Malta: First FDI Project at Gozo Innovation Hub
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Nov. 25, 2018
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Noovle, an Italian firm that specializes in ICT and cloud services will be the first foreign direct investement (FDI) in the new Gozo Innovation Hub developed by Malta Enterprise and Malta Industrial Parks.

The firm will be the first to establish a research center that will concentrate on cloud and blockchain processes and machine learning. The center will also solve problems that are required for the companies clients.

Roughly $735,000 will be invested in this endeavor that will span over the course of three years with 35 new positions becoming available. The firm boasts a number of offices in various other EU countries and if the main partner of Google Cloud in Italy. Noovle, which also operates in other EU countries, assists its clients to move towards a digital enterprise model. The company works in collaboration with Google and even develops products for Google clients.

Malta Enterprise is to aid the Italian cloud consultancy firm with setting up at the hub. The first step of which is to set up a Google-certified team of experts in Q1 of 2019, and followed up by the second phase which includes the creation of the research center, that will concentrate on blockchain development amongst other things.

Paolo Vannuzzi, Noovle CEO, stated:“It is a pleasure to be here and to start our activity here. For us it is important to have the correct environment to work and to develop our activity.”

Mario Galea, Malta Enterprise CEO, said:“Noovle’s presence here will surely attract more companies in this growing sector.”

Malta has been a leading country in blockchain adoption and has been dubbed "Blockchain Island", with new exchanges opening, and companies ready to give complex help in the blockchain sector.

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