After several years of experience in the corporate sector of large London companies, Yiannis Gavrielides decided to return to Cyprus and establish a number of businesses.
Gavrielides, the co-founder of Covve, formed the idea for the venture, which aims to help professionals build relationships of trust, so that they stand out both in their careers and in their work, through the many experiences he gained while participating in various start-ups.
Speaking during the 'Cypriot Success Stories' panel discussion within the framework of INSPIRE 2025, Yiannis Gavrielides explained that before founding Covve, he had co-founded companies in different sectors with his friends, such as Digital Tree and Lost + Found.
These experiences clearly showed him how crucial relationships are in entrepreneurship.
The pivot that paved the way for collaborations with very large companies
The most important moment in Covve's journey, he said, "came through a product pivot, which led to more than 2 million downloads and paved the way for partnerships with very large companies. This turning point led to a product that continues to attract thousands of new users every month to this day."
Of course, there were mistakes. As he admits, Covve initially relied too much on its product, without first testing the market’s needs. This set them back a lot, but it helped them create a strong Research & Development (R&D) department, in which they invested significantly and which, ultimately, formed the basis for the so-called Total Net Growth or growth through the product.
"Be careful who you put next to you"
For those starting out today, Yiannis Gavrielides gave his own advice, emphasising that the Minimum Viable Product (MVP) is extremely important for a startup.
Also, as he added, it is advisable for new entrepreneurs "to move into markets that have real needs, which they already have access to and understand in depth."
"It's very important who is around you and who is not. Ideally, you should have people with whom you have been through various situations together, as well as people with different opinions and experiences," he underlined.
Characteristically, he emphasised: "Be careful who you put next to you, because as they told me: No matter how thirsty you are, never drink poison."
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.
(Source: InBusinessNews)
