Malta ranks 4th in report on Startup Nations
Malta ranked fourth out of 21 countries that took part in the Startup Nations Standards Report released in March, scoring a perfect 100% in a number of metrics.
The report was issued by Europe Startup Nations Alliance, which was created in 2021 and is supported by 26 EU Member States and Iceland. The report is the second to be issued by ESNA and maps the progress and potential of Europe’s startup ecosystem, shedding light on the performance of eight different metrics (standards).The Alliance was set up to map the way forward for the EU to become a centre of excellence when it comes to innovation and entrepreneurship. It found that so far, Europe had reached 55% of the standards of excellence – while Malta had reached an impressive 73% overall, putting it in fourth position.Most countries measured in the report are already delivering best practices for digital services and regulatory innovation. However, there were gaps when it came to social inclusion, via programmes and funding diversification.In the first standard, for ‘fast startup creation and smooth market entry’, Malta ranked 1st with a 98% score.In the second metric, for ‘attracting and retaining talent’, Malta and Croatia were the only two countries to score a perfect 100%. In the 4th standard for ‘innovation in regulation’ and the 5th for ‘innovation in procurement’, Malta ranked fifth.Malta also scored a perfect 100% in the 8th standard, for digital channels, an achievement only matched by Estonia.The full report is available here: www.esnalliance.eu/standards/