Silicon Valletta – is a Club for CEOs of Digital companies and Startup founders in Malta, its aim is to fill in the gap in the startup ecosystem in Malta – to act as an entity to speak with government and authorities and promote Malta abroad.
During ZEST – the biggest digital conference in Malta, Silicon Valletta club founders and first members were discussing why they have chosen Malta to run a Digital Business and why Silicon Valletta Club was formed.
Reasons to start your digital company in Malta
Malta offers a great “package” for anyone who would want to start and run a digital business:
- One of the most pleasant things is a culture of work-life balance and also a possibility to maintain one – LEWIS HOLLAND, DiscountIF
- Maltese people are very loyal, they will stay with your company for life – family type culture is very common at work and friendship is also very deep and long lasting. – STEPHEN CHETCUTI BONAVITA, Altaro Software
- Climate – 300 sunny days a year – JACK CATOR, Privax Ltd.
- Runway for the company, standard and cost of leaving, cost of running a startup in Malta is just 1/3 or 1/4 of cost in UK.
- Regulation – easier to approach authorities – CHRIS KAYE, Sherpa MSL
- Environment that is nurturing entrepreneurs and startups, vibe, government support and subsidise.
- English language (big +) – KRIS JES PETERSON, CannonBall Invest
How does Silicon Valletta Club help founders and CEO’s of digital companies
- It gives an opportunity to bounce ideas with like-minded people from different backgrounds;
- Rise awareness – Malta is not only about iGaming and startups create job places, growth of economy etc – KRIS JES PETERSON, CannonBall Invest
- Being entrepreneurs could be a lonely experience. Having a team that shares similar problems – that’s great support.
- As a group we can contribute to the community by “lobbing” interests of smaller companies – regulations were created for bigger companies and one can not compare startup with industry dinosaurs – there is a need to create some differentiation and Silicon Valletta has an ambassadorial role in it – CHRIS KAYE, Sherpa MSL
- Malta is small enough and we can really make a difference. For example, it can take a year to open a bank account for a startup – that should be changed – JACK CATOR, Privax Ltd.
- Silicon Valletta is actively supporting a tax back initiative for startup investments. Although Malta offers a very attractive income tax rates for non-residents, the problem is that company income tax for locals goes up to 35% – STEPHEN CHETCUTI BONAVITA, Altaro Software
- To put Malta on digital map and make Malta more agile, as well as to promote startups within Malta – there are a lot of wealthy people, but not many investors here – LEWIS HOLLAND, DiscountIF