Digital Island 2022 by Content House

COVER STORY

Local entrepreneurs report rapid shift to online business

16 COVER STORY

TECH

DIGITAL TRENDS

Meet the minds behind innovative digital businesses in Malta

5 local start-ups making waves

Global digital trends shaping Malta’s economy of tomorrow

DIGITAL ISLAND 2022 T O M O R R O W ’ S W O R L D . T O D AY.

Official Partners

T O M O R R O W ’ S W O R L D . T O D AY.

COVER STORY

COMMUNICATIONS

Spotlight on: Extreme digital growth in the post-pandemic age

Regulating for a digital communications transformation

As the local economy shifts rapidly to the digital sphere, Jo Caruana speaks to regulators and businesses to understand what this sudden acceleration means for both companies and consumers.

The Malta Communications Authority’s CEO, Jesmond Bugeja, and other key team members explain how the MCA is working, locally and internationally, to spearhead digital innovation in the years ahead.

COVER STORY

5 local start-ups making waves

Meet the minds behind local digital business ideas Jo Caruana meets the minds behind five innovative digital business ideas born or based in Malta to discover how each is taking its industry by storm.

TECH

Dean Muscat sheds light on five local start-ups creating innovative digital products and services to watch out for.

INTERVIEW

MDIA: A pillar of Malta’s digitalisation programme

Meet Globiance’s Oliver Marco La Rosa

The Malta Digital Innovation Authority’s Chief Operations Officer, Francois Piccione, shares some of the Authority’s milestones and its ambitious plans for Malta’s digital start-ups and SMEs.

The Globiance Crypto Payment Gateway enables merchants to accept crypto payments with lower fees and instant settlements. Its co-Founder, Oliver Marco La Rosa, explains how.

TECH

Boosting Malta’s digital ecosystem Since its establishment in 2019, the Maltese Government has injected an investment of over €3 million in Tech.mt to position Malta as the global technology hub of excellence. How has the country fared thus far?

SKILLS

BUSINESS

Malta’s digital media spectrum registering unprecedented rapid growth The digital shift is reflected in marketing strategies. Content House was swift to respond with a strong portfolio of portals. Sarah Muscat Azzopardi delves behind the scenes to learn about the company’s offerings.

DIGITAL TRENDS

ICT Skills Demand and Supply Monitor Report 2021 published

Global digital trends shaping Malta’s economy of tomorrow

Claude Calleja, Executive at eSkills Malta Foundation, outlines the findings of a report that provides a snapshot of the current demand by ICT entities and the supply of ICT education and training in Malta.

From paperless payments to digital medicine and driverless vehicles, Teri Spiteri identifies the global trends that will have a direct impact on the digitalisation of Malta’s economy in the coming years.

BUSINESS

The shift to digital is here to stay The pandemic has accelerated the shift from traditional to online shopping. How have businesses fared and can such trends threaten the existence of shopping as we know it? Two industry players share their experiences with Lisa Borain.

DIGITAL ISLAND 2022 FOREWORD

The accelerated growth of Malta’s digital economy PUBLISHER Content House Group Mallia Building, 3, Level 2, Triq in-Negozju, Zone 3 Central Business District Birkirkara, CBD 3010 info@contenthouse.com.mt www.contenthouse.com.mt DIRECTOR OF SALES AND BUSINESS DEVELOPMENT Matthew Spiteri SENIOR OPERATIONS & ACCOUNTS EXECUTIVE Sue Ann Pisani CREATIVE DIRECTOR AND DESIGN Nicholas Cutajar

The shift to the digital economy has been accelerating for quite some time. Arguably, the shift in Malta had been progressing at a slower pace in comparison to larger economies, on mainland Europe and beyond. And there are several plausible reasons why; one could be the close proximity to everything: to the local bank, to pick up a take-away, to physically try on clothes from a favourite retail outlet; another could be habits – we are all creatures of habit after all. Take cheques as an example, until just a couple of years ago, most payments between companies were settled by cheque; certainly not by bank transfer. We believe that the COVID-19 pandemic has proved to be the disruptor that has accelerated the shift to the digital economy locally at an extraordinary pace. A pace that has seen us embrace trends that until very recently were prevalent beyond our shores: booking a cab via an app, using a cheque book as the exception rather than the norm, executing financial transactions via smart phone, holding virtual meetings, ordering food via an app, visiting the local bank as the exception rather than the rule, and of course, making digital and online purchases – be it for a fashion item or basic groceries – on a regular basis. And as society has moved digitally, due to this unprecedented disruption, local entrepreneurs are moving swiftly to stay ahead and come up with innovative digital business platforms or solutions by re-inventing their business model, expanding or shifting lines of business and working harder than ever. Equally impressive is the increase in the number of promising start-ups that are intrinsically flirting with business models linked to the digital economy.

Content House Ltd would like to thank all the protagonists, contributors, advertisers and the project team who have made this publication a success. Articles appearing in this publication do not necessarily reflect the views of Content House Ltd. All rights reserved. Reproduction in whole or in part without written permission of the publisher is strictly prohibited. Digital Island is distributed to all leading companies involved in the digital world, including ICT and technology related companies, AI companies, software development companies, iGaming companies operating in Malta, companies involved in the FinTech industry and digital marketing agencies, as well as to leading CEOs, Government agencies and public entities, ministries, leading law firms, communications companies and operators, creative industry leaders, banks, leading accounting firms and financial institutions.

In this annual edition of Digital Island, our editorial team has sought to cover these different angles by speaking to some of Malta’s leading businesses, that are not essentially operating a core-digital business (like a leading chain of supermarkets, in one instance) to study and analyse how the shift to digital is happening on the ground, and to unearth some challenges (and hidden costs) they have encountered along the way. We’re also featuring protagonists – on a national scale – like the Malta Digital Innovation Authority and Tech.mt to discover how the implementation of the Digital Economy plan is faring, and whether local businesses are embracing the challenges and opportunities that the digital economy has brought with it. We have also reached out to a number of young, energetic entrepreneurs who are behind start-ups (some at a very early stage and others already managing to achieve real growth) to share their authentic views on the journey they have embarked upon. These are just a few highlights of our packed edition of our annual Digital Island publication. We hope you enjoy reading this edition! 15

DIGITAL ISLAND 2022 COVER STORY

SPOTLIGHT ON: EXTREME DIGITAL GROWTH IN THE POSTPANDEMIC AGE

If you’ve noticed the large number of traditional retail outlets beefing up their online platforms or developing new ones in the last year, or the quick proliferation of online food and grocery delivery companies and taxi services, then it should already be clear how dramatic a shift the pandemic has brought about in the way we do business.

eyes to the benefits of digitalisation, even among enterprises that had been sceptical of the benefits it could bring for their business or sector at the time.

Just as it acted as a catalyst for remote working and online meetings to transform office culture, COVID-19 has led to an explosion in the digital economy, with significant implications for businesses in all sectors.

“Before the pandemic, most businesses in Malta providing an online presence were those in an online-focused market, and those that could justify shifting away from physical interaction to online,” Dr Ellul says. “Big changes were already in play, but the pandemic accelerated the process by shifting many other businesses online, including those that were not considering it before.”

Of course, the digital economy is not a new concept, and Malta has seen steady growth in online business for years. But Joshua Ellul, Chairman of the Malta Digital Innovation Authority (MDIA), believes the pandemic opened many

Dr Ellul explains that the MDIA had taken measures to promote innovative solutions. These include the set-up of an award for innovative technologies in response to COVID-19, as well as the Technology Assurance Sandbox that allows start-ups and

DIGITAL ISLAND 2022 COVER STORY

The COVID-19 pandemic forced businesses across the board into a rapid shift to online operations. As many aspects of the new normal prevail, Jo Caruana speaks to regulators and businesses about this sudden acceleration of the digital economy, and what it means for both companies and consumers.

smaller operations to work towards giving assurances for stakeholders to help them onboard consumers and investors by lowering some inherent risks. “There’s definitely a large amount of the population that sees the benefit of digitalisation and will continue to both expect and work towards a digitally enabled future,” Dr Ellul continues. “Without a doubt, younger digital natives brought up in this world will also naturally verge towards digitalisation. However, there also are those that feel more comfortable in a less-digital world.” “While I believe that we will continue to make progress towards a more digitally connected future, it’s important that the less digitally inclined are not left behind,” he argues. “Similarly, it’s

important for those people that want to go back to a traditional way of doing things – especially those in leadership positions – to keep in mind that progress towards efficiency and a better standard of living should not be kept back solely because of unfamiliarity.” For Tech.mt CEO Dana Farrugia, the pandemic has transformed digitalisation from an option into a necessity. It’s spearheaded permanent changes in the way individuals live, the way the Government serves its citizens, and the manner in which businesses operate. As we emerge into the new reality, Ms Farrugia suggests the next 12-to-18 months will offer a chance for business leaders to plan how to adapt and strengthen resilience, while reframing their enterprise to be ready for the new value-based economy that lies beyond.

Big changes were already in play, but the pandemic accelerated the process by shifting many other businesses online, including those that were not considering it before. Joshua Ellul, MDIA

“Post COVID-19, your business will only hit the ground running if you have invested in the latest technologies to reach your customers fast and if your business has established a strong digital presence,” she says. “It is a path that would have been journeyed anyway but now the pace has to be accelerated substantially.” Throughout the year, Tech.mt has run campaigns aimed at helping companies move online, with guidance given on how to create online stores, as well as revamp operations to incorporate digital processes in deliveries, logistics and management systems. On top of that, the entity is offering support in setting up social media pages and websites, and providing insight on any funding opportunities available for digitalisation. “As the Government rolls out incentives to fight the effect of the COVID-19 pandemic on the economy, I encourage businesses to invest in digital assets that will help them become sustainable and future-proof,” Ms Farrugia continues. “Re-financing and business strategy modelling should not only include debt management or finance reallocation but should also drive an investment in digital solutions that will become valuable assets once the pandemic is over.” Businesses that have already taken steps towards digitalisation have seen this changing landscape first-hand. Marcette Fabri, Marketing Director at Franks, says the pandemic encouraged people who were previously scared or wary of buying online to get started, and made businesses aware of how important and essential a digital presence is. 18

PHOTO BY DARYL CAUCHI

DIGITAL ISLAND 2022 COVER STORY

Every brick-andmortar store should be complemented by an online presence. Marcette Fabri, Franks

Franks already had an online platform before the pandemic struck, but Ms Fabri says digital business surged drastically when COVID-19 restrictions kicked in, so the company allocated more human resources to the space to ensure a smooth transition. And, while some customers have since returned to shopping in-store, many have remained online or now use a mix of both, including Franks’ free click-and-collect service. “I firmly believe that any brick-and-mortar store should be complemented by an online presence,” Ms Fabri stresses. “With life’s fast pace, an ever-increasing agenda, and an uptick in traffic on our roads, no one has the extra time needed to dedicate to doing errands. Thus, purchasing from reputable local companies online provides the peace of mind that you are buying

qualitative goods and can speak to someone if something goes wrong, which is invaluable! That said, every online business must then ensure high quality of service, fast delivery and quick response times by treating online business as an important part of its strategic plan.” Stephen Xuereb, Operations Manager at The Atrium, agrees that digitalisation has been fast-tracked thanks to the pandemic. In fact, the impact was so significant that the company’s online sales spiked three years ahead of previous projections, with the company’s online platform becoming its ‘only lifeline’ during lockdown. “A crucial part of this process was to have a team on-hand to promptly reply to all messages received, as this gave customers the confidence to proceed with their purchase,” he says.

I encourage businesses to invest in digital assets that will help them become sustainable and future-proof. Dana Farrugia, Tech.mt

DIGITAL ISLAND 2022 COVER STORY

But, while online has been very successful for The Atrium recently, Mr Xuereb still believes most of their clients would prefer to shop in-store for major purchases like bedrooms or kitchens. “They want to physically experience the look and feel of the product,” he explains, “so I anticipate many customers will eventually return to conventional modes of shopping.” Nevertheless, Mr Xuereb still expects online sales to continue to increase, and says the company intends to keep building on its digital offering. “Home furnishing has evolved into being seasonal, with trends, colours and concepts changing regularly. All items are displayed as concepts in store; whereas, so far, online clients can only see every item individually. Thus, our next goal is to find a way of offering this ‘concept view’ on the website too, so customers can browse through complete set-ups rather than just individual pieces. We think it will make all the difference!” he adds. Meanwhile, one of the most visible online sectors during the pandemic was the food delivery niche. Wolt, which began its operations in Malta amid the restrictions, has seen significant growth in this space, with the online market picking up steam and customers quick to adapt, according to Dimitris Karelos, General Manager at Wolt for Greece, Cyprus and Malta. “We’re still a young business on the island and we can see that the popularity of ordering is on the up. Having said that, it’s very natural for us – as a new company – to grow organically month after month,” he shares. “The COVID-19 restrictions accelerated our development by three-to-four months based on the plan we had put in place. This means we would have

got to where we are now without the pandemic, just not as quickly! Nevertheless, it’s important to remember that the delivery industry has been growing year-on-year for the past decade now, so it’s not just the pandemic that has spurned this growth,” Mr Karelos says. “From my point of view, the online market was still in its early stages,” he continues, “and we knew Wolt could contribute significantly. It’s our goal to help people save time, so they can focus on the things that matter most to them – while the model enables additional sales for the businesses that partner with us and flexible earnings for our courier partners. It’s an example of how online business can be a win-win.”

