in our lives is achievable. It always starts by believing in your heart that it’s possible and working it out from there. From my experience, I found that doing what you love and loving what you do, is the first critical piece of this puzzle. Despite my academic training in finance and my early experiences within the corporate world, I felt that my career path needed a few shakes and tweaks in my late twenties. So today, I best describe myself as an entrepreneur in spirit, who exploits his finance background to pursue business

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ideas, typically focused around my massive passion for applied technology. What is Scope all about, and where did it start from? The birth of cloud software over the past two decades brought a true paradigm shift to the way businesses operate. This shift allows Scope to serve SMEs with a flavour of the same rich technologies that we use with more significant enterprises. Through my involvement in supporting our small family business, I could appreciate the dynamics and limitations of such an organisation. However, it was equally easy to relate to the benefits that this technology could bring. Technology applied correctly can be a game-changer for any business, so we set up shop in 2012 to help people do just that. The Scope project founded by myself and my partner Neville brings together a diversely skilled team of great professionals who specialise in the research, implementation and support of best-of-breed cloud-based solutions. We focus on cloudbased business software and applications such as accounting, point-of-sale, inventory management, CRM and job tracking. We are fueled by a passion for driving business ideas forward and great respect for people who dare to pursue

what they love doing. Scope has been wholeheartedly working with local businesses and finance professionals for the past decade, growing organically and looking forward to celebrating our 10th anniversary next year. How do you stay on top of the latest trends? Despite the team’s different backgrounds, there are a few elements in common too. One of these characteristics is our insatiable hunger to problem solve and find the right fit for a customer’s needs. This is probably the most significant catalyst for staying relevant and updated with recent technologies and platforms. Necessity is the mother of innovation. And although constant research, attending international events and other activities certainly helps, nothing beats having a core need that needs to be addressed soon. Why do you think your customers find your services attractive? That is a very interesting question. I believe that building credibility and consequential referrals have been the source of our organic growth over the past years. People warm up to the fact that we take time to listen before we propose anything. We want to make sure that what we can offer is a long

term strategic and sustainable fit. Our commitment towards finding the right solution is also reflected in our pricing model, which is typically never front-loaded but comes in the form of an affordable monthly subscription that includes both implementation and ongoing support. Most customers appreciate that we essentially share the project risk and move forward by gradually building our partnership together through this approach. What feedback have you been getting, and what’s next on the horizon? We are not perfect, and we always welcome honest constructive feedback. This is what helps us to grow. Feedback from clients overall is highly positive and encouraging. More recently, we have also been recognised internationally in the most humbling way possible when Intuit Quickbooks, a global leader providing finance solutions based in Silicon Valley, acquired DataDear, a flagship product built by a sister company over the past years. This significant milestone has now allowed us to think broader and invest in new, promising projects. So if you have an idea, product or project you think is worth pursuing, drop us a note. Let’s discuss and find a way to make the world an even better place. 67

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actual payroll calculations and all the necessary reporting. Buddy takes the onus upon itself to be the ‘payroll expert’, abstracting, where possible, more complex decisions behind payroll. Consequently, it enables a business owner with no previous payroll knowledge to ease the process.

David Seisun Founder & CEO Buddy Limited

Tell us a bit about you and your background? I consider myself a serial entrepreneur; since opening my first business in 2014, I have been a co-founder in over half a dozen successful businesses. We always tried to introduce technology to enable businesses to become more efficient through the various enterprises I was involved in. Before Buddy, I was involved in bringing in pre-existing solutions as a consultant. In 2018, that all changed as we co-founded Buddy. Could you kindly tell us more about what Buddy is? Buddy is a Cloud Payroll Software. Buddy is there to help business owners, HR managers and accountants in their payroll journey, from when they engage employees to managing timesheets and vacation leave, doing the 68

This abstraction has enabled us to work with many microbusinesses who take minutes to complete payroll every month and work with large corporations reducing their payroll time by over 50%. Buddy also connects out of the box with several thirdparty solutions via APIs. This enables data to flow across systems, be it third party HRMS, punch clocks, time and attendance and accounting solutions. Our most popular connections currently are Xero, Deputy and Bamboo HR.

published, causing havoc when implementations do not match the wording used within the Budget speech and documents. Furthermore, with no business or accounting courses teaching payroll, business owners and those doing payroll, unfortunately, do not always have the necessary knowledge. As a result, it is giving rise to many misinterpretations. How do you stay on top of the latest trends? Trends are always a challenge; you need to identify the temporary trends that leave a lasting impact and are worth investing in. Through our affiliation with several international technology groups, we can filter the noise, identify what is coming through and internally discuss any technology we should be adopting.

