€100,000 allocated to Seed Fund Award transforming ideas into projects

The Minister for the Economy, Silvio Schembri, has launched the eighth edition of the Seed Fund Award with a fund of € 100,000 so that new research projects and ideas can be implemented and marketed.

Signing the agreement, Minister Schembri said the Government will continue to encourage a knowledge-based economy built on research, creativity and innovation.

He said that Malta has the potential to serve as a basis for the implementation of ideas from around the world where new technologies can be tested.

The Minister emphasized that research and innovation also creates new jobs and saves lives, as the COVID pandemic has shown.

The Rector of the University of Malta, Professor Alfred Vella, said research was underpinned the University of Malta and that the implementation of research was an important step for ideas on paper to be converted into projects that make a difference in people’s lives.

The Rector said that the funds of the Seed Fund will be boosting the research that the University was doing in various fields.

So far the scheme has donated € 800,000 to 34 projects, with grants ranging from € 5,000 to € 25,000.