Stimulating Investment in Innovation

MedFest Call - FAQs For Applicants

WHAT IS MEDFEST?

MedFest is a one-day, invitation-only event to be held on December 14, 2019 at the Valletta campus of the University of Malta (UM). The venue will feature a range of enterprises showcasing local innovation, advice and resources. After a morning programme of invited speakers, the exciting main event of MedFest will be the ‘Live Pitches’ for equity finance.

WHERE DOES MEDFEST COME FROM?

MedFest is based on the extremely successful UK model, VentureFest, which began 21 years ago in Oxford and has now grown to 13 cities. The formula is proven to stimulate investment in innovation, which is why we’re bringing the concept to the Mediterranean through the Italy-Malta I-KNOW project.

HOW DOES IT WORK?

On the day of the event, eight entrepreneurs (four from Sicily, four from Malta) will deliver a high-impact, ten-minute, ten-slide live pitch, in a bid to convince invited private investors (Business Angels) to invest in their company. The entrepreneurs will be selected from those who apply for the Call, then intensively mentored to ensure they are well prepared. Each presentation will be followed by ten minutes of Q&A with an invited panel of experts and between sessions investors and entrepreneurs can meet in private to discuss potential investment.

WHY WOULD I APPLY?

Being selected for MedFest is an opportunity for people with an innovative business, or business idea, to raise finance to bring that idea (their intellectual property) to the market.

Raising business finance in Malta is usually limited to securing a loan (debt finance) or perhaps applying for a start-up grant. However, innovations typically require a large cash injection to launch but have no assets or income to leverage, making finance hard to secure. Raising equity finance provides a solution whereby company founders offer a share of their early-stage company to private investors (Business Angels) looking for innovative ways to grow their money. MedFest will give you the chance to make such a pitch for equity finance to the invited private investors, which could very well change the course of your future.

WHAT WILL I RECEIVE?

In addition to the opportunity to attract significant investment with your pitch, if you’re selected for MedFest you’ll receive expert mentoring, coaching and business advice valued at upwards of 15,000 euros, absolutely free of charge.

You will also join (for free) the TAKEOFF business incubator at UM where you’ll be guided through a proven enterprise-building framework, and receive invaluable pitch training based on an internationally successful ‘real world’ format. It’s an intensive, hands-on education in entrepreneurship and the rare skill of raising equity finance, along with the latest advice on how to handle any technicalities, such as capital gains tax. These skills could normally only be obtained by committing years, and thousands of euros, to a comprehensive programme of learning, but being selected for MedFest will open up this world of opportunity to you in just a few months.

Importantly, all these services are free and you will not be required to pay any commissions or commit a percentage of your company to the organisers of MedFest.

WHO CAN APPLY?

Anyone with a good business idea can apply to the ‘MedFest Call’ below, including students, academics, entrepreneurs, existing businesses and start-ups. In accordance with the goals of the I-KNOW project, preference will be given to ‘quality of life and health of citizens’ and ‘protection of the environment’ sectors, and also high-tech, high-growth. Entrepreneurs selected to pitch at MedFest will need to incorporate a limited company in order to offer shares to investors.

HOW DO I APPLY?

All the information you need to apply is below, including the Material Downloads that you’ll need to download and complete. Please don’t hesitate to contact us with any questions.

WHAT IF I’M INTERESTED IN ATTENDING MEDFEST AS A ‘BUSINESS ANGEL’?

Companies pitching at MedFest will have been through a rigorous selection process and received intensive training and business mentoring to develop a strong business plan. If you’re keen to invest in a promising, early-stage company that has done their homework, then we’d like to talk to you. Please contact us to register your interest and find out more about the opportunity to become an invited potential investor.

EXTENDED APPLICATION SUBMISSION DATE

Following a request by our Sicilian counterparts, the deadline for Medfest applications is being extended to midnight of 20th October 2019.

HOW TO CONTACT US:

Email: info@takeoff.org.mt
Phone: +356 2340 3781
Mobile: +356 9984 2597

Timeline & Deadlines

  • The Call for Innovative Businesses Opens
  • 14 August 2019
  • The Call for Innovative Businesses Closes
  • 30 September 2019 at Noon
    Extended to 20th October at Midnight
  • Publication of shortlisted applicants
  • October 2019
  • Selected teams sign the agreement and start the incubation phase
  • October 2019
  • Defining the business idea
  • October 2019
  • Entrepreneurial masterclass - Sicily teams
  • October 2019
  • Entrepreneurial masterclass - Malta teams
  • November 2019
  • Business model and team organisation
  • November 2019
  • Pitch-deck review and identification of potential investors
  • December 2019
  • Pitch competition - MedFest Malta
  • 14 December 2019
  • Accompanying path to business - For Italian ideas that received external funding
  • 15 December 2019 to 30 June 2020

Material downloads

  • Application
  • Cash Flow Forecast template
  • Guidelines for Applicants
  • MedFest Agenda
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