HSBC, Vodafone Malta launch awards for export and innovation

HSBC and Vodafone have embarked on a joint initiative to reward businesses for their export and innovation talent. The awards will cover both manufacturing and services-related Maltese businesses with the aim to encourage and support these Maltese businesses in the innovation and export of their products and services.

The HSBC-Vodafone Export and Innovation Awards, which were launched during a business breakfast for industry at the Excelsior Hotel in Floriana, will consist of four categories: Most Improved SME Exporter (annual turnover less than €10m); Most Improved Corporate Exporter (annual turnover more than €10m); Most Innovative SME Business (annual turnover less than €10m); and Most Innovative Corporate Business (annual turnover more than €10m).

The different categories will allow SMEs to compete on a level playing field with larger companies, as they are assessed according to their innovative performance and potential rather than size, strength or numbers.

Apart from rewarding good performance and recognising Malta's business excellence, the initiative will act as a platform to empower entrepreneurs to become more innovative and be in a better position to compete and tap both the European market which counts some 500 million customers and the wider global economy.

As the two foremost multinational corporates with an on-the-ground-presence in Malta, HSBC and Vodafone will be backing businesses to enhance their stature and go international by imparting knowledge and sound advice to help them grow.

HSBC Malta CEO Alan Richards said that following the difficulties created by the global economic crises in the past two years, it was time to focus on innovation and trade with local businesses to help further stimulate the recovering local economy.

Mr Richards explained: "The genesis of these awards lies in the joint recognition by HSBC and Vodafone that it is important for large international companies to make sure we get behind local business and government to help stimulate further the recovery in the local economy." He added: "I hope and believe that these annual awards will help encourage businesses of all types to focus on both international opportunities and innovation - characteristics you will see in spades in the DNA of both HSBC and Vodafone, and which have underpinned the success of both companies."

Inaki Berroeta, Vodafone CEO, said innovation is key to successful businesses and that bringing something new and different to the market that is relevant to customers' needs gives companies the edge over others. "These awards will acknowledge creativity and novelty, support Malta-based businesses, and in the process emphasise the importance and significance of innovation to a healthy Maltese economy."

Award-winning companies will get an automatic referral to the European Business Awards, which HSBC also supports, and is another opportunity for Maltese companies to show their talent on a European stage.

Charities will also be beneficiaries of these awards since all cash prizes going to the winning companies will ultimately be donated to good causes.

Businesses may submit their applications from June 15 until September 30. The awards ceremony will take place on November 26. The Times is media partner of the HSBC-Vodafone Export and Innovation Awards.