Taking the LEAD

With technology being identified as one of the key drivers to boost Malta’s economy, Tech.mt is com- mitted to ensuring that technology is used as a tool to empower digital innovation and establish Malta as a European model for the deployment and pro- motion of emerging technologies. This is how Tech.mt is taking the LEAD in enhancing Malta’s status as the technology hub of choice in today’s digital ecosystem:

Levitating the digital economy

It is evident that as the economy continues to reboot, we will see a more digital economy and a more digital society. As Tech.mt, we yearn to see such transformations but also pledge to drive such transformations in the most resilient, inclusive, and effective manner possible.It is evident that if we really want to rescue and safeguard our economy, we need to enhance the role of the digital economy and create new competitive strengths. Integrating the digital economy and exploring new ways by which technological systems may be optimised and fused in our industries and social systems will offer unprecedented value to our businesses and society at whole. By giving prominence to the digital econ- omy, we are actively choosing to become more economically sustainable and recognising a new engine for growth and productivity. Tech.mt believes that through digital skill building, there is enormous potential in boosting the contribution digitally skilled workers have to Malta’s economy.

Enabling digital transformation

The notion of “digital transformation” has seen a huge surge in popularity on all forms of platforms, from social media and news agencies to govern- ment strategies and European agenda.

Whilst yes, the pandemic has accentuated such discourse about the dire need for businesses to dig- itally transform themselves, digital transformation should not be regarded as merely a buzz word or simply an idea reserved for large corporations. Due to the constantly progressing nature of technology, digital transformation is not something that comes with a finite budget and predetermined timeframe. It is an ongoing process that requires commitment, innovation and assistance.

Accelerating connectivity by bridging the digital gap

The increasing dependency on digital tools and platforms during the COVID-19 pandemic has exposed the digital gap across different segments of society. Unreliable and unaffordable access to internet or the inability to utilise digital platforms make it almost impossible for the underprivileged or disadvantaged tiers of society to stay abreast recent challenges. Tech.mt has firmly pledged its commitment to ensuring that those left behind con- tinue to receive opportunities to be able to cope with the insecurities COVID-19 has brought to bear. One of the main lessons emerging from the crises has also been the dire need for businesses to go digital and offer e-commerce solutions for consum- ers. It’s not easy at the moment to convince busi- nesses to invest in digital transformation because they are still dealing with the shock of the COVID-19 pandemic. However, many admit that it was even more shocking to not have digital presence and lose sales overnight once global economies were brought to a standstill. When speaking about nar- rowing the digital divide, Tech.mt believes in limit- ing the divergence between tech-savvy businesses and small businesses which struggle to cope with offering their services online. To this end, Tech.mt proactively encourages businesses from all sectors of the economy to adopt the process of digitisation.

Discovering new opportunities for collaboration

If the pandemic has taught us anything, it is that collaboration is vital towards reaching new heights in terms of growth, prosperity and excellence. The challenges being faced by our economy and socie- ty have imposed tremendous pressure on our gov- ernment, ministries, national entities and business- es to remain relevant and effective during such turbulent times. It has also prompted leaders and top management positions to cautiously engage with today’s new reality and empower new areas of collaboration and success. Whilst today’s digital economy comprises multiple facets and functions, it would be a huge fallacy for all players driving the digital economy to operate independently and unaided. In a few words, an ecosystem in which each player protects its own knowledge and inter- ests will simply not work. Looking at Malta’s key players behind its shift towards a digital economy, there is a clear opportunity for enhanced collabora- tion in which various elements may be addressed. By acknowledging the strengths and resources of each player and focusing on utilizing them to the fullest extent possible, Tech.mt strives to give significant impetus to convergence and collabora- tion.As CEO of Tech.mt, I believe that this unprece- dented new era calls for visionary leaders who despite their differences, can maintain a strong equilibrium between competition and collaboration and push for new frameworks to co-exist. Seeking new and innovative areas for collaboration, despite the divergences, is the novel art of leadership.

While the potential of the digital economy is indeed significant, the equivalent opportunity through a stronger digital infrastructure and connectivity, enhanced collaboration, and a strengthened digital skills-base, is particularly important considering Malta’s ambitions.

“It’s not easy at the moment to convince businesses to invest in digital transformation because they are still dealing with the shock of the COVID-19 pandemic. However, many admit that it was even more shocking to not have digital presence and lose sales overnight once global economies were brought to a standstill.”

Dana Farrugia, CEO – Tech.mt
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