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Art as a Business - Fostering the growth of the creative arts community.

The Ministry for the Economy, Enterprise and Strategic Projects and Malta Enterprise in collaboration with the Ministry for National Heritage, Arts and Local Government have launched a project together with ARTZ ID aimed at fostering the growth of the visual art community within the Kordin Business Incubation Center (KBIC) through an innovative partnership.
The Minister for National Heritage, Arts and Local Government Owen Bonnici explained that this new scheme for creatives at the Kordin Business Incubation Center will make a difference in order to promote the creative community, which in recent years has grown and strengthened, and which must continue to grow the entrepreneurial field.
"This collaboration will offer different opportunities for artists and art professionals, including access to renting studio space at KBIC, professional guidance from ARTZ ID, lectures, exhibitions, and expos. This collaboration will continue to facilitate the improvement of skills, artistic development, knowledge sharing, networking, collaboration and creative inspiration between local artists," continued Minister Bonnici.
He said that the Government believes in the potential of the creative economy and said that this collaboration will continue to strengthen the commitment in this regard.

The Minister for the Economy, Enterprise and Strategic Projects, Silvio Schembri, emphasized the significance of this initiative, and stated, "Today, we are here to offer an opportunity, for art to continue to grow as an enterprise. In recent years, we have seen significant employment growth in the creative sector, with employment opportunities in the creative sector increasing from 3,065 in 2013 to 7,187 last year."
He continued, "We want to offer this opportunity today, with the hopes of echoing the success achieved by individuals like Marco Parascandolo, a Maltese brand which started from KBIC and has now established itself as one of the largest local brands. We know that the beginning of business is challenging, which is why we want to support individuals to fulfill their dreams."
Schemes and Innovation

Minister Schembri also highlighted several schemes offered by Malta Enterprise for start-ups, such as the B.Start Scheme, Start-up Finance, and Micro Invest Scheme. In addition, he announced the upcoming opening of the Venture Capital offices, a new concept for Malta, with a €10 million fund aimed at providing equity investment in start-up companies focused on innovative technologies.
"We believe in innovative technologies, research, development, and innovation to create new horizons and new economic sectors. This is what we are doing, and this is what we will continue to see done," stressed Minister Schembri.

This collaboration will not only shape the creative landscape at KBIC but also contribute to Malta's growing reputation for fostering innovation and entrepreneurship in various sectors.

Art as a Business

Kurt Farrugia, Chief Executive of Malta Enterprise, emphasized the interconnectedness of art, business, and enterprise, and stated, "The first impression may be that art, business, and enterprise are separate fields, with different philosophies, knowledge, methods, goals and thinking. However art and enterprise have fundamental characteristics in common. We encourage artists to come forward and take advantage of these services and the space we are offering here at KBIC."

Maria Galea, director of ARTZ ID emphasized that this collaboration together with Malta Enterprise and the KBIC center facilitates the integration of the visual contemporary Art sector in this space. She went on to say that "We have created a program of initiatives, both of spaces for creatives, as well as a program that encourages mentorships, events, exhibitions, which integrate not only the artists but the people who work in this the sector".

The Government has always believed in research and innovation and therefore entities like Malta Enterprise will continue to give full importance to this sector. The advancement made in these sectors have had a positive impact on the economic position of our country.

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