FOLKES, the Foundation for Long Lasting Knowledge Economy Strategies, was set up to promote the Maltese Islands’ interests in the global market in terms of the knowledge-based economy in order to ensure the sustainability of growth, jobs and education in Maltese society.
Since its inception in 2006 it has assisted local community groups to enhance their knowledge of the potential of innovation, technology transfer and the use of EU funds in unleashing such potential. FOLKES has also been active with the younger generation through its FOLKES’ Youth Section which focuses specifically on knowledge economy issues that affect young people. Young people are often those individuals within a society that have a high level of innovative concepts and are usually very creative. Innovation and creativity are fundamental components of a knowledge-based economy, however it is often the case that formal education structures do not encourage the development of innovative and creative concepts. A knowledge-based economy is the result of increased R&D by companies and firms and high-quality education and training. Therefore it is essential to bridge the gap between education and industry and in this respect young people can play a key role. Through its initiatives FOLKES Youth Section aims to increases these synergies for the benefit of young people, industry and Malta in general.
FOLKES has experience within European funded Projects, covering several EU Programmes like LLP, Leonardo da Vinci, TOI, Socrates, Grundtvig, Erasmus for young Entrepreneurs.