The Reflect 22 technology and entrepreneurship in Limassol, has exceeded expectations in participation from Cyprus and abroad, aiming for a new attendance record next May. Among the organizers, businessman Stylianos Lambrou told us that the delegates (employees, founders, investors in technology companies and students) exceeded 5000, of which 1200 from abroad. As well as that the 3-day event was an injection for the economy, with many stays in hotels and full recreation areas and restaurants.
Mr. Lambrou indicated that the goal is to increase the percentage of delegates from abroad, since it provides an impetus for international companies to operate offices or move their headquarters. According to him, Limassol is already a center for international technology and innovation companies, while global developments and the proximity to the Middle East, which has difficulty attracting talent, are an opportunity. "Cyprus can be a channel for the countries of the Middle East to the European ones, and vice versa European companies based in Cyprus can have access to this important market", he indicated.
Finally, he emphasized that the technology sector contributes around 9% of the GDP, while it also helps other sectors of the economy. The General Director of the non-profit organization "TechIsland", Marios Giorgoudis, emphasized that comments from delegates were highly encouraging and help to build for the future, through the conference. He pointed out that its huge success is partly because Cyprus has already started to develop into a center for international technology and innovation companies.
He indicated that this is also confirmed by the number of technology companies registered in the Ministry of Commerce's Fast Track Business Activation Mechanism, which exceeded 1000 in 2022. As well as the fact that the Ministry of Interior recently announced the issuance of over 8000 work permits to foreign skilled personnel, most of whom to be employed in technology companies. Marios Giorgoudis concluded by saying that, "TechIsland, is the largest association of technology companies in Cyprus with more than 200 member companies. We see that in the last two years the technology sector has recorded a more than a 60% increase in its activity cycle and contribution to the country's GDP; we hope that in the coming years it will become one of the main sectors of our economy".