Our next goal is to find a way of offering this ‘concept view’ on the website too, so customers can browse through complete set-ups rather than just individual pieces. We think it will make all the difference! Stephen Xuereb, Atrium

DIGITAL ISLAND 2022 COVER STORY

The COVID-19 restrictions accelerated our development by three-to-four months based on the plan we had put in place. We would have got to where we are now without the pandemic, just not as quickly! Dimitris Karelos, Wolt

And even where an online-only model may not be workable, businesses are seeing the benefits of increased digitalisation. Jonathan Shaw, Executive Chairman of Retail Marketing Ltd, which operates and owns all Welbee’s supermarkets, (recently rebranded from Valyou, Park Towers, Tower and Trolees supermarkets) says the increase in customer usage on the Group’s online platforms during the pandemic was immediate. As things return to normal, he expects most customers will continue to combine online and in-person shopping to some degree.

Mr Shaw argues that, given Malta’s small size and population, online business may not be solely sufficient to justify the logistical set-up and operational costs that come from running a business online. As a result, and speaking for the supermarket sector specifically, he believes both online and conventional modes of shopping will continue to be needed. “Yet, the more of your business can be conducted online, then the more likely you are to have the necessary clout to invest in state-of-the-art online platforms and enhanced logistical operations,” he adds. “And this is what will ensure your online business can be a success going forward.” Doubling down on that, Mr Shaw stresses online sales are no longer just a segment to be considered but an integral part of the company as a whole. “COVID has changed things forever. It has completely accelerated the way we operate and placed a bigger emphasis on the business of experience across multiple sectors,” he adds. “Online business is certainly here to stay.”

COVID has changed things forever by accelerating the way we operate. It has placed a bigger emphasis on the business of experience across multiple sectors. Jonathan Shaw, Welbee’s 21

DIGITAL ISLAND 2022 COVER STORY

MEET THE MINDS BEHIND LOCAL DIGITAL BUSINESS IDEAS

DIGITAL ISLAND 2022 COVER STORY

From investment platforms to wellness apps and 3D printing, Jo Caruana meets the minds behind five innovative digital business ideas born or based in Malta to discover how each is taking its industries by storm.

Malta has been steadily enhancing its reputation as a hub for digital innovation for a while now, all thanks to an array of investment opportunities and helpful incentives that make it easier to start and grow new businesses on the island. The draws of an English-speaking workforce and attractive lifestyle have also contributed to encouraging tech entrepreneurs to set up shop here, spearheading a growing start-up culture on an island that is already famed for getting things done.

STARTING UP IN MALTA Into this dynamic space have come a number of new digital business ideas that, following the adage that every company is now a tech company, are driving digital innovation in both expected and unexpected areas. These start-ups are hitting the ground running and showing significant potential for growth, despite the challenges imposed by the pandemic over the last year. One such company is AuBit Freeway, the first and only platform in the world where users watch as their investments grow from the redistribution of revenues, meaning 10 shares can become 11, then 12, and more. The company has had a phenomenal start to operations: within four months of the

A combination of 3D printing and product development provides a lean and agile solution to traditional problems. Alexandra Sciberras, Invent 3D

DIGITAL ISLAND 2022 COVER STORY

public release of its early Freeway Lite platform, it already has more than $15 million in assets under management, and has taken part ownership of a regulated EU brokerage with a 22-year track record. Founder and co-CEO Sadie Hutton explains that the initial idea behind the platform was to automate and redistribute fees on gold transactions to create the world’s first self-generating gold-yield product. But the team soon realised the idea could be applied to almost every financial product and asset. “In doing so, we hope to play a role in bringing about a better, smarter, fairer mutualised financial system that provides access for all,” she says. Working in a digital space, Ms Hutton explains, has allowed AuBit Freeway to scale much faster and at a lower cost than it otherwise could, already offering access to clients in more than 180 countries worldwide. While the company has a distributed workforce, she herself is based in Malta and is looking to hire more talent locally. “I love the fact that the Government here is working to create frameworks for those who want to get into the digital asset and blockchain space. Rather than shutting down that innovation, or avoiding it or leaving operators without certainty, the powers that be here have made it clear that they want to support innovation – and that allows businesses to gather some certainty on what they are doing,” she enthuses. Another company, Prickly Bits, is not only growing its own business but hoping to lay the groundwork for the next generation with its non-profit social impact project Fe/male Switch. The product incorporates an educational role-playing game to skill-up future female tech leaders and empower them to create resilient and innovative tech

Malta was an excellent launchpad. We’ve already tested our concept overseas at one of Italy’s most prominent universities and the results have been very promising. Zach Ciappara, Free Hour 24

DIGITAL ISLAND 2022 COVER STORY

start-ups. To achieve this, Prickly Bits is using an innovative and proprietary approach it calls ‘gamepreneurship’.

We hope to play a role in bringing about a better, smarter, fairer mutualised financial system that provides access for all. Sadie Hutton, AuBit

“By joining Fe/male Switch, women can truly understand whether they are ready to become the CEO of their company, whether they could benefit from becoming a start-up team member, or whether a start-up lifestyle is right for them at all,” Prickly Bits co-Founder and CEO Violetta Shishkina says. Ms Shishkina is certainly no stranger to the space. While building on Fe/male Switch, as well as another project the company runs – Secret.Kiwi, which is aimed at helping different industries protect their IP and trade secrets – Prickly Bits secured funding in December 2020 and has grown from four to 25 employees since. For the most part they now work remotely with an international team, but they have also relocated some staff to new offices in Malta. Comparing the start-up ecosystem in Malta to the Netherlands, where her other company CADChain is based, Ms Shishkina says there are a lot of benefits – but also essential things missing. “We are aware that Malta, like the Netherlands, faces a shortage of technical talent and there’s a lack of women in start-ups and IT,” she says. “However, Malta is making it easier to relocate our team members from other countries (especially non-EU) to our Malta location. Moreover, Malta Enterprise has been of immense help from the very beginning, and we really felt welcome from day one.” It is not only traditionally tech-oriented businesses that are surging into this digital space. The health and well-being industry may be more often associated with a physical presence but, for Jamie

North, CEO and co-Founder of holistic wellness company Few, the advantages of a digital platform have been huge. Few provides sessions that encourage users to work on their physical, mental and spiritual health, while providing solutions to practitioners looking to find new clients, manage bookings and payments, and grow their business digitally. “There are lots of advantages for practitioners – they get to be associated with a recognised brand, are given 20 per cent of their time back through automation, and can get in front of more clients than ever while scaling effectively,” Mr North says. “Few helps practitioners to become digital nomads and work from anywhere in the world – right from their phone.” Clearly, Mr North’s is an idea that has traction. The app recently raised €250,000 in funding from Malta Enterprise and other investors, and launched a corporate offering to allow employers to provide full coverage to all of their employees. Future plans include targeting users with smarter adoption, loyalty schemes and intuitive interaction. Although it’s early days with a long way to go, Mr North says he and his team are delighted by how far 25

DIGITAL ISLAND 2022 COVER STORY

We’re using Malta as our sandbox and expect to hit numerous international markets next year. Jamie North, Few

they’ve come. “Initially we went live with a booking and payments platform, which was managed in-house. Now we have a full end-to-end practitioner-enabled platform, along with a SaaS model for those practitioners who need software to run their gym, practice, or studio. We’re using Malta as our sandbox, and expect to hit numerous international markets next year.” Meanwhile, like with all sectors in business, sometimes it’s the simplest ideas that are the most effective – and the digital space is no different. FreeHour Founder and CEO Zach Ciappara, now 22, started his company when, as a sixth form student, he realised there was no easy way for friends to find which empty slots in their timetable they had in common. “A straightforward app that solves this recurring problem was a no-brainer. It took months of hard work and a lot of doubt at times, but we launched in March 2017 and grew quickly,” Mr Ciappara says. When the pandemic struck, the company had to shift gears, expanding into the content space with a specific focus on the student and youth demographic. The success Free Hour found here has allowed the company to build a team of 17 and move into new offices, with further growth planned. “The response has been incredible from both consumers and businesses. So, although we might have seen COVID as a threat initially, it’s since proven to be a brilliant opportunity,” Mr Ciappara continues. “We’ve grown from 4,000 followers on Instagram to almost 40,000, with an average of 3,500,000 impressions per week. Now our app continues to attract thousands of regular users, and we expect that trajectory to continue now that schools are returning to in-person learning.” 26

Global expansion is also on the cards. “We launched in Malta since it’s the market we know and understand thanks to our own personal experiences,” the Founder says. “Plus, the fact it’s a smaller country gave our community-based approach more validity, which allowed us to grow faster than most would have expected. However, we’ve already tested our concept overseas at one of Italy’s most prominent universities and the results have been very promising.” Meanwhile, for Invent 3D co-Founder and COO Alexandra Sciberras, it was an idea that started as a simple hobby that led to business success. Ms Sciberras and her husband David bought their first 3D printer as something to tinker on in the living room, but quickly spotted a knowledge gap in the market. Their first printer led to several others and, today, 150 printers take up their 500sqm factory.

DIGITAL ISLAND 2022 COVER STORY

“Traditional manufacturing has low product turnaround speed, limited flexibility, lacks innovation and is very expensive,” Ms Sciberras explains. “So, by using a combination of 3D printing and product development, we offer a lean and agile solution to these problems. The result can be churned out quickly and catered to clients’ specific needs, all at a significantly lower cost.” Invent 3D’s technology was put to the test at the start of the pandemic when, amid a shortage of Personal Protective Equipment, they liaised with Mater Dei Hospital’s Infection Control Unit to manufacture and donate 10,000 face shields to various healthcare services. Similarly they retrofitted respirators from the Ebola era with COVIDcompatible filtration at a speed that would have been impossible to accomplish with any other manufacturing process.

Buoyed by that success, the company has grown substantially, selling via online platforms to businesses and individuals worldwide. The team is now considering further growth, both in terms of scale and technological capability. “We wrote the business plan for Invent 3D at Mater Dei Hospital in the small hours of the morning after the birth of our second child. As we’ve grown and nurtured our company to the potential it has today, it really does feel like another member of our family. It’s been fantastic to witness the potential that this sort of innovation has in the business world today, and we can’t wait to see where it will take us,” Ms Sciberras adds.

There’s a lack of women in start-ups and IT – and we hope to change that. Violetta Shishkina, Fe/male Switch

DIGITAL ISLAND 2022 TECH

MDIA:

A PILLAR OF MALTA’S DIGITALISATION PROGRAMME With a view toward making Malta the centre for excellence for technological innovation, the Malta Digital Innovation Authority has undertaken many firsts, including being the first ever Authority which certifies technology. Its Chief Operations Officer Francois Piccione shares some of its milestones with Sarah Muscat Azzopardi as well as its ambitious plans for Malta’s digital start-ups and SMEs.

DIGITAL ISLAND 2022 TECH

Upon being appointed Chief Operations Officer of the Malta Digital Innovation Authority (MDIA) last February, Francois Piccione hit the ground running. His immediate focus was on strengthening internal structures and exploring new ventures, in order for the Authority, which he describes as “still quite new, yet willing to grow”, to keep abreast with new technologies and policies being discussed at EU level. “My role as Chief Operations Officer is to ensure that the Authority runs smoothly,” he explains, noting that various departments fall under his remit, including Procurement, People, Finances, Marketing and Business Development. The role also calls for Mr Piccione to ensure that the Authority is able to continuously adapt to new aspects and strategies. Having previously held the role of Executive Secretary of the Malta Blockchain Taskforce, formed part of the Malta.AI Taskforce and represented Malta in several meetings related to the digital economy, Mr Piccione affirms that “thanks to the experience I managed to garner, I am well-positioned to provide strategic advice in terms of digital strategy, which will ultimately lead to a better holistic approach in Malta.”

Malta is a leader in this sector, with a regulatory framework and an Authority that certifies technology.