What challenges have you found locally along the way?

Locally, big brands have adopted your services; why do you think they were attracted to you?

The lack of documentation provided by the government authorities regarding payroll. Hence in some cases, we had to guess or specifically query the relevant departments, sometimes receiving inconsistent replies. In addition, every Budget, we always play ‘guess the changes’ since new measures are announced. Yet, legal notices take months to be

Big brands have chosen Buddy because it is straightforward to use and takes a big load off their team. When integrated with timesheets or punchclocks, all the calculations, including overtime, night allowances, and shift allowances, are done by Buddy. Then, the team has to ensure that the data inputted is correct. Another big bonus

is our fair pricing structure. Instead of using fixed licenses, the system grows and evolves with the business, depending on how many employees are paid in a given period. How have you adapted to the pandemic scenario? One could say with COVID-19, we had no choice but to adapt to help out our clients from an environment of everchanging payroll rules. Our development team constantly kept an eye open for new scheme introductions to instantly start developing new code to have the change done in time for the next payroll. At the same time, our support team constantly sent emails to clients with all the latest changes. What feedback have you been getting, and what’s next on the horizon for you? Buddy has been very well received, and our clients tell us how payroll has become more accessible. The best feedback is when a client moves from one company to another and introduces Buddy to the new firm. This feedback drives us forward, not only to keep innovating in Malta but also internationally. The first two jurisdictions we have identified are the UK and Ireland, where Buddy will be available by early 2022.

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For the love of tech Strategic partnership for tech start-ups and academia.

t Tech.mt, we understand that start-ups and small businesses need as much assistance as possible to take their business to the next level, whether at concept validation, product development, launching on the market or reaching clients. Given the challenging conditions that start-ups or small businesses face, investing in consultancy or high-end expertise is an expense only few may afford. The primary purpose of this initiative is to assist startups and students who have an innovative concept but don’t have the knowledge or the experience to move their concept forward. This initiative will ultimately provide local tech start-ups with pro-bono, unbiased feedback from an external perspective, management advice, strategic planning and marketing tactics. Through an expression of interest issued in

November 2020, Tech. mt was approached by several businesses offering consultancy services in various areas. These companies will be responsible for offering a predetermined number of hours of free consultancy to eligible beneficiaries, providing their expertise in but not limited to validating a digital concept, consultancy on emerging technology, market assessment and goto-market strategies, digital strategies, e-commerce and digital marketing, and internationalisation. This initiative is open to Maltese tech start-ups and students with innovative business concepts. To be eligible, the following criteria must be met: the company or individual must be based in Malta; must have been established for less than five years; is unlisted on the Malta Stock Exchange; must not have taken over the activity of another enterprise or been formed through a merger.

“Being a one-woman show working on a strategy to take my start-up to the next level, I welcomed the insights from Seed and Redorange. Both understood the struggles of a business that is still in its infancy and gave useful insights into what should be the way forward to execute my ideas and grow my concept. I believe that networking and getting advice from experts in different fields is essential for a start-up, especially if, like me, you don’t have an in-house team, so I’m very thankful to Tech. mt and the participating industry partners for this initiative.” Donna Cardona, MyMama | Consulted by Seed and Redorange

“Tech.mt matched us with three different advisors based on our goals and needs. Our meetings with GO Ventures, ICE Malta and Ascent were extremely informative and productive. I believe that the consultation initiative presented a great opportunity to our start-up in substantially improving its go-to-market strategy.” Steve Muscat, Better Yourself | Consulted by Go Ventures, ICE Malta and Ascent

“Thanks to Tech.mt, we connected with industry leaders and validated our business idea. Throughout these meetings, we received insightful feedback on what could be improved and grow our start-up into a bigger, successful business. This is a great opportunity for those seeking to understand their business potential and take it to the next level. Thank you, Tech.mt.”

Snap on the QR Code

Andrea Mangion & Clyde Vassallo, Pragmatest | Consulted

for more info.

by Seed and Ascent

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M A RKE TI NG

What is data-driven marketing? If you’re interested in data-driven marketing and would like to find out how smart data could help you deliver a higher marketing ROI, you’ve stumbled upon the right article. Throughout the past couple of years, the foundations of the marketing industry have been rocked, to say the least. Previously, marketers relied heavily on their ability to direct a marketing campaign in the right direction based on their gut feelings. However, today, marketers are finding their way back to the most reliable source of information – customer data. Alan Cini, co-founder of Rocksteady, explains.

