Startups need access to data and regional cooperation prospects

Access to data – or a shortage thereof – was underlined as a key issue for research and innovation startups in Cyprus, and something they would like to be addressed with the establishment of the upcoming Euromed i-House.

Ideas and views were exchanged between entrepreneurs, researchers and local agencies during a panel discussion – entitled “Key value propositions from the Euromed innovation and tech ecosystem” – at the ANIMA Investment Network’s Annual Forum, which wrapped on 12 July in Nicosia.

Described as a resource centre and collaboration hub for the Euromed region to serve innovative enterprises and research, valorisation and develop solutions to face the social and ecological transition, Euromed i-House will be unique in that it will not only serve local startups but also those of the region and the EU.

“Today’s objective is the physical creation of the Euromed i-House which is going to be both a place and a platform,” said Angela Panayiotou, Board Member, Invest Cyprus, opening the panel discussion. “The purpose is to produce profitable businesses that care for the planet and for humanity.”

Alexandros G. Charalambides, Associate Professor, Cyprus University of Technology, and one of the co-founders of Chrysalis Leap, which helps entrepreneurs bring their cleantech ideas to the market, said one of the main difficulties it faced in helping and supporting stratups was finding a platform to help seek out collaborations. “So in this respect, the Euromed i-House is very welcome,” he said.

Theodoros Loucaides, Director General of the Research and Innovation Foundation (RIF), said RIF had an important role to play in platform, as the enabler that will facilitate the green transition.

“We do know that as a small nation, the name of the game is international cooperation, and so we are funding programmes and schemes not only nationally but also to collaborate internationally,” Loucaides added.

There are some shortcomings in the local ecosystem and RIF is looking to bring support from the outside. “We know that we need to improve our knowledge to improve the ecosystem,” he said. “Our support starts from understanding the state of play in the local ecosystem. Funding products and services to take it to the next level with international collaborations. We have achieved a lot in the last few years.”

As Loucaides pointed out, “The startups in Cyprus have been growing faster than we anticipated. Cyprus for a second year in a row is a strong innovator on the European Scoreboard; this was a 10-year effort.”

George Saveriades, Director of Cyprus Seeds, highlighted how urgent it was for EU-Med countries to act against climate change. “As a region we are going to face serious problems, with the increase in temperature, and we are going to have to do it ourselves.”

He added “This is a very important effort and it is going to take a long time to develop it.”

The discussion was also joined by Demetrios Zoppos, Co-Founder & Partner of 33east, Naoufal Chama, Founder & CEO Digimind (Morocco) and Ramy Boujawdeh, Deputy CEO, Berytech (Lebanon), all experts in their field and with vast experience in the startup, research and innovation sectors, who imparted valuable advice and suggestions on what will make Euromed i-House the best possible service for entrepreneurs.

The delegates wrapped their three-day conference and agreed to meet again in a few months, to discuss the steps that have been made and see how their suggestions have been incorporated into the project.

ANIMA Investment Network, an international network that works towards economic integration and convergence between Europe, Middle East and Africa joined forces with Invest Cyprus to create Euromed i-House, with the participation of CYENS Centre of Excellence.

The Annual Forum is being carried out with the support of Euromed Clusters Forward and EBSOMED (Enhancing Business Support Organisations and Business Networks in the Southern Neighbourhood) in partnership with Invest Cyprus.

The Gold Sponsor is AstroBank, the Silver Sponsor is Bank of Cyprus and the event is coordinated by IMH. InBusiness and GOLD are media sponsors.