At its core, the Malta Digital Innovation Authority is there to certify and ensure that the technological product is fit-for-purpose, in so doing, ensuring trustworthy innovative technology arrangements for users. At its inception in 2018, Mr Piccione highlights that the MDIA was the first Authority of its kind in the world. “Malta is a leader in this sector, with a regulatory framework and an Authority that certifies technology. Three years down the line, we are seeing the European Union, through the proposed AI Regulations, proposing the setting up of a digital authority to certify such technologies,” he maintains. Pointing to another feather in its cap, the COO continues, “back in 2019, the Authority was endowed with overseeing the implementation of the national AI strategy. This led to MDIA implementing various 31

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deliverables such as an AI-focused scholarship fund, schemes for research related to it, the implementation of AI pilot projects, and so on.” Elucidating on some of the tangible ways the MDIA has helped Malta’s digital start-ups and SMEs over the years, Mr Piccione says that initially, it was mainly a question of discussing which standards should be implemented to build trust and ensure user protection. However, now, through various incentives taken on by the MDIA itself as well as through the widening of its remit, the Authority provides hands-on assistance to digital startups and SMEs in building their products. Here he refers to the Technology Assurance Sandbox, where “guidance is provided through a safe environment and measured against a set of control objectives which specifically address the technology at hand. This will provide the developer a gradual build-up of the product in line with established standards.” One cannot discuss the digital landscape without making reference to COVID-19, which has had profound effects on businesses across industries, forcing companies to look into creative digital solutions in order to function remotely. Discussing the primary ways in which the pandemic has impacted Malta’s businesses, Mr Piccione says that businesses had to adapt quickly. “While the shift to digital platforms was always possible prior to COVID-19, the pandemic caused businesses to remedy themselves in a short period of time to remain competitive and to stay in operation. Businesses raced against time to implement a technological system which could accommodate their needs,” he maintains, adding that this also raised some concerns among the end-users. “Having a digital platform was comfortable, but was it possible that the end-users were in some way or another affected negatively? Were there some businesses which didn’t have the expertise to explore the digital world?” he posits. “We are now seeing a change in how people are doing business. We are foreseeing that the public will continue to use online platforms to buy things post-pandemic. Thus, as an Authority we need to ensure that no business is left behind,” Mr Piccione determines.

Revealing how the MDIA aids local start-ups and SMEs in this regard, the COO highlights an award launched by the Authority, for innovative technologies in response to COVID-19. “It was aimed at encouraging the fast deployment of innovative technology to address the COVID-19 societal challenge, and which can also be used in similar future scenarios,” he says, explaining that the award was sparked by the fact that the coronavirus caught the world off-guard, rendering it unable to stop the spread due to a lack of global countermeasures. “The immediacy of the threat meant that the response deployed needed to be fast and effective,” Mr Piccione affirms.

While the shift to digital platforms was always possible prior to COVID-19, the pandemic caused businesses to remedy themselves in a short period of time to remain competitive and to stay in operation. 32

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Moreover, given the fact that the pandemic also affected the financial aspect, he continues, “digital start-ups and SMEs are now being offered the possibility of being guided in the build-up of their products through the Technology Assurance Sandbox at a highly reduced rate. It is an initiative which prepares the product to be in line with established standards and gives a competitive edge.”

The European Union is now recommending the adoption of a sandbox utility, proving again Malta’s innovative foresight in this aspect.

Expanding on the world’s first Technology Assurance Sandbox, which was launched in Malta in May 2021, Mr Piccione explains that it is aimed at offering a safe environment where digital start-ups can develop their solutions according to recognised standards. “The idea is that start-ups have a final quality product which protects the customer. Solution owners will be guided through a two-year residency through which their product is aligned with internationally established standards of Control Objectives in a gradual manner, which will ultimately lead the way to apply for full certification,” he notes. “Through this initiative, we want to enhance and strengthen the local digital product. On one hand you have the service provider who can sell with ease of mind a product which works as it should. On the other hand, there is the investor and user, who is investing or buying a product which was already scrutinised against high levels of standards recognised on a European and international level,” the COO continues, pointing out that this is in line with the fact that the digital market is a very competitive one that expects nothing but the best quality and efficiency, and which allows no room for error. “One must also mention that the European Union is now recommending the adoption of a sandbox utility, proving again Malta’s innovative foresight in this aspect,” he adds.

Delving further into the MDIA’s recent work, the COO refers to the Pathfinder MDIA Digital Scholarship launched in June 2021, which is intended to support students in postgraduate degrees that are either focused on or contain an element of AI. “Funding amounted to €100,000, whereby each student was entitled to a maximum of €10,000 over the duration of their course. A further €20,000 were confirmed, bringing the total amount of funding to €120,000,” he maintains, explaining that the Digital Scholarship covered tuition fees and bench fees, together with a study allowance for fulltime awarded applicants. “Its aim was to ensure that Malta is equipped with skilled human resources and to further ensure that team leaders and R&D staff are exposed to cutting-edge techniques through Master’s and PhD programmes,” Mr Piccione continues. In recent months, the MDIA also contributed to research projects being held under the auspices of the University of Malta, with funding amounting to more than €160,000 and targeted toward three projects aimed at using AI in everyday life. Elaborating on these, the COO explains, “through the Speech Processing project, researchers are given the necessary tools to create software by which systems understand the spoken Maltese language and process it. On the other hand, the Text Processing project will permit researchers to strengthen their technical tools so that the written Maltese language is understood and processed by systems. The third project is Edu.AI, which seeks to implement AI as an assistive tool in education.” Turning his sights to the future, Mr Piccione says that the Malta Digital Innovation Authority is continuously working on being part of Malta’s digitalisation programme. “Not only is the Authority the first of its kind in certifying technology but it was also the first to launch the Technology Assurance Sandbox,” he affirms, linking this with the Authority’s upcoming project which will focus on providing the necessary tools to bring digital ideas to fruition, as well as its new Technology Assurance Assessment Framework, which will allow the Authority to offer various products aimed for different types of business, be it a start-up or a well-established company. “Moreover, we remain committed to assisting the Government of the day on any issues related to technology,” he concludes. 33

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REGULATING FOR A

DIGITAL COMMUNICATIONS TRANSFORMATION The Malta Communications Authority has established itself as a dynamic and responsive regulator in the field. Here, CEO Jesmond Bugeja and other key team members tell Digital Island how the MCA is working, locally and internationally, to spearhead digital innovation in the years ahead. 34

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We cannot ignore the fact that digital technologies transcend national borders. Global dialogue and international cooperation are necessary to address new challenges and propel new endeavours. Jesmond Bugeja

As the body responsible for regulating the communications sector in Malta – including electronic communications, postal services, and eCommerce – the Malta Communications Authority (MCA) has built a commendable reputation over the past 20 years as an independent and forward-looking regulator. The MCA is tasked by the Government with implementing rules associated with communication technologies. In fact, the Authority participates in various international fora, both as an independent national regulatory authority and on behalf of the Maltese Government. This activity involves participating in ongoing discussions and the drafting of new policies, as well as contributing its own expert input in an effort to help shape the broader international agenda for the various communications industries. It’s a strategy that’s thriving. Engagement at an international level has enabled the MCA to foster robust and responsive regulatory regimes while staying ahead of new and emerging technologies that impact the communications industry. MCA CEO Jesmond Bugeja explains that working closely within the international community on transboundary issues impacting the digital ecosystem gives the Authority a stronger foothold in facing today’s digital transformation. “By being part of the international discourse, the MCA is able to formulate local regulatory frameworks that efficiently address the complexities and opportunities brought about by new and evolving technologies,” Mr Bugeja says. “Most importantly, we cannot ignore the fact that digital technologies transcend national borders. In other words, global dialogue and international cooperation are necessary to address new challenges and propel new endeavours.”

In October 2020, Mr Bugeja was elected as Vice-Chair for 2021 within the Body of European Regulators for Electronic Communications (BEREC), which is responsible for the effective implementation of electronic communications regulation across the EU. This notable development marked the first time the MCA would be forming part of the BEREC’s esteemed leadership team. Meanwhile, several other MCA officials also currently occupy highly respected positions across international bodies responsible for the electronic communications and postal sectors. This marks a sign of trust in the regulatory work that the Authority is doing, both in the national and the international spheres. Ivan Bugeja, Senior Manager within the MCA’s External Relations Unit, explains that the role of the Unit 35

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These rules tend to be updated over time and are, most often, initially instigated to promote competition in the market and ensure user protection. Ivan Bugeja

is to ensure that Malta’s vision on various matters is presented and taken on board during discussions at European and international levels. The laws and rules Malta implements as a country are those which the MCA negotiates and agrees within the EU and at an international level within communications bodies such as the International Telecommunications Union (ITU) and the Universal Postal Union (UPU). “These rules tend to be updated over time and are, most often, initially instigated to promote competition in the market and ensure user protection,” Mr Bugeja says. “Once a competitive environment is established,

a lighter approach towards regulation is then taken. Increasingly, we are seeing an emphasis on greater choice, added value and secure infrastructures for end-users in the discussions shaping international communications policy.” Market and regulatory dynamics are changing at a faster pace than ever, Mr Bugeja adds, with unrelenting growth in digitalisation, connectivity, and usage. “In light of this, the MCA continuously invests in its External Relations Unit to enhance our expert knowledge base. Following our involvement in the discussion and then adoption of the updated rules related to electronic communication infrastructure and services, the team is

As part of the MCA’s external relations arm, we carry out a daily analysis of important dossiers being discussed at an EU level and identify areas that need to be addressed. Kersten Calleja 36

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now heavily involved in areas related to digital markets and services currently being discussed in Europe,” he says.

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MCA External Relations Analyst Kersten Calleja adds: “as part of the MCA’s external relations arm, we carry out a daily analysis of important dossiers being discussed at an EU level and identify areas that need to be addressed. This not only contributes to the fulfilment of the Authority’s regulatory tasks but allows us to gain a deeper understanding of how digital connectivity is shaping and transforming every stratum of society.” Among the milestone initiatives the MCA has been involved in has been the adoption of the European Electronic Communications Code (EECC) and its full transposition into Maltese law. The Authority provided regular guidance and support to the Government in the adoption of this Code, which is key for the realisation of a digital single market in Europe.

Keeping our legal and regulatory framework up to pace with fast-changing developments ensures that the economy and society continually benefit. The European Commission is also in the process of overhauling the current eCommerce legislation dating back to the year 2000 as part of the Digital Services Act (DSA) package. The DSA – planned for adoption in 2022 – will be key to creating a safer digital space for all EU citizens, while fostering innovation, growth, and competitiveness within a harmonised single market. Following the publication of the first draft of the Digital Services Act Package in December 2020, the MCA’s External Relations Unit now continues to participate in EU debate and discussions shaping this much-anticipated legislation. The MCA is also expecting an upheaval of the current European postal services legislation that needs to be addressed to take better stock of

Ilana Seychell

the changing postal markets and, in particular, the exponential growth of eCommerce in recent years. The ever-increasing shift towards the digital world has inevitably instigated challenges for the postal sector, namely when it comes to acceleration in the electronic substitution of physical mail. MCA External Relations Officer Ilana Seychell, who is actively involved within international bodies related to postal sector regulation, stresses that it is crucial 37

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We strive to ensure that the EU’s telecommunications and digitalisation policies provide a higher level of protection and service to Maltese citizens. Claire Bezzina

“This is where the MCA’s involvement in international fora really comes in,” Ms Seychell says. “By engaging within bodies such as the European Regulators Group for Postal Services (ERGP) and the Universal Postal Union (UPU), we exchange insights in the field with other national regulatory authorities and the needs of the local Maltese market are considered within the broader international agenda. Without a doubt, international cooperation and engagement will become even more essential in ensuring the sustainable development of the postal sector.” “Communications regulation must be agile and prepared for market developments and end-user needs so it can adapt accordingly,” Ms Seychell explains, “so keeping our legal and regulatory framework up to pace with fast-changing developments ensures that the economy and society continually benefit.” MCA External Relations Analyst, Claire Bezzina, adds: “as the External Relations Unit, we strive to ensure that the EU’s telecommunications and digitalisation policies provide a higher level of protection and service to Maltese citizens. Working at the forefront of the EU bodies allows us to leverage digital technologies for the benefit of modern societies.” In summation, it’s clear that by cooperating and participating within the international arena, the MCA has been able to derive and apply indispensable knowledge to the local regulatory scenario. Indeed, Malta has continually set itself apart as a leader among European states with regards to connectivity. The MCA has now set its sights on further spearheading digital innovation and investment both within Malta, as well as beyond our islands’ borders as the Authority aspires towards digital regional harmony.

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for the postal sector to adapt to technological developments, eCommerce growth and changes in consumer trends.