ot everyone is finding the shift seamless, and many people within the industry still carry several unanswered questions or clouds of vagueness regarding specific processes. Some people find obstacles when it comes to locating the relevant data. Some others find it hard to comprehend how they are supposed to use the information they already must make sense of it. The basics of this approach will be tackled throughout this article. Explanations will be kept as simple as possible in an effort towards making understanding as stress-free as it can be. Marketers who adopt the data-driven approach use details regarding their customers’ interaction with a brand to predict their future needs, desires, and

behaviours. The selection of customers is referred to as their target audience. In turn, this information helps them develop personalised marketing strategies that will give them the highest possible return on investment. To understand the difference between data-driven marketing and traditional marketing, one must go back to the very basics. Naturally, marketing has always followed this pattern:-

• Discover your customers’ needs and desires – gain a thorough understanding of your target audience. • Use the information that you’ve gathered to identify and then even anticipate your customers’ needs. • Tailor your marketing strategies to deliver the right goods to your target audience.

Traditional marketers attempted to do what we’ve described above by using the market studies that were available at the time and by making assumptions about their respective target audiences. The problem with this approach was that it brought a substantial amount of trial and error. Previously, companies launched many strategies before finding the one best suited for them to achieve their goals. Contrastingly, the data-driven marketing approach allows marketers to get to their customers at the right time while also offering the right product or service. Apart from the substantial improvement in communication, datadriven marketing also manages to personalise a users’ experience, target welldefined marketing segments,

and bring new customers to their tables. Moreover, when this data is acquired, companies can measure and improve their strategies on the spot. Every 2 out of 3 leading marketers admit that databased decisions ultimately trump gut instincts. Here is a list of ways in which marketers can benefit from using the data-driven approach:-

• Data will allow you to gain better insights into your target audience’s minds. • Data will allow you to build stronger connections with potential customers. • The best channels for promoting your brand or service will be uncovered. • You will be able to personalise and tailor your strategies so that your target audience doesn’t feel

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overwhelmed with ads about things they don’t care about. Like any other strategy in the world, this one does come with its own set of challenges. When it comes to the datadriven marketing approach, the most commonly faced challenges are:-

• Gathering the necessary data • Collating the data and making sense of it • Overcoming your large amounts of data to analyse the data • Build your own in-house data team Now that the challenges have been listed were going to offer you possible solutions to them:-

• The data is already in your hands and can be found in many places; your CRM, your social media channels, your eCommerce and advertising tools, your ERP system and your website analytics. • If you want to make sense of this data, you will need some marketing. This will allow you to connect all your sources into one platform. The dashboard syncs information from your channels and displays it in your preferred way to help you understand it better. • If your data is gathered in more than one place, this step will not be the easiest. However, it can also be solved with some hard work:-

a. Common data standards should be set up. b. The data exchange culture should be changed. c. Embrace a marketing dashboard. d. Building your team will allow you to set up a single data management centre while also giving individual support to critical teams. To ensure that what we’ve highlighted above is understood in the best way possible, we’ll be closing with a direct example of how other companies have used data-driven marketing. Ex. By making use of candidate data to predict industry job patterns.

Rocksteady Digital Agency Ltd gave this example. One of Rocksteady’s customers, an award-winning job placement agency, wanted to identify when clients start re-opening job opportunities after the impact of Covid-19 and post-Covid business recovery. In addition, they wanted to make sure they had a sufficient and active talent pool that would meet the change in recruitment demands, and they also wanted to run their ads during the correct intervals. Candidate and client data from a variety of jurisdictions world-over were integrated into one dashboard, and it was then correlated with the industry staffing trends. An immediate observation arose that changed what the company previously believed to be accurate.

• Workers want to reskill, mainly digital: 77% are ready to learn new skills or completely retrain. • Remote work is in demand: 72% of people who can work remotely prefer a flexible mix of in-person and remote working. • There’s a strong desire for greater inclusivity: 50% of workers say they’ve faced discrimination at work. • People are concerned about job security: 60% are worried that automation puts many jobs at risk. • The best time to advertise job opportunities was, in fact, not after the post-Covid business recovery. Now that we’ve gone through the basics of data-driven marketing, you should have a much better idea of it and how it works in simple terms. So, let’s go through it one last time.

