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Cyprus Launches Space Business Incubator To Boost Innovation And ESA Integration

Cyprus is taking a bold step into the space economy with the launch of its first Space Business Incubator Center (Space BIC), spearheaded by the Eratosthenes Centre of Excellence. The agreement to establish the incubator was signed on March 17, 2025, during the 11th International Conference on Remote Sensing and Geo-Information for Environment in Paphos. The signatories included Georgios Komodromos, Deputy Director General of the Deputy Ministry of Research, Innovation, and Digital Policy, and Professor Diofantos Hadjimitsis, CEO of the Eratosthenes Centre of Excellence.

“The Space BIC represents a major leap forward in fostering a cutting-edge innovation ecosystem in the space sector, with wide-ranging benefits for Cyprus,” the Centre stated.

A Strategic Gateway To The European Space Economy

The incubator is more than just a hub for startups—it’s a strategic initiative positioning Cyprus for deeper integration into the European Space Agency (ESA). By supporting pioneering space technologies and applications, the program aims to drive the growth of space-focused enterprises while cultivating international industry collaborations.

Nurturing Space Startups And Cross-Border Partnerships

Designed to support entrepreneurs leveraging space-based technologies, the incubator will provide resources, mentorship, and funding opportunities for early-stage companies. It will also facilitate the creation of startup clusters, strengthening cooperation and accelerating knowledge exchange across borders.

“Startups will go through a structured selection process to secure support for their ventures—whether in satellite technology, hardware development, or data-driven applications,” the Centre explained. The selection rounds will be held multiple times a year, ensuring a steady pipeline of innovation in Cyprus’s emerging space sector.

With this initiative, Cyprus is staking its claim in the global space economy—fostering innovation, attracting investment, and positioning itself as a key player in Europe’s space technology landscape.

Cyprus Faces Persistent Labour Shortages Across Healthcare, Technology And Tourism

Cyprus is facing a widening labour market mismatch, with 63 occupations in shortage and 11 in surplus in 2024, according to the EURES Labour Shortages and Surpluses Report 2025.

The findings highlight continued recruitment challenges across several of the island’s key industries, particularly healthcare, technology and tourism.

Healthcare And Technology Face The Greatest Shortages

Healthcare occupations recorded some of the most severe shortages, including nurses, midwives, medical imaging technicians, general practitioners, specialist doctors, healthcare assistants and health and care services managers.

Demand also remains high for technology professionals. Employers reported shortages of information and communications technology sales specialists, systems analysts, software and applications developers, as well as web and multimedia developers.

Transport and hospitality occupations were also affected, with waiters and bus drivers among the professions experiencing shortages.

Tourism, Retail And Construction Continue To Feel The Pressure

Moderate shortages were identified across occupations linked to tourism, retail and construction. These include restaurant managers, retail and wholesale managers, accountants, electricians, electronics and mechanical technicians, chefs, shop sales assistants and cashiers.

Construction and industrial trades also remained under pressure. Builders, air conditioning and refrigeration technicians, welders, heavy goods vehicle drivers, cleaners and workers in agriculture, livestock, fisheries and construction-related services were all listed among occupations facing shortages.

Lower-severity shortages were recorded for engineers across several disciplines, hotel receptionists, cooks, carpenters, plumbers, electrical fitters, bakers and kitchen assistants.

Cyprus Reflects A Wider European Trend

Cyprus mirrors a broader labour market imbalance across the European Union, although shortages vary significantly between member states. Bulgaria, Italy and the Netherlands reported shortages across a wide range of occupations, from doctors to welders, with 57% classified as moderate or severe. Latvia, Austria and Finland, by contrast, recorded more labour surpluses, particularly in administrative and creative occupations.

According to the report, 98% of occupations experiencing shortages in at least one member state also recorded surpluses elsewhere in the European Union.

Structural Barriers Continue To Limit Labour Mobility

EURES attributes these imbalances to several structural factors, including limited awareness of job opportunities abroad, difficulties in recognising professional qualifications, language barriers and wage differences between countries.

Healthcare and social care remain among the sectors facing the greatest shortages across Europe, driven by ageing populations and growing demand for healthcare services.

Demand is also increasing for technical occupations linked to the green transition, including electricians, plumbers and roof technicians, as countries continue investing in energy efficiency and infrastructure.

Measures Proposed To Address Labour Gaps

The report recommends strengthening labour mobility across the European Union by simplifying the recognition of professional qualifications and reducing administrative barriers. It also calls for improvements in job quality, greater investment in vocational education and training, and measures to encourage higher labour market participation among women, older workers and migrants.

The findings are based on administrative data submitted by EURES National Coordination Offices for 2024, drawing on information from public employment services and other national sources across the European Union.

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