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Malta launched the Artificial Intelligence Research Fund

Malta launched the Artificial Intelligence Research Fund

The government is urging those interested in Artificial Intelligence to apply for financing until 31 March

On 11 January, the Maltese Minister of Economy and Industry, Silvio Schembri, launched the Artificial Intelligence Research Fund. More specifically, he announced that the government has allocated EUR 125,000 to support AI research, which will benefit both the public and private sectors.

With each passing day, Artificial Intelligence (AI) is becoming more and more popular. From intelligent personal assistants such as Alexa to autonomous vehicles, it is rapidly becoming a part of our day to day lives. Knowing that AI has the power improve a variety of services such as healthcare, the government is now seeking ways to promote research in the field.

Thus, Minister Schembri is urging anyone who is interested in AI to come forward and present a research project that will create new systems, which will improve the sectors’ efficiency, transparency, and interaction with citizens. 

A maximum of EUR 25,000 per project

Acknowledging that the execution of an innovative idea requires financing, Minister Schembri revealed that the maximum amount one can receive from the AI Research Fund is EUR 25,000. This money should be sufficient to cover several costs, such as leasing necessary equipment and paying employees’ salaries. 

“It is common knowledge that reliance on technology is a phenomenon that is being experienced all over the world. Therefore, as a government, we are providing the necessary tools to continue to incentivise innovation in this regard. Moreover, we are enabling the collaboration and strengthening of ideas with other partners,” commented Minister Schembri.

Who is eligible to receive funds?

In a press release, the ministry reports that in order to be eligible for financing, applicants must either be an educational institution focusing on AI research or join a private entity for collaboration between academia and industry.

To apply for financing from the AI Research Fund, visit the website of the Malta Digital Innovation Authority.

The first deadline for submissions is on 31 March 2022. 

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