Manager of the University Business Incubator, Ben is a seasoned technology commercialisation advisor with more than 10 years’ experience helping technology entrepreneurs and researchers around the world prepare for the marketplace and successfully raise public funding and private investment. Ben was a highly-rated technology equities analyst at London-based investment bank, and led spinoff company development at TEC Edmonton, the technology transfer group at the University of Alberta, Canada. He also ran his own technology startup consulting business. Ben holds an MBA (Technology Commercialisation) from the University of Alberta's School of Business.
Ben is excited about the launch of the University Business Incubator, to be located later this year in the soon-to-be-vacated Computer Sciences Building in the heart of the university campus.
The incubator will be home to a technology spinout and accelerator programme designed to enable university-based technology entrepreneurs create high potential, sustainable businesses – taking them from idea to investment and launch. By providing access to business advisers and mentors, training, shared space, professional assistance and capital and other resources, the incubator will close the knowledge and resources gap experienced by early-stage technology entrepreneurs as they embark on their startup (ad)ventures.
What was the idea behind TAKEOFF?
In Malta there is no shortage of good ideas for innovative products and services. What is often missing are the practical knowledge and initial funding necessary to take the innovations to a stage where they can attract their first customers, commercial partners or first rounds of investment finance. Budding technology entrepreneurs in Malta need plenty of nurturing and guidance to get their innovations off the ground and into the marketplace. A supportive and well-connected entrepreneurial community is what’s needed to transform Malta’s aspiring start-ups into commercial ventures that will prosper and grow the economy.
How does TAKEOFF help innovators and aspiring entrepreneurs create successful technology and knowledge-based ventures?
Opening its doors to researchers, students and aspiring technology entrepreneurs, the TAKEOFF incubator provides them with two floors of co-working and private office space to plan, launch and grow businesses. There, they get the support of the TAKEOff team and its network of mentors and advisors and private investors, who will help them in their efforts in company development, raising investment, and getting technology products and services into the marketplace. TAKEOFF will also host regular training, education and networking events to bridge the skills and knowledge gap experienced by young entrepreneurs. Members of the incubator will be eligible for funding through the €100,000 TAKEOFF Seed Fund award. Joining research and innovation with the world of business, TAKEOFF will be a lively hub for learning, collaboration, creativity and successful business creation.
What steps take an idea to investment and takeoff?
TAKEOFF will help entrepreneurs and start-ups critically assess their business ideas and innovations and determine the best route for getting their ideas into the marketplace. We work with the entrepreneur to create a tailored development plan that includes milestones and deliverables to set them on a pathway for success. We help them consider ways to protect their ideas by way of patent protection or copyright. We support them as they develop prototype products that can be tested in the marketplace and gain valuable feedback from users and prospective customers. That feedback shapes business strategies that attract customers and ultimately private investment needed to finance further business growth. TAKEOFF aims to transform members' start-up ideas into sustainable businesses with the resources necessary to graduate from the incubator and flourish on their own in the marketplace.
MARVIN ZAMMIT, director of a start-up software company that is already operating also added his contribution.
Based at the TAKEOFF incubator, Mighty Box Games is a digital game developer focused on creating ground-breaking games for the international market. The first team to join TAKEOFF, Mighty Box is taking advantage of the support and services on offer at the incubator.
Marvin Zammit, CEO says, "Setting up a new company can be daunting, but TAKEOFF is giving us the office space, support and encouragement we need straight from the start. The office and lounge facilities are great and we are surrounded by entrepreneurial-minded people, all striving to succeed, which creates a very positive working environment."