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LOCAL START-UPS MAKING WAVES

The digital revolution is blurring borders and enabling Maltese start-ups to make an international impression. Dean Muscat investigates five leading lights in the local start-up scene to discuss innovation, growth, and exploiting gaps in the market. 42

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Whichever way you slice it, 2021 has been a phenomenal year for Maltese tech companies on the world stage. Not one, but two homegrown digital giants have gone on to be acquired by multinationals of note over the past months. Back in January, developer of computer backup solutions Altaro was bought by Hornetsecurity, a cloud security specialist headquartered in Germany that operates in over 30 countries. Fast-forward to September and news broke that Hotjar – hailed as the leading product experience insights platform in the SMB market – was acquired by Paris-based Contentsquare that counts heavyweight brands such as Walmart, Microsoft, T-Mobile, and BMW as clients. Incredible success stories for the respective companies aside, these achievements continue to place Malta firmly on the map as a country to be reckoned with in the digital products and services space. Better news yet, Malta only seems to be getting started. The last few years alone have seen a slew of plucky digital startups pop up across the island, all making strides within cuttingedge industries such as Artificial Intelligence, machine learning, cryptocurrency, FinTech, and more besides. Malta has been quick off the mark to embrace AI, even going as far as to launch a national AI strategy for the island to become a global leader in the field. And one local AI start-up that has fast made a name for itself is EBO.

Gege Gatt, EBO

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Founded in 2017 by Gege Gatt, EBO set out to address a known gap in the market: that of automating human communication at scale to improve customer care services. The EBO system combines the powerful tools of deep learning, natural language processing, and data analytics to collect and interpret conversational big data. The result is an ultra-advanced chatbot that helps businesses personalise and streamline online dialogues with their customers, thereby providing an innovative and cost-effective alternative to timeconsuming traditional customer service models. In a few short years, EBO has grown into a leading AI Virtual Agent company in the market with a team that spans six countries and brings together some of the brightest minds in the digital field with deep experience in healthcare, iGaming, and financial services. “EBO doesn’t merely sell AI technology, it provides a promise around deep organisational transformation,” explains Dr Gatt on EBO’s commitment to clients. “However, if people lack the appropriate mindset to change work practices, digital arrangements

will simply magnify the existing flaws. That’s why we work closely with our clients to help them accelerate their transformation through the vector of technology. This has been our consistent founding goal.” Another company that has been developing innovative solutions to help businesses create meaningful conversations online is Evowk. This game-changing virtual conferencing and networking platform was designed to translate the real-world expo and conference experience into the digital realm through beautiful 3D visuals and innovative features that offer reams of customisation. Each of Evowk’s digital spaces – including fully-functional event lobbies, auditoriums, and networking lounges – can be endlessly personalised, with exhibition stalls capable of displaying a range of marketing media, such as moving graphics and videos. The brainchild of a team boasting years of experience in large-scale event management and conferences, Evowk was a direct response to the emergence of

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the COVID-19 pandemic, which effectively imposed a new normality to in-person events overnight. “Extensive research and numerous competitor demos showed us that great technology is available, but there was a need to bridge the gap to offer the personal support and flexibility required to transmit complex conferences and events,” explains David Spiteri, General Manager of Evowk. “Client expectations made us step out of our comfort zone, find the right partners, and re-skill to now be in a position where we are fully flexible to offer our clients live, virtual, and hybrid event solutions.” Evowk officially hosted its first successful corporate event in December 2020, and has since offered its services to international clients and local businesses. The team has plans to introduce further upgrades and unique features soon. Having labelled itself the ‘blockchain island’, Malta continues to position itself as one of the world’s leading cryptocurrency-friendly jurisdictions, welcoming many international blockchain and crypto companies to its shores. However, while alt-coin

Gregory Klumov, STASIS

entrepreneurs scrambling to replicate the dizzying success of Bitcoin have been ten a penny, few have sought to truly innovate on virtual currencies and offer something different. Enter STASIS, a Malta-based start-up that is combining the vast potential of the cryptocurrency market with the stability and reliability of traditional currencies through tokenization, a process of representing real-world assets on the blockchain. “Since 2017, more than 200 teams worldwide have announced developments of cryptocurrency projects backed by assets, such as fiat currencies or precious metals, to put volatility factors out of the equation. Still, as of the date, very few projects have delivered a working product,” explains Gregory Klumov, CEO and Founder of STASIS. “Our team’s track record, expertise, and full-scale market research became the right combination that helped us launch a leading tokenization platform.”

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Locally, FinTech start-up Fyorin has made it its modus operandi to disrupt the status quo and build a Business Banking Network Scheme (BBNS) that connects financial and non-financial providers into a single global network. Members on the network can leverage the capabilities of other parties to enhance their core offering to their corporate clients, enabling them to bring to market better and faster business banking capabilities without any risk exposure. James Camilleri, Fyorin

Mr Klumov believes that being based in Malta and establishing a trusted partnership with the top auditing firm BDO has helped STASIS gain a greater foothold in the crypto market. STASIS EURS – the company’s own stablecoin – currently stands as the largest non-USD digital asset on the market. Having launched from a European Union member state, STASIS now serves as a bridge between decentralised finance and the off-chain market within the EU. The Maltese Government even invited the STASIS team to act as a consultant to shape the MFSA’s Virtual Financial Assets Framework, which supports innovations and new technologies for financial services in the area of crypto assets. “Malta has become an EU-leading hub that embraces digital innovations. We’ve been happy to launch the most transparent stablecoin from this country,” Mr Klumov adds. The advent of cryptocurrencies has inspired a tandem boom in the FinTech sector, with a range of digital start-ups developing innovative products which are transforming how businesses and individuals conduct their banking online.

The platform was born out of the frustration its founders experienced whilst working on scaling international businesses globally across various industries. They constantly met with unnecessary hurdles that slowed the process down to a crawl. This is largely because the banking and payments market is very fragmented. Worse yet, it’s becoming increasingly difficult for any business to navigate its ongoing complexities. “Opening an account with local banks takes a minimum of three months, which of course is slowing things down for businesses – making business banking expensive. On top of that, there is a lack of financial tools that support the digital needs of businesses today, for instance having flexible virtual corporate cards or being able to seamlessly send and receive payments in different currencies like a local,” explains James Camilleri, Co-Founder and CEO at Fyorin. With all this in mind, Fyorin was launched to simplify banking for businesses, particularly for SMEs. Through its global network, Fyorin can support SMEs with all their business banking needs. From swiftly opening a business account in 40-plus different currencies to online payments acceptance and the easy issuing of virtual cards to cover corporate expenses, Fyorin enables all this and more through one easy-to-use platform.

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By creating in-roads between various financial institutions across the world, Fyorin’s BBNS is also serving small banks within Europe looking to offer a better and more holistic solution to their corporate clients. Having successfully launched Fyorin in the local market, the FinTech start-up is now looking to roll out its product across Europe. FinTech, AI, and blockchain can all feel like lofty, worthwhile start-up pursuits at the frontiers of innovation. But sometimes the most ingenious solutions arise from the simplest of needs. Take FreeHour, a locally developed mobile app designed for university and college students to share their timetables with friends and find out who’s free for a meet-up on campus. Launched in 2017, the app has been an unmitigated success, with 25,000 users to date and new addons including student event calendars, graduate job notifications, and sponsored offers, to name a few.

The fact that most local businesses were not catering to the student demographic was another factor that boosted the FreeHour brand faster than most would have expected. And the lessons they’ve learned from the local market have served Mr Ciappara and his team well. They have already successfully launched the app in Rome and are now looking to take the app to new international markets. “We love it when local start-ups like Hotjar and Altaro make it internationally, as this is our own goal too. They have reaffirmed that when it comes to digital product offerings, international expansion while being based in Malta is something that is very tangible and possible,” he concludes. Glass ceilings unequivocally shattered, the sky’s the limit for Malta’s new wave of promising digital start-ups.

“This all started back when I was 17, attending sixth-form. I was walking out of a lecture one day and found myself extremely frustrated as I only had one hour of time to myself and was wasting half of it trying to figure out who of my friends was available to meet,” explains Zach Ciappara, Founder and CEO of Free Hour, who began developing the hit app when he was only 18. “Even at the time, this was not a new problem, however FreeHour was, and still remains, the only solution for students. By solving a problem students face multiple times a day, we were able to really hit the ground running.”

Zach Ciappara, FreeHour

DIGITAL ISLAND 2022 INTERVIEW

MEET GLOBIANCE’S

OLIVER MARCO LA ROSA The Globiance Crypto Payment Gateway enables merchants to accept crypto payments with lower fees and instant settlements, while removing rolling reserve and chargeback risks. Much of Globiance’s popularity is attributed to its coFounders, couple Irina La Rosa and Oliver Marco La Rosa. Together with the other co-founding shareholders they have worked hard to grow Globiance to the stature it enjoys today. Here, Digital Island meets Mr La Rosa, Globiance’s CEO, to gain his insight into how the company supports the iGaming sector, and so much more.

DIGITAL ISLAND 2022 INTERVIEW

Globiance is a fusion between a bank and cryptocurrency exchange. It allows clients to keep their cryptocurrency and fiat money secure on the same platform, so they can easily convert between them.

Globiance has made waves in the financial services industry with its state-of-the-art services and infrastructure that consist of numerous cryptocurrency exchanges and financial organisations located all over the world, including in Argentina, Brazil, Australia, Singapore, Estonia, and many others. In a short time, Globiance has acquired a significant customer base that comprises clients from the corporate and retail sectors. The firm also manages the trading and exchanges between cryptocurrencies like XDC, GBEX, Bitcoin, Ethereum, and fiat currencies such as the US Dollar, Singaporean Dollar, Euro, Hong Kong Dollar, Pound, and many others. It has created a seamless platform for secure and rapid money transfers across the globe. Mr La Rosa, what can you share about your background? I started my career as a systems administrator. I founded my first company, ServerArena, to rent out game servers to clans before the term ‘esports’ was really known. I then founded my next company and took on CitiBank in Frankfurt as our most important client. We worked with them for eight years and proudly handled all of their production and network support, 24/7. We then moved our headquarters to Malta and went on servicing banks, in seven European countries, for another five years.

It was in 2018 that the idea for Globiance was born. With my wife, Irina, and our small shareholder team, we founded the project with the goal of building a fusion of bank and cryptocurrency exchanges. We’ve come a long way since then. We opened our first licensed exchange in Estonia (Europe) in 2019 and, by the end of 2021, already have over nine legally operating platforms launched across the globe, including in the USA and Canada. How would you describe Globiance? Globiance is a fusion between a bank and cryptocurrency exchange. It allows clients to keep their cryptocurrency and fiat money secure on the same platform, so they can easily convert between them. Not only does it provide users with a secure and stable platform, but it also ensures that they can experience faster transactions, lower fees, and discounted fees when using the GBEX tokens. And what can you tell us about GBEX? Well, in August we created our own token called GBEX, which is based on the XDC (XinFin Network). It’s a revolutionary (third-generation) protocol that features more transactions per second, lower fees, lower transaction confirmation time, less energy consumption, and smart contract support.

DIGITAL ISLAND 2022 INTERVIEW

GBEX is Globiance’s house token and it will be used daily on the Globiance Global platforms, as well as in the Crypto Payment Gateway. On Globiance platforms, trading fees will be discounted when using GBEX. For the first time, an exchange token has been designed in a deflationary way. This tax-and-burn model collects a four per cent tax on each transaction, with two per cent burned and the other two per cent distributed among the other holders. This means the supply is decreased daily, while the holders are rewarded with more tokens. On top of that, we have scheduled huge burn events that will decrease the supply by 60 per cent over the next two years. What else is new at Globiance? Lots! We just updated our UI platform completely. We added many languages and launched our new app for a better mobile experience. Globiance DEX is also being released in November and will be the first decentralised exchange based on the XDC (XinFin Network). We have also built a rapid XDC token deployment system for our exchange, which enables us to become the launchpad for all XDC based tokens. Did you face any hurdles when starting the company? Of course! I believe there is no start-up that can operate smoothly, especially during its formative years. When we had just launched the company, the cryptocurrency market was badly hit and people said the bubble had burst. This prevented us from raising the capital we needed to launch our operations from the ground. Nevertheless, we kept going and built the platform ourselves, without any external support or investment. We even had to manage the operational costs on our

own. But we got our cryptocurrency exchange licence in mid-2019, and this was when we managed to generate a small revenue. By 2020, we finally managed to run the business without having to pool in our resources. This time of hardship was however eventually rewarding because, today, Globiance is globally recognised in the financial services and cryptocurrency sector, and it is also a key member of blockchain and gaming conferences worldwide. Currently, the biggest challenge we face is that of regulation. Since we are a global company with a goal to penetrate as many markets as possible, we have to strive to comply with the regulations and laws of each region. So, we work with regulators around the world to obtain licences so that we can serve everyone on this planet. What does the future hold for Globiance? Right now, we are working hard to launch GlobianceBank, which will revolutionise the banking and cryptocurrency industry. It will provide clients with all the features and convenience that you get from a digital bank, and integrate our crypto exchange. Additionally, clients will be able to trade securities and security tokens. We will offer new DeFi products too. Then, in 2022, we will continue with our global expansion and establish ourselves in all important markets. We also plan to list more fiat and crypto currencies as we develop. We are constantly in touch with our user community and, thanks to their valuable feedback, have further improved our platforms to provide the best possible experience. We now regularly plan new features based on our user demands. Stay tuned for some more exciting new projects from Globiance in the years to come!

