The partnership was ratified through the signing of a memorandum of understanding, with the signing ceremony taking place at the university’s senate building in Limassol.

The memorandum of understanding entails collaborations in the field of information technology, including the design and development of software for business applications.

It also seeks to facilitate the launch of a number of initiatives across several sectors, including culture, education and business.

The memorandum was signed by Tepak rector Panayiotis Zafiris and SoftOne CEO Panos Martinis.

“The memorandum, signed between the two parties, provides for the holding of cultural, scientific and educational events and activities, as well as the exchange of useful consulting and scientific services, as well as know-how in topics and fields of common interest,” a statement by the two organisations said.

“At the same time, the two organisations agreed to their joint participation in research and development programmes of both Tepak and SoftOne respectively,” they added.

SoftOne specialises in the development of business software in a number of business areas, including enterprise resource planning, customer relationship management and cloud-based services.

Although founded and headquartered in Athens, the company also has operations in Cyprus, through its aforementioned subsidiary, Romania and Bulgaria, with more than 170 full-time employees in total.

“This partnership strengthens the university’s efforts to further interconnect and link the academic community with industry and the business world,” Zafiris said during the signing ceremony.

Andreas Andreou, an IT professor at the university, said that “we want to transfer academic excellence to the business market”.

“We welcome this partnership with a company that also has a presence in Cyprus, helping us to bridge the gap between academia and business,” he added.

What is more, Andreou said that the partnership will enable the university to boost the employment prospects of its graduates.

SoftOne CEO Panos Martinis explained that forming a connection with universities and the broader sector of academia is crucial because innovation is rooted in research.

“We are always innovative, not just in Cyprus and Greece, but elsewhere in Europe,” Martinis said.

“We are always in search of a connection with the academic community and we are always looking to base our desire to be innovative on their research efforts,” he added.

Another SoftOne representative present at the ceremony said that the signing made them “especially happy because it is the culmination of many years of working together and the memorandum brings a structure to the relationship in a way that will be mutually beneficial to both parties”.

He added that the academic community “facilitates research and innovation but always after being informed by business and the market, because this allows researchers to know what the market demands and needs”.

Finally, SoftOne praised the university for producing “exceptional graduates that are highly sought after”.

Source: Cyprus Mail