• Make sure that your data has objectives tied to it – know what you want to find out; • Gather that data – find places that allow you to access that set of data; • Collect that data and organise it – pick your preferred data platform to store and organise your data; • Build your in-house team – this will depend on your goals, but a team will

Alan Cini

help you to analyse and act on the data, in turn. • Get organisational buy-in – make sure your stakeholders agree with your decision to attempt data-driven marketing. • Measure and track your company’s process – find a way to monitor how your campaigns are performing to analyse your actions and provide your findings with a report to present to management or stakeholders. Although this feat might not be the simplest one, it offers a lot of upsides. If data-driven marketing is not something you’ve considered before, this information should have been the gentle push that might have been needed. Data is gold. With the correct data, ultimately, you maximise ROI in both time and money. 71

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AWARDS

One Roseanne Cammileri

Simon Bonello

Cecilia Portelli

Redent Zammit

year

Trevor Axiak

The eBusiness Awards is the annual Tech.mt event that aims to promote unique and innovative ideas in the technology field. The awards, divided into nine categories (Best App, Best Tech Start-up, Best E-Commerce, Best Social Media Campaign, Best eGovernment Initiative, Best Cloud-based Solution, Best Academic Dissertation, Best Use of Technology in Business Transformation and Excellence, Innovation and Leadership In Information Security) want to identify emerging projects from different sectors, encouraging the use of web-based tools and spread the awareness about the role of technology in delivering social impact. Waiting for the results of the upcoming awards, Federica Tadiello spoke to some of the winners of the 2020 edition. 72

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What category did you win, and what was the project about? Gain Changer (gainchanger.com) won the Best Tech Start-up Award. It is an SEO tool for enterprise clients that automates the off-page SEO process by learning about industry competition and search engine algorithms over time. Simon Bonello:

Redent Zammit: I’m the winner of

the Best Academic Dissertation (Data Visualisation using BI for Digital Health). It focuses on addressing the management of appointments and resource allocation by implementing prediction algorithms in the outpatient’s clinic within Mater Dei Hospital. I have been working as an IT Consultant for almost a year, focusing primarily on emerging IT solutions in the market. In recent years, I began to gain interest in Information Technology which led me to read a degree in Computing and Business at the University of Malta. I won the prestigious Best Use of Technology in Business Transformation Award twice, once in 2017 and again in 2020 as CEO at Primary HealthCare (primaryhealthcare. gov.mt) with a project entitled ‘Moving away from paper-based patient records, towards an integrated Electronic Patient Record IT system’. The Primary HealthCare’s Electronic Patient Record (EPR) IT System is an innovative business model that leverages ICT solutions to facilitate the exchange of patientrelated health information in real-time electronically across the Primary HealthCare’s entire footprint. Roseanne Camilleri:

Trevor Axiak: I’m the founder and

director at Kyte (kyte.global), an information security company providing a one-stop-shop compliance service. We assist regulated entities with all their InfoSec and compliance requirements. We won the award for Excellence Innovation and Leadership in Information Security.

Cecilia Portelli: DNA - Creative

Design Agency, together with Growth Gurus, won Best Social Media Campaign with the Wave of Change campaign (waveofchangemalta.com). Shortly after being introduced to Neil Agius and Joshua O’Cock from Growth Gurus, we embarked on a mission to bring awareness about plastic pollution in our seas on a national level. From a social media campaign perspective, the main objective was to raise awareness through leveraging digital and social media platforms. What was the most difficult challenge you had to face while developing your project? Simon Bonello: The biggest challenge was setting up and building a project during a pandemic, which made simple tasks like communication very difficult. Also, factoring in that Gainchanger is a start-up built with sweat investment from its cofounder. The other most significant challenge was to find the people with the correct technology background to help us research and build the system. Finally, human Resource availability and cost was and is the big challenge we faced. Redent Zammit: The most difficult challenge to address was the issue of resource allocation and appointment scheduling within the clinic. At the research stage, it was found that several appointments are often scheduled at the earliest date possible without consideration of possible incoming urgent cases. This was problematic as scheduling appointments without priority often leads eventually to prolonged waiting times. Furthermore, it was found that several patients missed their appointments consecutively. Therefore, a prediction system was suggested. A total of six prediction algorithms were trained on the hospital clinic dataset, which would then be assessed by predicting the likelihood of appointments getting cancelled.

