The initiative is intended to convert the country’s research and innovation (R+I) into commercially-driven companies that tackle the island's and the wider region's problems around climate change and attract its citizens home, many of whom are educated and remain abroad. Although Cyprus is coordinating its response with Greece, Israel and Jordan, it does not have the infrastructure or the businesses to tackle the issues. Phone…homeIts competitive advantage is that 35% of its citizens are university-educated of which around half do so in the U.K. For the latter, people can apply for the fund as long as they have a registered agency in Cyprus. But we do want to be acknowledged by global markets.”This is the first of a two-part series on Cyprus’ startup ecosystem.

Source: Forbes May 07, 2019 06:45 UTC