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 of encouraging and supporting Maltese businesses in the innovation and export of their products and services.
The HSBC-Vodafone Export and Innovation Awards will consist of four categories: Most Improved SME Exporter (annual turnover below €10 million); Most Improved Corporate Exporter (annual turnover exceeding €10 million); Most Innovative SME Business (annual turnover below €10 million); and Most Innovative Corporate Business (annual turnover in excess of €10 million).
Apart from rewarding good performance and recognising 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 and the wider global economy.
HSBC Malta CEO Alan Richards said that, following the difficulties brought about by the global economic crises over the past two years, it was time to focus on innovation and trade with local businesses to help further stimulate the recovering local economy.
"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," Mr Richards said.
Inaki Berroeta, Vodafone's CEO, said innovation was key to successful businesses and that bringing something new and different to the market that was relevant to customers' needs gave 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," he said.
Award-winning companies will get an automatic referral to the European Business Awards, which HSBC also supports.
Charities will benefit from the awards because all cash prizes going to the winning companies will ultimately be donated to good causes.
Businesses can submit their applications between June 15 and September 30. The awards ceremony will take place on November 26.
The Times is media partner of the HSBC-Vodafone Export and Innovation Awards.