Cyprus and India should build a structured roadmap for cooperation in startups, research and technology, turning growing bilateral interest into measurable partnerships, Indian High Commissioner Manish Manish said. 

In a post on his personal online platform, Manish said he presented his views on the future of India-Cyprus innovation cooperation to members of KPMG Cyprus and Plug and Play Cyprus. 

“What stood out most during the discussion was that the opportunity is no longer theoretical,” Manish said. 

He said India has developed one of the world’s largest startup ecosystems, while Cyprus can provide Indian companies with a platform for access to the European Union, regulatory positioning, financial services and international cooperation. 

“The real question is how we move from interest to implementation,” he added. 

According to Manish, the current state of bilateral relations has created an opportunity for the two countries to establish more structured and lasting links between their innovation ecosystems. 

Among the priorities discussed were institutional partnerships, startup acceleration programmes and support for companies seeking access to each other’s markets. 

The discussion also covered joint research in artificial intelligence, deep technology, semiconductors, climate technology and digital innovation. 

At the same time, closer cooperation between universities, incubators and industry could connect academic research with commercial opportunities, while venture capital and co-investment links could help startups secure financing and expand internationally. 

Manish also proposed a Cyprus-GIFT City dual-hub strategy aimed at connecting Indian innovation with European markets through Cyprus. 

The proposal builds on the developing relationship between the two financial centres. During Indian Prime Minister Narendra Modi’s visit to Cyprus in June 2025, NSE International Exchange in GIFT City and the Cyprus Stock Exchange (CSE) signed an agreement covering cross and dual listings, capital-market cooperation and investment opportunities, according to the High Commission. 

However, Manish warned that the size of India’s startup ecosystem would not, by itself, produce effective cooperation with international partners. 

“India’s startup ecosystem has reached a scale that makes collaboration increasingly relevant for international partners, but scale alone is not enough,” he said.

He added that “what matters is building predictable, institutional, and long-term mechanisms that connect founders, researchers, investors, corporations, and governments.”

His comments come after the state visit of President Nikos Christodoulides to India in May, during which the two countries upgraded their bilateral relationship to a strategic partnership. 

The two governments also signed memoranda covering innovation and technology, as well as higher education and research, providing an official basis for closer cooperation between universities, research institutions and technology organisations. 

Manish said progress had also been supported by the engagement and visits of Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou and Chief Scientist Demetris Skourides, as well as exchanges of business delegations. 

He also referred to the contribution of the Cyprus Chamber of Commerce and Industry (Keve), Invest Cyprus, Cyprus Seeds, the Indian Chamber of Commerce, the Confederation of Indian Industry and the Federation of Indian Chambers of Commerce and Industry. 

Moreover, the existing memorandum between Invest Cyprus and Invest India could be used to support new investment projects and cooperation between companies. The agreement, signed in December 2021, seeks to increase bilateral investment activity and support business cooperation between India and Cyprus. 

With the government agreements on research, innovation and higher education now in place, Manish said the next step should be to “create a structured roadmap with measurable partnerships, regular engagement, and sector-focused collaboration.” 

“I left the session encouraged by the quality of engagement and the shared recognition that innovation diplomacy can become a meaningful pillar of the India-Cyprus relationship,” Manish concluded.