26.07.2022
Startups4Peace (Su4P), an EU-funded innovative entrepreneurship project supported by the Finnish Embassy, announced on Monday the launch of its 2022 program.
The program is implemented in partnership with the CYENS Center of Excellence, the Cyprus Chamber of Commerce and Industry (Keve) and the Turkish Cypriot Chamber of Commerce.
“The program aims to encourage innovative entrepreneurs with new business ideas and a cross-communal vision in Cyprus to come together, work in partnership and develop closer contacts between the Greek Cypriot and Turkish Cypriot communities,” the project organizers said in a statement. .
Successful candidates will be supported and assisted in developing and testing their business ideas after completing a series of training courses and a pitching battle.
The top prize for the three winning teams will be their participation in SLUSH, the world’s leading startup expo, to be held in Helsinki, Finland this November.
Applications will be open from 4 July to 19 August 2022.
Detailed information on the criteria and guidelines as well as the application form can be found at https://www.startups4peace.eu.
Applications must be submitted to info@inovatif.eu by August 19, 2022.
The Cyprus Investment Funds Association (CIFA) stated that the growth of the Cypriot investment fund sector is well above the European average, which “demonstrates the dynamics and strengths of the specific sector in Cyprus”.
The net assets of the Cypriot alternative investment fund sector grew by 61.5% year on year, reaching 7.2 billion euros in 2021, according to Fact Book 2022 – Trends in European Investment Funds.
In addition, the total net assets of alternative investment funds in Europe amounted to 8 trillion euros, up 12% year-on-year in 2021.
The fact book is published by the European Funds and Asset Management Association (EFAMA), the leading publication for investment funds in Europe.
In addition, the publication once again listed Cyprus as a center for cross-border investment funds, along with traditional financial services hubs such as Ireland and Luxembourg, citing the fact that more than 45 percent of funds based in Cyprus are owned overseas.
“This trend shows that foreign investment funds trust Cyprus and consider it a reliable place to manage their funds,” explained CIFA President Andreas Yasemides.
“Efforts to further the recognition of Cyprus in international markets are ongoing and we are optimistic that a course of gradual and sustainable development will be secured, which will contribute to the diversification of the professional services model and the Cypriot economy as a whole,” he added.
The Cyprus Stock Exchange ended Monday, July 25, with losses.
The overall Cypriot stock market index stood at 67.01 points at 12:43 pm during the day, reflecting a 0.28% drop from the previous trading day.
The FTSE/CySE 20 Index stood at 40.10 points, down 0.3%.
The total transaction value was 175,295 euros.
As for the sub-indices, the main index and the index of investment companies decreased by 0.71% and 3.87%, respectively.
The alternative index rose by 0.3%, while the hotel index remained stable.
Cyprus Cement Company (+0.81%), Blue Island (-2.22%), Logicom (+0.57%), Demetra Holdings (-4.15%) and Vassiliko Cement Works (no change).
