VALLETTA, Oct. 17 (Xinhua) -- The fourth Malta's annual startup festival kicked off on Thursday at the Malta Fairs and Conventions Centre (MFCC) in Ta' Qali, central Malta, showcasing innovative technology and the country's thriving startup ecosystem.

This year's festival is held alongside the second TechXpo Malta, further enriching the lineup of cutting-edge innovations on display.

Advanced technologies, including artificial intelligence (AI) and its applications across various sectors, robots, drones, virtual reality (VR), and 3D printers are among the highlights. They offered interactive experiences to captivate the audience.

The event aims to bring together under one roof, young people with an idea that can develop into a startup, investors and real experiences from startups both in Malta and abroad.

In his opening remarks, Silvio Schembri, minister for the economy, enterprise and strategic projects, emphasized the importance of technology for the nation's future. Startups have become an important part of Malta's economic strategy, he added.

Since 2020, 66 projects have been approved under Malta's startup finance scheme, with a total allocation of 30 million euros (32 million U.S. dollars), of which 8.7 million euros have already been granted, according to the minister. These projects cover a wide range of sectors including digital technologies, fintech, life sciences and cybersecurity, he said.

The startup festival will run until Friday, while the TechXpo will be open until Saturday. Enditem

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