Malta’s first crowdfunding platform, ZAAR, was launched earlier today at Spazju Kreattiv, St James’s Cavalier.
Aspiring entrepreneurs seeking funding for their start-ups can now promote their project idea on the website, www.zaar.com.mt, to receive small donations from a large group of people.
Crowdfunding has become extremely popular abroad over the past few years as a result of the highly-popular websites Kickstarter, Indiegogo and GoFundMe.
“Besides giving you the money you need to start your business, successful crowdfunding also gives you the confidence you need to persevere and see things through,” ZAAR manager Karl Grech said at the launch.
The project is spearheaded by the Foundation for the Promotion of Entrepreneurial Initiatives, a joint venture between the Malta Business Bureau and the University of Malta. ZAAR is also supported by the Ministry for the Economy, Investment and Small Business and the Arts Council Malta.