Digital Entrepreneurship Cyprus
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Transcript of Digital Entrepreneurship Cyprus
Digital EntrepreneurshipThe current situation in Cyprus
Cyprus IT Enterprises AssociationAndreas Hadjioannou
Member of the Board of Directors
Going Local II – Cyprus 25-Nov-2011
About CITEA 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
Digital Entrepreneurship 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
Going Local II – Cyprus 25-Nov-2011
Going Local II – Cyprus 25-Nov-2011
Nov 2011
Going Local II – Cyprus 25-Nov-2011
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
Challenges faced by Enterprises in Cyprus
Going Local II – Cyprus 25-Nov-2011
Findings of the “Recovery is Digital” conferenceMarch 2011
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
Enterprises in CyprusCompany size Number %
1 – 9 (Micro) 56,048 93.7
10 – 19 (Small) 3,139 5.2
50 – 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
Nov 2011
Going Local II – Cyprus 25-Nov-2011
Nov 2011
Going Local II – Cyprus 25-Nov-2011
Nov 2011
Nov 2011
Nov 2011
Going Local II – Cyprus 25-Nov-2011
Nov 2011
Going Local II – Cyprus 25-Nov-2011
Nov 2011
Going Local II – Cyprus 25-Nov-2011
2010 Nov 2011
Going Local II – Cyprus 25-Nov-2011
Nov 2011
Going Local II – Cyprus 25-Nov-2011
ICT Companies in Cyprus 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
Estimated market size Total market 2010 approx. € 150M Broken down by
◦ Infrastructure 55%◦ Applications and Services 35%◦ Tools 10%
Going Local II – Cyprus 25-Nov-2011
How we see the Digital Strategy of Cyprus
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
Strengths
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
Weaknesses as a country
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
Weaknesses as Enterprises 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
Opportunities 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
Threats Globalization Presence of dynamic regional competitors Other countries around us are exploiting our
opportunities
Going Local II – Cyprus 25-Nov-2011
Suggested Measures – Enterprises and ICT 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
Major ICT trendsas defined by Gartner and Forrester Research
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
Domino Effect
ICT Measures
CompetivenessInnovation
CollaborationInvestment
Costs ReductionE- Skills
Knowledge WorkersProductivity
ECONOMYRECOVERY
Going Local II – Cyprus 25-Nov-2011
Don’t ignore the new generation
Thank you for your attention