From banking to entrepreneurship and scientific innovation, Maria Markidou Georgiadou is helping transform promising ideas into opportunities that could shape the future of Cyprus.
Behind every successful innovation lies more than a brilliant idea. It takes vision, perseverance, collaboration and, perhaps most importantly, people who believe in the potential of others. Georgiadou, Founder and Managing Director of Cyprus Seeds, has dedicated the past decade to creating opportunities for talented entrepreneurs and researchers to turn their ideas into reality.
With more than 25 years of experience in banking and business development, Maria made a significant career transition, moving from the financial sector into the exciting and challenging world of innovation. Her journey led her to establish IDEA, Cyprus’s first integrated startup accelerator and incubator, before taking on another ambitious initiative with Cyprus Seeds.
Through Cyprus Seeds, she is helping bridge the gap between academic research and commercial success, providing scientists and researchers with the support, expertise and connections needed to bring their discoveries closer to the marketplace.
Her story is one of curiosity, courage and a genuine commitment to making a difference. In this interview, Maria shares the inspiration behind her journey, the challenges of building something new and her hopes for Cyprus as an emerging innovation hub.
1. The Woman Behind the Vision
You have enjoyed an impressive career in banking, business development and entrepreneurship. What inspired you to move into the world of innovation and research commercialisation, and was there a particular moment when you realised this was the direction you wanted to pursue?
I spent more than 25 years in banking in Cyprus and abroad, but the last 10 years have been dedicated to supporting innovation and the commercialisation of scientific research. My inspiration to move into the world of innovation came from my involvement as an evaluator in EU grant programmes supporting innovation, but also from my desire to support talented young people in Cyprus.
In 2013, I chose to end my career as a banker and left the Cyprus Development Bank (CDB Bank) without having any alternative career in mind. My curiosity about innovation was my incentive to travel through Israel, Greece, Malta and the USA to see what type of support was being offered to young people who wanted to pursue the entrepreneurial path.
Less than six months after I left CDB Bank, I found myself working for the Bank of Cyprus, not as a banker but as a consultant on how to grow a newly established unit supporting the creation of innovative startups.
The visionary management of the Bank of Cyprus supported my recommendations to set up IDEA, the very first accelerator and incubator in Cyprus to support young people with innovative business ideas.
My inspiration for the design of IDEA – Innovate, Develop, Excel, Accomplish – was EGG (Enter, Grow, Go), an established accelerator for startups in Greece, supported by Eurobank Greece. It was when I visited EGG in Athens that I said, “If a Greek bank can do it, so can a Cypriot bank.”
It was my involvement in the design and launch of the first accelerator for innovative startups in Cyprus that made me realise this was the direction I wanted to pursue for the next 10 years. Every day was different. Every day was rewarding. I felt that I was giving birth to a baby and was very devoted to helping that baby grow in every way possible.
2. Planting the Seeds of Innovation
Cyprus has talented researchers and scientists, yet transforming a groundbreaking discovery into a successful business is not always straightforward. What inspired you to establish Cyprus Seeds, and how does the organisation help bridge the gap between academic research and the commercial world?
My inspiration for introducing Cyprus Seeds to Cyprus was a similar programme at the MIT Deshpande Center for Technological Innovation, which has been running with great success for almost 20 years.
The recipe of the MIT programme, which has led to a very large number of projects successfully commercialising research from the lab, is the combination of non-equity grants, mentoring, training and networking with potential investors.
Our programme offers the same package to a small number of research teams, selected following a very rigorous process that includes a written application and an interview with the team behind the project. Our evaluators are experienced international experts with knowledge of commercialising academic research.
3. Challenges, Courage and Determination
Building something new often means challenging established ways of thinking. What have been the greatest obstacles you have encountered in developing Cyprus Seeds, and what have those experiences taught you about leadership, perseverance and believing in a vision?
Cyprus Seeds was unique when it was launched seven years ago, and it remains unique even today. In many ways, it feels like a startup. It is like being on a roller coaster. To pull it through, a founder needs to be agile, passionate, persevering and hardworking.
Building the right team is also critical. In fact, in my opinion, the team is the most important factor in a successful venture.
Being a visionary is a must. The founding donor of Cyprus Seeds, Mr. George David, from the Leventis and David Families, was the visionary when, 10 years ago, he asked to have a Cyprus Seeds.
As for myself, I never stop thinking about the next steps and what might have the greatest impact.
4. The Future of Cyprus as an Innovation Hub
Cyprus is increasingly positioning itself as a destination for technology, entrepreneurship and international investment. What do you believe needs to happen for the country to become a truly competitive innovation hub, and what role can collaboration between universities, businesses, investors and government play in achieving this?
For Cyprus to become an innovation hub, it needs a collective effort. We are a very small country and one that started building its innovation ecosystem only recently.
We need to be patient and be very aware that building an innovation hub is a long-term deliverable.
5. Legacy, Purpose and Personal Fulfilment
Looking beyond professional recognition and measurable achievements, what gives you the greatest personal satisfaction in your work? When you think about the future, what impact would you most like Cyprus Seeds to have, and what legacy would you personally like to leave for the next generation of innovators?
I love the question! Thank you for asking.
My greatest satisfaction is seeing what I build grow and contribute to economic growth and social impact.
I am very happy that IDEA is still alive and contributing, and I am extremely happy that Cyprus Seeds is not only alive but also has huge potential to bring solutions to world problems to the market.
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