Roseanne Camilleri: Basically, this

transformation and a quantum leap from completely manual paper-based patients’ files to electronic format patients’ health records took circa six months to materialise. The introduction of the EPR constituted a change in the modus operandi of the Primary HealthCare and a cultural change – it was not enough to provide the technology, reorganise resources, and change the workflow. For the transformation to be effective, Primary HealthCare had to ensure that all those involved shifts the way they do things and embrace the new structure and practice. To do so, numerous training sessions were organised for the PHC’s 840-health care professionals to ensure that the users became familiar with the EPR system. Thus, the system becomes an integral part of their professional practice. Trevor Axiak: As an information security

company, our job is to support our clients to make them more secure. We do this by ensuring that they receive the appropriate training and continue to comply with applicable regulations. Covid-19 has not stopped us in our mission to continue to do just that. There were challenges for sure, but the team has adapted very well to provide remotely the same level of service. Cecilia Portelli: There were many

challenges during the planning stages, mainly since Neil Agius’s swim was weather permitting, so we couldn’t plan much. We were informed that it would probably have to be a last-minute message for us (the team) to get ready for the swim, anytime, any day. We also had to keep in mind that Neil and the crew would be off the grid for several hours, so we needed to plan what kind of information we would disseminate on all online platforms. We had a satellite tracker to let us know Neil’s position throughout the swim, and we were also in touch with the crew members on board the accompanying fleet, which allowed us to feed the audience with 73

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live information. This led to creating a tremendous momentum of awareness, interest and engagement. Since most of the swim took part throughout the night, as a team, we were all working remotely from our homes to bring all the latest information about the swim. After almost a year, what goals have you achieved, and what impact do you think your project had? Simon Bonello: We managed to expand further the feature set of our automation services, allowing us to increase the number of enterprise customers and invest further into building a team of 15. We have established ourselves in the gambling and technology industries and now provide our services to top brands in these verticals. Redent Zammit: This project was not implemented but it served as a pilot study to test the hypothesis statement that was mentioned previously. The results obtained showed that implementing Business Intelligence (BI) dashboards and prediction models for future appointment scheduling would enable the clinicians to analyse better the clinic status, patient demographics and manage better its resources for future allocations. The benefits of the EPR system are tangible and measurable; about 5,000 patients visiting or calling the Primary HealthCare daily are now benefitting from real-time access to comprehensive patient medical history. Roseanne Camilleri:

Besides the advantages of remote access to the patients’ health care records, the EPR also allows for the seamless exchange of information from one system to another - thereby achieving a 360° patient-centric approach. 74

Indeed, this platform fast-tracked the introduction of the PHC Telemedicine 24/7 Centre launched on 1st April 2020 to address, amongst others, the COVID-19 positive patients’ medical requirements in the community and ensure holistic continuity of care. In addition, the Covid-19 pandemic mandated a decrease in the number of physical attendances, resulting in an increased demand for telemedicinal services. Furthermore, having eliminated the paper-patient files also enhanced our meaningful contribution to a greener environment. Our range of services have grown to support the compliance needs of our clients. In recent months, we have become an Approved Assessor for SWIFT and an Approved System Auditorfor MDIA. Our educational events have persisted following our commitment to generating awareness, and we had a successful CyberSecurity Conference on the 6th of October, where close to 200 people attended. Trevor Axiak:

Cecilia Portelli: This campaign has inspired so many people

to act and not only against plastic pollution. Since Neil’s big swim, we have seen professional athletes, amateurs and young people challenge themselves to accomplish a specific goal. Many also created challenges for causes that are important to them, whether cycling around Sicily in aid of animal charities or paddling from Malta to Sicily to conquer a personal quest. Jake Vella, for example, said that Neil was an inspiration to him, motivating him to take on various challenges such as breaking his own 100km swimming record to raise awareness about ROHHAD (Rapid-onset Obesity with Hypothalamic dysfunction, Hypoventilation and Autonomic Dysregulation). “I want to send a message to anyone who feels like giving up, whether they are obese or not,” Jake Vella said at the end of the challenge. A message that speaks volumes and shows the powerful impact the Wave of Change campaign had on people from different walks of life.

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AWA R DS

Malta Climate Action Awards 2021 Malta’s first edition of the Climate Action Awards organised by the Ministry for the Environment, Climate Change and Planning was held on the 27th of October 2021. This initiative formed part of the #ClimateOn Campaign – the national education and awareness-raising campaign on climate action.

ctors from different sectors had the opportunity to showcase projects they are already implementing to mitigate against or adapt to climate change. This was highlighted during the opening speech delivered by Hon. Minister Dr Aaron Farrugia where he applauded the applicants and encouraged others to follow in their footsteps. He said that collective action will lead to our commitment towards a carbon-neutral economy by 2050. All this, within the national Low Carbon Development Strategy framework, which was recently launched for public consultation. The Awards ceremony was hosted at the Intercontinental Hotel in St Julian’s, with all participants in attendance. The five categories and the respective winners were the following: The Agents of Change category, which focused on private entities, was won by TAPP Water (Malta) for their TAPP Water filter. The prize

