For the 5th year running, the TAKEOFF Seed Fund Award (TOSFA) will support researchers and entrepreneurs with their innovative technologies and business concepts. A total of €100,000 will be awarded through a competitive process whereby the best written applications are shortlisted for a live pitch in front of a panel of judges, with the top applicants receiving funding.
The Ministry for The Economy, Investment and Small Businesses (MEIB) and the University of Malta have launched the 2018 edition of TOSFA, with the support of the University’s Knowledge Transfer Office (KTO), TAKEOFF Business Incubator, and the Centre for Entrepreneurship and Business Incubation (CEBI).
Minister for the Economy, Investment and Small Business, Dr Christian Cardona commented “Our economic future depends on the talent we nurture today. Our start-up scene is buzzing and this seed funding is vital for research and up-and-coming entrepreneurships’ vision to be turned into commercial reality.”
Entrepreneurs and start-ups working on ideas for innovative products and services are encouraged to apply for up to €20,000 in Seed funds, intended to take them a step closer to their first customer or investment. Researchers working on innovations developed through University R&D may apply for Proof of Concept funds to take their technology closer to commercialisation. Award winners will also receive mentoring and support for their endeavours through TAKEOFF and the Knowledge Transfer Office.
“The past four cycles of the TAKEOFF Seed Fund Award have aided 21 start-ups and 12 proof of concept projects to bring their ventures closer to commercialisation. We are excited to see what the fifth cycle of the Award will entice” commented University of Malta Rector, Prof. Alfred J. Vella.
Workshops to explain the application process and provide the skills and tools necessary to create a competitive proposal will be held on the 2nd May for University researchers (Proof of Concept funds) and the 5th May for entrepreneurs (Seed funds). For the first time since the Award’s inception, these workshops are mandatory for all interested applicants, and the final application form will only be accepted if applicants or their representatives register and attend the respective TOSFA workshop.
The deadline for submission of written applications for TOSFA is Friday 18th May at noon. For further details visit https://takeoff.org.mt/seed-funds/takeoff-seed-fund-award-2018/