We opened our first licensed exchange in Estonia (Europe) in 2019 and, by the end of 2021, already have over nine legally operating platforms launched across the globe, including in the USA and Canada. 54

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In 2022, we will continue with our global expansion and establish ourselves in all important markets. We also plan to list more fiat and crypto currencies as we develop.

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BOOSTING MALTA’S DIGITAL ECOSYSTEM In recent years, Malta has successfully positioned itself as a technology hub of choice. Malta’s remarkable success in the digital economy is a result of the country’s fast adaptation to developing technology. For more than a year, the worldwide epidemic has wreaked havoc, yet Malta has proven to be extremely robust to the numerous economic shocks that have resulted on a global level. The technology and innovation sectors are rapidly changing. Thus, any tech hub is required to not only adapt to these changes but challenge them. This is what Malta has been doing during these past years. During turbulent global periods, as envisaged, the eurozone economy contracted by 0.3 per cent between the last quarter of 2020 and the first quarter of 2021. However, Eurostat reports that the Maltese economy expanded by 1.9 per cent. Information Technology activities have contributed to an increase in Gross ValueAdded, which rose by 13.8 per cent in nominal terms during the second quarter of 2021 when compared to the same quarter in 2020. Malta’s technology sector has seen the fastest growth in productivity over the last decade, 56

attributed to the sector’s strong foundations and Malta’s attractiveness, which includes a skilled workforce, strong education institutions, a robust telecommunications infrastructure, and various incentives that continue to strengthen Malta’s distinctiveness. Since the establishment of Tech.mt in 2019, the Maltese Government has injected an investment of over €3 million in the entity to position Malta as the global technology hub of excellence. In this regard, Tech.mt’s strategy over the past two years has been focused on promoting the country for its dynamic and thriving technology sector. Indeed, our commitment has been to position Malta as the epicentre on both a quality and creative level, having a forward-thinking approach, with an inviting and supportive infrastructure. Besides increasing the value of the ICT industry in Malta, this also positions the country as an attractive working destination within the European tech industry, thus attracting potential investment. Moreover, we strive to understand the current position of technology companies and startups, and the type of assistance they may require to expand their potential. Tech.mt has been strongly proactive in assisting businesses

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Dana Farrugia, Tech.mt CEO

to apply for the right grants and incentives offered by local entities and in advising a clear direction towards their growth.Tech.mt has also made sure that certain grants and funding schemes are redimensioned to ensure that these also cater for the local tech sector. Tech.mt has also been investing its time and resources in promoting Malta with specific foreign universities, as well as partnering up with local education institutions to improve the influx of professionals in the market and meet the industry demand. With the overarching responsibility of representing the technology sector in Malta, Tech.mt has persisted in remaining in contact with its members and representations in the wake of COVID-19. In fact, the number of one-to-one meetings with its members

during the first three quarters of 2021 increased twofold. This is a testimony of Tech.mt’s obligations and responsibility to maintain contact with the sector it was mandated to represent and continue nurturing an environment of growth and collaboration. Consequently, this has enabled a virtuous circle of trust among various stakeholders, from Government and interlinking entities to the business community. The Malta Competitiveness report (2020) posits that a stronger commitment to a digital economy leads to higher levels of economic production and efficiency. Tech.mt aims to make sure that the Maltese technology sector remains prosperous and growing. Tech.mt also seeks to take the lead in addressing contemporary tech company demands and challenges, and leveraging them into 57

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opportunities. By taking a proactive approach, we are constantly looking for new ways to put our knowledge and experience to work for Maltese companies and also to attract foreign direct investment. As a result, Malta’s tech industry will continue to expand and prosper. A proactive reach out to businesses operating within the sector was held during 2021, reaching over 190 companies and relevant stakeholders during the past months. The main recipients were local tech players from the private sector, other Governmental entities, foreign investment offices, trade promotion organisations, and businesses operating in other sectors but with the ambition to implement digital solutions. The drive to further consolidate communication with the industry was a calculated exercise to ensure that different segments were reached, from the large players to the small and medium enterprises, and the start-up community. With assistance being one of its key objectives, Tech.mt has pledged its expertise and resources to aid all types of businesses through mentoring in terms of road mapping and validation, networking and facilitating connections, access to funding opportunities, participation in international events, and supporting start-ups through accelerator programmes. Through industry and technology-specific research and studies, Tech.mt has also engaged in consulting over 140 businesses in the field of e-commerce and the Internet of Things (IoT). The insights gathered through such assessment studies have been used to formulate upcoming national strategies and analyse the state of emerging technology deployment among local businesses. Through the well-received consultancy initiative, launched earlier this year, Tech.mt provided startups and students with pro-bono quality consultancy services by established industry players in a number of strategic key areas such as concept validation, go-to-market strategy, digital marketing, digital transformation, and internationalisation. In addition, our team provided assistance to businesses in every step of the digitalisation journey, from setting up e-commerce platforms to providing insight on funding opportunities available for digitalisation, and even offering assistance in terms of the application process of current grants and incentives. Digital transformation is sustained if the economy’s core is also adapting to digitalisation. Therefore, it is crucial that the public sector is not only an enabler of growth but also the main driver. Digital education, reskilling, and upskilling are necessary through any digital shifts happening both in the present and future. Indeed, Malta has been classified as one of the EU member states with the highest rate of performance

increase in the area of human resources (+30.9 per cent), which is measured on new doctorate graduates; population with tertiary education and lifelong learning (EIS 2021). On this front, Tech.mt has also continued to strengthen the academic interchange in the field of technology and research by signing eight agreements with the University of Malta and eight partnering universities in Italy. Malta is becoming a safe space for start-ups as it sets up innovation incentives that pose critical to an innovative ecosystem. The interest of SMEs and innovative business processes is increasing, as the European Innovation Scoreboard 2021 ranks Malta in third place among all member states within the Innovators area. Malta has consistently shown resiliency and the ability to prosper and grow in the face of global challenges. The tech industry is without a doubt promising since the future is unquestionably digital. However, this does not imply that the gains made thus far are sufficient. Along with the development of new technology, the digital economy’s future is brightening. New technologies such as blockchain, the Internet of Things, and virtual reality are becoming more prevalent, encouraging employees to learn new skills deemed important for any business. Malta is well-positioned to capitalise on its current capabilities, and Tech.mt will continue to play a key role in ensuring that technology and digital platforms are exploited to their full potential, guaranteeing a digitally resilient and innovative economy. E: techmt.contact@tech.mt; T: +356 2226 2100; Facebook: @Tech.mtMalta; Instagram: @Tech.mtmalta; LinkedIn: tech-mt; Twitter: @TechmtMalta

DIGITAL ISLAND 2022 SKILLS

ICT SKILLS DEMAND AND SUPPLY MONITOR REPORT 2021 PUBLISHED By Claude Calleja – Executive at eSkills Malta Foundation The Demand and Supply Monitor Report is a study undertaken by the eSkills Malta Foundation. The Demand and Supply Monitor project is a crucial one. It provides an accurate snapshot of the current demand by ICT entities (ICT companies, departments, and units) and the supply of ICT education and training in Malta. The project also provides a thorough analysis of several specific areas and sheds light on the international trending technologies. The project aims to guide both the demand and the supply organisations for the nearand long-term actions that are required.

The survey also delves into the quality of soft skills in the ICT sector. There is general agreement among organisations that many of the critical soft skills required in the ICT profession are somewhat lacking in both the current workforce and particularly in recent hires from universities. According to a 2020 study conducted by Udemy, soft skills are being prioritised by Learning and Development leaders worldwide with a greater focus on contextual skills in terms of learning and development. It is highly recommended that the learning and development strategy for both demand and supply organisations, as well as training providers, mirrors the international initiative to further prioritise critical soft skills development.

This report is required to target the specific requirements of industry and ensures that the policies set by the Government of Malta, the programme of work of the eSkills Malta Foundation, the outputs of educational institutions and the adoption of relevant frameworks and standards are in line with such needs and the national strategic goals in Information and Communications Technology.

In view of this, it was also noted that organisations need to increase their training opportunity offerings to meet ICT practitioners’ needs. We therefore recommend that several initiatives and programmes are set in place to incentivise organisations to support their employees in their educational and training endeavours by providing access to relevant resources.

According to European Commission studies being conducted, the demand for digital technology professionals has been growing by 4 per cent annually, with an accelerated growth in demand during the COVID-19 pandemic. The number of ICT specialists in the EU has grown by 40 per cent from 2011 to 2019, over six times higher than the increase in total employment. A 21.9 per cent employment growth in the Malta ICT sector is forecast by Cedefop4 from 2020 to 2030, more than twice as large as the forecasted growth for the EU27 (8.9 per cent). 60

The report forecasts that the current Maltese ICT student pipeline will not be sufficient to meet ICT market demand growth. It is being suggested that campaigns to promote ICT studies and ICT job opportunities to prospective ICT students are recommended in order to ensure that sufficient talent is available on the market to sustain the continued growth of the ICT industry in the future.

To help with this, it is suggested that local educational institutions should further explore and pursue the development of “Work and Learn” programmes, apprenticeship degrees and other similar programmes. These have proved to be highly successful in other European countries such as Germany. The existing apprenticeship and internship programmes should include the rotation of students in different roles throughout their experience to offer the necessary visibility and exposure to the multitude of ICT disciplines available.

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Together with apprenticeships, certification has become increasingly important as offerings in this space have seen a large increase both in numbers and variety over the past decade. New technologies require new skills and companies worldwide are facing difficulties in finding appropriately qualified ICT professionals with demand forecast to increase in the years to come. The results of this survey support this, with 59 per cent of the demand respondents to this survey either strongly or somewhat agreeing that organisations benefit from having ICT practitioners pursue professional certifications, and with 36 per cent neither agreeing nor disagreeing. Individual ICT professionals overwhelmingly agree on this front, with 72 per cent recognising the importance of certification in the ICT profession. This is a global challenge and Malta needs to compete for such talent. It is highly recommended that a greater presence at international recruitment and job events be pursued and incentivised to attract international talent to the Maltese market. It is important to note that this study does not represent a census, but an analysis based on survey responses and personally conducted interviews with key stakeholders across the Maltese ICT sector aiming to identify key trends, critical areas of interest and the market’s general sentiment towards the current state of the Maltese ICT sector. Throughout the survey, reference was made to competencies and job profiles, which are based on the e-CF Framework. Specific technologies and respective technology categories were extracted from the annual Stack Overflow developer survey. This allows the comparison of survey results to other evaluated sources. With the Maltese ICT market poised to see significant growth in the coming years, it is imperative that a pro-active approach continues to be taken to capitalise on the projected growth, support business digitalisation efforts and keep Malta competitive on the international ICT scene.

development opportunities, such as training and certification. The current demand cannot be met solely by relying on the local tertiary education pipeline. The number of ICT students is not growing proportionally to the demand; in the shorter term we need to look onward to potential resources stemming from the much wider international talent pool. It is thus highly recommended that Malta’s ICT market appeal be highlighted and given more international exposure, as well as be potentially enhanced by exploring and pursuing initiatives that have proven to be successful on the international stage. In order to remain competitive, the adoption of emerging technologies must be kept in focus and supported by providing ICT professionals with relevant training and certification opportunities, as a lack of specialised human resources could potentially lead to a stall in adoption, and, subsequently, in the width and quality of market offerings. Providing such opportunities needs to be supported by initiatives to incentivise both ICT professionals and ICT organisations through support, clarity, purpose, legitimacy, and exposure. Enabling and streamlining key stakeholder communication across the field is essential in ensuring that the market can evolve homogenously and in line with international trends, and a more centralised approach is highly recommended. While this study sheds light on a number of developments and provides context for some key considerations, an ongoing dialogue between key stakeholders needs to be facilitated by focusing communication through a national platform. The progress made on the Maltese ICT market across all dimensions over the past decade sets a precedent that sorely needs to be succeeded by a pro-active approach to the market’s continuous development in order to realise its existing potential and accelerate the path to growth and evolution. This report was compiled and structured to reflect the overarching dimensions and implications of the responses with a view to formulate recommendations that address the challenges faced by all relevant stakeholders while attempting to remain impartial to subjective individual challenges. The ICT Skills Demand and Supply Monitor 2021 can be downloaded from https://eskills.org.mt/ ictskillsdemandandsupplymonitor

The greatest challenges currently being faced mainly revolve around human resources and continuous development, with a scarcity of ICT professionals in relation to market demand, and existing ICT professionals lacking the required learning and 61

DIGITAL ISLAND 2022 BUSINESS

THE SHIFT TO DIGITAL

IS HERE TO STAY

DIGITAL ISLAND 2022 BUSINESS

Many might assume that the rapid increase in online retail and catering sales accelerated by the pandemic means a significant rise in profits, but it may not always be the case. While the online option certainly has its advantages for the consumer, it’s the merchant who absorbs the extra costs of software, delivery charges and added staff. Two industry players in the catering and retail/supermarket sectors talk to Lisa Borain about the effects of the exponential rise in online sales since the coronavirus pandemic has hit Malta. According to a survey published by Statista – a German company specialising in market research – the EU countries which were hit the hardest by the coronavirus pandemic – such as Spain, Belgium, and Italy – shopped online more in 2020 when compared to previous years. Those countries which imposed less severe lockdowns (such as the Nordic nations) witnessed a smaller increase in e-commerce. Moreover, the number of people doing more online shopping due to the pandemic increased the most in European countries whose inhabitants were previously less interested in e-commerce. One theory: habits may have changed during the prolonged period of social distancing, introducing people to e-commerce for the first time.

