The IDEA Innovation Centre, which serves as a startup incubator and entrepreneurship hub, celebrated its tenth anniversary this week.

According to an official announcement, the anniversary marks “a decade of dynamic presence in Cyprus’ innovation and entrepreneurship ecosystem”.

“The milestone was commemorated with a special event in the courtyard of the Bank of Cyprus Cultural Foundation, bringing together a lively mix of energy, creativity and people who share the same vision,” it added.

The evening gathered partners, startup representatives, trainers and friends of the IDEA centre.

Director of IDEA Panayiotis Korinos welcomed those present and stressed the “importance of collaboration between the public and private sectors“, highlighting how IDEA has evolved into a pillar of innovation in Cyprus.

Chairman of the board Charis Pouangare reflected on the achievements of the past decade, saying that IDEA had received more than 1,000 applications, supported over 100 startups and 260 entrepreneurs, and contributed to the creation of more than 120 jobs.

He also mentioned IDEA’s recognition by the European Commission with the European Enterprise Promotion Award in 2019 and the investment of more than €4.5 million into Cyprus’ innovation ecosystem.

“We are grateful to our strategic partners, trainers, mentors and every member of this community for their constant support,” he said.

As part of the evening, IDEA unveiled a new initiative aimed at supporting the mental health of entrepreneurs.

The programme, called Strong Minds, Strong Startups, acknowledges that personal empowerment and mental resilience are decisive factors for the sustainability and growth of businesses.

“IDEA will now invest not only in entrepreneurial knowledge but also in the well-being of the people who put that knowledge into practice,” the announcement mentioned.

Deputy Minister of Innovation Nicodemos Damianou praised IDEA’s contribution to the development of Cyprus’ innovation ecosystem.

He said he was “pleased with the progress of startups that have matured and are forging their own path”, emphasising the tangible results achieved through IDEA’s programmes.

“The evening concluded with a networking session, an exchange of ideas and new connections, symbolising not only the close of a successful decade but also the beginning of a new era for IDEA and entrepreneurial innovation in Cyprus,” the announcement concluded.