Breaking news

Kinisis Ventures Launches KV Fund II to Accelerate Cypriot Innovation

by THEFUTURE.TEAM

September 16, 2024

Kinisis Ventures has announced the launch of its new fund, KV Fund II, marking a significant expansion in its mission to foster innovation in Cyprus. With this strategic move, the venture capital firm aims to empower early-stage tech startups and entrepreneurs, positioning itself as a key player in the island’s growing startup ecosystem.

Founded with a vision to support companies that have high growth potential, Kinisis Ventures has long been committed to nurturing the next wave of innovators. The newly launched KV Fund II, with a target size of €50 million, builds on the success of the original fund, which had a crucial role in seeding and scaling several successful startups across Europe and North America. The firm’s latest initiative will focus on providing capital and mentorship to tech companies at critical stages of development, to turn these ventures into globally competitive players.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Expanding Local Opportunities in a Global Context

KV Fund II represents not only an influx of financial support but also a bridge to international markets. With Cyprus evolving as a tech hub in recent years, the fund offers local startups access to a global network, a significant advantage for emerging companies looking to scale. By focusing on companies that exhibit strong potential for cross-border expansion, Kinisis Ventures is setting the stage for Cypriot companies to integrate into the global tech landscape.

Moreover, the fund aligns well with Cyprus’ strategic objective of fostering entrepreneurship, especially in sectors such as fintech, healthtech, and clean energy. KV Fund II is expected to fuel further growth in these industries, with a focus on disruptive technologies and solutions that address both local and global challenges.

Kinisis Ventures’ decision to expand comes at a critical time for Cyprus, a country that has increasingly attracted attention as an emerging tech ecosystem. Over the last decade, the island has seen a rise in both the number and quality of startups, thanks in part to government-backed initiatives aimed at fostering innovation and entrepreneurship.

The launch of KV Fund II is timely, reflecting Cyprus’ growing reputation as a centre for business and innovation. The fund’s focus on early-stage startups will likely stimulate further growth and innovation, positioning Cyprus as a key player in the global tech scene.

With the continued support of venture capital firms like Kinisis Ventures, Cyprus is poised to strengthen its position as a promising destination for tech investment and innovation. The future of the island’s tech ecosystem looks bright, and KV Fund II is set to play a pivotal role in shaping that future.

The Future Forbes Realty Global Properties

Industry Uproar Over Reduction in Electric Vehicle Subsidies

by News Editor

April 26, 2025

The recent move by the government to curtail subsidies for electric vehicles has stirred significant discontent among car importers in Cyprus. The Department of Road Transport (DRT) has slashed available grants under the Electric Vehicle Promotion Scheme as of April 23, leading to a rapid depletion of the subsidy pool and leaving many potential applicants disappointed.

Importers’ Concerns

According to the Cyprus Motor Vehicle Importers Association (CMVIA), the lack of transparency and failure to engage stakeholders prior to the decision have eroded trust in the government’s commitments. Importers now find themselves facing a precarious situation, with substantial stocks of electric vehicles and mounting promotional expenditures.

Public Interest and EU Compliance

Although the scheme aimed to support the transition to zero-emission transport until 2025, the DRT states that the curtailing of funds was necessary to comply with European funding terms, which warned against delays in vehicle deliveries. This decision has fueled market uncertainty despite the application portal experiencing dynamic changes.

Industry’s Ongoing Demand

The CMVIA refutes any claims suggesting waning interest in electric vehicles, underscoring the rapid exhaustion of available grants as proof of substantial demand. They highlight the importance of meeting Cyprus’s green transition targets, including putting 80,000 electric vehicles on roads by 2030.

While the total budget for subsidies saw an increase to €36.5 million in 2023, thanks to additional funding, ongoing difficulties in timely vehicle distribution have led to premature closures of applications. In response, CMVIA has called for urgent dialogue with the Minister of Transport to reassess the decision, fearing that it could endanger the future of e-mobility in Cyprus.