The concept of the incubator for high technology companies is based on the realisation that researchers or inventors may be very good in their field, but do not necessarily possess the necessary entrepreneurial skills and experience to make good businessmen. In addition, the initial stages of creating an enterprise in the high-tech field involve many risks, which act as a deterrent for external investors. As a result, many excellent ideas are left unexploited. The Technology-Incubating Program is an innovative system by the Government of Cyprus, designed to assist entrepreneurs and inventors in the development of new technology-based companies. It seeks to effectively link talent, technology, capital and know-how in order to accelerate the development of new companies thus speeding up the commercialization of technology.The document explains the policy objectives and sets out the details regarding the beneficiaries, financing, procedure and its implementation.

Cyprus Ministry of Commerce, Industry and Tourism
http://www.mcit.gov.cy/
George Michaeloudes (Director of Technology), tel. +35722409310

21/10/2005

21/10/2005

policy

Urban Policy > Economy knowledge & employment

Research & innovation, Urban economy