Digital Entrepreneurship Cyprus


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Digital Entrepreneurship in Cyprus. Moving ahead with the digital agenda in Europe.

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Digital Entrepreneurship Cyprus

  1. 1. Cyprus IT Enterprises Association Andreas Hadjioannou Member of the Board of Directors
  2. 2.  Cyprus Information Technology Enterprises Association Under of the auspices of the Cyprus Enterprises and Instustrialists Federation (OEB) Established 1987 Mission: ◦ To play a determining role in the balanced growth of information technology in the Cyprus economy acting as a vehicle of change for the development of the information society 65 Members (Almost 100% of ICT companies over 4 employees) Going Local II – Cyprus 25-Nov-2011
  3. 3.  We define Digital Entrepreneurship as the exploitation and use of Information and Communication Technologies by Enterprises in novel ways to create commercial opportunities, disseminate information, and collaborate with clients and partners Digital Entrepreneurship is changing the way we do business, collaborate and perform transactions and manage our business It provides the means by which Enterprises can take advantage of the Digital Strategy transforming our organizations and in general economy into a knowledge based economy Significant Return on Investment (ROI) and impact on productivity, growth competiveness and the work environment, in our business, society and our economy. Going Local II – Cyprus 25-Nov-2011
  4. 4. Going Local II – Cyprus 25-Nov-2011
  5. 5. Going Local II – Cyprus 25-Nov-2011
  6. 6. Nov 2011 Going Local II – Cyprus 25-Nov-2011
  7. 7.  Local Issues ◦ Economic Crisis ◦ Post-July 11 created situation ◦ Energy hype and potential repercussions (Good and Bad) ◦ The Cyprus problem Globalization ◦ Demands of EU Legislative and regulatory framework ◦ International competition at our door steps ◦ Lower profitability ◦ High running costs Our Society ◦ Large number of small companies ◦ Heavy competition from large companies ◦ Knowledgeable customers ◦ Increase of Demand for high quality services Going Local II – Cyprus 25-Nov-2011
  8. 8.  Cyprus falls considerably behind the rest of Europe in the Information and Communications Technologies sector Lack of Digital Strategy or any action plan that will in a satisfactory degree accommodate benefits of digital economy Investment in ICT Research and Development has been minimal It is evident that Government and semi-Government institutions and departments that have the role of managing the Information Society of this country do not have the flexibility or the level of productivity and efficiency they need in order to implement the change this country requires We need to implement the proposed strategy and increase the pace by which we are implementing things Going Local II – Cyprus 25-Nov-2011
  9. 9. Company size Number % 1 – 9 (Micro) 56,048 93.7 10 – 19 (Small) 3,139 5.250 – 249 (Medium) 529 0.9 > 249 (Large) 79 0.1 TOTAL 59,795 Includes Ltd, Partnerships, associations , coops, Individual companies Going Local II – Cyprus 25-Nov-2011
  10. 10. Nov 2011 Going Local II – Cyprus 25-Nov-2011
  11. 11. Nov 2011 Going Local II – Cyprus 25-Nov-2011
  12. 12. Nov 2011 Going Local II – Cyprus 25-Nov-2011
  13. 13. Nov 2011
  14. 14. Nov 2011
  15. 15. Nov 2011 Going Local II – Cyprus 25-Nov-2011
  16. 16. Nov 2011 Going Local II – Cyprus 25-Nov-2011
  17. 17. 2010 Nov 2011 Going Local II – Cyprus 25-Nov-2011
  18. 18. Nov 2011 Going Local II – Cyprus 25-Nov-2011
  19. 19.  Approximately 65 companies Share of the ICT sector in Cyprus is small as a percentage of employment: approximately 2% compared to a EU average of closer to 6% A number of global name brands With a few exceptions, a fragmented group of SMEs that supply locally and do not have the capability to grow and develop. Very little R&D is undertaken and there is little innovation Going Local II – Cyprus 25-Nov-2011
  20. 20.  Total market 2010 approx. € 150M Broken down by ◦ Infrastructure 55% ◦ Applications and Services 35% ◦ Tools 10% Going Local II – Cyprus 25-Nov-2011
  21. 21.  Proposed Digital Strategy includes measures required to level with the EU Digital Agenda It is broad, flexible and covers Public and Private sector There is a lot to do and requires collaboration by all stakeholders to make it succeed In doing so, the rest of the countries will have moved forward keeping the digital gap with Cyprus but at a smaller size Requires prioritization and a feasible action plan Requires political commitment and investment Going Local II – Cyprus 25-Nov-2011
  22. 22.  Framework by which we can achieve compliance to EU Digital Agenda and also set the foundations for an action plan towards Digital Entrepreneurship We are so behind that any action we implement will have an immediate impact High number of university educated workforce (over 70% from countries abroad) Though late enough, it will help towards a Digital Recovery Going Local II – Cyprus 25-Nov-2011
  23. 23.  Large number of small companies Too good in Strategy formulation BUT very bad implementers We have the most expensive and slowest Internet Lack of political commitment Lack of vision for ICT Delays in the finalization and implementation of the Digital Strategy Heavy bureaucracy Going Local II – Cyprus 25-Nov-2011
  24. 24.  Lack of culture and incentives towards innovation and investment for ICT companies for Enterprises Measures and plans towards research on ICT and innovation are focused on long term academic research than industry related research There are considerable delays in introducing government ICT projects (new and upgrades) Delays and heavy costs in procurement Difficult to participate in Government projects Lack of Private Public Partnership Going Local II – Cyprus 25-Nov-2011
  25. 25.  Promote Cyprus as a center of services using ICT Small country, ideal for Pilot ICT projects Utilize skills from young people, currently unemployed Build datacenters to host cloud applications Ideal for Business Continuity and Disaster Recovery Services Green ICT Research and Development ICT can become a major pillar for the Government towards converting Cyprus in a regional center for high quality services Going Local II – Cyprus 25-Nov-2011
  26. 26.  Globalization Presence of dynamic regional competitors Other countries around us are exploiting our opportunities Going Local II – Cyprus 25-Nov-2011
  27. 27.  Incentives towards ICT with emphasis on improving productivity and minimizing costs ICT innovation in Enterprises Measures towards allowing ICT companies to penetrate other markets Measures towards cooperation between the Industry and Universities or Research and Development Focus on short term R&D involving ICT companies Promotion of collaboration with international Organizations on Research transfer of technology Measures towards research and development of new products and services Public Private Partnership Going Local II – Cyprus 25-Nov-2011
  28. 28.  Cloud Computing ◦ Software as Service (SaaS) ◦ Platform as Service (PaaS) ◦ Infrastructure as a Service (IaaS) Collaboration Next generation Business Intelligence and data analytical tools Mobility Social Media Business Process Management (BPM) Green ICT Going Local II – Cyprus 25-Nov-2011
  29. 29. Competiveness Innovation Collaboration Investment Costs Reduction E- Skills Knowledge Workers Productivity ECONOMY RECOVERY Going Local II – Cyprus 25-Nov-2011
  30. 30. Going Local II – Cyprus 25-Nov-2011