Invest Cyprus and ANIMA Investment Network have announced the establishment of EUROMED iHouse, a service platform based in Nicosia. The platform aims to support economic operators in the Euro-Mediterranean area in their innovation and green transition efforts.

The project, initiated by Invest Cyprus and the ANIMA network, is set to launch in early 2024. The announcement of EUROMED iHouse's establishment and operation took place during the annual ANIMA Forum, with the theme "Innovations for the Planet," held in Nicosia from July 10-12.

Emmanuel Noutary, Managing Director of ANIMA, highlighted that their organization is a network of around 70 economic organizations spanning 22 countries across Europe, North Africa, and the Middle East. The community consists of professionals, including entrepreneurs, investors, and innovators, who share two objectives: promoting economic cooperation to bring Mediterranean economies closer together and helping companies make a positive impact on the planet, people, and sustainable development.

Addressing the sustainability challenges faced by companies, Noutary emphasized the need for innovation and technology. Thus, the decision was made to establish EUROMED iHouse in Nicosia, serving as a platform to support the creation of value-driven solutions that also consider the limitations of the planet and prioritize the protection of life in the Mediterranean region.

Cyprus was selected as the location for EUROMED iHouse due to its strategic proximity to dynamic markets in the southern Mediterranean, such as Egypt, Jordan, and Lebanon, which possess vibrant innovation and technology ecosystems. Noutary also acknowledged Cyprus' own lively innovation ecosystem, boasting excellent research centers and incubators, making it an ideal foundation for supporting innovation and entrepreneurship in the Mediterranean region.

Noutary emphasized that Cyprus, being on the frontlines of climate change, experiences the consequences of this global issue firsthand. As a result, both the people of Cyprus and other Mediterranean countries demand solutions. Consequently, establishing the innovation hub in Nicosia would be highly beneficial.

With the creation of EUROMED iHouse, Noutary expressed their aim to foster broad collaboration in the Euro-Med region by hosting and promoting startups, organizing support programs, facilitating research transfer to companies in the area, and partnering with international organizations, particularly the EU, to implement cooperation projects between business and innovation organizations across Euro-Med countries.

Marios Tannoussis, CEO of Invest Cyprus, noted that the project was a joint initiative between ANIMA, Invest Cyprus, and with support from the EU and the Republic of Cyprus. Additionally, local state and private entities such as the Research and Innovation Foundation, Nicosia Municipality, centers of excellence, companies, and universities contribute to the project.

Tannoussis described EUROMED iHouse as a pioneering regional research center for business innovation and technological knowledge transfer from the wider Eastern Europe, Middle East, and Africa region in response to the climate change challenges faced by countries in this region.

He emphasized that ANIMA's decision to establish EUROMED iHouse in Nicosia not only honors the city but also strengthens Cyprus' position as a regional hub for research, innovation, entrepreneurship, and development, opening up opportunities for collaboration.

Tannoussis also highlighted the promotion of the digital economy, research, development, and innovation as integral parts of Cyprus' national strategy, aligning with the government's priorities and Invest Cyprus' vision for sustainable development of the Cypriot economy by 2035.

The CYENS Center of Excellence expressed its interest in cooperating with EUROMED iHouse from the outset. Yiorgos Chrysanthou, the CYENS General Director, emphasized the center's commitment to promoting advanced technologies and specialization in innovation. He sees CYENS as an ally and supporter in the implementation of the EUROMED project.

CYENS is a partnership between the Municipality of Nicosia, the three public universities in Cyprus, University College London, and the Max Planck Institute of Germany. Chrysanthou expressed their eagerness to participate in such actions and promising practices, highlighting the importance of creating EUROMED iHouse in Nicosia to promote research, innovation, and cooperation in the Euro-Mediterranean region and establish Cyprus as a regional innovation hub.

Chrysanthou noted Cyprus' progress in becoming a "Strong Innovator" according to the European Innovation Scoreboard, rising to the 10th position in the overall ranking of EU member states this year. He highlighted the significant growth in universities, research institutes, centers of excellence, and startups over the past few decades, underscoring the country's dedication to research and innovation.