Lack of a platform to encourage Cypriot start-ups - Financial Mirror.

We live in an era where countries and organizations are trying to promote innovation in products and services. These include recycling and selling products around the world that are promoted by government agencies and private companies looking to expand their trading activities.

Those who watch YouTube will notice the interesting programs Dragons'\' Den (UK) and US Shark Tank (US), Australia and other countries. Romania recently organized a similar kind of competition for innovative products and services. The organizers facilitated "opening doors" and arranged interviews with interested parties to join a joint venture or even a sales platform to facilitate other international companies that may be'''interested.

In the Romanian competition, about 80 private companies presented their idea for a startup. After the presentation, the applicants had to answer actual questions to explain their ideas in person and evaluate the competitor's personality, experience in the field, business history and need for financing for the idea and business development. The questions are not easy and are asked by "dragons" and the competitors' answers play a serious role in their success or failure.

I watched several presentations about real estate and estate agencies at competitions in the UK that failed tragically (were more theoretical than solid proposals), whereas (unlike the Romanian competition) they could have been rewarded with more than €1''which were selected, and Ask Wire took first place; in addition to the publicity in business, the organizers opened their doors to introductions to the United States (and other countries) for the first three to arrange personal interviews.

Little Cyprus has achieved the recognition of professional success, and I wonder why similar activities cannot be organized by local organizations (e.g., KEVE and OEB Chambers of Commerce, Central Bank).

Well done Cyprus/Ask Wire, they are becoming a benchmark for the rest of us who may want to go down this competitive path. It is a fact that the Cyprus government and various other organizations''organize awards for different companies based on their profitability and are particularly export-oriented, excluding innovative firms and start-ups, the winners are usually always the same companies.

Note that of the panel of well-known international entrepreneurs, Dragons'\' Den (UK), two are of Cypriot origin: T. Suleyman, a Turkish Cypriot, and Theo Paphitis, a Greek Cypriot. If a company wishes to choose this route, do not necessarily expect our compatriots to choose you. Remember that they are first and foremost businessmen who are profit-seeking.

Antonis Loizou FRICS - Antonis Loizou & Associates, LLC - real estate appraisers, real estate consultants and real estate agents