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Aspiring entrepreneurs are being urged to dare with passion, partner wisely, and prepare for hard work and endless challenges.
According to Dorita Yiannikou's article published in Kathimerini Cyprus in Greek, this advice comes from some of Cyprus’ most pioneering entrepreneurs, who have achieved success both locally and internationally through their startups. Promed Bioscience, EMBIO Diagnostics, and Ascanio are three companies that have created innovative solutions within their respective fields by combining technology with strategic business insights.
These companies, driven by extensive research, training, and personal experience, identified gaps in the market and created products and services that successfully attracted investors. Dr. Marianna Prokopi-Dimitriadis, co-founder of Promed Bioscience; Konstantinos Loizou, founder and CEO of EMBIO Diagnostics; and Minas Kyriakou, co-founder and CEO of Ascanio, highlighted the importance of innovation and continuous feedback from customers and partners during the recent Digital Agenda conference.
“There’s no magic recipe for success,” said Dimitriadis, emphasizing that leadership, hard work, and perseverance are key. Passion, resilience, and continuous learning are what will help entrepreneurs overcome challenges and stay innovative, added Loizou.
A major factor in their success is the differentiation of their products and services from competitors. Promed Bioscience, focused on healthcare, combines technological innovation with a human-centered approach. “We aim to bridge the gap between science and the patient,” Dimitriadis explained. Ascanio, which develops mixed-reality software, offers an interactive platform that allows users to enhance their skills in a controlled environment. EMBIO Diagnostics, specializing in indoor air quality solutions, stands out for its focus on accuracy, ease of use, and environmental sustainability.
Securing funding and finding the right partners have been among the main challenges these entrepreneurs faced. Explaining the value of their products to investors often required detailed manuals to clarify how the technologies work.
The role of innovation is critical in maintaining their leadership positions, the founders said. By integrating cutting-edge technology and fostering a culture of experimentation and creativity, these companies encourage their teams to explore new ideas without fear of failure.
"Failures are valuable lessons," the entrepreneurs said, noting that setbacks taught them the importance of flexibility and adaptability, and helped them improve both their products and strategies.
Looking ahead, Promed Bioscience plans to expand into new markets and integrate its products into national health systems to reach more patients. Ascanio aims to make its Nexus platform a global standard for education and training across various industries, including law enforcement, aviation, and physical therapy. EMBIO Diagnostics has set its sights on global expansion, with a focus on sustainability and developing products that will transform everyday life.
These insights were shared by the Cypriot entrepreneurs during the Digital Agenda conference, where they reflected on the challenges and triumphs of building successful businesses in a competitive global market.
