Matthew Bezzina, CEO of eCabs Technologies, recently shared a thought-provoking reflection on Malta’s start-up and scale-up ecosystem, questioning why so few local businesses are breaking into larger international markets.
Mr Bezzina’s insights, shared on LinkedIn, draw attention to the systemic barriers Maltese companies face in their journey towards global expansion.
A challenging journey
Mr Bezzina’s own experience with eCabs Technologies serves as a prime example of the difficulties businesses encounter when expanding beyond Malta’s borders.
Starting as a two-person, bootstrapped operation 15 years ago, eCabs has grown into a group of companies employing over 400 people. Today, it operates its ride-hailing platform in three countries, with plans to expand into two more in the coming months.
Despite this success, Mr Bezzina acknowledges that the journey has been long and difficult. The challenges faced by eCabs mirror those of many other local businesses aiming to scale internationally.
Systemic barriers to growth
Mr Bezzina identifies several systemic barriers hindering the growth of Maltese businesses.
While Malta, Latvia, Lithuania, and Estonia all joined the European Union under similar conditions in 2004, the Baltic states have developed thriving start-up ecosystems that have produced multiple unicorns—start-ups valued at over €1 billion.
In contrast, he adds, Malta continues to rely heavily on traditional sectors like construction, tourism, and population growth as the main drivers of its economy.
This disparity, according to Mr Bezzina, highlights the need for Malta to shift its focus toward fostering a more dynamic, technology-driven economy. Without this shift, the country risks falling behind in an increasingly competitive global market.
A call for collective action
For Malta to truly “Dream Big,” Mr Bezzina stresses the importance of a collective effort from all stakeholders. This includes government bodies, financial institutions, and business leaders working together to transform Malta’s start-up and scale-up ecosystem.
Mr Bezzina urges Malta to create the conditions necessary for more local businesses to succeed on the global stage.
