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Writer's pictureNiyal Öztürk

Technology and Entrepreneurship in the northern part of Cyprus: Challenges and Opportunities

Updated: Jan 22

 Technological transformation of northern part of Cyprus deliberated at the Telecommunications Technologies Summit held by GITYAD in Nicosia



The Telecommunications Technologies Summit was held on January 17, 2024, in Lefkoşa by the Cyprus Entrepreneurship and Technology Investment Association (GITYAD) with an aim on addressing the technological transformation of the northern part of the island. Several challenges and opportunities were addressed at the event. Here are some key highlights:

 

Challenges:

1. Industry-University Collaboration: While there are innovative projects developed in universities, the biggest challenge is the disconnect between academia and industry, resulting in underutilized resources.


2. Employment of Foreign Graduates: Overcoming obstacles related to the employment of foreign students upon their graduation is crucial for them to contribute to economic development. Finding and retaining quality software engineers who are proficient in both English and Turkish is a significant challenge.


3. Cybersecurity: Technological advancements increase the risks of cybersecurity; hence, the need for local solutions in this field becomes more apparent. Emphasizing local ownership of critical technologies and a strong focus on cybersecurity is crucial.


4. Transformation of Good Projects into Ventures: To foster entrepreneurship and turn promising projects into local startups, the gaps in the ecosystem dynamics need to be addressed. Simplifying the process for foreign students to start businesses is one recommendation.

 

Opportunities:

1. 5G Infrastructure: 5G presents a significant opportunity for digital transformation. High-speed internet and low latency encourage the development of new applications and technologies, providing a chance to catch up with the world in the digital domain.


2. University Resources: Universities hold great potential for innovation and technology development. Integrating these resources more effectively with the industry is key.


3. Technology Incentives: northern part of Cyprus offers various opportunities to attract digital investments, including technology zones and free zone company incentives. Further development of these incentives is recommended.


4. Collaboration and Clustering: Increased collaboration and clustering in sharing infrastructure costs and targeting international markets.


5. Strategic Approach: Long-term strategic planning is crucial for the development of digital entrepreneurship in the northern part of Cyprus. Encouraging cooperation among the local bodies, operators, and infrastructure providers is highlighted as a necessary step.

 

While Cyprus faces challenges in its technological and entrepreneurial journey, it also has abundant opportunities to leverage. By addressing these challenges strategically and fostering collaboration, the northern part of Cyprus can pave the way for a thriving digital ecosystem and sustainable growth.



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