SUSTAINING ENTREPRENEURSHIP AND ATTRACTING NEW BUSINESSES The size, structure and type of ownership of many local enterprises, a tendency towards risk-aversion and a perceived lack of funding, support mechanisms and incentives all run counter to the culture of entrepreneurship needed for an innovation economy and towards attracting FDI. There are a number of ICT-themed measures that can be taken to support and improve the level of business entrepreneurial activity in Malta. 16. Supporting Collaborating with stakeholders, government will: entrepreneurship Invest resources to cultivate a widespread entrepreneurial mind-set, allowing for the launch of more ICT start-ups and young high-growth ventures exploiting ICTs. Special emphasis will be devoted to Gozobased entrepreneurial initiatives in view of the island’s difficulties in developing a mature ICT industry. Facilitate improved ‘access to capital’ programmes for start-ups, micro and small firms. This includes the setting up of a business angels network, incentives for crowd-funding and other investor schemes. Provide firms with incentives to deploy advanced ICT services in unprofitable areas. These could be interest-free credit, subsidies, or preferential tax rates. 17. Attracting FDI in ICT Measures will be taken to attract foreign ICT companies with the objective of transforming Malta into a regional hub for technological cooperation and trade. These will include: Corporate packages, structures and business models that target FDI in ICT ventures, start-ups, ICT educational collaborations and niche markets such as digital games, mobile apps and other creative content. Actively supporting SmartCity Malta and others involved in incubation or innovation activities. 18. Cloud Computing The government in partnership with industry will develop a strategy on ‘Cloud Computing’ aimed at establishing Malta as a world-class hub for the provision of cloud computing services, boosting innovation and productivity across the digital economy. 19. Digital Gaming Execute a Digital Games strategy in an attempt to strengthen what Malta offers operators in the sector, including improving the specialist skills base. National Digital Strategy 2014 – 2020 35