The third edition of the Youth 4 Entrepreneurship Gozo contest has been launched, with young people invited to share their business ideas related to the island’s needs and potential, with a specific focus on sustainability and digitalisation.
The contest is run by the Gozo Business Chamber (GBC), in collaboration with the Ministry for the Economy and Industry, Aġenzija Żgħażagħ, Bank of Valletta, and Europe Direct Gozo.
The GBC said the “overall goal of this initiative is to instill confidence in young people, enabling them to reach their full potential, and direct attention to the economic potential and challenges facing the island of Gozo, whilst encouraging young people to adopt an innovative approach to develop their business idea”.
This year’s Youth 4 Entrepreneurship contest will focus specifically on the areas of ‘Sustainability’ and ‘Digitalisation’, which are the two pillars on which the European Union is building its economic recovery.
The EU’s Green Deal seeks to combat climate change and environmental degradation by creating a modern, resource-efficient, and competitive economy where there are no net emissions of greenhouse gases by 2050.
Meanwhile, the digital sector is a sector which does not require space, and is not constrained by geographical limitations such as insularity. The GBC pointed out that Gozo has considerable potential to continue to grow in this area.
The priority areas are in fact aligned with those outlined in the Government’s vision for Gozo back in March, when Prime Minister Robert Abela said he would like “the island to progress strongly while prioritising aesthetics, making it a place where the economy and the environment are partners, not rivals.
“We want Gozo to be a pioneer in the implementation of new technology,” he said.
The Youth 4 Entrepreneurship Gozo contest is open to applicants between 16 and 30 years of age, who have until Friday 29th October 2021 to submit their proposal.
Applicants should be resident in the Maltese Islands but they do not necessarily have to be from Gozo.
Participants will then pitch their business idea in front of a panel of business experts on Friday 12th November 2021.
The best idea will be selected on the following criteria:
• Applicability to the Gozitan context – this means that any idea that is submitted must be related to Gozo.
• Innovative Approach
• Ability to solve a potential problem or to cater for a specific need
• Quality of the Pitch
The winner will then be announced at a later date. The winning idea will take home the amount of €500.
More information about the event and details about how to apply can be found here.
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The project will be funded using money from the National Development and Social Fund