Is Cyprus becoming Europe’s newest tech island?

Is Cyprus becoming Europe’s newest tech island? Cyprus wants to serve innovative entrepreneurs and motivate them to choose the island as their base.

The Cypriot talent pool is educated and largely proficient in English, and the government offers tax incentives that can make the beginnings in Cyprus easier. The priority is to develop a highly-skilled technology talent pool locally and at the same time open the doors to global talent to relocate to the island. 

Cyprus-based companies have achieved significant milestones. 

Odyssey, with an office in Nicosia, was just included in the Gartner 2021 Magic Quadrant. Online course marketplace LearnWorlds has managed to raise $32 million (€27 million).

Omilia, raised an impressive $20 million (€17 million) last year to work on their conversational AI technology for enterprises. 

Nexters Global’s IPO a deal that values the company at $1.9 billion.

Palta, a health & well-being technology company, has recently raised $100 million (€85 million) in a Series B funding round.

At the beginning of this year, more than 100 tech companies have joined forces to showcase that Cyprus is an ideal place to live, work, and innovate. They have launched Techisland, a non-profit organization with a mission to promote the acceleration of the local tech ecosystem.

credit: Article by Reflect, link below.

https://lnkd.in/dX-7SzJ8

#startups #innovation #technology #jobs #entrepreneurs #talent #funding #cyprusjobs

Related News

Drowning in CVs? How Cyprus Recruiters Can Stay Afloat

Drowning in CVs? How Cyprus Recruiters Can Stay Afloat

If you’re a recruiter in Cyprus right now, you might feel like you’re drowning in CVs. After years of a candidate-driven boom, the hiring landscape has flipped to an employer-driven market, meaning companies now have the upper hand as job seekers scramble for opportunities. One ripple effect is a surge in job applications per opening.

Read More »
Optimizing Performance Management in Remote and Hybrid Work in Cyprus

Optimizing Performance Management in Remote and Hybrid Work in Cyprus

Remote and hybrid work have redefined how organizations operate, bringing both opportunities and challenges. Globally, over 80% of companies now accommodate remote work, but Cyprus has been slower to adapt. In 2021 only about 6.7% of Cypriot professionals worked remotely – roughly half the EU averagefastforward.com.cy. This is changing, however, especially in the island’s thriving fintech and tech sectors.

Read More »
work from home hybrid

Making Hybrid Work Better for Cyprus-Based Companies

Hybrid work has become a lasting fixture in Cyprus, yet many companies still treat it as a superficial perk rather than a strategic shift. While nearly half of Cypriot professionals now prefer remote or hybrid models, common pitfalls like poor communication, proximity bias, unclear policies, and disconnected culture can undermine its benefits.

Read More »