Cyprus is setting an exemplary standard in the world of startups, with its technology sector emerging as the second biggest contributor to the country’s GDP after tourism. At a recent conference in Athens, John Georgoulas from ECOMMBX praised Cyprus for its innovative spirit and forward-thinking approach.
Georgoulas emphasized the importance of technology in shaping the future and highlighted the role of transparency and change in our daily lives. He pointed out that the technology sector in Cyprus accounts for 13% of the country’s GDP, attracting numerous fintech companies and talents from around the world.
Despite the success, Georgoulas also addressed the challenges faced by startups in Europe, such as lack of capital market integration and excessive regulations. He suggested that over-regulation could hinder business growth and drive startups towards the US market.