As the Foundation for the Promotion of Entrepreneurial Initiatives (FPEI) celebrates ten years of supporting local entrepreneurs and challenging the traditional paths to business success, FPEI Foundation Manager Giselle Borg Olivier reflects on how it has transformed Malta’s startup and entrepreneurial ecosystem.
Ten years ago, the word ‘entrepreneur’ in Malta was often interchangeable with ‘self-employed’, and access to funding for early-stage ideas was limited. Today, Malta boasts a growing ecosystem of founders, freelancers and small businesses who are not only building ventures, but collaborating, sharing knowledge and looking for opportunities beyond the conventional.
The Foundation for the Promotion of Entrepreneurial Initiatives (FPEI) has had a critical role in helping shape that evolution – and it was born out of a real need. An in-depth research study in 2015 by EY Malta on behalf of the Malta Business Bureau showed that one of the key barriers to entrepreneurship in Malta was access to finance. That discovery led to the creation of Zaar – Malta’s first and only reward-based crowdfunding platform – and with it, the establishment of FPEI through a partnership between the Malta Business Bureau and the University of Malta.
FPEI’s mission was – and still is – to promote and support entrepreneurship in Malta, by providing comprehensive support and promoting a thriving ecosystem for startups, small and medium-sized enterprises (SMEs) and freelancers. We also promote a growth mindset and strive to nurture local entrepreneurial spirit.
Over the years, countless people have benefitted from FPEI’s initiatives, whether by raising funds through Zaar, attending our events or taking part in one of the several EU projects we’ve led or supported, which have helped to expand educational resources and tools related to the entrepreneurial sector.
Zaar remains our flagship initiative, allowing individuals with a passion project to get initial funding through non-traditional sources. Before it launched, to get a new idea off the ground meant bank loans, government grants or personal savings. Crowdfunding opened up an alternative path: one which allowed entrepreneurs to take their ideas to market at an early stage and receive both market validation and funding – two very important aspects for a new business. That critical early stage of an enterprise’s lifecycle, where too often good ideas die, suddenly had a viable financing option that is not only complementary to the traditional sources of finance but also helps entrepreneurs to build communities around those ideas.
Alongside funding, FPEI has always been committed to education. Initiatives so far have ranged from casual knowledge-sharing meetups to formal training courses, including several tailored to different communities. One such course was Entrepreneurship for Creatives, launched through an agreement with Arts Council Malta and run independently by FPEI, which ensured that creatives in Malta had the business skills necessary to find success in their creative business ventures. Another, Entrepreneurship for People with a Disability, mirrored an initiative already running in Ireland. Thanks to the foresight of former FPEI Chair, Joe Tanti, FPEI piloted it in Malta in collaboration with Technological University Dublin and the Edward de Bono Institute at the University of Malta, with the support of Malta Enterprise. We are hugely proud to be leading educational entrepreneurial initiatives in these spaces and we encourage people to make the most of these opportunities.
The Maltese have always been entrepreneurial, yet the title of ‘entrepreneur’ may not be one that many associate with. While the local ecosystem has matured and become more structured over the past decade – offering many opportunities, larger networks and more resources available than ever before – increased competition today also spells challenges.
I believe our mindset will ensure Malta’s entrepreneurial landscape continues to thrive. Being entrepreneurial is not just about having your own business, but is a state of mind. It’s about making the most with what’s available, in whatever situation you’re in. Whether you’re an employee, self-employed or a stay-at-home parent, having an entrepreneurial mindset will help in decision-making moments and beyond.
Of the many events we have organised to bring Malta-based entrepreneurs together, our latest offering is Future Founders Plus, a membership club that is open to all in Malta’s entrepreneurial community. Future Founders Plus enables people who see the value of an entrepreneurial mindset to come together to collaborate, share and learn – and possibly even do business together.
Looking ahead, I’m genuinely excited by the energy we see in the local entrepreneurial and startup scene. It’s all about innovation and networking – meeting people with new, fantastic ideas.
As for FPEI, we want to continue to foster and empower entrepreneurship in Malta, by offering the opportunity of crowdfunding to new initiatives and through our monthly Future Founders Plus events, where we bring together bold and driven people to share their insights and experiences, for the benefit of everyone across Malta’s business community.
Last modified: 09/06/2025
