The University of Malta’s Take Off business incubator was launched a few weeks ago with the promise of providing a development space to start-ups and help innovators and aspiring entrepreneurs to create thriving technology and knowledge-based ventures.
By providing fledgling start-up companies with private and shared work spaces, and most importantly, business support, advice and vital connections, the Take Off business incubator aims to lower start-ups’ costs and risks and improve their chances of success.
Tech start-up Innovalise is one of the first to exploit this opportunity in an exciting area of technology that is seeing very rapid developments. The start-up distinguishes itself in providing easy to use cloud solutions and specialising in business intelligence and management platforms.
All the platforms are being developed to fulfill the needs of start-ups, business incubators, innovation centres, business mentors and investors.
“It is true that there are many software providers out there. What must be understood here is that to outsource your development to other companies, while convenient, is a very costly solution. Innovalise aims to break this gap by proving low cost and solutions which are simple and easy to use, while having the customer in mind,” explained company co-founder Jason Cruz.
“Innovalise doesn’t just produce its own cloud solutions, it also helps other entrepreneurs looking to execute their ideas, who lack the resources to do so, to execute those ideas and develop their solutions.”
The company’s technical team currently consists of just two senior back-end PHP developers, one systems engineer and two mobile platform developers.
All solutions are developed with the client in mind. All platforms are designed and developed as web apps, also as Android and iPhone/iPad applications. This allows for a greater method of access to the developed platform and with a web app a client is not confined to the web, but instead can also be clearly visible on the Apple iPhone, Android phone or tablet.
“Take Off is helping us get ready for the market and for investment by coaching us and providing valuable business planning advice. The incubator itself will serve as a pilot customer when our product is released soon,” concluded Mr Cruz.
Take Off is helping us get ready for the market
The Take Off business incubator benefited from European Social Funds through the ESF Project 1.125 Creating a Knowledge Transfer Framework and Technology Entrepreneurship Training Programme.
Take Off has a seed fund of €100,000, Malta’s first funding programme designed to support early-stage technology and start-up company development, as a joint initiative between the Ministry for the Economy, Industry and Small Business, the University of Malta’s Centre for Entrepreneurship and Business Incubation (CEBI) and Take Off.
The new business incubator has already attracted the attention of big players in the technology industry. Microsoft Malta and the University of Malta have already signed a memorandum of understanding (MoU) that effectively establishes an alliance between the Microsoft Innovation Centre and Take Off.
Microsoft said the agreement was in line with the vision shared by both parties which seeks to foster knowledge transfer in technology and business skills through training, workshops, software products testing, demonstrations, and through providing logistical infrastructure for innovation-driven enterprises of all sizes in the ICT sector.
Through this MoU, Microsoft Malta and the University of Malta, through joint programme activities, training, promotional and networking events and educational activities will be assisting in the creation of sustainable businesses by providing business incubation facilities, infrastructure, resources and support to create innovative new products and services, bring those products and services to the market and support the fostering of well-managed competitive businesses, developing a qualified workforce and maintaining their expertise.
www.takeoff.org.mt