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As the video gaming landscape continues to evolve, Malta has seized the opportunity to position itself at the forefront of this digital revolution. From the establishment of international video game development studios to the hosting of major gaming events, Malta is carving a niche for itself in an industry that knows no boundaries. This insight delves into the recent Playcon 2023 event, where Grant Thornton played a pivotal role in facilitating a panel discussion on "Unleashing Potential: Growing Your Games Business in Malta."
Playcon 2023 served as a dynamic platform for engaging discussions among key stakeholders, ranging from representatives of governmental institutions to video game developers and publishers. Industry leaders shared their insights on what makes Malta an attractive destination for video gaming companies. The focus extended beyond the picturesque landscapes to the strategic initiatives and progressive mindset that are transforming Malta into a premier gaming business platform. This was also an opportunity to share ideas and opportunities to enable the growth of the video gaming ecosystem in Malta, identifying the needs of video game developers and industry players.
Funding and Industry Focus emerged as the central themes resonating through our continuous discussions with various stakeholders. Hence, this was the focus of our insights during Playcon 2023, alongside representatives from Malta Enterprise, Gaming Malta and The Malta Council for Science and Technology. the contributions of stakeholders at Playcon 2023.
At each stage of the lifecycle of a business, different forms of financing and resources are required. While there are various opinions and interpretations of what is needed at each stage of a business’ lifecycle, these can be categorised as follows:
Grant Thornton, in collaboration with institutions such as Malta Enterprise, delved into the strategic initiatives available for video gaming companies at every stage of their lifecycle.
Pre-seed and Seed Stages: At these crucial stages, where research and development are paramount, video gaming companies can tap into various grant schemes administered by Malta Enterprise and The Malta Council for Science and Technology. Additionally, Gaming Malta runs an accelerator program offering subsidized office space and valuable knowledge workshops.
Commercialisation and Growth: Malta Enterprise takes on the role of attracting new foreign direct investment and facilitating the growth of existing operations. The initiatives encompass attractive tax incentives and loan assistance schemes, ensuring that video gaming companies have access to the necessary financial resources. Further financial support is available through schemes administered by the Malta Investment Management Company (MIMCOL) and the Malta Development Bank (MDB).
European Funding: Grant Thornton's presence at Gamescom 2023, the world's largest event for computer and video games, facilitated connections with Creative Europe representatives. They expressed eagerness to assist Malta-based video gaming companies through various funding schemes.
MGI Venture Capital Fund: The Government of Malta's commitment to growing the private equity ecosystem includes the establishment of a Venture Capital Fund. This fund aims to provide equity investments in innovative technology start-ups, with video gaming identified as one of its target sectors.
In the intricate world of video gaming, where creativity and innovation drive success, maintaining an unwavering focus on core business activities is paramount. Many gaming companies, therefore, find themselves hesitant to explore funding opportunities and support schemes. The fear often stems from the perceived diversion of attention away from the core business functions of creativity and innovation. Recognizing this concern, Grant Thornton steps in not just as a financial partner but as your comprehensive support system, enabling you to concentrate on what truly matters - developing the next groundbreaking video game.
As a solutions-oriented firm, Grant Thornton takes pride in being more than just advisors. We are a team of industry-focussed professionals, including regulatory experts and digital transformers, ready to navigate the intricate landscape of Malta's gaming industry alongside you. Our commitment is to provide tailored solutions, ensuring that your focus remains dedicated to the creative heart of your business.
Engaging with Grant Thornton means entrusting your financial and operational complexities to a dedicated partner, allowing you the freedom to channel your energies where they are most needed. Here's how we seamlessly become an extension of your team:
By engaging Grant Thornton, you aren't just outsourcing tasks; you're gaining a strategic partner dedicated to amplifying your success. Together, we shape the future of gaming, enabling you to innovate and create while we navigate the complexities that surround your business.
Ready to elevate your video gaming business? Connect with Grant Thornton and experience a partnership where your vision thrives, and your focus remains steadfast on your core business activities. Let us handle the rest - because your creativity deserves an unbridled stage.
