Cyprus Business Now

Non-profit organisation Junior Achievement Cyprus recently announced the successful completion of its StartUp Programme for 2023, which sought to support Cypriot startups and promote innovation on the island.

“In the final phase of the competition, we witnessed the innovation, talent, and entrepreneurial spirit of young people from all over Cyprus,” the organisation said in a statement.

According to an announcement, the organisation “provided participants with all the necessary tools to turn their business ideas into reality, harnessing their creativity and determination to achieve remarkable results”.

“The event was a great success, reinforcing the belief that young people have the power to shape the future of entrepreneurship,” the announcement added.

The final and award ceremony took place on Thursday, June 1, 2023, at the Asbis Tech Cluster in Limassol.

The competition was the culmination of the efforts of over 200 students, aged 18-30. During the event, 10 finalists out of the 42 student companies that were created had the opportunity to present their innovative business ideas and were evaluated through interviews by the Jury.

This year, the programme was implemented across 8 universities in Cyprus, with the support of 17 academics and 30 mentors.

The Business Idea of the Year 2023 was awarded to E-mbracelet, whose mission is to help individuals with autism spectrum disorder live happier lives.

Their product is a smart bracelet with heart monitoring and a unique sound analysis feature that provides personalised statistics to the user through the application. Their mission is to foster understanding and empathy for people with autism.

The team, representing the University of Cyprus, was supported by their professor, Daina Nicolaou, and their mentor Marinos Mitsios.

In addition, E-mbracelet will now represent Cyprus in the JA Europe GEN-E European Competition, which will take place from July 12 to 15 and will be hosted by JA Turkey in Istanbul.

The Cypriot team will be represented by Maro Manoli, Anna Charalambous, Amalia Yasoumi, Christoforos Malekos, and Christodoulos Nikiforou.

The programme is supported by ASBIS and the Research and Innovation Foundation (IDEK), among others.

The Cyprus University of Technology (Tepak) on Wednesday announced that the graduation event for its Department of Commerce, Finance, and Shipping at the School of Management and Economics was a great success.

Held on Thursday, May 25, 2023, at the Ceti Locale events venue in Limassol, the event aimed to strengthen the connections between the department’s graduates, the school, and industry professionals.

According to the announcement, it provided an excellent networking opportunity for alumni to engage with representatives from finance, shipping, auditing, and accounting firms.

The event attracted a significant number of participants, including undergraduate and postgraduate alumni, academic and administrative staff from the School of Management and Economics, as well as executives from leading companies in various industries.

The ceremony began with short speeches from the University’s Rector and the Dean of the School of Management and Economics.

The dean highlighted the important changes implemented in the School of Management and Economics as a result of legislative regulations enacted in July of the previous year, emphasising their impact on the school and its students.

Moreover, the School of Management and Economics extended its sincere appreciation to all those who contributed to the organisation and success of the event.

Finally, special thanks were given to the numerous alumni and all participants from companies and organisations whose presence added honour to the occasion.

The Cyprus Stock Exchange (CSE) ended Wednesday, June 7 with profits.

The general Cyprus Stock Market Index was at 112.54 points at 13:19 during the day, reflecting an increase of 1.17 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 68.06 points, representing a rise of 1.16 per cent.

The total value of transactions came up to €266,980.

In terms of the sub-indexes, the main and investment firm indexes rose by 1.64 and 0.92 per cent respectively.

The hotel and alternative indexes, meanwhile, fell by 0.57 per cent and 0.60 respectively.

The biggest investment interest was attracted by the Bank of Cyprus (+2.96 per cent), Hellenic Bank (+1.4 per cent), Petrolina (-2.65 per cent), Demetra (+0.97 per cent), and Vassiliko Cement Works Public Company (-3.57 per cent).