Cyprus Business Now

Startups4Peace recently launched an initiative that seeks to unite the two communities in Cyprus and empower aspiring entrepreneurs to build and expand their businesses.

With its mission to bridge divides and create opportunities, Startups4Peace provides motivation, knowledge, and resources to drive innovation and collaboration among startup ventures.

The initiative’s primary goals include bringing communities together and encouraging the creation of joint startups.

By fostering collaboration among startups from all sides of the island, Startups4Peace aims to break down barriers and facilitate a supportive environment for entrepreneurship.

Moreover, according to an announcement, the programme serves as a vital link between startups and established businesses, leveraging the expertise of Finland, Northern Ireland, and Cyprus.

Startups4Peace, also known as Su4P, is a highly anticipated competition and mini-acceleration programme, co-funded by the Embassy of Finland and the European Union.

Implemented under the Innovative Entrepreneurship project, implemented by NI-CO, this initiative collaborates with prominent partners such as CYENS, the Cyprus Chamber of Commerce and Industry (Keve), and the Turkish Cypriot Chamber of Commerce.

The overarching objective of Startups4Peace is to encourage innovative startup entrepreneurship with an intercommunal vision, fostering connections and understanding between the Greek Cypriot and Turkish Cypriot communities.

Moreover, Su4P offers a comprehensive range of support measures for entrepreneurs, including expert assistance during the application preparation phase.

Additionally, participants gain access to networking opportunities throughout Cyprus, while also being able to utilise the EU Incubator Hive.

The programme further features a series of workshops conducted during two residential boot camps, offering invaluable insights and guidance.

Startups enrolled in the initiative will have the opportunity to engage in personalised “one-to-one” mentoring sessions tailored to their specific needs.

Moreover, they will be provided with a unique “market discovery” opportunity, which enables their professional development and growth.

As a thrilling culmination, startups will showcase their business ideas in a highly competitive “Pitching Battle” before an independent jury of esteemed business professionals.

To recognise outstanding achievements, the winners of the Pitching Battle will earn an extraordinary opportunity to attend SLUSH, the renowned startup event held in Helsinki, Finland.

This exciting prospect promises to connect entrepreneurs with the global startup ecosystem and amplify their exposure on an international scale.

For further information on Startups4Peace, please visit https://www.startups4peace.eu.

Applications be submitted at this link.

CFA Society Cyprus and the Institute of Certified Public Accountants of Cyprus (ICPAC) announced that they have signed a Memorandum of Cooperation, seeking to facilitate the expansion and strengthening of their relationship.

According to the announcement, the Memorandum of Cooperation was signed during the Annual General Assembly of ICPAC by Alkis Hajittofis, President of the CFA Society Cyprus, and Pieris Markou, President of ICPAC, in the presence of Zenon Papaphilippou, Vice President of the CFA Society Cyprus, and Kyriacos Iordanou, General Director of ICPAC.

Under the provisions of the Memorandum, the two organisations will maintain regular contact and exchange opinions, information, and expertise on matters concerning the financial community.

Additionally, the Memorandum of Cooperation envisages the exchange of resources and the provision of opportunities for education and the development of knowledge in a range of technical subjects. This seeks to benefit the members of both associations, investors, as well as stakeholders in the financial community in general.

Finally, the two organisations agreed to take joint action with the aim of establishing the members of both the CFA Society Cyprus and ICPAC as key drivers of the development of the local financial community.

Expressing satisfaction with the signing of the Memorandum of Cooperation, Alkis Hajittofis, President of the CFA Society Cyprus, stated that ICPAC is a prominent association with which the CFA Society Cyprus shares common values, including the promotion of financial ethics, education, and excellence.

The Cyprus Stock Exchange (CSE) ended Monday, July 3 with losses.

The general Cyprus Stock Market Index was at 116.75 points at 12:56 during the day, reflecting a decrease of 0.43 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 70.61 points, representing a drop of 0.42 per cent.

The total value of transactions came up to €64,388.

In terms of the sub-indexes, the main and alternative indexes fell by 0.42 per cent and 0.07 per cent respectively. The investment firm index rose by 0.89 per cent while the hotel index remained unchanged.

The biggest investment interest was attracted by the Bank of Cyprus (-2.04 per cent), the Cyprus Cement Company (no change), Demetra Holdings (+0.93 per cent), KEO (-0.65 per cent), and Hellenic Bank (no change).