CIM-Cyprus Business School has teamed up with Flyfish to launch the "Apprenticeship" project, a pioneering initiative designed to bridge the gap between academia and the labor market in Cyprus. This project offers students a unique opportunity to gain hands-on experience while pursuing higher education, with full tuition subsidies for Bachelor's or Master's programs at CIM. By combining work and study, students not only enhance their academic credentials but also secure a promising career path in the tech industry. To explore the implications and benefits of this collaboration, FastForward sat down with Yangos Hadjiyannis, CEO of CIM-Cyprus Business School.

During the interview, Hadjiyannis elaborates on the main goals of the "Apprenticeship" project, highlighting its alignment with the state's strategy to connect the academic community with the demands of the labor market. He discusses the initiative's role in providing access to education for those who might otherwise lack the financial means and its impact on creating a clear career trajectory for participants. Hadjiyannis also touches on the broader implications for the Cypriot economy and the potential for expanding similar collaborations with other companies in the future.

New employees at Flyfish through the "Apprenticeship" project, will receive a full salary for their work and at the same time 100% of their tuition fees will be subsidized for studies in any Bachelor or master’s programme offered by CIM-Cyprus Business School in Nicosia and Limassol. All courses are delivered in the evening hours and therefore new employees will be able to combine their work with their studies. Upon completion of their studies, they will be provided with the opportunity for permanent employment and therefore will be guaranteed a professional career in one of the leading technology companies operating in Cyprus.

We monitor market needs and we respond accordingly. The idea came through extended discussions between our teams on what we can do to both help the local community and attract new talent. Other than the fact that this scheme provides the opportunity to our associates at Flyfish to attract new talent, it also has a strong element of corporate social responsibility as it provides the opportunity to individuals who might not have had otherwise the financial means to sponsor their studies. Imagine what it means to parents in Cyprus who invest considerably on their children’s education, to have 2 leading Organisations offering them the opportunity to educate their children and received acclaimed qualifications at zero cost! Not to mention the exciting and well-paid career path that the scheme provides at Flyfish.

It is the 1st project of its kind in Cyprus and offers many advantages since it fully achieves the state's strategy for connecting the labour market with the academic community, it provides the opportunity to people who cannot afford to study and it is providing individuals with a clear career plan, thereby maximizing the return on each student's investment.

We have followed the specifications of similar schemes abroad and it is unique in that it places no limits on the selection of the Bachelor or Master programme and no restriction on age so suitable for both young and mature students.

As already mentioned, this scheme is highly appealing and sets apart the selected participants from other students. The fact that participants are to be employed right away – not an internship – and be fully active in the business world while studying at Cyprus’ leading business school, really secures their future. After 3-4 years of studies, they will earn one of the leading qualifications available in Cyprus and have 3-4 years’ work experience in a leading tech company. The biggest problem young graduates face is that employers always ask for experience. We are solving this problem with our innovative apprenticeship.

This scheme bridges the gap between academia and the business world. It is fully aligned with the government’s efforts to implement Vision 2035 and we strongly believe that we will set an example for others to follow. Moreover, it creates a clear career path and maximises return on investment. Now, unemployment in Cyprus is very low and there is great demand for talent. However, there is a great mismatch between what Universities teach and what the industry requires, especially in a rapidly changing environment. Bridging the gap between academia and the business world is essential, and this program is a pioneering step in that direction.

This scheme is expected to have a significant impact on the local economy as it enhances the type of student who works and studies at the same time, which means that he/she will be connected to the real business world from Day 1 and will contribute to the economic development.

The biggest problem of academia is that on many occasions is disconnected from the real business world and by the time a student graduates, some of the theories taught might be obsolete. Moreover, this scheme allows students who do not have the financial means to sponsor their studies to earn a Degree with no financial investment.

We are already in talks with various companies who would like to introduce similar schemes. As the leading Business School in Cyprus since 1978, we have been paving the way for business education and we have introduced many ground breaking initiatives that others have followed. We continue to educate future business leaders and such schemes are both innovative and impactful.

What: CIM-Cyprus Business School

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Who: Yangos Hadjiyannis earned an LL.B. with a First-Class Honours from the University of Nottingham. He then moved to the University of Cambridge (Trinity Hall) where he earned a Postgraduate Diploma in Management Studies and the next year, an LL.M. in International Law with a First Class Honours. In May 2022 he completed successfully the highly exclusive Executive Education program “Authentic Leadership” at Harvard University. In July 2022, he was awarded an Honorary Doctorate in Business Administration by the University of West London. From 2008 to 2019, he was the Deputy Director-General of CIM-Cyprus Business School, in charge for business development and strategy. Since 2020 he is the Chief Executive Officer. He is a Non-Executive Director at KEDIPES (Cyprus Asset Management Company). He is also a member of the Board of Directors of CIPA (Invest Cyprus) and Chairman of the Promotion Committee. Moreover, he is a member of the Cyprus Advertising Control Agency and member of the Executive Committee of the Cyprus Employers & Industrialists Federation (OEB). Yangos Hadjiyannis is an advisor to many companies on issues of strategy and management. In recent years, he took up a research interest in Economics and Financial affairs and he has published various Articles with the local and international press. He is a commentator for the local media on financial affairs and as such he is regularly hosted on TV and radio.