Malta moves up in European Innovation Scoreboard

According to the latest European Innovation Scoreboard (EIS), Malta's overall innovation score has increased by 16.7 points since 2018, representing one of the more significant improvements in the EU.

In 2024 alone, Malta recorded an annual increase of 7.6 points, the highest increase among all Member States. This places Malta above countries like Slovenia, Spain, the Czech Republic, and Italy, now placing the country in the "Moderate Innovators" category. 

The EIS is the EU's primary tool for measuring and comparing innovation performance, evaluating countries across 32 indicators and classifying them as Leading, Strong, Moderate, or Emerging Innovators. Malta's current standing in the top position of the moderate innovators category suggests it may potentially join Europe's more advanced countries.

In a statement, the Economy Ministry said that the progress is supported by consistent efforts across several key pillars of innovation. Enhancements have been observed in education and talent, with an increase in graduates, STEM skills, and lifelong learning initiatives. 

The area of intellectual property has also witnessed growth in trademarks, designs, and the export of digital services. These trends, the ministry said, align with the Malta 2050 Vision.

The ministry reminded that government launched a public fund of €10 million in 2024 for investment alongside private capital. This fund is intended to match private capital up to a maximum of €500,000 per startup and has supported a number of Maltese enterprises.

This initiative is complemented by a broader range of measures and schemes aimed at bolstering the startup scene such as a startup financing scheme, 35% tax credits for investors, and funding for startups working in research and development.