€ 100,000 in funding for maritime innovation

A research fund to reward innovators in the maritime sector has been reopened for the fifth consecutive year, with successful applicants eligible for funding of up to € 25,000.

The Maritime Proof of Concept Fund started in 2017, with € 400,000 in research funding allocated over the past four years. An additional 200,000 to 100,000 € per year are now allocated to the fund for 2021 and 2022.

All applicants must attend a proof of concept workshop to be held online Thursday, September 9 at 10 a.m. and a seed fund workshop to be held on Monday, September 13 at 2 p.m.

They then have until Wednesday, September 29 at midnight to submit their funding requests. Applicants who do not register and participate in the workshops will not be eligible for funding.

To register for the workshop, candidates can visit www.takeoff.org.mt

The latest round of funding was opened by Minister of Transport Ian Borg, Rector of the University of Malta Alfred Vella and President of Transport Malta Joseph Bugeja, Transport Malta and the university having signed a memorandum of understanding to this topic.

Transport Malta President Josef Bugeja and University of Malta Rector Alfred Vella sign a memorandum of understanding regarding the fund, under the watchful eye of Transport Minister Ian Borg. Photo: Ministry of Transport

“The shipping industry is the backbone of local and global commerce, and it will become more competitive over time. Constant research is therefore necessary to maintain our advantage in one of the most important transport activities through the development of new products, methods and concepts that meet industrial needs, ”said Vella.

Bugeja said Transport Malta was happy to be able to offer research funding.

Borg said Malta’s shipping sector is responsible for 14% of the country’s gross domestic product and noted that Malta’s shipping register has grown by 22% in terms of tonnage over the past four years.

Growth has been even faster in the superyacht sector, with an increase of 65% and more than 950 superyachts registered under the Maltese flag.

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