money for this award category was made possible thanks to the sponsorship from the Building and Construction Authority. The Facilitator Category was about climate action from within the public sector, with the Energy and Water Agency winning the category for their Energy Efficiency Scheme for sports organisations. The prize money for this award category was made possible thanks to the sponsorship by the Malta Resource Authority. The Illuminator category for researchers was won by the Department of Biology of the University of Malta, Simaseed. The prize money for this award category was made possible thanks to the sponsorship by the Research, Innovation and Development Trust. The Engagers category for engagement and awareness initiatives was won by the Malta Business Bureau, which reached out to various entities in the private sector in the form of capacity building workshops. The prize money for this award category was made possible thanks to the sponsorship from the Climate-KIC hub within MCAST. Lastly, the Innovator category was won by the start-up company FLASC and the Faculty of Engineering within the University of Malta for developing an innovative technology designed to store renewable energy produced from solar and wind power. The prize money for this award category was made possible thanks to the sponsorship by Malta Enterprise. The FLASC project was also chosen to be Malta’s Climate Action

Crusader for 2021 for the vital gap it closes to make the generation and use of renewable energy feasible in Malta. Whilst generating clean and zero-emission energy is crucial, energy storage makes clean energy more reliable by making it available at all times. The awards were also sponsored by the Environment and Resources Authority, Ambjent Malta, the Planning Authority and Circular Economy Malta (CE Malta). The Seedgreen Programme is an initiative by the Ministry for the Environment, Climate Change and Planning and the Junior Chamber International supported by Malta Enterprise. Its purpose was to serve as capacity building for individuals interested in contributing solutions to the climate crisis. Pierre Axiaq and Clyde Zammit were awarded first place and a €12,000 cash prize for their project tal-Kampanjol. The award for this category was made possible thanks to the sponsorship from Tech.mt. Second place and a €10,000 prize were awarded to Amy Sargent for her business idea of Ecowash. The prize money for this award category was made possible thanks to the sponsorship by Malta Digital Innovation Authority. The third place and €8,000 were given to Karin Caligari for project PlantB. The prize money for this award category was made possible thanks to the sponsorship by MTA (Malta Public Transport). >> For more information on Malta Climate Action Awards, follow the #ClimateOn campaign on Facebook and Instagram at ClimateOnMalta.

TECHWATCH

Cutting-edge design, advanced technology and beautiful objects. Techmag helps you invest in creativity.

TECHMAG

Louis Vuitton Horizon

This portable speaker gives you up to 360 degrees of directional audio with its included dock. €2890 / eu.louisvuitton.com

Onewheel GT

It reaches up to 32 km/h and has a generous maximum range of up to 50 km. In addition, this travel board boasts a redesigned control system with a higher voltage for more power, torque, and better overall performance. €2200 / onewheel.com

Segway Ninebot Mecha Kit

Transform your self-balancing scooter into a fun game with the Segway Ninebot Mecha Kit turret. €499 / segway.com

Aipower Wearbuds

Free yourself from easy-to-lose earbuds and inconvenient charging. €199 / myaipower.com

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Gita and gitamini cargocarrying robots

Transport the groceries, your gear, and more without a car—use the gita and gitamini cargo-carrying robots. €1850 / mygita.com

Amazon Astro

This new smart home robot offers Amazon Alexa voice control, artificial intelligence, advanced hardware and software, and computer vision. €999 / amazon.com (US only)

Samsung Galaxy Z Flip3 Bespoke Edition

With this edition, you can customize and choose different colour options, expressing your personality. €1099 / samsung.com/it

TECHMAG

A STOCKING FULL OF STARS Start the new year in style with Techmag’s gift list.

ROLEX MILGAUSS

BALMAIN

Oyster, 40 mm, Oystersteel €7,700 / elcol.com

Logo-intarsia wool-blend rollneck sweater €1,390

TOM FORD

4cm black leather belt €650

SAINT LAURENT

Large logo-embroidered leather-trimmed felt tote bag €1,250

MONCLER

GUCCI

Brixton Horsebit collapsibleheel leather loafers €790.60 78

All items available from mrporter.com

Salzman logo-print quilted shell down jacket €1,030

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PATEK PHILIPPE

CHRISTIAN LOUBOUTIN

Twenty-4 stainless steel € 12,600 / elcol.com

Caracaba mini leather-trimmed appliquéd patchwork canvas tote €1,390

FENDI

Belted wool and silk-blend coat €3,140

BALENCIAGA

Hourglass XS leather tote €1,450

GUCCI

BALMAIN

Skye logo-detailed stretchknit ankle boots €850

Metallic jacquard-knit cotton-blend sweater €690 All items available from net-a-porter.com

TECHMAG

Bizdirectory Altaro Software Founded in 2009, Altaro has grown over the years, developing robust backup solutions to address businesses and organisations’ core data protection needs worldwide and the IT resellers, VARs, consultants, and managed service providers who serve them.

