Cypriot start-ups at the Web Summit with CIPA and CRPF support

Startup News

An important opportunity for networking with potential investors in the largest forum of technology and entrepreneurship

Three Cypriot start-ups represented the country at the popular Web Summit held in Lisbon, Portugal on 6-9 November 2017. The participation of Bandster, Video Brewer and was jointly funded by the Cyprus Investment Promotion Agency (CIPA – Invest Cyprus) and Cyprus Research Promotion Foundation (CRPF).

During Web Summit, the representatives of the three new businesses, selected by CIPA and CRPF through pitching, presented their products and services in separate booths. From that stage, they had the opportunity to reach out to potential investors and expand their network, looking for funding to help them develop their business. It is noteworthy that achieved significant distinction as it was selected as one of the 200 most promising start-ups of the conference, among 2000 participants.

Additionally, the participants had the opportunity to attend presentations by top executives and other representatives of successful businesses such as Facebook, Intel, Reddit, Oracle, Tinder,, Amazon, Microsoft, Google, Uber, etc. and meet some important international individuals such as the Prime Ministers of Portugal, Estonia, Luxembourg, the UN Secretary-General, Commissioners of the European Union and other officials of the European Commission and the European Parliament and others.

The Web Summit's activities were attended by three more start-ups, who participated in the Cypriot mission, also with the support of the two organizations.

Web Summit 2017 cyprus invest team

A specially designed pavilion with representatives of CIPA and CRPF was presented at the conference venue, which presented visitors with the investment opportunities and competitive advantages that Cyprus offers in the areas of research, innovation and entrepreneurship.

On behalf of CIPA, Natasa Pilides, Director General, said: "As part of our efforts to promote innovation, research and entrepreneurship, we have the honor to support the participation of leading Cypriot start-ups in Web Suumit, the largest global forum of its kind. We hope that their participation will be catalytic in attracting investment in our country and we are confident that Cyprus will soon become an attractive center for the realization of ideas that have the capacity to create added value and to contribute to the acceleration of economic growth ".
For his part, the Director General of the CRPF, Dr. Vassilis Tsakalos said: "The CRPF supports the start-ups because this enriches the Cypriot business ecosystem with dynamism and innovation. In this way, the shift to an economy based on high added value products and services is fostered and fosters research, application of new technology, innovation, extroversion and internationalization. "

The Web Summit is perhaps the largest technology and entrepreneurship forum in the world. This year, it attracted 60,000 visitors and is held annually with the participation of hundreds of start-ups from around the world.