The University of Cyprus
The University of Cyprus
The University of Cyprus was established in 1989 and now has six faculties: the Faculty of Humanities, the Faculty of Pure and Applied Sciences, the Faculty of Economics and Management, with two departments, the Economic Research Centre and the Centre for Banking and Financial Research, the Faculty of Engineering, the Faculty of Letters, and the Archaeological Research Unit, the Faculty of Social Sciences and Education with four departments.
The University of Cyprus organizes on an annual basis since 2003, the Cyprus Entrepreneurship Competition (CyEC) a Business Plan Competition. CyEC aims to nurture entrepreneurial culture among young scientists in Cyprus and challenge them to transform their ideas into real business opportunities and to leading companies of tomorrow. In its seven year history, CyEC alumni have successfully launched a significant number of start-up companies, some with significant investments and revenues.
The University of Cyprus created the Diogenes Business Incubator in 2003 to support the development of the high technology sector in Cyprus. Diogenes began operations in 2004 under the Cyprus Government Program for Creating High Technology Enterprises through Business Incubators. The Ministry of Commerce provides seed capital of €200.000 max to entrepreneurs for startup creation in order to develop and commercialize high tech ideas.
