Collaborative Wisdom: Cyprus Seeds Unveils Its Cross-Border Alliance on Foundation
In a significant move to strengthen Cyprus' innovation sector, Cyprus Seeds, a non-profit organisation, has partnered with Conception X, a UK-based venture program for PhD deeptech founders. This collaboration is set to have a profound impact on Cyprus' innovation ecosystem and its efforts to reverse brain drain.
Maria Georgiadou, the Managing Director of Cyprus Seeds, designed the program in collaboration with the MIT Centre for Technology and Innovation and the University of Cyprus, before launching it in 2018. Georgiadou, who studied in the US with a Fulbright scholarship and got her Master's degree in Economics from the University of Oxford, UK, brings 25 years of experience to the table. Prior to her role at Cyprus Seeds, she was a full-time consultant with the Bank of Cyprus, where she initiated and coordinated IDEA, the first Accelerator-Incubator in Cyprus for start-ups.
The partnership between Cyprus Seeds and Conception X is designed to enhance the entrepreneurial mindset and skills of Cypriot deeptech founders. While Cyprus Seeds traditionally focuses on the technical commercialization of academic research, Conception X complements this by developing the entrepreneurial mindset. This dual approach equips Cypriot deeptech founders with skills in customer discovery, pitching, investment readiness, and strategic intellectual property management, which are essential for successful venture creation and scaling in global markets.
The joint program also aims to bridge the gap between academic research and market needs. By training researchers to better identify real market needs and effectively define their value proposition, it strengthens the innovation cycle within Cyprus, allowing cutting-edge scientific research emerging from local universities to transition more efficiently into impactful products and companies.
Moreover, this partnership amplifies the resources available to tech entrepreneurs in Cyprus, helping retain highly skilled researchers and graduates who might otherwise seek opportunities abroad. By creating viable career and entrepreneurial opportunities domestically, it actively addresses brain drain, a long-standing challenge for Cyprus.
According to the 2024 data, Cyprus' Summary Innovation Index is performing just above the EU average (106.3%), suggesting that it has enormous growth potential in its innovation sector if there is more R&D investment by the government. With the partnership between Cyprus Seeds and Conception X, Cyprus is taking a significant step towards realising this potential.
The partnerships with EGG, the most successful accelerator for start-ups in Greece, and MIT's Venture Mentoring Services (VMS) are expected to further enrich Cyprus Seeds' offerings and develop the entrepreneurial mindset of its teams. Cyprus Seeds has already supported over two dozen teams, enabled spinouts, and facilitated patent filings. With the addition of Conception X's expertise, these numbers are set to grow, further boosting Cyprus' innovation ecosystem and its status as a premier start-up hub in Europe for research commercialization.
References: [1] Cyprus Seeds Press Release, 2022.
- The collaboration between Cyprus Seeds and Conception X introduces a dual approach to developing the entrepreneurial mindset and skills of Cypriot deeptech founders.
- Maria Georgiadou, Managing Director of Cyprus Seeds, collaborated with the MIT Centre for Technology and Innovation and the University of Cyprus to design a program that focuses on the technical commercialization of academic research.
- This partnership between Cyprus Seeds and Conception X aims to bridge the gap between academic research and market needs, strengthening the innovation cycle within Cyprus.
- By equipping Cypriot deeptech founders with skills in customer discovery, pitching, investment readiness, and strategic intellectual property management, the joint program encourages successful venture creation and scaling in global markets.
- With the partnership between Cyprus Seeds and Conception X, Cyprus is taking a significant step towards realizing its potential for growth in the innovation sector, currently performing just above the EU average.
- The addition of Conception X's expertise to Cyprus Seeds' existing partnerships with EGG and MIT's Venture Mentoring Services is expected to further boost Cyprus' innovation ecosystem and solidify its standing as a premier start-up hub in Europe for research commercialization.
