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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.

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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.

Egypt’s Suez Canal Economic Zone Draws $8.1B In Investments Through 255 Projects

by THEFUTURE.TEAM

February 4, 2025

Egypt’s Suez Canal Economic Zone (SCZone) has secured an impressive $8.1 billion in investments across 255 projects in the last 30 months, according to an official announcement on Monday.

Major Investment Boost For SCZone

The General Authority for the SCZone has successfully attracted 251 projects in its industrial zones and ports, accumulating $6.2 billion in capital investments, which has resulted in around 28,000 new jobs, as stated by SCZone Chairman Walid Gamal El-Din.

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Additionally, four new projects have brought in $1.8 billion in investments, boosting the total capital inflows within the zone. These developments were discussed in a meeting with Mohamed Zaki El Sewedy, Chairman of the Federation of Egyptian Industries (FEI), and other officials from various chambers of commerce.

Strengthening Industrial Ties And Opportunities

The meeting focused on expanding investment prospects, fostering collaboration, and addressing challenges faced by industrial firms with strong export potential. A key objective was to encourage businesses to scale up their operations within the SCZone, leveraging its prime location, advanced infrastructure, and investor-friendly policies.

El-Din stressed the importance of the SCZone in driving Egypt’s economic growth and industrial transformation, citing the Ain Sokhna Integrated Industrial Zone as a flagship example of development. This zone is a testament to Egypt’s growing presence as a competitive global manufacturing hub.

The continued partnership between the SCZone and the private sector, El-Din noted, plays a pivotal role in building a strong ‘Made in Egypt’ brand, supporting local industrial development, and boosting innovation to improve Egypt’s position in global markets.

Acknowledging Achievements And Future Collaboration

El Sewedy praised the SCZone for its efforts in creating a robust investment climate, offering comprehensive services, incentives, and cutting-edge infrastructure. This meeting marked the beginning of a deeper collaboration between the SCZone and FEI, setting the stage for future joint initiatives.

Egypt’s Economic Outlook

Egypt’s economy is projected to grow by 4% in the year leading up to June, bolstered by supportive measures from the IMF, according to a Reuters poll conducted in January 2025. The poll also forecasts a GDP growth acceleration to 4.7% in 2025-26 and 5% in 2026-27.

However, the country’s GDP growth slowed to 2.4% in 2023-24, down from 3.8% in the previous year, primarily due to the ongoing currency crisis and the geopolitical impact of the war in neighboring Gaza, according to the Central Bank of Egypt.