Last October, Malta’s Start Up Festival hosted a lively panel debate featuring representatives from EdTech and MedTech, who shared insights about the challenges, opportunities, and growth potential in both fields. The discussion focused on nine important questions, with each participant passionately advocating for their sector’s role in Malta’s innovation landscape.
The debate began by exploring the main challenges of starting tech companies in Malta. For MedTech, a significant issue is conducting clinical trials in a healthcare system that is already stretched thin. It was mentioned that the National Health Service struggles to find medical professionals willing to take part in technology trials, a challenge made worse by the ongoing effects of COVID-19 and an aging population. In contrast, EdTech representatives highlighted a lack of skilled workers, with too few people interested in or prepared for the demands of a start-up career.
Human capital is one of the biggest challenges as there are not enough people wanting to work or already work at a start-up
They emphasized the need for better education on entrepreneurship to attract more talent to the start-up sector.
The panellists also highlighted the importance of staying focused on real-world needs in both sectors. MedTech representatives cautioned start-ups against creating technology just for the sake of it. They argued that healthcare solutions must address the actual needs of patients and healthcare workers, rather than simply following trends
My advice is, don’t focus on trendy technology, but on useful technologies.
Meanwhile, EdTech pointed out the common belief that education technology is only for schools. In reality, it includes areas like corporate training and product education, which could expand its use beyond traditional classrooms.
Both sectors acknowledged the fast-changing rules regarding technology, especially related to AI. MedTech representatives explained that AI used in medical devices must follow strict regulations because these devices are classified as high-risk. While ensuring patient safety is essential, there is hope that these rules will not hinderinnovation. In contrast, EdTech saw new AI regulations as a chance for growth. The ability of AI to tailor education to individual learners could change the field dramatically if start-ups can use this technology wisely.
Throughout the discussion, the need for more support within Malta’s regulatory and business environment became clear. MedTech representatives called for clearer guidance from regulatory bodies to help start-ups navigate the complex rules about device classification and trial approvals. Similarly, EdTech participants stressed the importance of creating collaborative spaces, like roundtable discussions, where start-up founders can share ideas and work through challenges together.
When discussing which sector might grow faster over the next three years, both sides presented strong arguments. MedTech representatives highlighted the growing use of telemedicine, wearable devices, and AI for diagnostics as promising growth areas. They noted that the aging population and pressures on national healthcare services make these solutions increasingly important. On the other hand, EdTech advocates believed their sector could grow faster because it faces fewer regulatory hurdles and there is a rising demand for digital learning tools.
In summary, the panel showcased the different but complementary ways EdTech and MedTech can succeed in Malta. Both sectors have great potential to transform their fields, and with ongoing regulatory and financial support, they can drive Malta’s next wave of tech growth.
Janos Barberis closes the discussion with one last piece of advice.
Try entrepreneurship for 10 years, and only after those 10 years can you decide whether to continue or not. I believe that’s the best advice I’ve given myself, as it helps smooth out the rocky bumps along the journey.
