Percolating since summer, when the Malta Business Bureau and the University of Malta signed a agreement to develop a crowdfunding platform to finance local business ideas and projects, the venture announced the launch of its first crowdfunding platform, ZAAR. Spearheaded by the Foundation for the Promotion of Entrepreneurial Initiatives, a joint venture between the Malta Business Bureau and the University of Malta, ZAAR is also supported by the Ministry for the Economy, Investment and Small Business and the Arts Council Malta, according to The Times of Malta.
“Besides giving you the money you need to start your business, successful crowdfunding also gives you the confidence you need to persevere and see things through,” ZAAR manager Karl Grech commented at the launch.
The platform introduced its first rewards-based campaign, Feelings, created by Michelle Trabelsi. Feelings, an anonymous social media app, is a platform where users can express their thoughts at any moment using both pictures and text, remaining entirely anonymous. Users may post both positive and negative feelings and receive responses from other members.
The campaign, with a €20000 goal, has experienced a slow start, raising nil funds to date. Money raised will expand the app’s use from Android. Part of the siliconmalta project, which was established at the beginning of 2015, team includes entrepreneurs Travis Laurendine and brothers Oliver La Rosa and Sascha La Rosa, the owners of a Global IT company headquartered in Malta. The initiative seeks to bring global developers to Malta, raising the knowledge of the country’s culture and history.
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