Vote of Confidence to Cyprus by the Israeli i-BrainTech company
The company’s cutting-edge solutions will be made available to elite young athletes in the region, empowering them to elevate their cognitive abilities and physical performance. Already trusted by top professional athletes in leagues such as the Premier League and MLS, i-BrainTech’s technology is leading the change in the world of cognitive training.
Invest Cyprus welcomes the selection of Cyprus by the Israeli company specializing in athlete cognitive training as an ideal destination for business implementation and expansion.
i-BrainTech’s decision is another indication that Cyprus is becoming a preferred destination for tech firms in the European Union, according to Deputy Director General, Marios Tannousis. “This is due to the country’s targeted incentives, its low cost of living, and its commitment to developing and fostering an innovative tech ecosystem. Additionally, the country offers a business-friendly environment, with a skilled and educated workforce, and a strategic geographic location”.
Discussing the move, Konstantin Sonkin, the CEO of i-BrainTech, said: “With our expansion to Cyprus, we are poised to make a lasting impact on the development of the next generation of athletes in the region through applying state-of-the-art brain training technology to the sports arena. Cyprus is an ideal destination for our efforts, with unmatched procedures, business-friendly environment, and professionalism. Invest Cyprus has been a valuable partner, facilitating smooth and efficient completion of necessary procedures”.
Invest Cyprus, as the national authority responsible for attracting foreign investment and providing certainty to foreign companies operating in Cyprus, remains dedicated to this mission. The number of foreign companies that relocated to Cyprus during 2022 increased by more than 50% on an annual basis, while the total number of jobs created increased by almost 80%. The total impact on the economy was estimated to be 3 billion euros.
Geographically located at the crossroads between Europe, Asia and Africa, Cyprus offers a highly skilled, multilingual workforce, an advantageous legal framework, and a business-friendly environment for international investors and companies.