On Wednesday 19th of October, TechIsland & “Dealroom.co” brought live the Cyprus Tech Ecosystem Platform – https://ecosystem.thetechisland.org, during a launch event at the ASBIS Hi-Tech Cluster in Limassol. The map, which was built by the global data intelligent company Dealroom.co (who is specialized in such projects), is based on a data cataloguing and analysis concerning the Cyprus Tech and Innovation Ecosystem. It is a live real time monitoring platform that includes all the relevant stakeholders of the Cyprus Tech Ecosystem, including Corporates, Venture Capital, Startups, Universities, Incubators and reflects the current ecosystem and the growth potential of the Tech and innovation ecosystem.

This announcement is coming after months of preparation, during which the Startups Working Group of TechIsland with the support of the Board of Directors of the Organization, brought forward this initiative. This initiative was done in order to create the first holistic real time platform that maps and monitors the whole tech and innovation ecosystem. The presence of such a platform will allow the faster growth of Tech companies and Startups in Cyprus, as it will be used as a crucial tool for the potential connection of companies with investors and the improvement of the access to funding.

Regarding the announcement, Mr. Marios Demetriades, Chairman of the Startups Working Group stated: “A few years ago Cyprus was not even on the map for tech companies and startups. Today, I’m very proud to see going live a global platform that will enable the world-class products developed in Cyprus, to be connected with an international network of investors”.

In the same line, Mr. Yuriy Romanyukha, CEO at ICLUB and co initiator of the project, stated: “Cyprus, even though it is a very small country, creates an increasing number of global companies with ambitious founders and talented teams. As a fund investing in the whole world, we are very excited that more and more investors and companies will discover Cyprus as a global tech hub and we very much hope that this platform will speed this process up.”

Adding to the above, Mr. Andreas Neocleous, CEO at Cyta and Board Member at TechIsland, on behalf of Cyta Business who was co initiator of the project, stated: “The Tech Ecosystem Map platform provides a brilliant set of data, that has the power to unlock new opportunities and accelerate innovation. Furthermore, it will inspire people and will enable better decision making”.

Mr. Serhei Kostevitch, CEO at ASBIS, Board Member at TechIsland, who is also a co initiator of the project, stated: “The platform is a real chance for measuring and real time monitoring of the growth of the innovation ecosystem and the growth of the tech industry and its contribution to the Cyprus economy”.

His Excellency, Deputy Minister for Research, Innovation and Digital Policy Mr. Kyriacos Kokkinos who open the Launch Event, stated: “What we witness through this Ecosystem map, is the connection of our ecosystem of startups with the external world, as well as the actors of our own country such as the Government, the private sector, the innovation, and the people that trust our country. It is a great platform.”

On behalf of the Operations Team of TechIsland, Tanya Romanyukha, Head of Operations at the organization stated: “We are very happy to bring this platform. This real time platform is the bridge of the local ecosystem players to connect with an international network of companies and investors and provides real time data and insights of the progress of the Cyprus ecosystem. Now it is the time for the local startups and their founders to claim their profile, and connect with the international network of investors that exist on this global platform”.

The Cyprus Tech Ecosystem Map was brought forward after the co-initiation and sponsoring of the companies Cyta Business, ASBIS and ICLUB. The Launch Event took place with the support of AdTech Holding, Digital Tree, along with Deloitte Cyprus.

TechIsland, as an IT association, is working towards the implementation of collective actions that are being taken and which are expected to accelerate the development of the sector of technology and innovation in Cyprus, a sector which TechIsland predicts to become a new main pillar for the development of the country's economy.