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CIPA Hosts Inaugural Invest Cyprus Start-up Demo Day

CIPA Hosts Inaugural Invest Cyprus Start-up Demo Day

Thirteen local start-ups were offered the unique opportunity to present their innovative ideas, services and products to distinguished foreign and local investors at the Invest Cyprus Start-up Demo Day, the first such event organised in Cyprus by the Cyprus Investment Promotion Agency (CIPA), held on Tuesday, December 8.

Within the framework of its mission, CIPA took the initiative to organise the Invest Cyprus Start-up Demo Day, aspiring to establish it as a regular event, with the aim of boosting entrepreneurship and promoting Cyprus as an attractive international innovation and entrepreneurship centre. 

Through this initiative, the Agency seeks to boost the attraction of foreign investors to the island, help Cypriot start-ups access international markets and operate as an incentive for more Cypriots to develop innovative ideas and enterprises.

In excess of 30 start-ups expressed interest in participating in the event, though just thirteen were selected.

“Within the framework of the new Action Plan for Reform and Development, the support, promotion and boosting of business and investment activity in Cyprus are priorities for the Government,” affirmed Under-secretary to the President Constantinos Petrides in his address to attendees. “Our priority is not just to create new companies, but to develop viable and competitive enterprises which will be in a position to create new jobs and contribute to the country’s economic growth. As part of this effort, the creation of a network where ideas can come into contact with potential financing is very important, and this is why we welcome today’s event, as well as similar efforts made by the wider public and private sector.”

On his part, CIPA Chairman Christodoulos Angastiniotis thanked the organisations and individuals of the business community who contributed to the successful staging of the event. He said the importance of entrepreneurship lies in its ability to enhance prospects and enrich manpower skills, to develop research and development and promote more effective ways of serving the economy as a whole. 

“Particularly today, start-ups are much more than innovative means to implement ideas. They can serve as the backbone of our economy, creating new jobs and contributing to growth in various ways,”’ Angastiniotis added.

The event was sponsored by Deloitte, Bank of Cyprus and IDEA and supported by Cyprus Enterprise Link and Startup Cyprus

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