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Invest Cyprus: The Euromed Tech Hub to be established in Cyprus

05/12/2022 12:44

Cyprus was selected by unanimous decision of the ANIMA Investment Network Board of Directors.

The agency will promote Technology and Research & Development in the wider Eastern Mediterranean region.

The creation of the Euromed Tech Hub in Cyprus was unanimously decided last week by the Board of Directors of ANIMA Investment Network. The development constitutes a significant success for Cyprus, as the Euromed Tech Hub will function as a regional centre for research and cooperation, concerning issues of business innovation, and the transfer of technological knowledge for the participants from the wider region of Eastern Europe, the Middle East, and Africa.

The organization will be jointly operated by ANIMA’s international steering committees and Invest Cyprus, while all efforts will be focused on promoting technology and innovation solutions that will serve the social and “green” transition of the Mediterranean countries. Emphasis will be placed on issues such as the optimal management of commodities, the mitigation of the consequences of climate change, the assurance of food sufficiency, and the smooth ecological transition of the regional economies.

Noteworthy, the Euromed Tech Hub will be largely financed by European Union funds, in the context of the Euromed Clusters Forward project, with the following aims:

● To accelerate and connect innovative entrepreneurs to develop their projects

● To help in the maturation, promotion, and utilization of innovation and technological solutions

● To offer space and an engineering of cooperation for tech support organisations from the Euromed.

The Euromed Tech Hub will initially employ approximately ten people in Cyprus, supported by a team of five members from ANIMA's headquarters in Marseille.

‘For the ANIMA Investment Network, being associated with Euromed Tech Hub is a wonderful opportunity to institutionalise 15 years of working to promote investment in innovative entrepreneurs and research valorisation in Euromed. This hub will also connect the vibrant innovation ecosystem we found in Cyprus with the tech community we are working with around the Mediterranean basin,’ ΑΝΙΜΑ’s General Manager, Emmanuel Noutary, noted.

‘As Invest Cyprus we feel immensely proud of the unanimous decision of the ANIMA Board of Directors to choose Cyprus for this particularly important project. It constitutes a recognition of our efforts, but also the country's development in the fields of Technology, Research, and Innovation. A delegation of ANIMA visited our country in the previous months, where it had meetings with various stakeholders that deal with the Research and Innovation ecosystem, recognizing the enormous progress and prospects that exist. In collaboration with the Chief Scientist for Research and Innovation, our efforts were focused to convince that Cyprus meets all the guarantees to host this grandiose and highly beneficial project for all the countries of the region’, comments the deputy general manager of Invest Cyprus and member of the Board of Directors of ANIMA, Marios Tanousis.

Dr Nikolas Mastroyiannopoulos, National Chief Scientist for Research & Innovation notes: ‘As Cyprus is rapidly developing into a dynamic Research and Innovation regional centre, the establishment of the Euromed Tech Hub will further strengthen the country's position while offering significant assistance and expertise to innovative businesses of the wider area. Moreover, it will be an opportunity for them to be active in the domestic ecosystem. As we are at a pivotal point in fostering a sustainable research and innovation ecosystem, the Euromed Tech Hub can only birth benefits.’

Invest Cyprus has been a member of the ANIMA Investment Network since 2008. ANIMA operates as a financial cooperation platform for investment and entrepreneurship among Mediterranean countries. It consists of 70 member organizations, from twenty countries in Europe, the Middle East, and North Africa. The network designs and implements initiatives to develop partnerships between the investment and business ecosystems, at the regional level. To achieve its goals, it works with more than four hundred experts and external partners, as well as with numerous business associations, innovation ecosystems, investors, and research centres operating at the local and national levels.