The Startup Malta Foundation in collaboration with its partners Malta Enterprise, Island Hotels Group, Il-Bord tal-Koperattivi and Secretariat of Competitiveness and Communications, launched the “Get BIZZY!” business plan competition, a few days ago.

This event was attended by participants, the Startup Malta Foundation team, partners sponsoring the competition and guest speakers including parliamentary secretary Edwin Vassallo.

In its fifth year, the business plan competition gives participants the opportunity to take part in a realistic business game, networking with some of Malta’s leading business professionals while competing against other teams to win this year’s prize of E5,500.

Participants receive an entrepreneurial training course, which teaches them to create ideas, business plan writing, funding sources for business start-ups and market research, preparing for investors and so on.

Startup Malta also organises a “mentor programme” and provides incubation support for competition finalists interested in starting up their own company.

Project manager Richard Muscat said that Startup Malta’s mission was to provide a practical experience of life to young entrepreneurs who dream of being their own boss.

Mr Vassallo said the younger generation of Maltese had everything at its fingertips, but was afraid of taking the leap and reaching out to grab the opportunities that came their way.

He invited the participants to exploit opportunities in new EU countries.