IDEA

Deloitte has recently agreed to participate in IDEA – a pioneering initiative by the Bank of Cyprus (BOC) and the Cyprus International Institute of Management (CIIM).

The IDEA (Innovate Develop Excel Accomplish) Programme is an integrated acceleration-incubation Programme, founded by BOC and CIIM, aiming to develop and support innovative entrepreneurship and to create employment opportunities for people in Cyprus, ultimately boosting the competitiveness of the Cyprus economy at an international level. IDEA programme has four strategic partners:

• Deloitte Limited
• MTN Cyprus Ltd
• Innovation / Leo Burnett and
• Lellos P. Demetriades Law Office LLC

IDEA will host teams of entrepreneurs (of 2-5 people) that will be chosen through a call for business concepts that will be announced twice per year and an evaluation / selection process, which will follow. The selected teams will be hosted in fully equipped office premises belonging to BOC in Nicosia and Limassol and will receive support services in various aspects of business creation and implementation specifically designed for start-ups and spin-offs. Up to ten new business teams will be hosted simultaneously at each IDEA location, for a period of up to 12 months each (3 months of acceleration and 9 months of incubation). As of September this year, the selected teams will be hosted at the IDEA premises in Nicosia (the newly renovated BOC Faneromeni building’s floors 1-3), but it is expected that early next year, the Limassol IDEA premises will be ready to host new teams as well (location TBA).

During Deloitte's involvement in the Programme, our professionals will provide mentoring to the teams of entrepreneurs in areas that lie within the Firm’s domain of expertise (FAS, VAT, Tax, Accounting & Reporting etc). Deloitte will also contribute to the management of the Programme through participation in the Steering Committee and the Operations Sub-Committee.

To learn more about the IDEA Programme visit the official website.