Kordin Business Incubation Centre welcomes first businesses tomorrow

At a special media launch tomorrow, the Kordin Business Incubation Centre, at the Kordin Industrial Estate, tomorrow welcomes the first small businesses that have set up shop at the business start-up facility. The event will be presided over by Economic Services Minister Josef Bonnici and Institute for the Promotion of Small Enterprises (IPSE) chairman George Borg.

The Kordin Business Incubation Centre (KBIC) is a business development programme designed to assist entrepreneurs to develop and accelerate their start-up businesses in a wise and cost effective manner. The programme is being funded, developed and managed by IPSE Ltd, with the collaboration of institutional partners.

Minister Bonnici, speaking earlier this year at KBIC’s launch, had commented, "Under one common roof, it brings together no less than 57 units - each of which will provide between 25 and 150 square meters of working space – with access to common support services and shared facilities, including opportunities for training in various fields related to business management."

Each unit to be provided to the new businesses at Kordin are equipped with electricity, water, telephony, data connectivity and basic furnishings. There is also a communal area made up of conference and meeting rooms, a reception area, a kitchen and a common room, while the KBIC premises will be open 24/7 and will be monitored by CCTV, with access granted to those authorised through the use of swipe cards.

According to Prof. Bonnici, "Initially at least, the principal focus will be on ‘applications’ in the field of information and communications technology, mechanical and electrical engineering design, projects related to renewable energy and biotechnology. Innovative projects in other areas, however, will also be considered.

"Ultimately, our objective is to encourage entrepreneurship and to facilitate the emergence of new and innovative business so as to stimulate further growth and the desired development of our economy. It is only through such development that we can secure the increase in our standard of living, for which we all aspire."