CYENS Techub: Cyprus startup ecosystem improving every day

Business accelerators or startup incubators are among the places first-time entrepreneurs and startup founders most often turn to for help with their new companies.

Here, speaking to Burak Doluay, Entrepreneurship Community Manager, CYENS Centre of Excellence, we present another of the incubators that play a crucial role in the Cypriot startup ecosystem.

CYENS Techub was launched by CYENS Centre of Excellence to play a crucial role in delivering the shared mission of Nicosia Municipality and CYENS to create a designated Creative Industries and Technology quarter in the heart of Nicosia, complementing the Centre’s broader Research and Innovation activities. Launched in September 2021, CYENS Techub offers customized training, mentorship, consultation and a co-working space. It operates two accelerator programmes: Nicosia2 for the fast development of Smart City concepts over six months, through training, coaching and grants; and Safetytech, established by Lloyd’s Register in collaboration with the Safetytech team and Oceanic Catering Services Ltd, exploring the use of augmented reality and computer vision in assisting crew in the safe handling and storage of vessel provisions, addressing the onboard management of stock, providing access to shipping industry data for conducting feasibility studies, and offering possibilities for piloting opportunities. Overall, the programmes target deep tech and the thematic areas can change, based on the needs of the community and the industry. So far, five teams have successfully completed the programmes.

What changes would you like to see to the Cyprus startup ecosystem that could help it evolve and take it to the next level?

The Cyprus ecosystem has evolved in the last 10 years and it’s improving with every passing day. We have initiatives and support mechanisms introduced by government organisations, academic institutions, Industry players and NGOs, ranging from grants to accelerator programmes to mentorship. However, in most cases we all rely on the same experts or funding sources to conduct our activities. What could help to take the ecosystem to the next level is a national ecosystem coordination group, which should establish a common strategy for our ecosystem, enabling shared responsibility for supporting the ecosystem, knowledge exchange among members, collaboration on projects and the efficient management of our resources.

This interview first appeared in the April edition of GOLD magazine. Click here to see it.