Malta retains 4th place in Europe for Innovative Startups

Malta has retained its position as a top destination for innovative startups, maintaining its fourth-place ranking for the second consecutive year.

This achievement was highlighted in the 2024 Startup Nations Standard (SNS) Report by the Europe Startup Nations Alliance (ESNA), which evaluated 24 EU countries.

"Our vision is clear – we want Malta to be the ideal destination for startups and entrepreneurs,” Economy Minister Silvio Schembri said.

He said Malta will continue refining its support structures. “We are laying the groundwork for long-term economic growth,” he added.

Malta's strong performance in key areas such as talent attraction, digital transformation, and regulatory innovation has been crucial to its success.

The country achieved a perfect 100% score in two critical categories: talent attraction and retention, and digital transformation. 

These achievements reflect Malta's strategic efforts to draw top talent, particularly in the tech sector, and its advanced digital public administration, offering seamless interactions for startups and businesses.

The startup ecosystem in Malta has seen significant growth, with 66 projects approved under the Start-up Finance Scheme since 2020, receiving €30 million in funds. 

These startups, spanning sectors like FinTech, MedTech, and robotics, have created over 145 high-quality jobs with an average wage of €45,000, double the national average.

Malta Enterprise CEO George Gregory highlighted this achievement, saying, "maintaining our 4th place position in the 2024 SNS Report is a testament to Malta Enterprise's ongoing efforts to create a supportive and competitive startup ecosystem."