Minister for the Economy and Industry Silvio Schembri says that Malta is once again at the forefront of European technology policy
Start-ups and small and medium-sized technology businesses now have the support of a virtual platform to test their products, before entering the market with a finalised quality product in line with international standards which protect the consumer. This was announced by Minister for the Economy and Industry Silvio Schembri during a press conference held at the offices of the Malta Digital Innovation Authority (MDIA). Named the ‘Technology Assurance Sandbox’, technology developers now have the possibility to be assisted by the MDIA to develop and build technologies in a virtual incubator, in line with internationally recognised standards and practices.
Minister Schembri explained how start-ups and small and medium-sized businesses which are developing digital products or services that work with innovative technologies – such as DLT, AI and even technologies used in essential services such as those in the IT sector, health, safety and transport amongst others – can now participate in this virtual incubator.
He pointed out that through the ‘Technology Assurance Sandbox’ enterprises participating in the MDIA program will be assisted to improve their product, so that within a maximum of two years they would be eligible to reach the highest level of certification from the same authority.
Minister Schembri added that the main intention of the government is to continue to improve and strengthen the digital local product of our country. On the one hand, there is the supplier who will be able to sell a product that is fully functional. On the other hand, there is the confidence of the investor/user who will invest or buy a product which has passed rigorous tests of the highest standards and recognised at European and international levels which reflect the high quality of the same product.
He mentioned how once again, as a country, Malta was at the forefront of European technology policy. Digital issues which the government spoke about two or three years ago are now being discussed in the European Union—the certification of products that use Artificial Intelligence is, for example, a case in point.
He noted that even when it comes to this ‘technology sandbox’ platform, this was a recommendation presented by the EU a few days ago. Therefore, as the minister said, this shows Malta’s level of innovation. With such an initiative, Malta will be in a position to offer a test bed for both international companies as well as Maltese companies which are developing technologies built on AI, so that they can be guided and are gradually able to comply with the certification when it comes into force through EU regulation.
Minister Schembri referred to the Ministry for the Economy and Industry’s achieved objectives in terms of successful trade across the globe in traditional sectors such as manufacturing. He said that he looks forward to seeing such a model replicated and grow with the same level of optimism in the sector of digital product development.
In his concluding remarks, the minister spoke of how investor and user confidence in the developed technological product will remain a crucial tool. Thus, the MDIA will continue to work on the robust certification program for Innovative Technology that has been developed, where the necessary scrutiny by a professional and independent team of auditors would have been conducted.
MDIA Chairperson Joshua Ellul said that, “Today, we are launching a world-first technology-focused sandbox, whilst other jurisdictions are only just catching up with regard to technology assurance requirements. The EU, through its Digital Finance Package, has initiated work towards the direction of providing technology assurances, proposed within the Digital Operational Resilience Act (DORA). Being ahead of its time, as the EU works towards harmonisation, the MDIA will be able to quickly react given the wide spectrum of regulatory tools it has developed and are at its disposal”.
Photos: DOI/MEI