The Malta Communications Authority published a survey in April this year, entitled ‘Insights into Buying Behaviour Attitudes: Internet & E-Commerce Use by Consumers Survey 2021’, providing an interesting perspective on the local situation. It was found that during 2020, 27 per cent of Malta’s digital users increased their online shopping during the coronavirus pandemic, and that, e-commerce sales in Malta are five percentage points higher than the EU average. One of the biggest industries to experience a massive shift in e-commerce is retail. In a roundup released by ROI Revolution – a USbased e-commerce marketing agency for various

We are currently investing in new technology whereby the trolley itself is a cash counter so that the person picking up the goods will be able to encash at the same time as he/she is putting the goods in the trolley. This will save a lot of time and improve efficiency. Charles Borg, PG plc 63

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We can knock out quite a few meals, but the delivery companies charge between 20 and 25 per cent so it’s important that there’s volume. Otherwise, it’s hard to make a profit from it. Kevin Attard, Fresco’s Restaurant and Giorgio’s Café

brands – in July of this year, it was reported that global e-commerce in the retail industry was up 95 per cent this June over June 2019. Zooming into the local context, Charles Borg, Executive Director and CEO of PG plc (Zara, Zara Homes, Pama Shopping Village and PAVI Shopping Complex) says, “since the onset of the COVID-19 pandemic, there has indeed been an exponential rise in online sales experienced at the supermarkets and yet higher for our fashion sector. The shift to digital is here to stay. In fact, Zara’s mother company Inditex, is currently dedicating substantial investment into their online sales platform.” “In my opinion,” he adds, “whereas the upbeat online shopping trend does not threaten the existence of traditional high street shopping, whether for the fashion or grocery sectors, it most certainly affects it. As stated in the financial statements issued last month, our online sales for fashion retail equate to 12-15 per cent of total sales, which indicates clearly that physical shopping is still the greatest force with a substantial gap. This number is significantly less when it comes to online sales for groceries. The ripple effect of when a customer shops online – particularly for groceries – is that the element of impulse buying is significantly reduced.” Beyond this, online shopping carries a considerably higher cost for the merchant when compared to in-store sales. In-store overheads are fixed, which means that each customer shopping in person does not result in added costs to the company. On the contrary, for every online purchase, an employee is required to spend time in the store or supermarket preparing the order, after which, a delivery must be made. Mr Borg says, “these added cost implications are not to be overlooked. Many people

assume that the online offering, which reflects in increased sales, necessarily results in better margins. This is not always the case since online sales are more expensive to prepare and unless the online order is of a certain amount, then the cost of preparing and delivering the shopping basket will be higher than the margins we make. Therefore, our job is to improve our efficiency in collecting the goods to minimise our overall expense. We are currently investing in new technology whereby the trolley itself is a cash counter so that the person picking up the goods will be able to encash at the same time as he/she is putting the goods in the trolley. This will save a lot of time and improve efficiency.” As a result of the fashion industry feeling some of the biggest shockwaves from the coronavirus pandemic, digital was crucial to fashion’s survival last year. The online channel saw growth for fashion brands last year and global digital sales are expected to increase substantially this year. However, that doesn’t equate to a rise in profits. Mr Borg shares, “the selling price of the garment remains the same whether it’s available online or in-store, meaning that the extra preparation and delivery costs must be absorbed by the company.” “Both in terms of food and fashion,” he expands, “in-store sales are still by far the company’s bread and butter. Nonetheless, we will of course, still work to better the online buying range and experience as much as possible, because after all, we are contending with competitors, and it is necessary to offer customers as much flexibility and ease as possible.” “While focusing on our online offering, we are also working hard at continuing to create shopping destinations of our two supermarket outlets, PAVI and PAMA. Taking PAMA as an

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online shopping and delivery, they may find that the costs entailed render the operation unfeasible. Smaller supermarkets will find it challenging to bulk-buy to the extent that the larger supermarkets can, also creating an added disadvantage. On this subject, Mr Borg, says “there is always going to be scope for the village grocer because of proximity, but with the increase in large supermarket outlets, the purpose of the village grocer is likely to be reduced to the basics and essentials.” From a catering perspective, there has also been a substantial rise in online ordering, particularly as a result of the pandemic. However, most catering establishments don’t have an in-house delivery system, which means that outsourcing to delivery companies can deeply cut into profits, with charges of a whopping 20-25 per cent. Kevin Attard, a restaurateur involved in Fresco’s Restaurant and Giorgio’s Café in Sliema utilises most of the online delivery companies. “Online orders have definitely increased. In our case, it makes sense because we have a big kitchen that can cope with the demand in the restaurant, as well as the deliveries. We can knock out quite a few meals, but the delivery companies charge between 20 and 25 per cent so it’s important that there’s volume. Otherwise, it’s hard to make a profit from it.”

example, a customer generally does not visit simply for supermarket shopping, but also enjoys the other retail, catering and service offers. We are in the process of creating the same at our PAVI outlet, as we continue to grow the area and offering. It is our objective to create a holistic experience for both outlets, ensuring a pleasant experience to our customers and their repeat custom,” he shares. Small businesses are likely to be negatively affected by the trend towards online shopping due to their economies of scale. Whereas many will strive to offer

“In my opinion, there are three variables for the smaller restaurants,” he asserts, when asked about the prospects of small-scale eateries within this new reality in consumer behaviour, “it’s about location, cost and price. From one aspect, if they keep their business small, keep overheads down, and focus more on their deliveries, they could survive. On the other hand, if they can’t keep the quantity up due to limited space, staff, and equipment, they won’t make enough money to make it work. It’s typical that the online orders start rolling in when the restaurant is busy. So if the kitchen can’t cope with it, a stage of stagnation will be reached, which will cause long waits in the restaurant or the deliveries.”

Online ordering isn’t going anywhere and will only increase... Having said that, I don’t think it will affect traditional dining, especially not in summer. Kevin Attard, Fresco’s Restaurant and Giorgio’s Café 65

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This shift in consumer behaviour is long-term, according to Mr Attard. “Online ordering isn’t going anywhere and will only increase. It seems that people are ready for the change and are happy to pay for a delivery charge. No one seems to be complaining about it. Having said that, I don’t think it will affect traditional dining, especially not in summer. People still want to be out. Winter will most definitely see an increase in online ordering, but as soon as the weather is warm again, it will be back to a regular catering summer in Malta.” Beyond the cost considerations of this acceleration in online buying, the coronavirus pandemic crisis is

fast-tracking an expansion of e-commerce towards a whole lot of new firms, customers and types of products. Another long-term result could be a shift of online transactions from luxury goods and services to everyday necessities. Whether it’s profitable to the merchant or not, the consumer has tried online and likes it. Charles Borg concludes, “it’s undeniable that there are serious challenges within this ascending online shift. However, this phenomenon is here to stay, and as a result, we will continue to invest and strengthen our dual offering, recognising that this is the future.”

Both in terms of food and fashion, in-store sales are still by far the company’s bread and butter. Charles Borg, PG plc

DIGITAL ISLAND 2022 BUSINESS

MALTA’S DIGITAL MEDIA SPECTRUM

REGISTERING UNPRECEDENTED RAPID GROWTH

DIGITAL ISLAND 2022 BUSINESS

With a clientele that is increasingly seeking digital options, targeted online marketing and sponsored content have become critical in marketing strategies for companies across industries. In recent years, one of Malta’s leading media organisations, Content House Group, has evolved its online publishing arm and has seen unprecedented growth in this area, to an extent that it has become the largest local online publisher, with a strong portfolio of seven diverse portals. Sarah Muscat Azzopardi delves behind the scenes to learn about the company’s strategy, and the benefits of the growth achieved online. Launched in 2004, Content House Group is one of Malta’s leading media organisations and publishers. With over 20 media brands ranging from print to online, the company has invested heavily in a strong line-up since its inception and garnered a wealth of experience in delivering premium results and value to its readers and clients. “What we consistently tell our 5,000+ clients is never to put all your eggs in one basket,” says Managing Director Jesmond Bonello, speaking of the Group’s diverse offering. “With glossy magazines, you have a strong physical presence – they’re prestigious, you’re reaching a target audience that is very different, you have longevity, with a long shelf life, and can leave a lasting impact on readers,” he explains, affirming that online is completely different. “When it comes to online marketing and banner ads, it’s about constant reinforcement of messages and micro-campaigns that target specific readers, which is why we offer seven strong and distinct portals. Essentially, we believe in sniper-targeted marketing – it’s very effective and we specifically target local readers,” he maintains.

“We feel that campaigns featured in our portals, which have a strong local editorial team, a local online digital marketing team, a strong local social media presence, and a loyal local readership base, can deliver more solid results,” adds Head of Digital and Marketing Raisa Mazzola, affirming that Content House offers a good local alternative to Google, in that the team’s efforts are more qualitative, whereas Google focuses more on the quantitative aspect. “What we also offer on our seven online portals is ad hoc strategic sponsored content,” continues Managing Director Isabel Depasquale, explaining that over the past two years, demand for online sponsored content has exploded. “The increase is exponential; the reason being that we can help you tell your story, by providing not only a solid credible online platform, but also offer, in tandem, online marketing and a social media boosting service, editorial and journalistic services, photography, and creative direction,” she reveals. Delving further into what this means for Content House’s clients, Ms Mazzola explains, “clients can choose between having a sponsored article shared directly on their socials or coming to us, strategically choosing which of our portals best

DIGITAL ISLAND 2022 BUSINESS

We believe in snipertargeted marketing – it’s very effective and we specifically target local readers.

suits their needs for a specific campaign and working with our journalists and creative team to come up with a strong piece, which we will not only publish on the chosen portal, but also boost and share on socials, and which the client can then use for their socials. Clients now know that our route is far more creative, far more effective, and far more credible.” Speaking of the company’s impressive growth trajectory, leading Content House to own Malta’s largest online portfolio, with seven portals, Mr Bonello reveals that over the past 17 years, the team has retained the tradition of launching at least one new brand each year. “We did it in good times and we kept the tradition in challenging times, including last year and this year,” he declares, describing the people behind the company as “restless and agile, determined and dynamic”, and crediting this approach with the continued investment in product development. “Today we have not replaced our magazines with our online portals, rather, we have a strong line-up of over 20 brands, and all our online brands have, in tandem, a strong print arm,” he continues, describing going online as a natural route for the company. “It’s a journey that started seven years ago but which has accelerated significantly over the past two years,” adds Ms Depasquale, admitting that the pandemic has accelerated the pace, and the team today is very happy with its standing and market share. “The rationale behind such growth is to offer very targeted platforms to our clients – we believe clients today want to use more targeted and focused media, and less generic media where they mostly have to play hit-and-miss,” continues Mr Bonello, affirming that the brands Content House operates are born out of the team’s long-standing experience in Malta’s specialised media landscape, coupled with a deep understanding of clients’ individual needs. 70

Because of this, he maintains, the company has created unique synergies with both its audiences and its clients, to the benefit of both. “In fact, 2021 has proved to be our best year yet. On average, Content House’s seven online portals attract over 600,000 users per month and over 3,500,000 pageviews – both impressive figures,” Ms Mazzola adds. “Our local competitors for ad revenue are around 10 online news portals, that more or less offer similar content and the same commercial offering, whereas we stand out by offering seven creative and distinct online portals that are more focused and niche – namely on business news; an online business search engine and networking platform; an inspiring corporate portal that focuses on business leaders, CEOs and C-level news; a leading portal in the lifestyle and gossip genre; a weddings platform; an iGaming portal; and finally, a portal that focuses on Malta as a travel destination and which doubles as an alternative lifestyle news portal for expats and locals,” she continues – all of which are proving very effective for the large number of clients that continue to choose them.

