Workshops at the Kordin Business Incubation Centre are being reserved for start-ups by MCAST students following the signing of an agreement between the college and Malta Enterprise this afternoon.

At present, six workshops have been allocated to MCAST students, although Malta Enterprise chairman Mario Vella noted that this space may increase in the future. Plans to expand the KBIC already exist, he pointed out.

MCAST chairman Silvio de Bono said that the first MCAST students will be setting up their start-ups at the KBIC in the next scholastic year. Prospective candidates will be assessed to select the projects which have the greatest chance of developing into successful enterprises, and will be receiving training along the way.

Students who move to the KBIC would not only be provided with appropriate facilities until they develop their business, but would also receive guidance from MCAST lecturers, as well as mentoring from outsiders including people with a business or banking background.

But Dr Vella stressed that their experience at the KBIC would not be an extension of the classroom: those whose projects are accepted will effectively be starting a business, with the expectation that they move out of the incubation centre and compete in the open market in due time.

Dr Debono emphasised that the agreement was only a small part of MCAST’s efforts to foster entrepreneurship in its student body, stating his belief that MCAST students in any course, and at all levels, should receive training in entrepreneurship.

Education Minister Evarist Bartolo concurred with this sentiment, stating that people are not necessarily born entrepreneurs but may become so, and emphasising the need to encourage entrepreneurship at an early age. He argued that a change in mentality was needed in Europe, to view failures as a learning experience instead of seeing them as a sign to return to one’s comfort zone.

Economy Minister Chris Cardona stressed the economic importance of education, noting that it was pointless to seek to attract investment if a lack of skilled employees existed.