Non-profit technology association TechIsland on Friday announced the signing of a memorandum of understanding with the Cyprus International Businesses Association (CIBA), aimed at strengthening collaboration across Cyprus’ technology and international business sectors.

The organisation said that the partnership is based on a shared commitment to collaboration as a driver of growth for the Cypriot economy and innovation ecosystem.

CIBA is an independent cross-sector organisation that has spent more than three decades representing and advocating for the interests of international businesses operating in Cyprus, the announcement mentioned.

It added that CIBA’s extensive experience and broad international business network make it an ideal partner for TechIsland’s mission of promoting Cyprus as a global technology destination.

TechIsland further explained that it represents a broad technology ecosystem, ranging from startups and SMEs to large multinational companies, encompassing both local and international firms operating in Cyprus.

The organisation said that all members are working towards the common objective of positioning Cyprus as a global destination for technology, innovation and investment.

“We are happy to announce the signing of a Memorandum of Understanding between TechIsland and the Cyprus International Businesses Association, a partnership rooted in a shared belief that collaboration is the engine of growth,” the organisation said.

TechIsland explained that the partnership will focus on the exchange of knowledge and insights between the technology sector and the wider international business community.

The cooperation will also include joint industry reports, surveys and advocacy initiatives designed to support the continued development of Cyprus’ business and innovation landscape.

In addition, the two organisations plan to work together on events, roundtables and business delegations aimed at promoting Cyprus internationally and encouraging new opportunities for investment and cooperation.

The memorandum also envisages coordinated efforts on regulatory and policy matters affecting the broader ecosystem.

TechIsland further stated that the partnership seeks to strengthen Cyprus’ attractiveness as a destination for investment, talent and innovation.

“We look forward to a productive collaboration and the positive impact it can bring to the Cypriot business and tech ecosystem,” the organisation concluded.