A Maltese company receiving financial assistance though ERDF funds is developing a cutting-edge 3D monitor around which people will be able to move and would not need glasses for viewing.
The company, AV Technologies, is among 570 businesses which are benefiting from €35 million in schemes for the industry. In turn, these companies, mostly being SMEs, are investing €78 million in new technologies.
Finance, the Economy and Investment Minister Tonio Fenech announced details of beneficiaries in the third call as part of the European Research and Development Fund (ERDF) yesterday morning, during a visit to AV Technologies in Mellieħa.
Projects benefiting from the scheme include investment in alternative energy, business expansion and competitiveness projects. This helps increase access to foreign markets.
Originally, the government had allocated €20 million for the ‘20 million for industry’ scheme and another €10 million for the energy scheme. These were extended to a total of €42 million.
AV technologies, directed by the German born Ingo Mesche, has benefited from €282,950 from EU funds in Start-Up and Research and Development (R&D) Funds. Artists, musicians, actors and designers are among the people indirectly involved in the work of AV Technologies, Mr Fenech pointed out. It must therefore be supported, he believed.
Mr Fenech also announced that discussions are under way regarding the remaining budget and a fourth call may be launched for some of the schemes.
Mr Mesche explained the company he leads started two years ago developing software and hardware for the international market including Russia, China, the US and Europe. He has been working on such technology for the past 25 years and his company employs 10 people.
The company develops games for all sorts of computers and mobile phones and these are translated into various languages, including Maltese. A Maltese person who studied literature in Japan writes stories for the games while Philip Vella composes the music.
It is currently undertaking a two-year R&D phase regarding hardware and development of the 3D monitor – impressions and drawings of which are quite impressive.
The company’s expertise equals that necessary for films. Its employees are graduates from St Martin’s Institute, which Mr Mesche described as being the only college training people in the field, especially on the artistic side.
Since courses for graphic artists are somewhat lacking, the company may open up its own school in the future. However it is important that supply meets demand.
Alan Camilleri, chairperson of Malta Enterprise pointed out that as part of the Digital Entertainment Strategy for Malta, skills gaps are being identified while audits of technical and vocational institutions are taking place.
Malta Enterprise in conjunction with educational institutions is also assessing ways of enticing people to the industry and attracting foreign companies in the sector.
Funds were budgeted two years ago and a plan on how to go about things will be issued by November, Mr Camilleri said.