Gain Changer A new and easy way to supercharge your link building outreach and connect with hundreds of affiliates. Step into the future with their intelligent automation, eliminate tedious manual scouting and contacts, whilst unlocking your time to focus on closing.

+356 2032 3461 sales@altaro.com altaro.com

+356 7790 2911 contactus@gainchanger.com gainchanger.com

Be Communications Be Communications is a multi-disciplined agency that produces sharp conceptual designs, quality print, and compelling content.

GO GO is Malta’s leading communications services company. As Malta’s first quad-play provider, they provide mobile, fixed-line, internet and TV services to more than 500,000 customers.

+356 2134 2155 hello@bemags.com becommunications.com

+356 8007 2121 customercare@go.com.mt go.com.mt

Betsson Group From a single slot machine in 1963 to being listed on Nasdaq Stockholm and holding gaming licenses in twelve jurisdictions. Today, they are a multi-national company employing 1,900 people of around 55 different nationalities in 12 locations worldwide.

Intercomp Dell, iPhone, Samsung, Huawei, Philips, Nokia, Canon, DJI. Buy your laptop, smartphone, TV, printer, drone or camera using Intercomp’s Easy Payment Scheme.

+356 2260 3300 info@betssongroup.com betssongroup.com Bibe Need a cold drink while cycling? We took the bottle cage from a bicycle, added some electro-mechanical know-how and created Bibe.

+356 2291 6206 sales@intercomp.com.mt intercomp.com.mt Kyte Global Kyte Global is a complete compliance solution provider to the world’s leading financial institutions, gaming operators and commercial organisations in 60+ countries.

paul@bibe.co bibe.co

+356 2759 5000 info@kyteconsultants.com kyteglobal.com

Buddy A better way to do payroll. Buddy’s feature-rich and easy-to-use payroll solution gives you all the tools you need.

MAPFRE MAPFRE Middlesea is Malta’s leading insurance company, offering a range of personal and commercial protection products.

+356 2033 1199 meet@buddy.hr buddy.hr

+356 2124 6262 mapfre@middlesea.com middlesea.com

dna. dna. is a multidisciplinary creative studio helping businesses cultivate and nourish their brands since 1995.

Malta Digital Innovation Authority MDIA is the primary authority responsible for supporting all governmental policies that promote Malta as the centre for excellence for technological innovation while setting and enforcing standards that ensure compliance with international obligations.

+356 2138 3557 hello@dna.studio dna.studio EY Malta EY is a global leader in assurance, tax, transaction and consulting services. The insights and quality services we deliver help build trust and confidence in the capital markets and economies the world over. +356 2134 2134 ey.malta@mt.ey.com ey.com/mt Few App A holistic fitness app created to help improve physical and mental well-being. hello@few-app.com few-app.com

+356 2182 8800 info@mdia.gov.mt mdia.gov.mt MyMama Their team of professionals offers courses, online consultations, and homebased services to provide you with the support you need along the precious journey of parenthood. info@mymama.mt mymama.mt Pragmatest Through Pragmatest, they aim to help you build and deliver better software. To this end, they want to share with you the battle-tested tools, techniques and processes they have gathered throughout their careers. +356 7926 3657 hello@pragmatest.com pragmatest.com

P R AG MAT E S T

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Primary HealthCare The Primary HealthCare’s multidisciplinary team is committed to the highest possible level and quality of integrated primary health care service delivery. +356 2123 1231 customercare.phc@gov.mt facebook.com/primaryhealthcaremalta

The Malta Chamber The Malta Chamber of Commerce, Enterprise and Industry is an autonomous institution. Membership is open to any form of commercial enterprise in or from Malta. Its main objective is to promote and protect business interests. +356 2203 2300 info@maltachamber.org.mt maltachamber.org.mt

Rocksteady Digital Rocksteady is a creative-minded, human-centred, tech-savvy digital agency based in Malta that creates innovative ideas through building brands, products, and experiences.

Vivendo The Vivendo Group is the parent company of 3 furniture retail outlets in Malta and two in Cyprus. The B2B division manages furnishing solutions for the hospitality, fitness, office workspaces sectors and customised solutions.

+356 2017 3227 info@rocksteady.mt rocksteady.mt

+356 2227 3000 info@vivendo.mt vivendo.mt

Scope Solutions Scope Solutions is an organisation based in Malta offering innovative cloudbased solutions. They deliver accounting software, POS, inventory management, e-commerce and a host of other solutions.

