cyprus innovation — Zubr Capital is making strides to reshape the innovation ecosystem in Cyprus, with a focus on engaging youth through initiatives like the “Zubr Capital Young” hackathon.
- cyprus innovation — Zubr Capital is making strides to reshape the innovation ecosystem in Cyprus, with a focus on engaging youth through initiatives like the "Zubr Capital Young" hackathon.
Cyprus innovation: Building an Ecosystem for Young Innovators
During a recent event, Zubr Capital brought together students and startups to address real-world business challenges. Oleg Khusaenov, the founder and CEO of Zubr Capital, emphasised that their efforts with young talent are part of a broader strategy to foster an entrepreneurial culture.
Hackathons: A Launchpad for Future Leaders
Khusaenov described the hackathon as a unique opportunity that condenses months of startup experience into a single day. “It encourages collaboration and teamwork,” he said, highlighting the benefits of such a format for students eager to learn about the business world. Participants learn to build teams, identify strengths, and grasp the business process, all while developing key skills that are often absent from traditional university curricula.
Bridging the Gap Between Education and Industry
With over 25 years of experience working with students, Khusaenov noted the importance of practical skills in the education system. He believes that while academic knowledge provides a solid foundation, it rarely equips students for the realities of the business environment. Zubr Capital’s League of Analysts programme aims to fill this gap by offering hands-on experience in real business cases, preparing graduates for successful careers as investment analysts.
Identifying the Right Startups for Investment
When it comes to investment, Zubr Capital focuses on established companies rather than early-stage startups. Khusaenov explained that they look for businesses with potential for exponential growth through innovation. The team behind a startup is a critical factor, as passion and dedication often indicate long-term success. “When you see their passion, that’s when you realise you’re dealing with true entrepreneurs,” he stated.
Encouraging Entrepreneurship in Cyprus
Khusaenov expressed his admiration for entrepreneurship, viewing it as a vital force for progress and creativity. He encourages young people to pursue their entrepreneurial ambitions, reminding them that failures can serve as valuable learning experiences. “Every mistake becomes a lesson that makes you stronger,” he advised, promoting the idea that even failed ventures can provide essential skills and insights.
Cyprus: A Hidden Gem for Innovation
Describing Cyprus as unique, Khusaenov pointed to the welcoming atmosphere fostered by the government and locals to attract talent. He acknowledged that while the island has made great strides, it still faces challenges in reshaping its image from an offshore zone to a burgeoning tech hub. Effective storytelling about Cyprus’s opportunities is crucial for its growth, and Khusaenov noted ongoing efforts to increase the share of IT companies in the country’s GDP.
