He called on start-ups to believe in themselves and demand from the state what they deserve.

Kokkinos was addressing the opening of the three-day technology festival “Reflect 2021” in Limassol, with the participation of more than 3,000 and 80 speakers from around the world.

The Deputy Minister said Cyprus is business-friendly and already a regional player that could aim higher.

“We need alliances; we need minds and energy to intermix and get higher and greater.

“We see great minds in science and technology with great research output.

“But when it comes to a specific point, where the start-up is not properly funded, supported, encouraged, we see a brain drain towards other continents, especially the USA and now China.

“So, these minds are becoming the fuel of other economies, not of our countries.

“We need to reverse this brain drain and make it a brain game for Europe.

“As policymakers, we need to listen to you, get the messages and get closer and support you.

“In Cyprus, 75-78% of our highest school graduates go for a university degree, they are great minds with great potentials, but they do not cash out this investment of their education into great jobs.”

“By working together, we can boost innovation further, make it scalable and make it impactful to the people to the society and our economy.”

The government says it is committed to fully supporting first thinkers and innovators through early-stage funding and creating the infrastructure to bridge and connect large corporate companies and start-ups.

Source: Financial Mirror