“Startup founders need to focus on the first customer. They have to be obsessed with making the first sale. When you make the first sale, you prove that you have something that people would pay for,” Constantinos Neophytou, Innovation Leader at CYENS Centre of Excellence and CEO of TeamVision advised audiences at the recent INSPIRE 2025.
He went on to explain, “Don't start the other way around, which is what I have seen done many, many times. You write a business plan, you go fundraising, but you don't have proof of revenue. When you have proof of revenue, it's much easier to go and find investors.”
Neophytou was part of the panel entitled ‘Invest in Technology’ powered by CyRIC/Gravity and part of the INSPIRE 2025 section on ‘Investing in Cyprus Tech Startups – Past, Present & Future.’
With a strong background in venture capital and startup advisory, Neophytou has been involved in building and scaling startups in Cyprus and internationally.
As CEO of TeamVision, he focuses on venture building, investment management and connecting entrepreneurs with the right partners.
Neophytou also has a strong academic background, having studied at Cambridge, UCL, and Harvard, which helped shape his global outlook on innovation and investment. He is passionate about strengthening Cyprus’s startup ecosystem and unlocking opportunities for innovation-driven growth.
His professional experience means that Neophytou has seen both sides of the VC world; and, as he told audiences at INSPIRE 2025, having been around for the early days, he can compare the pre-incubator, pre-ecosystem era to now.
On his current activities, Neophytou noted that, “Because we're focusing on Cyprus, looking at scalable technologies that come ready to be scaled is not an option. So we're looking at startups that need a lot more input, not just capital.”
The expert also pointed out that capital was relatively available, particularly in the post-COVD era, underlining that investing in people was key.
Pointing out that an international ecosystem of companies already existed on the island, mainly concentrated in Limassol, Neophytou underlined that the presence of international founders “will undoubtedly also help our local startups.”
He suggested, “We’re not yet at the stage where we can expect the next big unicorn in Cyprus to come from Cypriots. It remains to be seen, though, and we're definitely moving in the right direction.”
He also put forward the view that the small size of Cyprus’ market could make it a perfect location to be used as a test model.
Neophytou went on to underline the importance of AI and that startups incorporating AI were the ones attracting the most investor interest.
Encouraging Cyprus’ universities and centres of excellence to up their output, he also noted that applications need not be aimed only at huge organisations or large groups of people, that starting with something small and customisable could be wiser. These products could then be scaled to other countries. Neophytou gave the example of technology that could cut down on the need to manually fill out forms at a specific government department, something that, once proven to succeed in Cyprus, could be scaled to other countries with similar issues.
The discussion was moderated by Panis Pieri, Growth Hacker, Founder of Panis.News.
Partners & Sponsors
Strategic Partner: Cyta Business
Platinum Sponsor: Bank of Cyprus
Gold Sponsors: ECOMMBX, Zorbas Group, Cyfield
Silver Sponsors: PwC Cyprus, Petrolina, Bioland
Academic Sponsor: University of Nicosia
Stage Sponsors: National Bank of Greece (Cyprus), KPMG Cyprus, Odyssey, CyRIC/Gravity Ventures Incubator, Invest Cyprus
Panel Sponsors: HRDA, OPAP
Podcast Presenter: Payabl.
Sponsors: Hermes Airports, IMR, Libertex
Technology Partner: Kotsovolos
Community Partner: TechIsland, Junior Achievement Cyprus
Innovation Partner: Research & Innovation Foundation (IDEK)
Mobility Partner: Pilakoutas Group
Sustainable Transport Partner: Cyprus Public Transport
Sustainability Partner: Electricity Authority of Cyprus
Coffee Partner: Coffee Berry
Partner: Charalambides Christis
Supporters: ASBIS, CSR Cyprus, Capacitor Partners, HJS Insurance Agents, Mastercard, Robura, Superad, Kapodistrias, Photos Photiades Breweries & Epilogi, Voici La Mode Group of Companies, GrantXpert, Gap Vassilopoulos, Techbiz, Grow Sustainability Consulting, ASBIS, Murex, Drastyc, Bolt
With the support of: Cyprus Computer Society, CITEA, CPMA, Youth Board of Cyprus, OEB, Skills Cyprus, National Betting Authority
Media Sponsors: Alpha Cyprus, CBN, IN Business, Reporter, SuperFM
Organizer: IMH
Under the auspices of: Municipality of Nicosia
- INSPIRE 2025 – Where passion meets action, and action changes the world.
