Four innovative teams from Cyprus have qualified for the second phase of the 16th Innovation and Technology Competition of the National Bank of Greece's NBG Business Seeds program, an institution that, for 16 years, has been guiding, highlighting and rewarding innovative ideas with real impact, constituting the longest-running innovation and technology competition in Greece.
The qualification of the four Cypriot teams in such a demanding competition highlights the dynamic presence of Cyprus on the innovation map and strengthens the ever-growing interconnection of the Cypriot ecosystem, both with Greece and with the international market.
The Cypriot participations reflect the steady maturation of the local startup ecosystem, its connection to academic research and cutting-edge technologies, as well as the ability to develop solutions with a real social, environmental and business footprint. Specifically, the three groups are active in sectors such as healthcare, PropTech, artificial intelligence and sustainable materials.
More about the four Cypriot teams
- MammoCheck: Democratising breast cancer screening through AI
MammoCheck is developing an affordable, mobile-compatible, portable medical device that combines thermal imaging and artificial intelligence for painless, radiation-free, and non-contact breast cancer screening at home. The solution addresses a critical prevention gap, particularly for women under 45, for whom mammography is not indicated, but also for older women who are screened less frequently. The team’s goal is early detection, when treatment is most effective and survival rates are highest.
- Placy AI: Automation for the real estate industry estate through artificial intelligence
Placy is an AI - powered automation platform for real estate agencies, developers and property management companies. It was created to address the frequent loss of leads due to slow response times and fragmented communication tools. Through multilingual AI assistants for chat and voice, available 24/7, Placy communicates directly with potential customers, evaluates them and automatically updates the CRM , essentially turning it into a "zero-click" CRM.
- VELO ™: Plant-based material from prickly pear for sustainable fashion
NEEMALabs is developing VELO ™, an innovative plant-based material designed as an alternative to leather for the fashion industry. VELO ™ is produced from prickly pear agricultural waste, utilising prunings and local biomass that has remained untapped to date. The solution comes to replace both animal leather and synthetic “vegan” alternatives based on plastics, offering strength, flexibility and aesthetics without animal or petroleum ingredients.
- F.O.R.S.E.T.I.X : Resource system for environmental monitoring , integration & implementation
F.O.R.S.E.T.I.X. (FiX) is an innovative precision software developed by V. G. Freyia Labs Ltd, for fermentation process management, designed for small and medium-sized food and beverage producers. It improves consistency and reduces waste through intelligent decision support and structured data recording. At the same time, it unifies manual and digital workflows on a single platform, without replacing producer expertise or regulatory responsibility.
About the NBG competition Business Seeds
The Innovation and Technology Competition is an annual, emblematic institution that is part of the National Bank of Greece's NBG Business Seeds program. Its aim is to support innovative entrepreneurship in Greece, Cyprus and the wider region, as well as to highlight ideas that offer solutions in the fields of Fintech digital entrepreneurship, advanced technologies and artificial intelligence, environment and climate change, ESG, as well as financial literacy.
The competition is held primarily online and is open to adult residents of Greece and Cyprus, Greeks abroad and citizens of the European Union. The top three winners receive cash prizes of €20,000, €12,000 and €8,000 respectively, while special prizes are also awarded, including the PropTech award, as well as financial empowerment awards for households.
More information:
https://www.nbg.gr/en/business/business-seeds/innovation-competition
