Acronis, Runa Capital and Parallels to Open Malta Tech Hub

Announcements, Blockchain | October 17, 2017 By:

Data protection firm Acronis, technology-focused venture capital firm Runa Capital, and hosting software company Parallels have joined forces to open a new European technology hub in the Mediterranean island of Malta.

The technology hub is aimed at supporting Malta in becoming the first “Smart Island” through accelerating innovation and participating in national blockchain initiatives. Runa Capital will be the first venture capital firm in Malta to provide funding to local startups, and Acronis and Parallels will engage in joint research projects with local firms and institutions, with a possibility of a new research and development (R&D) center focusing on advanced technologies in data protection, AI, and blockchain.

Acronis, Runa Capital, and Parallels are expected to contribute up to $10 million over a three-year period through expanding their presence in the country, venture capital, and R&D.

“Malta is becoming a focus for our presence in Europe, similar to Singapore in Asia, where Acronis, Runa Capital, and Parallels created a functional eco-system for innovation and startups to flourish,” said Serguei Beloussov, the co-founder and CEO of Acronis, and the chairman of the Board of Directors of Acronis, Parallels and Runa Capital. “Government’s commitment to innovation, strong economy, and convenient geographical location between Europe, Africa, Middle East and Asia, creates a perfect environment for our innovative activities.”

“We are happy that another global investor chose Malta to expand its operations in Europe”, said Dr. Joseph Muscat, Prime Minister of Malta. “There is one added crucial factor that brings us here together today. We share the same vision for Malta – that of becoming a hub for technological innovation.”

Muscat added that the government is embracing new disruptive technologies and wants Malta to become a leader in new technology in Europe.

“We are doing this by preparing the right regulatory frameworks as well as laying the foundations for businesses such as Acronis, Parallels and Runa Capital who offer support for our national Blockchain efforts to invest in this new emerging economic niche,” said Muscat. “Government is laying the grounds for such sectors. We can, and we are, providing leadership and policies that allow ideas to flourish. We are also simplifying access to finance and investment which will help our young professionals to make their ideas happen. But we surely cannot succeed without companies such as Acronis, Runa and Parallels who are coming forward to invest in local startups.”

Back in April, Malta’s Cabinet approved the first draft of a national strategy to promote blockchain. This was followed by a call for proposals by the Parliamentary Secretariat for the digital economy from seven financial services advisory companies. A task force was formed last month which will provide the roadmap for implementation of the national blockchain strategy.