Nicodemos Damianou: Cyprus is a rapidly growing regional tech hub

The government has a vision and specific policies in place aimed at turning Cyprus into a robust and competitive economy that is driven by research, scientific excellence, innovation, technological development and business, said the Deputy Minister of Research, Innovation and Digital Policy, Nicodemos Damianou.

He was addressing the 2nd Cyprus: The New Global Tech & Innovation Hub Summit currently underway in Limassol, where he described the island as an emerging regional innovation and business hub.

As he pointed out, the country’s technological infrastructure and its strategic initiatives have turned Cyprus into a key player in the tech landscape.

The emergence of Cyprus as a data portal and connectivity hub was also a key theme of the state official's presentation. With 12 submarine cable systems and three cable landing stations, Cyprus has extensive connectivity, positioning it as a gateway to and from the EU. The island offers broad access to high-growth markets, and serves as a “sandbox” for emerging technologies and pilot programmes, as well as a regional base for the provision of high tech services and cooperative research and development, said Damianou.

The deputy minister also highlighted that Cyprus was in an excellent position to attract investments in the fields of artificial intelligence, space technologies and blockchain, what with its thriving ICT sector.

The country’s Vision 2035 strategy, he added, is governed by ongoing reforms, support and incentives aimed at promoting innovation and economic growth, said Damianou.

Organiser: IMH

Strategic Partner: Invest Cyprus

Strategic Telecom Partner: Cyta Business

Innovation Partner: Research & Innovation Foundation

Ecosystem Partner: TechIsland

Gold Sponsors: Bank of Cyprus, KPMG Cyprus

Silver Sponsors: Energame, Pafilia

Supporters: IMR, Island Private School

Official Media Sponsors: Cyprus Business News, Gold magazine, IFC Media, IN Business magazine