"The geographical location, specialised human resources and progressive policies create the ideal ecosystem for investment, the development of start-ups and the promotion of scientific research," said Konstantinos Kleovoulou, Director of Research and Innovation at the Deputy Ministry of Research, Innovation and Digital Policy, from the podium of the 3rd Cyprus International Technology Relocation Summit.
Kleovoulou emphasised that Cyprus, leveraging its participation in the single European market of 125 million consumers, has evolved into a flexible and innovative hub, capable of functioning as a "sandbox" for the development and testing of new technologies before they are implemented in larger, more regulated markets.
Referring to the data that reflects the dynamics of the sector, he noted that the technology industry in Cyprus is growing rapidly, ranking 4th in Europe in terms of the sector's development and contributing almost 15% to the country's GDP.
Finally, after referring to AI and the country's significant successes in this direction, as well as the modernization of the public sector, he concluded by noting that today more than 800 successful technology and innovation businesses are active in Cyprus, both international multinationals and domestic startups, confirming that the country is evolving into a regional center of technological excellence.
(Source: InBusinessNews)
