Cities of Innovation: Nicosia
Key indicators
ICT Infrastructure
Average download speed (Mbps)
IT Spending (excluding telecommunications)
— Several major international ICT companies have long operated regional headquarters in Cyprus: · NCR · AMDOCS · 3CX · WARGAMING · Viber · Whipper
Local, national and international transport links
International airports
Flight destinations
— 45 Several ports with the main one in Limassol – Intercity and city buses offer visitors a way to move around the island, as do taxi services
University links and access to talent
Universities and public higher education institutions
Workforce with a tertiary degree
— Important private higher education institution like Frederick — 80% of Cypriots speak English
Costs and availability of workspace
Co-working spaces
Spaces in incubators
— Workspace costs start from €111 per person/month and reach as much as €600, depending on the venue
City support for start-ups and SMEs
Entrepreneurship competitions
Legal service support
— Almost every week, workshops on all aspects of setting up a business and administrating it take place in Nicosia and around the island – Center for entrepreneurship, Deloitte Innovation & Entrepreneurship Centre, Founder Institute Cyprus Chapter
Financial support and access to investors & accelerators
Standard corporate tax (One of the lowest in the EU)
R&D project grants
— Technology companies producing Intellectual property can apply for an 80% tax exemption — Innovative small businesses can apply for grants of up to €2.5 million for R&D projects through the EU Horizon 2020 program