High Tech Seminar in USA
The Ministry of Commerce, Industry and Tourism of Cyprus, the Cyprus Embassy Trade Center, and the Cyprus Scientists Network (CSN) organised a seminar on:
THE NEW INDUSTRIAL POLICY OF CYPRUS FOR THE DEVELOPMENT OF HIGH TECHNOLOGY INDUSTRIES IN CYPRUS

The seminar was held at the Wiesner Building, MIT Media Lab, 20 Ames Street, Cambridge, Massachusetts on Tuesday 29 February, 2000.
 
Organizers
Ministry of Commerce, Industry and Tourism of Cyprus
Planning Bureau
Cyprus Chamber of Commerce and Industry
Cyprus Industrialists and Employers Federation
University of Cyprus
Cyprus Institute of Technology
Cyprus Foundation for the Promotion of Research
Cyprus Trade Center in New York
Cyprus Scientists Network (CSN), KyprosNet and Open Ratings, Inc.

Objectives
The main objectives of the seminar were:
•	to provide information and exchange views with interested groups in the United States (scientists, researchers, entrepreneurs and financial institutions) about the content of the new Industrial Policy of Cyprus concerning the development of high technology industry through the establishment of business incubators and a Center for Research and Technological Development.
•	to discuss possible forms of co-operation and involvement of Cypriot expatriates in the United States in the efforts of the Ministry of Commerce, Industry and Tourism of Cyprus to promote new high technology industries in Cyprus.

Background information
The Government of the Republic of Cyprus has recently adopted a New Industrial Policy which consists of twelve chapters.  The first two chapters refer to the promotion of high technology industries in Cyprus through the establishment of an incubator and the creation of a Center for carrying out applied research and development in high technology fields.
The concept of the incubator for high technology companies is based on the realization that researchers or inventors may be very good in their field, but do not necessarily possess the necessary entrepreneurial skills and experience to make good businessmen. In addition, the initial stages of creating an enterprise in the high-tech field involve many risks, which act as a deterrent for external investors. As a result, many excellent ideas are left unexploited. Incubators aim at helping new inventors or researchers in the early stages in order to develop and market their innovative ideas and create new productive enterprises based on them.
The government of Cyprus will promote the creation of an incubator and will provide part financing for projects aiming at the development of new high technology products which will be approved to enter the incubator, up to a period of two years.  Applications for such projects may involve the participation of non-Cypriot inventors or scientists.

The members of CSN and Cypriot expatriates in the United States in particular, are invited to participate in the seminar and support the efforts of the Government of Cyprus to promote high technology industries in Cyprus. Their knowledge and experience is considered an essential factor for the success of this undertaking.

The seminar was addressed to:	Scientists, researchers, entrepreneurs and financial institutions in the United States
Language:  The seminar was conducted in the English language
Location: The Wiesner Building, 20 Ames Street, MIT Media Lab, Cambridge, Massachusetts
Programme:  Attached herewith
Contact persons:
Olympia Stylianou (Mrs)
Director of commerce and Industry
Ministry of Commerce, Industry and Tourism
CY-1421Nicosia Cyprus
Fax. No. + 357 2 375 120
E-mail: mcindust@cytanet.com.cy	Dr. Evangelos C. Eleftheriou
Dept. of Materials & Mech Eng
University of Alabama
Birmingham 254-BEC
1150 Tenth Avenue South Birmingham AL 35294-4461
Fax. No.: + 1 (205) 934 8485
E-mail: eelefthe@eng.uab.edu

Information:  For more information please contact:
Spyros Zavros or Pantelis Panteli
Tel.: +357 2 867243 or + 357 2 867 240
Ministry of Commerce, Industry and Tourism
CY-1421Nicosia Cyprus
Fax. No. + 357 2 375 120
E-mail: mcindust@cytanet.com.cy	Dr. Andreas Alexandrou, Chairman, CSN
Tel. No.: (508) 831-5147
E-mail: andalexa@wpi.edu
or
Dr. Evangelos Eleftheriou, Secretary, CSN
Tel. No.: (205) 934-8463
E-mail: eelefthe@eng.uab.edu

THE NEW INDUSTRIAL POLICY OF CYPRUS FOR THE 
DEVELOPMENT OF HIGH TECHNOLOGY INDUSTRIES IN CYPRUS

Venue: Wiesner Building, 20 Ames Street, MIT Media Lab, Cambridge, Massachusetts
29 February, 2000
P R E L I M I N A R Y   P R O G R A M M E	
13.30 – 14.00	Arrival and Registration of participants.	
14.00 – 14.15	Address by the Minister of Commerce, Industry and Tourism of the Republic of Cyprus Mr. Nicos Rolandis.	
14.15 – 14.45	Address by CSN Chairman, Dr. Andreas Alexandrou.	
14.45 – 15.30	Mrs. Olympia Stylianou  – Director of Commerce and Industry, Ministry of Commerce, Industry and Tourism, Cyprus
"The New Industrial Policy of the Republic of Cyprus for the development of  High Technology Industry in Cyprus".	
15.30 – 16.00	Dr. Evangelos C. Eleftheriou - CSN Secretary
"The mission statement of the CSN, its membership, the distribution of the membership word-wide, and the Involvement of Cypriot expatriates in the effort of the Government of Cyprus to promote new high tech industries in Cyprus".	
16.00 – 16.30	Coffee Break	
16.30-17.30	Panel Discussion – Summary & Conclusions
The discussion will focus on the possible forms of involvement of Cypriot expatriates in USA in the development of "High Tech Industry" in Cyprus, such as:

1.	Assistance in the evaluation of applications for projects to enter the incubator
2.	Developing ideas for new high tech products etc. in incubators in Cyprus
3.	Sponsoring of incubator companies through participation in their share capital etc
4.	Promotional support of high technology products in the world market.
5.	Advice on legal and financial issues involved in the creation and operation of business incubators.
6.	The terms and conditions of participation of Cypriot expatriates scientists in the Cyprus incubator.	

19.30 - 	D i n n e r