Issue link: https://maltatoday.uberflip.com/i/936285
maltatoday SUNDAY 4 FEBRUARY 2018 46 Information Technology THE organisation of structured calls for start- ups started with three experimental calls be- tween 2015 and 2016, that typically adopted a top-down approach. In other words, we would identify a problem in a selected area of public administration or civil society, and we would ask the startups to find solutions for it. The idea was to test the market and the appetite for such initiatives. Eventually though, we de- cided to move on from this concept. Based upon lessons learned from these ap- proaches, we began to prepare for the first acceleration programme. This was branded YouStartIT. The name conveys the idea that a team of people would be given the opportuni- ty to start their own business revolving around something digital. The call was launched to- wards the end of 2016 and by the time it closed in February we received 19 applications cov- ering two different thematic areas. Startups were requested to either develop a business idea addressing a defined problem through digital technologies or develop games which can be used for teaching financial literacy and science. The principle we adopted was to always keep changing, testing new ideas and factoring in greater complexity from one call to the next. In 2017, YouStartIT2 was widened completely to 'any business idea as long as it is technologi- cal' and encouraged blockchain and Internet of Things, amongst other emerging technolo- gies. In this case, we received 27 applications. By then, we also brought on board our own in-house entrepreneur, Jarek Bialek, who has himself been a serial entrepreneur and gradu- ated from the Startup Chile accelerator. In total, up until completion of YouStartIt#2, a total of over 80 applications had been re- ceived, 21 startups selected and €400K dis- bursed. But for YouStartIT#3, which opened on 17th November, we made a big jump receiving 94 applications with over 55 per cent of them coming from diverse places as Columbia, Is- rael, Egypt, Tunisia, Italy and other European countries. For this intake, we will be testing new approaches such as a pre-acceleration bootcamp to coach and prepare the startups for the final pitch, and to get to know the teams much better; and the implementation of a Social Impact Programme. This is a point system that will see the startups chosen for the acceleration programme earn the remain- ing part of their cash grant. To do this they will have to organise meetups, talks, lectures and activities designed to give back value to the local startup ecosystem by contributing their knowledge and expertise in their areas of spe- cialisation. YouStartIT is probably one of the most struc- tured accelerator programmes in the Medi- terranean region and the involvement of the Maltese Government makes it quite unique. Applications are evaluated based on Team Credibility, Technical Feasibility, Product/ Market Fit and Business sustainability. The se- lected startups will receive up to €22K each, during the four-month programme. €15K of these will be given in cash and are disbursed in instalments against set milestones. The other €7K will be given through pro bono services. The latter exclude other pro bono services provided by our partners, such as PwC, Ganado Advocates and Grant Thornton. The startups need to register their business in Malta and be present for mentoring sessions, regular progress meetings and related activi- ties. The MITA Innovation Hub co-working space is also made available to the startups to use as office and/or a meeting place during the dura- tion of the programme. All in all, it's been a crescendo of successes. Starting humbly and adopting an open mind to new ideas has been fundamental. It is ex- tremely important that to innovate you need Record 94 applications submitted The YouStartIT accelerator programme reaches new heights Starting humbly and being open to experimentation was the key to it all - Deborah Schiavone, Events Organiser at the MITA Innovation Hub Through the first acceleration programme, branded YouStartIT, a team of people were given the opportunity to start their own business, revolving around something digital In YouStartIT, startups were requested to either develop a business idea addressing a defined problem through digital technologies or develop games which can be used for teaching financial literacy and science We have Jarek Bialek, graduated