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CYENS Kicks Off Its Pre-Accelerator Programme

by THEFUTURE.TEAM

The Pre-Accelerator Programme at CYENS has officially begun, offering a unique opportunity designed specifically for researchers to bridge the gap between innovative ideas and market-ready solutions.

“Tailored for CYENS researchers and guided by esteemed professors from the University of Cyprus, this programme is a pivotal step for those aiming to transform groundbreaking research into viable, impactful startups,” the post noted.

It also listed the following key benefits of the programme:

  • Structured Framework: The pre-accelerator provides a comprehensive framework, guiding researchers through crucial stages of commercialisation, from concept validation to business model development.
  • Experienced Mentors: Participants will engage with seasoned mentors who have successfully transitioned from research to entrepreneurship, offering invaluable insights to refine ideas, avoid common pitfalls, and expedite market entry.
  • Essential Resources: Researchers will gain access to funding opportunities, legal advice, and networking events—vital resources for turning research into successful ventures.
  • Skill Development: The programme enhances entrepreneurial skills through intensive workshops and training sessions covering business planning, market analysis, intellectual property management, and more.
  • Collaboration and Networking: Participants will connect with like-minded researchers and entrepreneurs, fostering collaborative projects, partnerships and co-founding opportunities to expand the impact of their research.
  • Visibility and Exposure: Researchers will have the chance to showcase their projects to potential investors, industry leaders, and strategic partners, attracting the support and resources needed to bring their innovations to market.
  • Industry Mentors: Starting in July, participants will be paired with industry experts who will guide them through the commercialisation process with real-life experiences and insights.

“This programme is essential for researchers looking to turn their innovative research into successful startups and is a testament to CYENS’ commitment to fostering entrepreneurship and innovation,” the post concluded.

Interest rates on housing loans up and down on deposits

by THEFUTURE.TEAM

Cypriot banks raised mortgage rates in August while cutting interest on one-year deposits for households, according to data released by the Central Bank of Cyprus (CBC).

Meanwhile, the total value of new loans dropped sharply in August, falling by 33 per cent compared to July.

The latest figures, published on Wednesday reveal that the interest rate for short-term deposits by households fell to 1.79 per cent, from 1.96 per cent in July. In contrast, the deposit rate for businesses (non-financial companies) travelled in the opposite direction up to 2.33 per cent in August from 2.28 per cent in the previous month.

Consumer loan rates also saw a small decline, dropping to 6.59 per cent from 6.67 per cent in the previous month. Mortgage rates rose marginally to 4.65 per cent, from 4.59 per cent.

Rates for businesses, on loans €1 million also fell to 5.36 per cent from 5.61 per cent. For loans

above €1 million the rate fell to 5.42 per cent from 5.64 per cent.

In terms of new loans, there was a marked drop across the board. Total new loans fell to €395.5 million, down from €596.3 million in July.

Consumer loans also fell with net new loans at €19m, compared to July’s €28m (€26.1m net).

Loans for house purchases also declined significantly, falling to €95.6m, of which €72.3m were net new loans, down from €134.3m (€100.7m net) in July.

New loans of under a million euro to businesses decreased to €52.8m (€34.1m net), down from €75.5m in July (€49.5m net).

Similarly, loans of over a million euros were halved to €179.3m (€78.3m net), compared to €345.2m (€211.8m net) in the previous month.

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