ESNA’s Arthur Jordao: “Cyprus continues to affirm its strong commitment to fostering a thriving startup ecosystem”

Arthur Jordao, Executive Director of ESNA- Europe Startup Nations Alliance, said Cyprus continues to affirm its strong commitment to fostering a thriving startup ecosystem, excelling in the implementation of the Startup Nation Standards.

"Cyprus continues to affirm its strong commitment to fostering a thriving startup ecosystem, excelling in the implementation of the Startup Nation Standards, particularly through its attractive financing tools and tax incentives for startups and innovative enterprises, and its focus on attracting and retaining talent,” Jordao told the ESNA - Europe Startup Nations Alliance Forum, held on 27 November in Brussels, adding: “Cyprus presence at the ESNA Forum signals not only the country’s commitment to the startup ecosystem and we look forward to Cyprus playing an even more significant role in shaping the future of Europe’s startup landscape."

Deputy Minister of Research, Innovation & Digital Policy Nicodemos Damianou was represented at the Forum by the Director General of the Research and Innovation Foundation (RIF), Theodoros Loukaidis.

The Forum, which marked the addition of three new members Ukraine, Italy and Romania to the alliance, brought together government representatives, industry leaders, and startups to exchange ideas and share best practices on shaping the future of the European startup ecosystem. Discussions focused on policies and measures that foster innovation and entrepreneurship across Europe, as well as conducive framework conditions for startups to scale and thrive.

At a Ministerial discussion, Loukaidis highlighted the rapid growth of the Cyprus startup ecosystem - now among the top 50 globally according to the Startup Blink 2024 report - and presented the Government’s tools and policies to nurture innovation and entrepreneurship. These include -among others- an array of funding programs and support services offered by the RIF, alternative financing schemes such as the new government-backed Cyprus Equity Fund - operational by the end of the year-, tax incentives for investment in innovation, a competitive IP box, as well as tools to facilitate talent mobility such as the Startup Visa for third country nationals.