From Malta to Monaco: How Stefan Farrugia Is Shaping a Data-Driven Tomorrow with Eunoia

Stefan Farrugia , CEO of Eunoia, was recently named Malta’s EY Rising Star Entrepreneur of the Year. Following his win in Malta, Stefan went to Monaco for the EY World Entrepreneur of the Year awards, where he joined leading founders from around the world. In this interview, Stefan discusses Eunoia’s origins, his commitment to data-driven innovation, and his thoughts on leadership and international recognition. 

Entrepreneurial Journey 

What inspired you to start Eunoia? 

Coming from a career in technology, I saw the cloud as a means to an end. At the time, most data platforms ran on local servers with technologies like database servers and Hadoop. 

I’ve always been passionate about data, and I was puzzled by how leaders could guide companies purely on intuition, without relying on data for their choices. That’s what inspired me to start Eunoia. My aim was to enable real transformation for organizations through data. My main principle has always been to make things better for the people I support, every single day. 

What were some of the toughest moments in your journey, and how did you keep going? 

Being an entrepreneur, a founder, comes with ups and downs. The toughest period for me was the first six months. I lost my father and my younger sister within a month of founding Eunoia. Building a company through personal sacrifice makes you stronger. I like what Jensen Huang, the Nvidia CEO, says: suffering is the key to resilience, and resilience is crucial for success. 

Was there a specific turning point when you realised Eunoia could be more than just a local tech company? 

In 2019, I met Ali Ghodsi , CEO of Databricks. That year, three of us from our small company attended the Spark and AI Summit in Amsterdam to earn Spark certifications. We found ourselves among the largest industry leaders worldwide, including H&M, Facebook, Apple, Zalando, and many others. It quickly became clear we were part of something significant. Meeting Professor Ali Ghodsi, who was approachable and sincere, fueled our desire to grow. The more challenges we faced, the stronger our drive became. 

Eunoia’s Mission and Growth 

Eunoia’s mission is to turn data into a competitive advantage. How do you make this real for your clients? 

At Eunoia, we see data as more than just a technical resource, it’s the lifeblood of today’s organisations. Right from the start, we set out to challenge the notion that data is only for analysts or confined to dashboards. We make it central to every choice, discussion, and transformation. 

Our approach is to focus on our clients’ aspirations and objectives, not just their systems. Whether a client is new to data, needs to upgrade, or is somewhere in between, we meet them at their level. We then design, connect, automate, and enhance using tools like Databricks, Microsoft Fabric , and OpenAI, all with the aim of helping our clients move faster, work smarter, and compete more effectively. 

The real difference happens when teams begin to think in terms of data, when reports spark conversations, insights shape decisions, and AI is seen as a reliable partner. That’s when we know we’ve succeeded, because our work is about more than just technology. It’s about giving clients a tangible advantage one that evolves with them and helps define who they are. That’s the purpose behind Eunoia. 

What do you think sets Eunoia apart from other tech firms in Malta or the EU? 

We are a young, dynamic, and resilient team who are proud to be data nerds. We live and breathe data and AI. Our focus puts us in a great position. Most competitors have large software teams and small data or AI teams. We are purely a data and AI company, and we’re proud of that. 

Your company works in several industries, iGaming, finance, retail, maritime. How do you adapt your solutions for such different sectors? 

We treat data as a common language, though each sector interprets it in its own way. Our advantage lies in attentive listening. We avoid generic solutions and instead dive deeply into every industry, whether it’s the rapid evolution of iGaming, the strict regulations in finance, the complexities of maritime logistics, or shifting patterns in retail. 

We apply proven data and AI solutions, but always tailor them to the specific needs of each sector. In gaming, we enhance real-time behavioral analytics to boost engagement. In finance, we upgrade BI platforms to improve compliance and forecasting. In maritime, we streamline fragmented processes. In retail, we give buying and sales teams access to actionable, real-time insights. 

We also leverage our experience across industries, issues like decision-making speed, surfacing hidden insights, or expanding data governance are challenges found everywhere. What sets us apart is how we implement these solutions, showcasing our adaptability. Our team thrives on tackling complex problems, and our ability to turn vision into results is why clients trust us in so many fields. 

Can you share a client story that captures what Eunoia stands for? 

Our collaboration with Hudson Holdings Ltd , a fast-growing retail group, is a standout example. When we began, their data was scattered across different countries and teams, with heavy reliance on manual reports and outdated figures. What truly drove the project, however, was their ambition. They weren’t just after better reports, they wanted a platform that could scale with them, bring teams together, and support bold decisions. 

