Cyprus wowed at the “Mobile World Congress Barcelona 2024” with eight cuttingedge companies in sectors like biosensors and automation, positioning the island as a tech innovation hub. Led by Chief Scientist Demetris Skourides, the Cypriot delegation showcased local talent at a global tech event, attracting investors and collaborators to the Mediterranean region.
Cyta’s 2024 budget is dedicated to strategic planning, innovation, and societal impact, aiming to position Cyprus as a leader in global telecommunications by enhancing infrastructure and fostering highspeed networks. The company’s commitment to innovation and corporate responsibility will drive growth and societal advancement, contributing significantly to the digital landscape of Cyprus and its global standing.
Reflect Festival, Cyprus’ top tech event, will bring together 10,000 doers in Limassol’s Kolla Factory on May 3031. Attendees can expect 200+ exhibitors, 150+ speakers across 5 stages, a startup competition, and ample networking opportunities.
Cyprus’s economy is thriving with a 29% increase in tourism revenue in December 2023, reaching €74.3 million and a 22.6% rise in annual revenue, hitting nearly €3 billion, showcasing a promising future for the sector. The island’s financial landscape is also evolving, with advancements in energy projects, agricultural innovation, and financial market collaborations, demonstrating Cyprus’s commitment to growth and prosperity.
The bicommunal solar park initiative in Cyprus is a groundbreaking project, uniting Greek Cypriot and Turkish Cypriot communities to establish a 36MW solar power plant with energy storage capabilities in the UN Buffer Zone. This venture not only signifies progress in renewable energy but also serves as a model for peacebuilding and future solar energy investments worldwide.
Cyprus is accelerating AI adoption through government measures, upskilling the workforce, and strategic collaborations, aiming to integrate ethical AI into society for a techdriven future. Deputy Minister Damianos envisions a digital era in Ypsonas, emphasizing AI’s transformative potential and the nation’s commitment to leading the charge in the region.
Cyprus’ Research and Innovation Foundation (RIF) has launched the “PhD in Industry” program, with a budget of €1.75 million, aimed at integrating academic research with industry needs. The program offers up to €150,000 per project to seed research and development departments in Cypriot businesses, enhancing their competitiveness across various scientific disciplines.
Cyprus is experiencing a surge in its startup ecosystem, fueled by factors such as its EU membership, strategic location, attractive tax rates, government strategies, and a talented workforce. The country’s commitment to innovation, intellectual property, and the tech industry has attracted global interest and positioned Cyprus as a promising destination for startups and tech companies.
payabl. is a pioneering PayTech company that aims to redefine the industry by prioritizing customer centricity, fostering partnerships, and introducing payabl.one, a unified platform for merchants. With a focus on innovation, social responsibility, and growth, payabl. is dedicated to propelling the success of merchants within the EU, UK, and beyond.
