Plan for the success of your Innovation Startup

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Published: Friday, 09 August 2024 17:41

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Introduction
Starting an innovation-driven business can be an exhilarating yet challenging journey. This article provides a guide to understanding, planning, and executing strategies that can maximize the potential and success of your innovation startup.Understanding Innovation Startups

What is an innovation startup?
An innovation startup focuses on developing and introducing new products, services, or processes that are seen as innovative and disruptive in their respective industries. Such startups often leverage new technologies, business models, or approaches to create unique value propositions for their customers. Characterized by creativity, a drive for progress, and a willingness to take risks, innovation startups aim to bring novel ideas to market.

Partner with Us to Plan for the success of your Innovation Startup.
Are you ready to take your innovation startup to the next level? Partner with us to plan for success and maximize your potential. Our comprehensive services are designed to support you at every stage of your startup journey, from inception to market entry.

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What is a Business Plan, Who Needs one and Why, Benefits

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Published: Friday, 19 April 2019 08:46

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You may come across different views regarding the content and length of a Business Plan.

You will also find that there are different views regarding the use of a Business Plan and the benefits it provides.

Our purpose is to provide a thorough explanation of what is a Business Plan and what it involves, how a Business Plan is utilised to maximise potential benefits and what are the Benefits provided.

In the same perspective, it is explained how a Business Plan can take various forms, varying from a brief (Summarising) Abbreviated Business Plan to a detailed Formal Business Plan, depending on the intended use and target audience, as well as parameters that should be considered for choosing the appropriate Business Plan format.

Contact us for support in assessing your Business Planning needs, and for the Preparation and Implementation of the appropriate Business Plan for your enterprise.

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What exactly is GDPR?

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Published: Monday, 10 February 2020 15:55

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Companies that collect data on citizens in European Union (EU) countries need to comply with strict new rules around protecting customer data. The General Data Protection Regulation (GDPR) sets a new standard for consumer rights regarding their data, but companies will be challenged as they put systems and processes in place to maintain compliance.

Compliance will cause some concerns and new expectations of security teams. For example, the GDPR takes a wide view of what constitutes personal identification information. Companies will need the same level of protection for things like an individual’s IP address or cookie data as they do for name, address and Social Security number.

The difference between the "Directive" and the "Regulation" is that the Regulations are binding, enforceable, fine-tuning laws. By decision of the Cypriot Parliament GDPR 679/2016 was officially enacted and institutionalized by the Republic of Cyprus. The Law 125(Ι) 2018, in Cyprus, was adopted for the purpose of effective implementation of certain provisions of the European Union Act entitled "Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of individuals with regard to the processing of personal data and on free movement of such data and for the repeal of Directive 95/46 / EC (General Data Protection Regulation) ".

The regulation 679/2016 and the Cyprus Law 125(I) 2018, applies to any organization that collects, processes and stores personal data from EU citizens or a natural person residing in the EU or completing transactions within EU agencies.

Some of the types that GDPR protects are the following:

• Basic identity information such as name, address and ID numbers
• Web data such as location, IP address, cookie data and RFID tags
• Health and genetic data
• Biometric data
• Racial or ethnic data
• Political opinions
• Sexual orientation

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Abbreviated Business Plan

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Published: Friday, 19 April 2019 08:46

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You may come across different views regarding the content and length of a Business Plan.

You will also find that there are different views regarding the use of a Business Plan and the benefits it provides.

Our purpose is to provide a thorough explanation of what a Brief (Summarising) Abbreviated Business Plan is and when that is the appropriate type of Business Plan for your enterprise.

Also, you can click, here, to read “What is a Business Plan, Who Needs one and Why, Benefits” ", explaining in detail what is a Business Plan and what it involves, how a Business Plan is utilised to maximise potential benefits and what are the Benefits provided.

If your specific needs require a detailed Business Plan, you can click, here, to read in depth what information needs to be analysed and recorded in each section of your Business Plan.

Bear in mind that in case you need a Business Plan to secure a Business Loan or to search for Investors, regardless of whether your business is an Existing Businesses or a Start-up, you will need a Formal Business Plan.

Contact us for support in assessing your Business Planning needs, and for the Preparation and Implementation of the appropriate Business Plan for your enterprise.

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Formal Business Plan

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Published: Friday, 19 April 2019 08:46

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You can click, here, to read “What is a Business Plan, Who Needs one and Why, Benefits” for detailed insight that will help you assess your needs and understand which is the effective Business Plan for your particular needs.

It is important to keep in mind that a Formal Business Plan, amongst other cases, is needed both for Existing Businesses and Start-ups for:

• Securing a Business Loan
• Searching for Investors

If a Formal Business Plan is required in order to satisfy your specific needs, it is important for you to study and understand what the necessary content should be, bearing in mind that the content should be adjusted for your target audience and the purpose of your Business Plan.

Below you can see the different Sections included in a Formal Business Plan and read in detail what is included in each section, depending on its use and the target audience.

Whichever type of Business Plan is required to serve your specific needs, it could be a brief (Summarising) Abbreviated Business Plan or a Formal Business Plan, studying what each Section of the Business Plan involves will help you understand the analysis that needs to be performed for each Section. You should remember that, even in a brief Abbreviated Business Plan where the information recorded is summarised, the analysis steps must be followed in order to obtain the information that should be recorded in your Business Plan.

Given the opportunity you should know that for Existing Businesses, with a period of activity of more than 2 years, operating in eligible sectors of the economy (Services, Manufacturing, Tourism, Construction, Commerce, etc.), which in their efforts for further improvement and business development need to develop a Formal Business Plan, we can help you utilise the "Small Business Support Programme in Cyprus" Programme provided by the EBRD. The Programme provides 65% Grant (not loan) (up to 70% under certain conditions) of the net development cost.

Contact us for support in assessing your Business Planning needs, and for the Preparation and Implementation of the appropriate Business Plan for your enterprise.

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