Together, we developed a modern data platform that went beyond simply merging numbers. It offered visibility at every level, from inventory to team performance and market trends. What previously took weeks could now be accessed instantly. Most importantly, teams started to trust the data, use it, and drive growth. 

This is what Eunoia is all about. We deliver transformation not just through technology, but through mindset. We don’t just implement a tool and move on. We partner with driven companies, learn what motivates them, and turn data into their advantage. When our clients succeed, so do we. 

Innovation and Leadership 

You have built a culture of innovation, from annual hackathons to partnerships with tech giants. What are the core values that drive your team? 

At Eunoia, innovation is a core value. We built a culture where curiosity and learning matter just as much as results. Our hackathons aren’t about prizes, they’re about trying new ideas and working together. Many of our best solutions started this way. 

Our partnerships with Databricks, Microsoft, and OpenAI help us stay ahead and offer clients top technology. 

Our team values ownership, quality, empathy, and growth. We always ask “what if?, and work to make it happen. 

How do you find and develop talent in such a fast-changing field? 

In Malta, finding top data and AI talent isn’t easy. We never let that stop us.  From the start, we focused on developing talent from within, spotting potential, investing in growth, and giving people challenges that turn juniors into leaders. Some of our best people started with little experience and now deliver cutting-edge solutions. 

We believe innovation attracts talent. When people see we’re working with top tech companies and shaping trends, they want to join us. 

Most importantly, we stay human - listening, mentoring, challenging, and celebrating progress. In a market where talent is scarce, our culture is our edge. Eunoia is a place where smart people want to stay and where potential becomes performance. 

What’s the single most important lesson you’ve learned about leadership? 

Energy. When you step into the room, use your energy and presence to inspire your teams. 

How do you keep yourself and your team motivated when things get difficult? 

I’ve surrounded myself with people who motivate me and keep me in check. When things get tough, we put our heads together and find a solution quickly and efficiently. 

Impact and Community 

You talk about Malta’s potential as a tech hub. What does it take to put Malta on the global map for innovation? 

One of the biggest hurdles for a Maltese business is scale. For example, a 1% market share in the UK means something different than 1% in Malta. 

Malta’s tech market is mature and offers great value, but it’s still small. The resilience and adaptability we’ve developed are assets we can export. Malta’s business adoption of technology is advanced, and support measures help startups expand beyond our shores. 

In your view, what’s the biggest challenge and opportunity for Maltese tech founders today? 

Malta’s startup ecosystem is vibrant, with over 300 tech ventures and strong growth in fintech, iGaming, and AI, but faces two main constraints: a limited investor base and a talent bottleneck. Early-stage funding is tough to secure, and scaling teams without looking abroad is hard. 

Yet Malta’s small size and ecosystem maturity are advantages. As a compact, regulated EU hub, Malta lets founders test and iterate fast across Europe, North Africa, and the Middle East. Support from Malta Enterprise, Startup Residence schemes, and accelerators fuel growth. Its position and progressive environment make Malta a gateway. 

The EY Experience & Awards 

What was it like to be named EY Rising Star Entrepreneur of the Year? 

It was a humbling experience. Being selected from such a remarkable group was unexpected and filled me with pride and gratitude for what we’ve accomplished. It made me reflect on our journey and how far we’ve come. I’m grateful to my family for their unwavering support as I pursue these ambitions. 

Did any stories or people you met in Monaco influence your perspective on your own path? 

There were many, but one comment from a previous winner, Gaston Taratuta, really stood out. He said, “Doing what you love every day isn’t just a right, but a privilege. And when your business creates jobs for thousands, it’s a way to show you care for everyone involved.” That made me think deeply. 

Has this recognition changed anything for you or for Eunoia? 

Absolutely. I feel even more energised and determined to keep pushing Eunoia further, to go beyond limits and be the unconventional player in the industry. 

What advice would you give to someone in Malta dreaming of building something big? 

Start. Don’t wait for perfect conditions, they’ll never come. If you have a vision, begin with what you have, where you are. When we started Eunoia, people said a company focused only on data and AI would never survive. Today, we’re helping some of the biggest brands transform across countries, not because we had it all figured out, but because we refused to stop. 

Be bold in your ambition but patient in execution. Malta may be small, but small means faster decisions, closer communities, and a unique chance to build something focused before going global. 

Surround yourself with people who share your drive and challenge your thinking. Tap into every support system, grants, mentors, partnerships, and never be afraid to ask for help. Build for beyond Malta from day one. Think bigger than the island. 

Most importantly, don’t chase success. Chase impact. Build something that matters, something that leaves a mark on your team, your clients, and your industry. The rest will follow.