Michael Joe Cini
20th October 2023
The role of MDIA in the med-tech industry
The second day of the Med-Tech World Summit saw a continued consistency in the quality of truly insightful and ground-breaking panel discussions and keynote addresses.
Nearing the end of the conference day on the 20th of October the much-anticipated keynote from the Malta Digital Innovation Authority (MDIA).
Presented by the authority’s CEO, Kenneth Brincat, the keynote continued the proceedings on the La Vallette stage in the MCC with a speech dedicated to communicating the goals and ambitions of an organisation at the forefront of its industry.
Focusing on the island’s vision for the med-tech industry, Brincat began by stating that this approach is predicated on technology and regulatory excellence.
Malta’s med-tech industry by all accounts has experienced exponential growth, he referenced the insights and great interest shown at the med-tech World Summit as a key element towards this point.
This growth has been largely due to two pillars of the emerging technologies field today, artificial intelligence (AI) and data analytics.
Commenting on these influences Brincat stated:
“These innovations promise a future of efficient personalised and accessible healthcare.”
He stressed that these innovations and ideas are all being propagated with the intention of elevating the global quality of life.
Malta’s strategic position
When focusing on Malta, Brincat explained that Malta’s position in the Mediterranean added to its priority focus on digital innovations, has now positioned Malta as a significant player in the med-tech industry.
This unique structure not only attracts investors but also encourages a diverse pool of talent from both Europe and the international community at large.
This is now establishing the archipelago as an ideal hub for pioneering med-tech solutions.
The role of MDIA
The MDIA has been at the forefront of regulating technology and supporting the development of innovative technology sectors.
Brincat described the MDIA’s role within a tripartite model, as facilitator, enabler and regulator.
The MDIA is intent on stimulating the entrepreneurial market, while its regulatory framework ensures the safe use of innovative technology.
Additionally, the MDIA’s international partnerships are poised to open doors for Maltese med-tech companies offering opportunities on a global scale.
Technology Assurance Assessment Framework
Devised to encourage innovation throughout the Maltese entrepreneurial landscape, including most notably endeavours within the med-tech sector.
Along with this, the framework also works as a quality assurance system, analysing innovations against a number of standards predicate don risk level.
This then allows businesses to acquire the TAAF certification allowing many companies to position themselves with an assured advantage.
Brincat then concluded his keynote by shedding some light on Malta’s digital innovation hub, known as DIHUBMT.
This hub powerfully connects med-tech start-ups with European funding opportunities.
Along with this it also provides market entry support, access to a European network as well as bringing training programmes to upskill the local workforce.
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