Demetrios Zoppos, partner at 33East, emphasises that technology innovation in Cyprus is not a linear process but a complex interaction that depends heavily on entrepreneurs. He explains that innovation occurs when propositional knowledge from research and prescriptive knowledge from practical application are combined, a process that remains in early development in Cyprus.

Zoppos outlines the key agents in this process, including researchers, entrepreneurs, investors, and customers, noting entrepreneurs are central because they commit fully to turning ideas into viable products. While Cyprus has a solid research base and supportive frameworks, critical ingredients such as a larger industrial buyer base, risk-taking culture among scientists, and more venture capital remain insufficient.

Highlighting the unique challenges faced by small countries like Cyprus, Zoppos points out that limited domestic markets push startups to think globally from the outset. Although the technology startup scene is nascent, the arrival of new venture funds and a growing community of entrepreneurs mark encouraging early signs that Cyprus’s technology innovation reaction is beginning to take hold.