News Release on Behalf of The Hellenic Initiative
PROMISING RESEARCH IN CYPRUS BOOSTED BY THE HELLENIC
INITIATIVE’S $120.000 DONATION
Athens, 16 May 2019
Innovative research at universities and research centers in Cyprus that
have promising commercial applications will benefit from a $120,000
donation made by The Hellenic Initiative (THI) to the Cyprus Seeds
funding program.
THI’s grant supports Cyprus Seeds’ efforts to help these research
projects mature to a stage that can attract venture capital and funding.
THI’s help will not be limited to the donation of $120.000, as the
organization will also be actively participating in the program by offering
mentorship and networking services.
Cyprus Seeds is the first initiative in Cyprus to be supported by THI,
which seeks to fund research in Cyprus in any area and field provided it
has the potential to be commercialized. The funds and services to be
offered will aim to reduce uncertainty so that an external party would
invest in the technology being developed. At the end of the 12-month
funding period, in June 2020, Cyprus Seeds will organize a Demo Day,
where the teams of entrepreneurs to be supported will pitch in front of
investors, business angels, and venture capital funds in order to attract
private funding for their business ventures.
Cyprus Seeds is a nonprofit organization set up in July 2018 to support
the commercialization of academic research in Cyprus through the
provision of pre-seed funding (in the form of grants), mentoring,
business skills education, and networking with potential investors in the
USA. Cyprus Seeds is also actively supported, with mentoring and
networking services, by a number of Greek-American entrepreneurs and
the Cypriot Diaspora in the USA.
Cyprus Seeds recently announced a Competition Call for all the
Universities and research centers in Cyprus, and it has already received
many applications.
Jeremy Downward, THI’s Board Member stated: “Universities and
research organizations have a vital role to play in the Cypriot economy
and Cyprus Seeds is engaging with them, as well as with the broader
business community, to help commercialize the island’s best and most
innovative research, through grants, training and networking.”
Michael Printzos, THI’s Program Director stated: “Our support towards
Cyprus Seeds marks a very special moment in THI’s history. For the first
time in the course of our work we are supporting an organization in
Cyprus and we are pleased that this is happening with a great initiative
like Cyprus Seeds. We firmly believe that assisting projects which focus
on research boosts youth entrepreneurship and innovation.”
Maria Georgiadou, Cyprus Seeds’ Managing Director stated: “We are
grateful to The Hellenic Initiative for its support to our Program. Cyprus
Seeds aspires to be an important step in creating a sustainable
ecosystem around the universities and research institutions and it’s vital
for us to have strong partners with whom we share the same vision.”
About the Hellenic Initiative
Our Mission: Investing in the future of Greece through direct
philanthropy and economic revitalization.
We empower people to provide crisis relief, encourage entrepreneurs,
and create jobs.
We are The Hellenic Initiative (THI) – a global movement of the Greek
Diaspora.
Visit our website: http://www.TheHellenicInitiative.org/
Like us on Facebook: http://www.facebook.com/thehellenicinitiative
Follow us on Twitter: #OneGreece
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