InboundMuse is the first start-up to benefit from the MCA TAKEOFF Award and was presented with a seed fund of €19,968, during a ceremony held on Tuesday 20th January, in the morning. The Award is a joint initiative between the Malta Communications Authority (MCA) and the University of Malta as a result of a collaboration agreement signed between both organisations in October 2014.
The award was presented to InboundMuse founders Mr Tyron Lloyd Baron and Mr Neville Bezzina by Dr Edward Woods, Chairman of the MCA and Professor Juanito Camilleri, Rector of the University of Malta. This award is aimed at supporting local start-ups in the development of innovative business ideas in communications, with a view to take such ideas to the commercialisation stage. Through the campus-based TAKEOFF Incubation Centre, the University will support the project by offering office facilities and dedicated business mentorship.
Thirteen very interesting start-up ideas were in competition for this funding. Topping the list, InboundMuse proposed the development of a Software-as-a-Service solution through which business clients, particularly SMEs, are given the tools to monitor their inbound-marketing strategies. The idea promises to provide business value by leveraging on Artificial Intelligence (AI) to exploit big data - data which is too large and complex to be processed cost-effectively by humans.
In presenting the award, Dr Woods stated that “InboundMuse is an excellent example of how ICT and entrepreneurship can blend harmoniously to create innovation and business value”. “Malta’s relevance within a future ICT-enabled globalised economy will greatly depend on its ability to produce world-class enterprise that competes and adds value beyond its shores”, continued Dr Woods.
Prof Camilleri said that “whilst such start-ups may initially appear immature and risky due to the lack of experience and resources, too often nimbleness, independence from legacy ties and ingenuity gives them good success prospects in an ever-more disruptive business context”. He added that “through such projects and collaborations, knowledge is tangibly transferred from academia to business applications and the economy in general”.
Whilst thanking the MCA and University for the award, Mr Lloyd Baron said that”the award will provide an invaluable opportunity to the InboundMuse team to take forward and develop their business idea”. Further information about TAKEOFF can be found at www.takeoff.org.mt
. Information about the MCA and its activities can be accessed at www.mca.org.mt