Malta Enterprise & MCAST join together to help young entrepreneurs

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Malta Enterprise & MCAST join together to help young entrepreneursA Memorandum of Understanding intended to provide students with easier access to the entrepreneurial world and provide an eco-safe framework for innovative ideas to thrive, was signed today by Malta Enterprise and MCAST.

This framework will help students with innovative ideas to start and develop a successful business. As part of the agreement, Malta Enterprise intends to assign a number of units at the Kordin Business Incubation Centre (KBIC) to MCAST.

These units will be made available for selected MCAST final year students who individually or in groups will embark on projects with potential for commercialisation.

The parties agree to set-up a Projects Board that will be formed primarily to evaluate business proposals put forward by MCAST students. This board will be composed of MCAST officials and one Malta Enterprise representative.

At the signing of the agreement, the Minster for the Economy, Investment and Small Business, Dr. Chris Cardona stated that the Government acknowledges the important bond that lies between the world of work and education and that the main positive aspect which emerges from this agreement is that it will empower MCAST students to maximize their potential.

Dr.Cardona emphasised the importance of education as a crucial element for the creation of a work force that incorporates the elements required by the private sector to be able to operate competitively, efficiently and professionally, both on a national and an international level.

The Minister for Education and Employment, Evarist Bartolo, said that entrepreneurial skills should be ingrained in students from an early age. The risk-taking approach, so successful in countries such as the US, should be promoted and initiatives such as these help students make the transition from education to entrepreneurship.

During the press conference Dr Mario Vella, chairman of Malta Enterprise, said that Malta Enterprise is committed towards creating a culture of enterprise in the country. Dr Vella explained that there are other important projects that are being developed with MCAST and hopes that these will be announced to public shortly. These initiatives will help MCAST students to maximize on their learning experience by working closer to industry.

Dr Vella thanked MCAST for its collaboration on this initiative and anticipated that in the near future further collaboration will yield more positive results celebrating the creative and entrepreneurial spirit of MCAST students.

Dr Silvio De Bono, chairman of MCAST said “We are extremely proud that once again, we are associating ourselves with Malta Enterprise. This time through close collaboration that will see MCAST students provided with space within KBIC – an ideal place for our students to nurture, grow and launch their business ideas.”

“MCAST has embarked on a process to develop and support entrepreneurship as a key skill for our students. We are currently strengthening this area through the introduction of new developments including the setting up of an Entrepreneurship Committee to manage these initiatives and identify new ways of encouraging more students to develop their entrepreneurial potential. The College has also embarked on a process to develop entrepreneurship as an important curricular element across all levels.”

“Each MCAST institute has also appointed one of its staff members to act as an entrepreneurship champion who will provide students with the necessary guidance about start-ups. The signing of this agreement takes our collaboration with Malta Enterprise to a higher level and forms part of MCAST’s strategy to support and promote entrepreneurship” added Dr De Bono.

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