Do you know of any Maltese who have taken part in the competition abroad?
Ronald Attard: This is the first time we are hosting the EY Entrepreneur of the Year award in Malta. For someone to apply, they must be either Maltese or have a business located in Malta. So far, the Maltese have not had the opportunity to compete for this award before, although in theory, if a Maltese person owned a company abroad - for example in the UK - they could have applied there.
Kevin Mallia: There haven't been any Maltese winners, for sure, but potentially they could have participated - for example in the US, where the event originally started in a number of states.
Why bring this event to Malta now?
Ronald Attard: For various reasons. EY is a large global organisation employing well over 200,000 people overall. Our emphasis over the last few years here in Malta, has been on the 'attractiveness' events which we rolled out in various sectors.
The 'attractiveness' series has matured here in Malta and taken on a life of its own. We believe we are mature enough as a company here on the island to bring this award to Malta. EY launched it 30 years ago and has been going from strength to strength, and has now spread to over 60 countries.
I believe that locally the entrepreneurial culture is growing. Traditionally, some of the weak spots have been a lack of access to finance, risk-taking and bureaucratic bottlenecks. This is gradually changing, so bringing over this award to Malta is partly due to our evolution as a firm and party due to the increasing entrepreneurial maturity of the island.
Kevin Mallia: The World Entrepreneur of the Year was launched 16 years ago and now has over 60 countries participating. It has become one of the key networking events in the global business calendar and we thought it was time to bring it over to Malta.
Tell our readers about the event
Kevin Mallia: It is an opportunity to network both locally and abroad. We already have a very professional and well-established panel of judges as well as the backing of the Chamber of Commerce and the Malta Stock Exchange. The event will give a lot of exposure to local entrepreneurs who participate. The winner will take part in the global awards in Monaco, which is an incredible opportunity. It will be held over a three-day period, and the Malta EOY winner will join the hall of fame for Entrepreneur of the Year winners spanning 30 years. Media coverage during the Monaco event is also a major plus.
A number of top global businessmen also speak during the Monaco event, and the local winner will even have the chance to network with them. Last year for example, The CEO of Coca-Cola and the Chairman of Lavazza both delivered speeches. This is a huge opportunity for any local entrepreneur.
Are there different criteria for Entrepreneur of the Year in Malta compared to elsewhere?
Ronald Attard: The criteria are identical throughout the world and are published on our website. They reward innovation, vision, leadership, reputation and other criteria.
The judging criteria also include community and industry impact; can you elaborate on this?
Kevin Mallia: We're looking at corporate responsibility and the way the entrepreneur is viewed by his or her staff and by competitors. The criteria do not just gauge financial performance, but a wider net. The judges will also look at innovation and how much of a trendsetter an entrepreneur is in the industry. The award will be won by an individual, so more than a question of scale, it's also the impression that the individual makes on the panel of judges, the person's leadership skills and so on.
When is the deadline for applications?
Ronald Attard: The deadline is 20 February, and the local awards ceremony will be held on 16 March. The Monaco event will be held between 8 and 11 June. Needless to say, the Monaco judges will also be totally independent.
Kevin Mallia: To apply, all one needs to do is go to our dedicated website and complete a questionnaire which will take less than 90 minutes to do. We also have a team who can assist any nominee in compiling the electronic questionnaire. We will then review applications to ensure that the minimum criteria have been met, after which the applications will be presented to the panel of judges.
Internationally, where did the idea for such an event come from and how has it developed over the years?
Ronald Attard: The idea started as a small ceremony in the USA, was then rolled out across a number of states and is now a global competition. It has literally taken a life of its own, particularly when it comes to connecting people. There are no entry fees or hidden charges and the local winner will be sent to Monaco at our expense. Ultimately, the reward is not monetary - it is connectivity, the support one gets and being part of this club. We believe there are a number of capable individuals in Malta who can utilise this opportunity.
Kevin Mallia: From the local scene we are giving recognition to entrepreneurs, but the real value of all this is the ability to network beyond the local scene.
Would SME entrepreneurs stand a chance, or is it aimed at larger businesses?
Ronald Attard: I don't believe it's connected to scale. One could have an idea that is still in its infancy, but it could be an extremely innovative one. Yes, there have been big business winners in terms of the global awards. However there have also been winners who are not entrepreneurs on a global scale. It's also not necessarily technology-related, and the winner could be a business that has a positive impact on the community. I encourage people from all corners of the business world to apply. I believe that Maltese people don't lack the drive, vision and entrepreneurial spirit needed to win.
Being an island we suffered from being insular. But in today's world this handicap has become easier to overcome.
Kevin Mallia: I don't believe it's a question of scale, either. If you're in business and have no real vision to grow, then I don't think you will stand much of a chance. If, however, you have a vision and the drive to grow, independently of your current state and scale, then you stand a chance of winning the award.