Cyprus promoted as gateway to Europe for DCO startups

Nicosia, Cyprus. Cyprus is being positioned as a potential gateway to the European market for businesses from Digital Cooperation Organisation member states, ahead of a virtual masterclass on expansion for startups.

The Digital Cooperation Organisation and 28DIGITAL will hold the online session on September 30, focusing on opportunities, requirements and practical routes for entering and scaling in the European market.

Online masterclass

The session will take place from 4pm to 5pm Cyprus time and is aimed at startups from DCO member states.

It will examine European market opportunities, routes to market entry, business ecosystems and lessons from companies that have already expanded into Europe.

Cyprus is a DCO member state, alongside countries including Bahrain, Greece, Kuwait, Qatar, Saudi Arabia and Oman.

Cyprus’ role

The initiative comes as Cyprus seeks to strengthen its role as a bridge between businesses in the Gulf and other regions and the wider EU market, drawing on its EU membership and longstanding commercial links with the region.

Cyprus Chamber of Commerce and Industry (Keve) president Stavros Stavrou has previously said Cyprus could serve as a hub for companies from the Gulf Cooperation Council seeking to expand into Europe.

“What we believe we can do is to serve as a hub. Cyprus can serve as a hub of the GCC, of Bahrain, of the other countries in GCC, as a hub towards expansion in Europe,” Stavrou said.

He said Cyprus’ EU membership and longstanding relationships with countries in the region could help facilitate trade, investment and business expansion into the European market.

“Europe is a united market, and Cyprus, as one of the member states of the EU and as one with perhaps the most long-standing relationship with this area here, can serve and facilitate this expansion of trade, of business, of investments of GCC companies into Europe,” Stavrou said.

“We have the expertise to do that,” he added.