Two Cyprus-based projects in the areas of art and medicine will receive funding and coaching from non-profit organisation Cyprus Seeds, after being selected among 53 ideas.
Cyprus Seeds, which aims to commercialise innovative academic research in local universities and research institutions, awarded the two Cyprus Institute (Cyl) projects this month.
Both projects will receive funding for 12 months in the form of grants, mentoring, entrepreneurial training and networking with potential customers and investors in Cyprus and abroad. This is the second year the organisation ins running the programme, which will start in November for 12 months.
The first project, Artes, is a specialised service framework for a science and technology-based description of works of art, artifacts and monuments. Promoted by STARC Assoc. Professors Sorin Hermon and Nikolas Bakirtzis, as a novel commercial service unit of The Cyprus Institute, the project aims to addresses major needs in the cultural heritage industry including the increased demand for accurate descriptions of heritage assets, detailed mapping and diagnostics of preservation conditions and reports addressing provenance and authentication.
“With the help of the grant we wish to accomplish the consolidation of the service framework, define a clear marketing strategy and relation with clients, sharpen the business model to be adopted,” Artes team wrote, as well as “envisage a long-term sustainability plan”.
The second awarded project aims to provide superior quality tomographic medical images. Under the name HPC enabled Image Reconstruction for Low Dose and High Contrast PET and SPECT applications project, Professor Costas Papanicolas and Dr Loizos Koutsantonis will introduce this novel service into the healthcare market by post processing data already obtained using conventional medical scanners.
“At a later stage, and if successful, this could be expanded to CT and MRI images. PET and SPECT are two of the leading imaging modalities in medicine” said the Cyprus Instute in a press release.
Ranked among the top five, was another Cyl project which will receive coaching from Cyrpus Seeds, but not funding. Gaia, a Hybrid Geospatial Artificial Intelligence Analytics platform, aims to develop an innovative service for the insurance industry and provide robust solutions that facilitate critical decision-making. Assistant Professors Mihalis Nicolaou and Theodoros Christoudias are behind the project, which is already established as a spin-off company of CyI.
According to their website, Cyprus Seeds, registered in 2018, aims to create a hub of excellence in which academic research teams from any area will get top-tier business education and mentor support to create successful businesses and become attractive propositions to private investors.