DIGITAL ISLAND 2022 BUSINESS

A CLOSER LOOK AT CONTENT HOUSE GROUP’S ONLINE PORTFOLIO WhosWho.mt “Broadly speaking, WhosWho.mt is targeted towards the business community in Malta and Gozo, constantly covering people in business and management, professionals and companies. We cover anything that happens in relation to people in business, professionals, people in management at any levels, as well as company news. So if you’re in business and professional circles, our content will keep you updated, and the feedback we’ve been getting is that when it comes to news about people and companies in business and management, whoswho.mt has become the go-to place!” explains Online Business Editor Helena Grech. “Apart from providing a daily news service on people in business and management and on companies, WhosWho.mt also hosts thousands of Who’s Who profiles and company profiles – and in tandem we host Malta’s first proper business and networking search engine, with specific keywords, and the feedback we’ve been getting is outstanding. This platform has exploded in popularity,” she continues. “WhosWho.mt is a first for Malta – a local networking business platform and the feedback we’re receiving from our clients, who are constantly booking comprehensive packages, is that they are genuinely impressed that in organic searches, on many instances and locally, they are getting better feedback on WhosWho.mt than on LinkedIn,” says Mr Bonello, clarifying that while the team is not interested in competing with LinkedIn, which is a great, respected global social media player, WhosWho.mt is a very effective tool in Malta.

Having grown exponentially since its launch, the team reveals that WhosWho.mt enjoys a strong demand. It contains thousands of profiles detailing people in business, management and professionals, as well as thousands of company profiles. “WhosWho.mt has become synonymous with constant updates about business professionals,” says Senior Corporate Sales and Business Development Manager Diane Scerri. Speaking of its main benefits to clients, she explains, “most people I speak to about WhosWho.mt immediately associate the brand with the profiles featuring people in business, which are indeed an integral aspect of what the portal offers – getting to know more about people in the local business world.” And while the emphasis is all about people, she also acknowledges that some like to follow, but don’t like to be in the limelight, which is where the portal’s other offerings come in, “as the portal also offers other kinds of exposure such as company profiles, sponsored content and animated banners,” she notes. “We are happy that WhosWho.mt is currently ranked as the number one business portal in Malta and the number one local corporate and B2B networking platform and search engine,” Ms Mazzola reveals.

WhosWho.mt is currently ranked as the number one business portal in Malta and the number one local corporate and B2B networking platform and search engine. 71

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Gwida.mt “The target audience of Gwida.mt is primarily Maltese speakers,” explains Editor Emil Calleja Bayliss, affirming that it is the only local portal within its genre locally that attracts a very diverse audience of people of all ages. “In such a fast-paced world, many people want to have one source that they can rely on to find all the entertainment news and gossip on local personalities, as well as on what’s happening in the country away from the political sphere. That is the primary focus of Gwida.mt,” he says, maintaining that the Gwida audience loves interacting and giving their input, so the team works hard to enable them to do just that. “We try to vary our content when and where possible, from personality stories, to human stories, community news and entertainment stories,” he continues, affirming that the team does its best to source stories that readers would want to know more about, presenting a different angle where possible. “The human element is the key in bringing the value the readers desire. The fact that our audience keeps returning shows that they know what to expect when visiting the site,” Mr Calleja Bayliss maintains. “Gwida.mt is a first in Malta,” continues Senior Brand Sales Manager Jessica Spiteri Catania, affirming that the team of digital marketing experts behind it is constantly monitoring social media, driving major traffic as well as strengthening the portal’s organic growth. “We are going against that current – providing a dose of daily fresh entertainment and community news

DIGITAL ISLAND 2022 BUSINESS

The social media engagement is insane. Honestly, the results clients are getting on Gwida.mt are unprecedented locally.

with a difference – covering social media and community news, gossip and entertainment, all in Maltese, making Gwida.mt stand out from the crowd,” she adds, describing it as a tried and tested online platform that delivers campaigns to millions of readers monthly. “It’s a fully functional portal with over 4.8 million sessions registered monthly. Our stats for readership and Facebook engagement are also seriously impressive!” “Gwida.mt has exploded,” agrees Ms Mazzola. “It’s ranked as Malta’s number one lifestyle and gossip portal, which is entirely in Maltese, and is always ranked as the fourth or fifth (it varies on a daily or weekly basis) most popular portal in Malta – this list includes all portals and sites in Malta, including all news portals – so here we are super proud to have developed one of the most popular sites in Malta. The social media engagement is insane. Honestly, the results clients are getting on Gwida.mt are unprecedented locally.”

DIGITAL ISLAND 2022 BUSINESS

MaltaCEOs.mt “MaltaCEOs.mt is the sister brand of one of the coolest publications ever created in Malta – the annual MaltaCEOs coffee-table book that features 50 top local CEOs every year,” explains Mr Bonello. The unique C-level platform reaches out to Malta’s CEOs and business leaders, focusing on Malta’s business leaders, CEOs and news related to the corporate top tier C-level segment in Malta, as well as providing a platform for business leaders to debate fundamental issues related to leadership, growth, strategy, innovation, organisational culture, managing people, technology, entrepreneurship and decisionmaking, among others. Apart from its dedicated team of business editors and journalists, the portal also boasts over 20 business personalities and C-level contributors who share their insights on a regular basis. As the editor of MaltaCEOs.mt, I’m personally very satisfied with and proud of the growth of this C-level focused platform, which has grown to become an informative and useful resource for the local business community. Speaking about what makes MaltaCEOs.mt stand out as a platform of choice when it comes to sponsored content and online advertising, Senior Partner Matthew Spiteri explains, “the theme of the portal confirms that you will target a specific audience. Traditionally, you can choose to place content and campaigns on channels that carry a B2B theme but essentially reach out to a wider spectrum. Business leaders do follow what other

MaltaCEOs.mt is the sister brand of one of the coolest publications ever created in Malta – the annual MaltaCEOs coffeetable book that features 50 top local CEOs every year. 74

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business leaders are saying. MaltaCEOs.mt provides this daily dose of updates.” Explaining how online advertising on a product like MaltaCEOs.mt differs to traditional forms of advertising, he continues, “brands tend to invest in B2B channels hoping to target their niche of interest. Through MaltaCEOs.mt, you already have a set criterion based on the theme the portal carries. This means that your campaign and content will reach the majority of the few rather than targeting the majority and hoping that the few you want will come across your campaign.”

Creating visibility on such a platform that gives visibility to individuals that have achieved success in business, Mr Spiteri continues, automatically contributes towards clients’ goodwill and position within the market. “Doing business locally and internationally comes along with due diligence. Having your story, content and news updates featured on a premium thirdparty independent channel helps investors understand what your company is shaping up to be,” he says.

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BusinessNow.mt As the sister brand of the Business Now Magazine, BusinessNow.mt is a comprehensive business news portal run by a team of dedicated and specialised business news journalists and creatives. “BusinessNow.mt is targeted towards anybody with an interest in local business affairs,” explains Online Business Editor Helena Grech, affirming that it targets mainstream news from a business perspective, providing insights into how the dayto-day happenings of the country are impacting the local business environment. The strategy behind BusinessNow.mt is a simple, but effective one, she notes. “We follow Malta’s current affairs at the broadest level and explore how such issues are impacted or driven by the economy and local business. Currently, there are numerous outlets providing a platform for the country’s political and social issues, however at a time when Brexit, COVID, greylisting and

more are making their mark on the local business environment, from large multinational players to your local store, BusinessNow.mt seeks to inform on the state-of-play with regards to doing business on the island.” Indeed, continues Senior Partner Matthew Spiteri, BusinessNow.mt focuses on business

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news across the board and zooms in on business activity across the full spectrum of the industry, giving 24/7 importance to updates which are relevant to business decisions and analyses. “With an ongoing commitment to cover activity linked to the economy from both the private and public sectors, this is a highly effective platform to feature on if you wish to create visibility for yourself,” he explains.

“The growth we’ve registered since the launch of BusinessNow.mt is impressive and we can see it evolving as a credible and reliable source for business news and analysis. A portal like this needs time to mature and find its distinctive voice, and this is the journey we have embarked upon,” adds Mr Bonello.

The growth we’ve registered since the launch of BusinessNow.mt is impressive and we can see it evolving as a credible and reliable source for business news and analysis.

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GuideMeMalta.com GuideMeMalta.com is the sister brand of Guide Me Magazine, which Content House Group has been publishing for the past 16 years. It is a unique online platform targeting tourists and visitors, as well as serving as a reliable alternative lifestyle news portal for expats and locals. Boasting regularly updated cutting-edge content written by a diverse team of journalists and editors, GuideMeMalta offers local insight into everything Malta and Gozo – from news, lifestyle and insider info to restaurant reviews, top events, places to visit and things to see and do. Having been personally involved with the portal since its inception, it has been inspiring to see its growth into an informative, lively and sought-after online resource. “GuideMeMalta.com is one-of-a-kind, and there is nothing like it on the island,” adds Senior Brand Sales Executive Wanaha Camilleri, explaining that it is the only portal of this genre. “Apart from

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targeting the lifestyle sector, you can find anything you need to know about what’s happening in Malta and Gozo – anything related to food and drink, culture and the theatre, nightlife and events, attractions, celebrity news and much more. This is the one-stop portal for everyone, be it locals, expats or those who want to plan their holiday on our beautiful island,” she maintains. Over the years, GuideMeMalta.com has become Malta’s most popular travel and lifestyle portal, she continues, quoting figures released by Alexa (the global ranking site run by Amazon), which consistently showcase GuideMeMalta.com as the most popular travel and lifestyle portal in Malta. “The portal is highly popular as a reference point on what’s new and what’s on in the Maltese islands. It has cemented itself as a strong digital voice and platform, offering a very different read to everything else that’s out there! The content is engaging, positive and apolitical,” Ms Camilleri says. Adding to this, Ms Mazzola affirms, “GuideMeMalta.com has over 40,000 followers on social media and is ranked as the number one independent visitors’ portal in Malta.”

GuideMeMalta.com has over 40,000 followers on social media and is ranked as the number one independent visitors’ portal in Malta. 79

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iGamingCapital.mt iGamingCapital.mt is the sister brand of the popular iGaming Capital Magazine, which is often spotted in trendy iGaming companies and affiliate companies in Malta. “iGamingCapital.mt is mainly geared towards the local iGaming, gaming and esports community, that is professionals, companies, Government agencies and any business, entity or individual with an interest in the sector,” explains Online Business Editor Helena Grech, affirming that, because local developments in the industry are important not just to locals in the sector, but also to foreign nationals looking to relocate to Malta, the portal targets the thousands of people plugged into this fast-paced and rapidly changing environment. “Being that the platform is Malta-focused, iGamingCapital.mt provides content that goes beyond the daily announcements typically found on similar platforms, such as mergers and acquisitions, but seeks to take a broader approach,” she continues, adding that through news of HR developments, 80

The feedback from the industry is very positive indeed – this is a portal that is becoming a very strategic brand in the local iGaming industry. awards and expansion to regulatory changes, iGamingCapital.mt seeks to inform its readers about a wide range of issues likely to impact the industry. “From a Malta perspective, it also tackles major issues impacting those residing in or coming to the island for a career in the industry, such as the ease of finding a residence and the state of the local banking community,” Ms Grech adds. “What distinguishes iGamingCapital.mt from other portals is the fact that it is Malta’s first online media portal dedicated 100 per cent to the local iGaming industry, as well as to other sectors and industries that work in tandem with people in iGaming,” adds Corporate Sales and Business Development Manager Marie Claire Camilleri, explaining that the platform

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takes a holistic look at this sector whilst maintaining an exclusive focus on the iGaming industry day in day out. Whilst there is a lot happening in the industry, iGamingCapital.mt provides daily updates on the developments unfolding in Malta as well as what’s going on in other jurisdictions that can impact the local sector. “The iGaming sector in Malta has exploded over the past 10 years, but it was also in the news for the wrong reasons, primarily for attracting very few operators that could have easily given a bad name to the Maltese jurisdiction and the other players operating in this market,” she continues, asserting that iGamingCapital.mt is not a passive player, but lobbies authorities to safeguard the interest of the industry in Malta to ensure that the local industry is made up of credible and legitimate industry players. “We wanted to create a strong local iGaming portal for this strategic industry, and to serve as the voice of the industry to push for better regulation, for more effective due diligence, and for a clean market, which is what the local industry is after,” continues Mr Bonello, maintaining that the team behind the portal constantly pushes this agenda. “The feedback from the industry is very positive indeed – this is a portal that is becoming a very strategic brand in the local iGaming industry.” 81

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OurWedding.mt

OurWedding.mt represents Content House Group’s very first foray into the online sphere, and the company has recently launched the second generation of the portal.

she explains, adding that beyond this, the portal also enjoys a strong following due to its broader range of content – from real weddings and vintage weddings to engagement announcements and baby news.

