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Cyprus Seeds And Julie Fisher: Advancing Cyprus’ Innovation Ecosystem

by THEFUTURE.TEAM

June 5, 2024

Cyprus Seeds, a pivotal non-profit organisation dedicated to converting academic research into successful startups, recently held a significant meeting with Julie Fisher, the Ambassador of the American Embassy in Cyprus. This discussion underscored the strategic initiatives supporting Cyprus’ burgeoning innovation ecosystem.

Transformative Mentorship and Training

A focal point of the meeting was the introduction of esteemed USA experts Jonathan B. Green, Paul Blackborow, and Linda Plano. Over the past five years, these experts have provided critical mentorship and training, significantly contributing to the development of innovative projects within Cyprus.

Strengthening US-Cyprus Collaboration

The dialogue also explored the role of the US Embassy in further enriching Cyprus’ dynamic innovation landscape. Both parties deliberated on enhancing existing support mechanisms and identifying new opportunities to foster a more robust entrepreneurial environment.

Cyprus Seeds’ Mission and Impact

Cyprus Seeds has been instrumental in nurturing innovative startups by bridging the gap between academic research and commercialisation. Their initiatives have not only fostered entrepreneurial spirit but also positioned Cyprus as a promising hub for innovation in the region.

This meeting marks a milestone in the collaborative efforts to boost Cyprus’ innovation ecosystem. With continued support from international experts and strategic partnerships, Cyprus is poised to become a significant player in the global innovation landscape.

New Decrees For Blue Card And Foreign Students: Key Changes And Implications

by THEFUTURE.TEAM

December 20, 2024

The Ministry of Labor and Social Insurance has announced a series of new measures aimed at addressing the increasing demands of Cyprus’ labor market. These initiatives are designed to attract highly skilled professionals from third countries and broaden employment opportunities for foreign students in select fields, as outlined in the recent Decrees published in the Official Gazette of the Republic.

Attracting Skilled Professionals

One of the key updates is the introduction of a minimum annual salary for foreign professionals, which has been set at €43,632, 1.5 times the average gross annual salary in Cyprus. This salary threshold applies to individuals coming to work in sectors such as Information and Communication Technologies (ICT), pharmaceuticals for research purposes, and maritime industries (excluding skippers and crew).

Expanded Employment Options For Foreign Students

The new regulations also provide an update on the employment rights of foreign students. From December 2024, students from third countries will be able to work in Cyprus, with the new rules replacing the previous March 2024 start date.

Students studying ICT who have completed their first academic semester will be eligible to work in occupations related to their field of study, thereby gaining practical experience while pursuing their education.

In response to critical sector shortages, the regulations also clarify the specific occupations and salaries that Blue Card holders—third-country nationals—will be eligible for in Cyprus. The Blue Card, in line with the European Directive, allows highly skilled professionals to live and work in EU member states.

Strengthening The Labor Market and Economy

These updates are expected to bolster the supply of specialized workers in key sectors, addressing existing gaps and promoting the continued growth of Cyprus’ economy. At the same time, the new measures offer foreign students enhanced opportunities for professional development, facilitating their seamless integration into the country’s workforce.