India Shines Bright at Reflect Festival 2024, Cyprus: A Hub of Innovation Takes Center Stage

Limassol, Republic of Cyprus [30-31 May 2024] – The Indian startup companies participated for second time in Reflect Festival 2024 after their first participation in 2023, solidifying its position as a global leader in innovation. This year's participation showcased a thriving collaboration between India and the Republic of Cyprus, leaving a lasting impact on over 23,000 attendees.

A Showcase of Indian Brilliance:

• Eight promising startups across energy, environment, education technology, green solutions, adequation technology, old age, and healthcare captivated investors and fellow entrepreneurs. Their diverse range of ideas tackled critical global challenges, demonstrating India's commitment to impactful innovation.

• Mr. Vaibhav Kapoor, Co-founder of prestigious Indian unicorn, Prystin Care (valued over $1.5 billion), further highlighted India's ability to nurture and empower billion-dollar ventures.

• Several investors present at Reflect Festival interacted with Indian startups, creating a platform for potential funding and partnerships.

Strengthening India-Republic of Cyprus Ties:

• The "IndiaReflect" event, graced by high-level dignitaries including Mr. Manish, High Commissioner of India, and H.E. Ms. Irene Piki, Deputy Minister to the President of Republic of Cyprus, highlighted the commitment to strengthening economic and technological partnerships. The High Commissioner envisioned increased participation in Reflect Festival and stronger institutional partnerships for continued collaboration. He also attended the Economic Diplomacy brunch hosted by Cyprus Chamber of Commerce and spoke on the India’s growth story and his vision on India-Cyprus economic engagement He also attended a panel discussion on the theme “Geo-arbitrage” and shared his views on the subject.

• DPIIT Joint Secretary, Mr. Sanjiv, highlighted the vast opportunities presented by Indian startup companies, as also the e-commerce opportunities presented by the Indian Open Network for Digital Commerce (ONDC) protocol.

• The DPIIT startup delegation showcased their offerings at the PWC Experience Center in Nicosia, further strengthening business ties.

Startups & Unicorns Engagement with Cypriot India Business Association (CIBA)

On 1st June 2024, CIBA organised in partnership with High Commission a session for the Indian startup at PwC Cyprus headquarters in Nicosia, where Indian startup and Unicorn interacted with local companies with local companies, investors, bankers. The event was addressed by the High Commissioner, Joint Secreatry (DPIIT), President of CIBA Mr. Chrysilios Pelekanos and CEO & Chairman of PwC Cyprus Mr. Philippos Soseilos. It was a productive session, which resulted in positive outcomes.

India: A Hub of Innovation & Opportunities for Republic of Cyprus

Government initiatives like 'Make in India,' 'Digital India,' and 'Startup India' are transforming India by leveraging AI, renewable energy, and emerging technologies to address global challenges and enhance lives. Republic of Cyprus can leverage their startup and innovation ecosystem to forge beneficial partnership with the robust Indian startup ecosystem. India has the 3rd largest startup ecosystem in the world, with over 40,000 startups and over 110 unicorns.

Key Success Stories:

• Mr. Prabhu of Habytat, a real estate technology startup, showcased his innovation with ambitions to expand into the European Union market, backed by the Startup India Initiative.

• Mr. Vedvyas, Founder of Axil Renewables, a clean tech startup, sought partnerships for his commercial solar panels through Startup India's support.

Be part of India's innovation story!

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