Local crowdfunding platform ZAAR will represent Malta at a European competition for entrepreneurs after it was awarded first prize in its category at the National Enterprise Support Awards. 

ZAAR - a joint venture between the Malta Business Bureau and University of Malta - is run by PEI Ltd. The platform is part of the European Crowdfunding Network. 

The National Enterprise Support Awards prize means ZAAR will now be one of two Maltese entries at the European Enterprise Promotion Awards, to be held in Slovakia in November. 

“This award gives ZAAR additional exposure and acknowledgement, as well as further credibility. As a result of this exposure, we will be able to make people more aware of the service we offer with regard to alternative finance," said PEI Ltd chairman George Vella. 

ZAAR manager Matthew Caruana said that the platform's growth had "opened the doors for public-private initiatives" in Malta. 

The National Enterprise Support Awards are organised by the commerce department together with the enterprise policy and schemes directorate within the Economy Ministry.

Their aim is to reward entities that support entrepreneurship and the promotion of enterprise growth. The competition puts a spotlight on the role of the public sector at a local and national level, by creating the right environment for business and boosting their development with specially conceived projects.