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Cyprus Shines at SLUSH 2024: A Regional Innovation Powerhouse

by THEFUTURE.TEAM

November 22, 2024

The Research and Innovation Foundation (RIF) is proudly leading a dynamic Cypriot delegation at SLUSH 2024, one of the world’s most prestigious innovation and entrepreneurship festivals, held in Helsinki, Finland, on November 20-21, 2024.

SLUSH 2024 serves as a global melting pot for entrepreneurs, investors, and thought leaders, creating a fertile ground for collaboration and showcasing cutting-edge ideas. Representing Cyprus are over 40 participants, including 18 promising startups and scaleups, eager to present their groundbreaking solutions to an international audience.

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Heading the Cypriot delegation is RIF Board Member Andreas Andreou. In collaboration with organizations from Bulgaria and Greece, RIF co-organized a compelling side event titled “Breaking Boundaries: SEE Tech Meets the World at Slush”. This initiative not only highlighted Cyprus’s thriving tech ecosystem but also fostered cross-border partnerships with Southeast European neighbours.

During the event, RIF’s Director General, Theodoros Loukaidis, positioned Cyprus as a burgeoning regional hub for innovation and technology. He emphasized the country’s government-backed incentives and significant investments that fuel its entrepreneurial spirit, cementing its reputation as a leader in the Mediterranean tech landscape.

A key highlight was the presentation by RIF Scientific Officer A’, Georgia Kleanthous, who introduced the innovative work of the 18 participating Cypriot companies. Her insights showcased the potential of these startups and scaleups to disrupt industries and deliver value on a global scale.

The event culminated in a networking reception, providing Cypriot businesses with valuable opportunities to connect with international clients and investors. These connections are expected to pave the way for collaborative ventures and accelerated growth for Cyprus’s innovation sector.

Cyprus’s participation in SLUSH 2024 underscores its commitment to innovation and entrepreneurship, solidifying its position as a tech-forward nation ready to make its mark on the global stage.

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Cyprus Construction Trends: Permit Count Slips While Value and Scale Surge in 2025

by THEFUTURE.TEAM

July 11, 2025

The Cyprus Statistical Service (Cystat) has reported a notable shift in the construction landscape for 2025. The latest figures reveal a modest 1.9% decline in building permits issued in March compared to the same month last year, signaling a nuanced trend in the nation’s developmental activities.

Permit Count Decline in March

In March 2025, authorities authorised 572 building permits—down from 583 in March 2024. The permits, which total a value of €361.5 million and cover 296,900 square metres of construction, underscore a cautious pace in permit approval despite ongoing projects. Notably, these permits are set to facilitate the construction of 1,480 dwelling units, reflecting an underlying demand in the housing sector.

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Q1 2025: Growth in Value, Construction Area, and Dwelling Units

While the number of permits in the first quarter (January to March) decreased by 15.8% from 1,876 to 1,580, more significant, economically relevant metrics saw robust growth. Total permit value surged by 21.7%, and the authorised construction area expanded by 15.6%. Additionally, the number of prospective dwelling units increased by 16.7% compared to the corresponding period last year. This divergence suggests that although fewer permits were issued, the scale and ambition of the approved projects have intensified.

New Regulatory Framework and the Ippodamos System

Since 1 July 2024, a pivotal transition has taken place in permit administration. The responsibility for issuing permits has moved from municipalities and district administration offices to the newly established local government organisations (EOAs). The integrated information system, Ippodamos, now oversees the licensing process, streamlining data collection on both residential and non-residential projects across urban and rural areas.

Comprehensive Data Collection for Enhanced Oversight

The Ippodamos system categorises construction projects using the EU Classification of Types of Construction (CC). This platform gathers extensive data on the number of permits authorised, project area and value, and the expected number of dwelling units. It covers a broad spectrum of construction activities—from new builds and civil engineering projects to plot divisions and road construction—while excluding renewals and building divisions. The thoroughness of this new regulatory structure promises greater operational transparency and more informed decision-making for policymakers and industry stakeholders.