Cyprus Deep-Tech Ecosystem Surpasses 150 Start-Ups with Nearly €1 Billion in Funding
Cyprus' deep-tech ecosystem now includes over 150 start-ups and has attracted close to €1 billion in competitive research and innovation funding over the last decade, according to findings presented at the 7th DeepTech CY Meetup hosted by the University of Cyprus. The ecosystem spans sectors such as health and biotechnology, energy and climate, AI, robotics, defence, and space.
The event highlighted a significant gap between companies funded by research grants and those that have successfully raised private venture capital. Cyprus has secured the highest per capita competitive EU research funding among member states in both Horizon 2020 and Horizon Europe programs, supporting seven centers of excellence and 22 European Research Council grants. Discussions emphasized the need to enhance ties between academia, industry, and entrepreneurship to convert scientific research into commercially viable ventures.
Panelists from academia, research commercialization platforms like Cyprus Seeds, and start-ups shared efforts to reduce barriers, including legislative challenges around university spin-outs and intellectual property. The event concluded with laboratory tours and networking opportunities to strengthen collaborations across education, investment, and innovation sectors, underscoring Cyprus’ growing infrastructure and expertise in deep tech.
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