26 July - 1 August 2001

First tenants at Kordin incubation centre

The first four tenants will be moving into the Kordin Business Incubation Centre in September, the centre’s manager, Ray Muscat, told The Malta Business Weekly. The new entrepreneurs approached IPSE (the Institute for the Promotion of Small Enterprises), which sponsors and runs the project, after hearing about the business incubation plans through the media and seminars.
Ing. Muscat said that one of these entrepreneurs is in his mid-40s, while the others are younger. “They are not pure start-ups,” he said. “But they have been operating for just a few months, which fits in with our selection criteria. The important thing is that they are not moving in just for the space, but because they need the mentoring, counselling, and other support
systems that we will be offering. This mentoring will be done
by senior IPSE executives, by our on-site staff, and we will also request specialised assistance when necessary.”
These new businesses are involved in renewable energy, the Internet, and electrical and mechanical engineering designed for machine development. The Kordin Business Incubation Centre has a stated preference for mixed technology, including renewable energy resources, with a particular focus on projects related to solar and wind energy, energy audits, waste management, and the environment. “We also favour the innovative – something that may be a pioneer project for Malta,” Ing. Muscat said.
The Business Incubation Centre is housed in a large former factory at the Kordin Industrial Estate. Part of it has been converted to 57 separate units, which are available to business start-ups and near start-ups. Each of these units is equipped with electricity, water, telephony, data connectivity, and basic furniture. There is a communal management area with conference and meeting rooms, reception desk, a fully fitted kitchen, and a common room. The premises are monitored by CCTV, and access is controlled through a main gate, with swipe cards for tenants and other authorised persons.
Ing. Muscat said IPSE has set up an information service about the Business Incubation Centre, via e-mail, and has already had requests for this information from 200 people. A newsletter provides general information on business incubation, case studies from other countries, and specifics on the Kordin project. “We want to overcome the natural reluctance of young people to take the risk of starting up on their own,” Ing. Muscat said. “They largely lack business experience, and so do not have faith in their ability to successfully start up a business and work for themselves. It is crucial to try to assuage the worries of young persons, regarding the credibility of self-employment. We have a positive message: the opportunities we offer are realistic and exciting.”