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National Bank Of Greece Cyprus And University Of Cyprus Lead Innovation In Entrepreneurial Competition 2025

by THEFUTURE.TEAM

November 18, 2025

National Bank Of Greece Cyprus has strategically partnered with the University Of Cyprus to bolster the initiatives of the Cyprus Entrepreneurship Competition (CyEC) 2025 through its prestigious NBG Business Seeds programme.

Strengthening The Entrepreneurial Ecosystem

Committed to fostering dynamic and forward-thinking business solutions, NBG Cyprus is leveraging its long-standing support for innovative entrepreneurship. The bank’s initiative highlights a deliberate effort to transform creative ideas into viable, market-ready ventures, setting a benchmark for business development in the region.

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Promoting Strategic Collaboration

Organized by the University of Cyprus’s Centre for Entrepreneurship (C4E) under the auspices of the Ministry of Energy, Commerce, and Industry, the competition is a milestone event designed to spur innovation. This year, the competition has attracted a record participation of over 50 teams from across Cyprus, reinforcing its role as a key platform for emerging start-ups and young professionals.

Unlocking Global Opportunities

Winners of the competition will gain direct access to Phase B of the 16th Innovation and Technology Competition, an initiative that spans both Greece and Cyprus. This fast-track promotion not only opens the door to a vast network of investors, mentors, and innovation experts but also positions the participating entrepreneurs to compete on a broader, regional stage.

This collaboration is a testament to the power of strategic partnerships in accelerating entrepreneurial growth and technological innovation.

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Meta’s Reality Labs Deepens Its Losses Even As Revenue Climbs

Meta Platforms’ Reality Labs division reported an operating loss of $4.62 billion in the second quarter, highlighting the continued cost of the company’s investments in virtual and augmented reality technologies. The unit generated revenue of $431 million, up from $370 million a year earlier and above analysts’ expectations of $423.4 million, according to StreetAccount. Operating losses widened from $4.53 billion in the same quarter of 2025.

Revenue Grows As Losses Continue

Despite higher revenue, Reality Labs remains one of Meta’s biggest cost centres. Since late 2020, the division has accumulated more than $80 billion in operating losses as the company continues investing in hardware and software for its long-term computing strategy.

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Focus Shifts Toward AI Wearables

Reality Labs develops the Quest virtual reality headsets and Ray-Ban Meta smart glasses in partnership with EssilorLuxottica. While Meta originally positioned the division around its metaverse vision, the company has increasingly focused on AI-powered wearables as demand for virtual reality devices has grown more slowly than expected.

Long-Term Investment

Meta renamed Facebook to Meta in 2021 to reflect its strategy of expanding beyond social media through immersive technologies. Although Reality Labs continues to report multi-billion-dollar quarterly losses, Zuckerberg has maintained that investments in AI, wearable devices and next-generation computing platforms are central to the company’s long-term growth strategy.