Whimsy Castle Whimsy Castle is a kid’s online store dedicated to sustainable and high-quality bedroom furnishings and interiors, select toys, gifts and everyday essentials.

+356 7905 5555 nfo@scope.com.mt scope.com.mt Seed Consultancy Seed is a boutique advisory firm based in Malta, focusing primarily on regulatory, tax and strategic advisory. We take a proactive and practical approach and aspire to become our clients’ trusted advisors by constantly adding value to their business.

+356 9989 8290 info@whimsycastle.mt whimsycastle.mt Zack Ritchie Tailor-made illustrations help shorten the distance between you and your customers by visualising your brand’s character, beliefs and dreams. info@zackritchie.com zackritchie.com

+356 2141 4210 info@seedconsultancy.com seedconsultancy.com SilentSave SilentSave introduced the SS bracelet designed to help you feel safe anywhere. SilentSave was formed in October 2020 as part of the team’s Bachelor of Commerce Degree course at the University of Malta. silentsave.mt@gmail.com instagram.com/silentsave STM Malta STM Malta is a multi-jurisdictional financial services group listed on AIM, a market operated by the London Stock Exchange. They specialise in managing client assets concerning retirement, estate and succession planning and wealth structuring. +356 2133 3210 info@stmmalta.com info.stmgroupplc.com/malta Switch Switch is a digital and brand agency. We tell your story to your audience, whatever it takes. And we make it look gorgeous. +356 2131 6770 espresso@switch.com.mt switch.com.mt Tech.mt Created by the Government of Malta and the Malta Chamber of Commerce, Enterprise and Industry to promote the national strategy on innovative technology. +356 2226 2100 techmt.contact@tech.mt tech.mt

TECHMAG

TECH TALK

3CX has just released V18 of its business communications solution

Three new projects with blockchain technology launched in the public sector

3CX is an open standards communication system that delivers a simple, flexible and affordable solution ready to serve your business needs today. It only takes one platform to connect customers and co-workers via text, voice or video, so you can forget about the headache of managing multiple communications systems for good. With the release of V18 in August this year, 3CX took it up a notch and revolutionized customer communication as we know it. The modern UC solution is fully equipped with best in class video conferencing, collaboration tools and a full suite of call and contact centre features. In addition, you can also take advantage of the innovative 3CX Live Chat solution that allows you to convert your live chat into a live call for additional customer support without any additional charges. Meanwhile, seamless integration with popular CRMs and Microsoft Teams offers not only easy navigation between the apps but, more importantly, helps centralize your internal and external communication. As a result, watch the conversion rates and customer satisfaction skyrocket, as you’re able to track all your customer data and deliver a truly personalized service to your clients. See it for yourself! Get 3CX free for the first year (www.3cx.com/ phone-system/download-phone-system): for unlimited users, including mobile apps, web conferencing, Live Chat, Facebook business integration, and more. Even after the trial year expires, 3CX’s pricing remains unbeatable among the competitors. So what are you waiting for?

After the government launched its strategy in distributed ledger technology in 2019, this strategy continues to be implemented today, as three new projects using blockchain technology have been launched. This was announced by Minister for the Economy and Industry Silvio Schembri during a press conference organised by the Malta Digital Innovation Authority (MDIA). Minister Schembri said that the first project was spearheaded by the Department of Commerce within the Economic and Industry Ministry. This will ensure that the digitisation of official documents relating to industrial property rights (trademarks, designs, patents) is registered on protected digital networks. Therefore, new ideas, designs or patents need to be protected by trademark registration. The Minister said that the second project concerns a proposal that the Ministry spearheads for Gozo. He explained how Gozo is known for genuine products made on the island itself. Through this project, which is being carried out between the Ministry for Gozo and the MDIA, using DLT, Gozitan products will be digitally labelled during the manufacturing cycle, and the process will be documented within the system. The third project will see the strengthening of the Planning Authority through DLT. Here, Minister Schembri explained that the level of security on such sensitive documents would be bolstered. Around 600 companies will participate, ranging from start-ups, gaming companies, blockchain, artificial intelligence and others. This shows that the private sector is welcoming the government’s policy on these sectors. MDIA chief executive Kenneth Brincat said that “Through this public call for the implementation of the proposals announced today, we are seeing a growing awareness of the benefits of these innovative and emerging technologies”.

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BUSINESS | LIFESTYLE | DESIGN

ISSE 31

BE SEEN WHERE IT MATTERS.

OUT NOW! Read on bemags.com