Local
articles | 24 February 2014

Cyprus' capital Nicosia listed as one of eight emerging technological hubs globally

Despite its recent financial crisis, TransferWise blog cites Cyprus as a country showing great potential in intellectual property and technology output.

Today, with the decentralising nature of the Internet, distributed cloud technology and a growing sentiment toward entrepreneurship, the global startup ecosystem has never been so dispersed. What’s the magic formula that helps a city to incubate innovation? Is it the low rent prices, stable infrastructure, education facilities or weather conditions? Perhaps it’s a complex algorithm of all of the above. From the Far East to the Mediterranean, TransferWise found eight cities where technology’s influence is growing by the minute, and the world should start paying close attention.

Cyprus ranked third of the eight emerging tech hubs you should watch. NCR and TSYS have caught on, choosing the Mediterranean island capital of Nicosia for their regional headquarters. With its high per-capita income, favourable tax system, sophisticated infrastructure and low business set-up costs the possibilities are prime in Cyprus. Bitcoin marketers Neo & Bee are opening their first real-life branch in Nicosia, a place where the use of the virtual currency is already creeping into everyday life.

Other areas metioned as emerging technological hubs were Eindhoven in the Netherlands, Pune in India, Dublin in Ireland, Raleigh in North Carolina, Hong Kong and Israel's capital Tel Aviv.

Source: The Next Web

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