More than 50 startups were awarded a total of €15 million in financial assistance to grow their operations. These businesses created around 250 quality jobs, with an average salary of €46,000, while for every euro invested in them they generated four euros in economic return.This was announced by the Minister for the Economy, Enterprise and Strategic Projects Silvio Schembri during the sixth edition of the Startup Festival.He emphasised that these results demonstrate the contribution of startups towards an economy based on innovation, productive investment and quality careers.The Minister explained that these enterprises operate in areas such as financial and educational technology, life sciences, semiconductors, digital gaming, esports, artificial intelligence and deep tech.“Startups are much more than new businesses. They represent new ideas, new ambitions and, above all, the confidence to challenge what already exists in order to build something better. It is this commitment that we must continue to encourage in our country,” Minister Schembri said.During his speech, the Minister recalled that the electoral pledge to ease the costs of setting up a business for young entrepreneurs was implemented within the Government’s first 100 days. This measure forms part of the commitment to ensure entrepreneurs find the necessary support at every stage, from the development of an idea to expansion beyond our shores.Minister Schembri also mentioned progress in the semiconductor sector. The first cohort of the incubation programme supported 12 chip design companies, four of which subsequently registered a company in Malta.Malta Enterprise Chief Executive George Gregory emphasised the importance of helping startups grow internationally. He remarked that Startup Festival Malta brings together founders, investors and industry leaders so that entrepreneurial ambition can be transformed into lasting economic value. By strengthening these links and providing the right support, Malta Enterprise aims to foster sustainable growth and help shape the next chapter of the Maltese economy.Tag someone who needs to know•