What is it?
ZAAR is a crowdfunding platform that enables individuals, organisations, start-ups and other entities to raise funds for their business ideas and projects. Crowdfunding is an alternative mechanism to raise funds whereby ideas are funded by the crowd through many small contributions. Our current setup offers start-ups the possibility to carry out a reward-based crowdfunding campaign. That is, start-ups would offer their products and services for presales orders which would enable them to raise capital, validate their idea, gain marketing exposure and attract their first loyal customers even before spending a lot of money to set up.
Who is behind it?
Established in 2015 by the Malta Business Bureau (MBB) and the Malta University Holding Company, the organisation is managed by Matthew Caruana who is now also a coach and mentor of various start-ups after his experiences in managing teams and start-ups both in Malta and the UK.
How is it funded?
ZAAR is partly self-funded and partly supported by government grants through the MEIB and ACM. ZAAR also receives support from the University of Malta through the TAKEOFF Business Incubator.
What are your plans for the future?
ZAAR aims to continue growing and start offering other types of crowdfunding platforms such as investment-based crowdfunding and loan-based crowdfunding. Moreover, we are currently carrying a survey amongst the investors’ community to consider other options and services that we would like to offer to promote early-stage investing.
The objective of the founders is to support and encourage entrepreneurship in Malta by alleviating one of the main challanges faced by entrepreneurs today. Although we believe that entrepreneurship is a mindset and not simply an act of opening a business, we do also understand that opening your own business is the clearest sign of an entrepreneurial mindset but also the hardest. Therefore, we hope to make this step slightly easier by giving start-ups another avenue to raise finances. We hope this will be a new beginning for angel investing and early stage investing.
About Ones to Watch
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