“OurWedding.mt is a niche product with a very specific audience,” explains Ms Mazzola, describing the majority of its readers as female, between the ages of 23 and 40. “As one might imagine, many of these women are brides to be! Here, we’re basically targeting those who have marriage on their mind.”

“Content is key when it comes to OurWedding.mt,” notes Ms Mazzola, affirming that the team behind the portal is made up of experienced writers who are always on the hunt for all things bridal – from beautiful weddings and celebrations to the latest trends in the wedding world.

“OurWedding.mt focuses on wedding planning, local suppliers and anything bridal, which our audience find to be of great value as they’re planning their big day,”

“On the other end of the spectrum, we’ve got our social media experts who are obsessed with the way in which content is being presented to our audience.

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Put these two things together and you’ve got yourself a perfect match. It’s also one of the ways we bring value to our readers,” she states, drawing attention to a strong digital marketing team that zooms in on the articles, assessing traffic and social media engagement. “They have a pivotal role in helping the team to give our audience more of what they already love,” she says. Ms Spiteri Catania describes OurWedding. mt as Malta’s largest and leading weddings portal, attracting the largest readership and the highest form of social media engagement and traction in its genre locally. “Over the years, the portal has gained a strong following among couples preparing for their wedding and setting up their home, and their families. When advertising with us, our creative team of content writers and social media strategists will design a strategy that will work for your campaign as well as posting the article on our social media, boosting it and working on the right choreography that will get you results,” she explains. “OurWedding.mt is consistently ranked the number one weddings portal in Malta by Alexa – the global ranking engine owned by Amazon –and with our socials, which feature thousands of daily followers on Facebook and Instagram – OurWedding.mt goes from strength to strength across the board,” she continues. “We are very proud to own and manage the largest and leading online weddings portal – ranked by far as the number one portal in this sector – and also to be the first portal of its kind to launch a search engine, with keywords, specifically for the weddings sector. This is a portal that has evolved and we’re very satisfied with the results – we have come a long way to beat all past and existing local competition,” concludes Mr Bonello.

Over the years, the portal has gained a strong following among couples preparing for their wedding and setting up their home, and their families. 83

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CARLSBERG 0.0 ALCOHOL-FREE LAGER Refreshing with a crisp hoppy bite, Carlsberg 0.0 is everything that you would expect from a regular well-balanced pilsner however crafted to contain 0 per cent alcohol, zero sugar and 46 calories per bottle. Like all Carlsberg beers, Carlsberg 0.0 is brewed using the same traditional and natural ingredients as Carlsberg Pilsner. The brewing process starts with premium barley malt, hops and water. Yeast is added to start the fermentation and after brewing, the alcohol is gently removed. The beer is then filtered, which helps it develop the same taste as the original Carlsberg beer. Carlsberg 0.0 is probably the perfect brew, empowering consumers with the choice and option suitable for all their drinking occasions. It also addresses the cultural trend around the importance of living a balanced and healthy lifestyle, and it finally allows people who can’t drink alcohol to be involved in every beer occasion. To that we say ‘Skål!’ Carlsberg 0.0 is available nationwide in 33cl glass bottles as well as 33cl cans. The Carlsberg portfolio is brewed, marketed and distributed by Simonds Farsons Cisk plc.

PKF MALTA LAUNCHES NEW WEBSITE WITH IMPROVED VISUALS AND FUNCTIONALITY The new website was developed using a high-quality and efficient platform backend Audit, assurance, tax, and advisory firm PKF Malta recently announced the launch of its newly redesigned website. The new platform features the latest information and updates on the company in a user-friendly and visually-compelling style – in line with PKF International’s global branding framework. The company’s new website was developed using a highquality and efficient platform backend which supports the brand and is search engine optimised. It also features added security in order to sustain the firm’s business in its current and future needs.

The new PKF Malta website also includes live chat functionality, allowing its users to sign up to the company’s newsletter. “Investing in a new, professional website and making sure its content is updated on a regular basis is key to any business,” says PKF Malta Senior Partner George Mangion. “We believe that revamping our website from both a technical and a visual perspective will help PKF Malta better communicate who we are, what we offer, as well as the events and initiatives that we organise or partake in.” “We are proud to state that our new website is supported by PKF’s International Team,” the Senior Partner shares. PKF Malta’s newly launched website offers users information relating to the services offered by the company. It also provides information related to PKF Malta and PKF International in a dedicated news section. www.pkfmalta.com 85

DIGITAL ISLAND 2022 DIGITAL TRENDS

GLOBAL DIGITAL TRENDS

SHAPING MALTA’S ECONOMY OF TOMORROW The COVID-19 pandemic has forced and accelerated the rise of the digital economy on various fronts and undoubtedly this digital transformation will continue to shape the economy of tomorrow. Teri Spiteri identifies the global trends that will have a direct impact on the digitalisation of Malta’s economy in the coming years. 86

DIGITAL ISLAND 2022 DIGITAL TRENDS

We adapted swiftly – everyone had to. Offices emptied, sweatpants reigned and for many businesses, if you didn’t deliver, you didn’t exist. The new normal entered our lives and propelled many companies into the digital world – whether they were ready for it or not. 18 months later, the dust has settled and we’ve caught our breath. Business leaders are done fighting fires and are back in the driver’s seat, looking ahead at what’s to come. The question is: in a digital space that is busier than ever before, which are the trends that deserve our full attention?

PAPERLESS PAYMENTS

Before 2020, the paperless economy had a slow start in Malta. It was a determined David, taking on the Goliath of cash and cheques used every day across the islands. Nobody would have guessed that a virus would give it the boost it needed to get a foothold on the local scene. According to Insider Intelligence – a US-based research firm providing decision-makers with data, insights and analyses to make grounded decisions in a digital world – the pandemic accelerated the digitisation of the payments industry by two to three years. Cashless transactions through cards, digital wallets, wearables, QR codes and even voiceactivated payments are now a real alternative in people’s daily lives. 87

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What started as a solution to the hygiene issue linked to the use of cash has since been recognised by even the smallest corner stores to be a key factor in accessing the digital economy. Contactless POS machines are now commonplace, but it doesn’t end there. While merchants responded well to the pandemic by moving to e-commerce, their work is only just beginning. As customers continue to embrace online shopping, often interacting with stores they have not purchased from before, we can expect to see a growing demand for new digital payment methods that meet the safety and security concerns of customers. Payment on delivery, tokenisation, phone-to-phone payments (made popular locally through apps like Revolut) and even biometric fingerprint cards will help create a landscape where consumers can make decisions based on convenience, personal preferences and protection against fraud.

REMOTE WORK

The virus has broken through the cultural and technological barriers that prevented remote work in the past. Since March 2020, working from home (WFH) has established itself as the disruptor to a long-standing model in society of reporting to work at the office. Locally, while lockdowns have lifted and some things have gone back to ‘normal’, remote work is an element that is set to continue to some extent for many workers. Organisations adopting a fully remote or hybrid model will have to adjust their processes and policies to maximise productivity from remote workers. They will also need to address the new psychological and emotional stresses among employees that have arisen within this new model, not least from isolation. That said, remote workers aren’t the only ones impacted by this disruption. More home workers means fewer people commuting between home and work. This will continue to have significant knock-on effects in other industries, including transportation, fuel and car sales, restaurants and retail outlets in busy office areas, and the demand for office real estate, among others.

DIGITAL MEDICINE

US-based management consulting firm McKinsey & Company estimates that global digital-health revenues – from telemedicine to online pharmacies and wearable devices – will rise from $350bn in 2020 to $600bn in 2024. The speed at which this rise is reflected in the Maltese economy is anyone’s guess, however. The uptake of these new technologies in Malta has been slower than predicted, and as a result, this rare chance to improve the quality of healthcare, reduce waiting times in public clinics and lower the costs of private healthcare may vanish before it’s taken.

With the right investment and support of med tech start-ups, these trends could still make waves on our islands before too long. Digitising health records will not only rescue frontliners from mounds of paperwork, it would also serve as a valuable statistical resource to leverage big data and analytics. Clinicians could soon monitor patients at home or on the go without clogging up waiting rooms through advances in telemedicine and the Internet of Medical Things (IoMT) which include wearables, connected inhalers, smart beds and monitors.

DIGITAL CLASSROOMS

With only a couple of weeks’ notice, schools across the islands reacted to the lockdowns as best they could. The majority turned to readily available software options that were quick to deploy en masse, with Microsoft Teams being a popular choice. While these options certainly did the job when needed, it didn’t take more than a quick browse through local Facebook groups to realise that many were quite frustrated with the system – parents, teachers and students alike. This problem is not a local one, and has prompted investments and advancements in digital education

DIGITAL ISLAND 2022 DIGITAL TRENDS

While data has been important for businesses since the inception of the internet, the increased internet activity due to lockdowns and remote work has taken things to a new level. The IoB is providing more opportunities to collect data and analyse it, ensuring that businesses can continue their growth in the changing economic climate. IoB brings together psychology and marketing in a way that allows companies to improve their customer experience. Just a few examples of this include helping businesses resolve issues in closing more sales, replacing time-consuming customer surveys, analysing buying habits of prospective clients across different platforms, and even providing real-time notifications to customers about new offers. In short, when leveraged successfully, the IoB could generate a significant boost in the development of the sales industry.

PRIORITISED CYBERSECURITY

Cybersecurity continues to be the leading external concern for businesses in every industry. The number of active and increasingly sophisticated cybercriminals is on the rise, and several terrifying data breaches have hit the headlines over the past few years – the largest of these include the incidents at Facebook, British Airways and T-Mobile.

across the globe. Clear trends can be identified in software development for each of the three audiences. Millions of teachers are subscribing to apps like TheTeacherApp, which provides open source, digital learning experiences for their professional development within a remote learning model. Parents are hungry for guidance and assistance in home education, turning to apps and resources that allow them to be involved and engaged in their child’s learning. As for the students, the possibilities are endless: from software that helps them prepare for tests to programmes that use Artificial Intelligence to help them learn at their own pace, this is a niche that is far from saturated.

The sudden spike in remote work means that there have never been more employees accessing resources from remote locations on their personal devices. Without the tools or skills in place to secure these devices, cyberattacks are currently more possible than ever. Government-imposed security laws like the wellknown GDPR are a step in the right direction. However, organisations have started to take matters into their own hands through a bottom-up approach to cyber-

THE INTERNET OF BEHAVIOUR (IoB)

According to Gartner – a US-based firm offering large corporations, government agencies, technology companies, and the investment community, research and consultancy services – about 40 per cent of people across the globe will have tracked their behaviour via the IoB by 2023. IoB refers to the analysis of the behavioural data amassed through the Internet of Things (IoT) – wearable technologies, individual online activities and household devices, to name a few.

DIGITAL ISLAND 2022 DIGITAL TRENDS

awareness and cyber-resilience. Rather than reserving this type of training for the IT teams, businesses are seen to mandate this for all employees as part of their overall health and safety training.

DRIVERLESS VEHICLES

The nationwide 5G roll-out across Malta has paved the way for another technological advancement to reach our shores before too long: fully autonomous vehicles. It’s a disruptive transition in the automotive industry, but one that is giving customers what they’ve been asking for: seamless connectivity coupled with a driving experience that is as convenient as possible. Nevertheless, while drastic improvements have been made in the technologies required for driverless vehicles, it will be a while before fully autonomous vehicles are ready to hit the streets. Post-COVID caution means that the battered automobile industry is still navigating uncertainty, and even though companies like Tesla and Zoox have made huge strides with their self-driving cars, the adoption is still slow among consumers.

As a result, the focus has shifted towards vehicles with Driver Assistance Systems. Earlier this summer, General Motors debuted its Super Cruise technology with the launch of the ultra-high-end Cadillac Escalade Platinum. The vehicle does run manually, but also handles highway driving for you on major mapped roads. AI is prevalent here as the driver is constantly being monitored – the car will warn you and eventually switch back to manual if you stop paying attention to the road for more than five seconds. With these and so many other digital trends rising at unprecedented speeds, it’s essential to gauge which will have the greatest impact on Malta’s economy, and in what way. The only sure-fire way to venture into and benefit from the post-pandemic world is for business leaders, Government and academics to direct their expertise and resources towards identifying what is technologically achievable in the various sectors, and to determine which of these sectors has the biggest potential, both locally and internationally. This will facilitate and mobilise decisions towards directing, incentivising and supporting investment in the chosen areas.