University opens new centre to promote entrepreneurial culture

The University has set up a new Centre for Entrepreneurship and Business Incubation (CEBI) with the aim of putting knowledge-intensive entrepreneurship at the top of its outreach agenda.

The centre was launched today at an event attended by culture minister Evarist Bartolo. Presentations were given by CEBI director Saviour Zammit and business incubator manager Ben McClure.

CEBI's aims are to promote the development of a knowledge-intensive, entrepreneurial culture in Malta, with the wider aim of fostering the country's socio-economic development.

The centre is currently targeting knowledge-intensive sectors such as science, technology, engineering, and creative media at the University and in a wider Maltese context.

The CEBI Board will be providing strategic direction to the University's new business incubator, which is to be co-managed together with the Knowledge Transfer Office.

It will also aim to promote and facilitate the setting up of start-up funds, business angel networks (BANs) and venture capital funds to finance new business ventures.

Starting in July, CEBI will be running an intensive training program (ITP) in technology entrepreneurship, which has been developed in partnership with Isis Innovation Limited - the technology transfer company of the University of Oxford.

The development of the ITP is part financed by European Social Funds (ESF) Project 1.125 'Creating a Knowledge Transfer Framework and Technology Entrepreneurship Training Programme', which the Centre secured together with the Corporate Research and Knowledge Transfer Office of the University of Malta.

A masters programme in knowledge-based entrepreneurship is also being launched, commencing in October.

During the launch, McClure gave a presentation about the new business incubator, which will bring together innovators, entrepreneurs, experts, and investors to build a technology start-up hub in Malta.

"The University of Malta Business Incubator will be home to an exciting innovation spinout and accelerator program that helps researchers, students, and aspiring entrepreneurs create successful technology businesses - taking them from idea to investment and to launch," he said.

By providing access to business advisors and mentors, training and education, office and shared space, and facilities, financing and other resources, the aim is to close the skills and resources gap experienced by entrepreneurs as they embark on their innovative start-up ventures.

For more information about CEBI and the courses offered, visit www.um.edu.mt/cebi or contact Saviour Zammit on [email protected].

For more information on Business Incubation, visit http://www.um.edu.mt/knowledgetransfer/bic or contact Benjamin McClure on [email protected].