5 DIGITAL BUSINESS ECOMMERCE - GOING GLOBAL The local ICT Industry is a vital part of the economy, but it must target international markets if it is to advance. Digital technologies provide significant opportunities for growth through exporting. eCommerce extends boundaries. Products and services can be easily marketed and traded over the Internet, expanding markets from neighbourhood to global. While local firms can gain substantially from such opportunity, they also need to manage the challenges of eCommerce. 20. Widening horizons Government, working with industry bodies, will develop policies and incentives to: Enable ICT clusters to flourish. Technology development, innovation and internationalisation should be the main focus of clustering activity. Support may include seed funding, market intelligence services, and internationalisation services. Exploit Malta’s eGovernment expertise to develop training and consultancy services for other countries, especially those with cultural or traditional links in the Mediterranean or the Commonwealth. Promote the concept of ‘Born Global’ products and services. 21. ICT-focused incentive schemes Incentive schemes and voucher-based credit lines will be developed to enable local SMEs and co-operatives to benefit from free or subsidised consultancy services. This will help them adopt digital technology and innovative business models to both establish themselves online and internationalise their products and services. 22. eCommerce markets Government and industry stakeholders will: Develop measures to sustain and grow the local eCommerce market on both the supply and demand sides. Implement initiatives to assist and further drive the adoption of eCommerce by business sectors with the potential to capitalise on web technologies and penetrate foreign markets. Identify opportunities for Malta to attract business activities that operate or support global eCommerce markets. 23. Emerging electronic transactions 36 Government, working with payment providers, will develop an education programme to explain and promote different forms of electronic transactions and emerging monetisation models. The programme will explain business models, technologies, costs and risks.