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Cyprus taking important step forward in space sector with landmark MoUs, CSEO says

A significant step forward has been taken in Cyprus' ambition to become a leading global hub in the space sector, the Cyprus Space Exploration Organisation (CSEO) says.

A press release adds that CSEO on 20 December signed "landmark Memorandums of Understanding (MoUs) with Invest Cyprus, the national investment promotion agency of Cyprus, and Strategy International (SI), a leading consulting firm specialising in business strategy and geopolitical analysis."

These partnerships, it says, are designed to leverage their combined capabilities to propel the growth of the space ecosystem in Cyprus, attracting international investment, fostering innovation, and creating a powerful framework for sustained growth and collaboration within the space sector.

The signing ceremony took place at CSEO's headquarters in Nicosia, in the presence of distinguished guests, highlighting the broad support for this initiative, it says.

Attending the ceremony were the CEO of Invest Cyprus,  Marios Tannousis, representing the USA Embassy, the Political Economic Officer, Benjamin Witorsch, the Vice-Mayor of Nicosia, Chrysanthos Fakas and on behalf of CYENS Centre of Excellence, Christos Ioannou and other officials.

"These strategic partnerships bring together the unique strengths of each organisation. CSEO will leverage its cutting-edge expertise in space exploration and research, while Invest Cyprus brings its mandate to attract foreign direct investment and foster business development," it notes.

The collaboration, it adds, with Strategy International will facilitate access to its specialised expertise in strategic analysis, geopolitical insights, and international network.

"The combined efforts will result in a powerful cooperation designed to benefit Cyprus's space sector, further propelled by the recent signing of the NASA Artemis Accords and CSEO’s participation in the Artemis Lunar Programme," CSEO underlines.

The President of CSEO said that, “these MoUs with Invest Cyprus and Strategy International mark a transformative moment for the Cypriot space sector."

"By uniting our respective capabilities, we are creating a powerful engine for innovation and investment that will propel our research and development, attract foreign investments and talent, and solidify the foundations for long-term growth of our domestic space sector while building on the momentum of our recently established International Space Innovation Centre under the auspices of COSPAR, positions Cyprus as a bridge for collaboration in global space research and development,” George Danos said.

In his remarks, Evgenios Evgeniou, Chairman of Invest Cyprus said that, “Invest Cyprus is dedicated to fostering economic prosperity and diversification in Cyprus. The space sector offers tremendous potential, and our collaboration with CSEO, complemented by the strategic guidance of Strategy International, aligns perfectly with our strategic goals."

"Through this partnership, we can develop a robust and innovative space sector that generates high-value jobs, fuels economic growth and solidifies Cyprus’ role on the international stage as a crucial facilitator in bridging space science and future exploration efforts," he added.

Dr. Marios P. Efthymiopoulos, CEO of Strategy International noted that, “strategy International is honoured to support the development of a dynamic and successful space economy in Cyprus."

"By providing our expertise in geopolitics, strategy and international relations, we are confident that we can help facilitate growth, investment and innovation within the Cypriot Space sector, while solidifying Cyprus as a global leader, particularly in light of C-SpaRC's role in supporting NASA's Artemis program,” he went on to say.

Key objectives of the MoUs include strategic investment, accelerated innovation, enhanced international collaboration, development of a robust and sustainable Space Ecosystem and commercialisation and export.

"The MoUs between CSEO, Invest Cyprus and Strategy International lay a strong foundation for a vibrant and thriving space sector in Cyprus. By actively working together, the three parties will create a unique synergy to establish Cyprus as a leader in space exploration, innovation, and investment" it says.

This initiative, it concludes, builds upon the strong foundation already established by CSEO in facilitating global space cooperation and through C-SpaRC and its status as a COSPAR Centre of Excellence, which is actively exploring new territories of international research and innovative collaborations in space.

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