The choice of i-BrainTech is considered as a statement of confidence in Cyprus.
The Israeli sports technology business i-BrainTech, a pioneer in athletic brain training, announced its intention to expand its operations to Cyprus on Tuesday.
“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,” the announcement said.
“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,” it added.
The company's staff is made up of seasoned neuroscientists, artificial intelligence (AI) engineers, athletes, and entrepreneurs who aim to "unlock human potential with neuroscience," in their own words.
“We are strong believers that our brains deserve just as much attention as our bodies to achieve the maximum performance improvement possible,” the company explained, which led to them developing a brain-training technology, with the aim being to revolutionise the way in which people train and improve.
“Our technology, developed with input from professional athletes and industry leaders, incorporates proven neuroscientific principles and machine learning algorithms, based on more than 10 years of academic research,” the company added.
Furthermore, the corporation has previously asserted that athletes and patients from all around the world have had excellent outcomes utilising its technology.
“We have been deemed the “future of football” by World Soccer Magazine and welcome you to join us as we work towards transforming the future of sports,” the company said.
On the same day, National investment promotion agency Invest Cyprus made a statement applauding the company's choice to chose Cyprus as its next location to build its business, branding it "as an appropriate place for business implementation and expansion".
Furthermore, the agency stated that i-choice BrainTech's demonstrates that Cyprus is becoming a popular destination for European Union technology enterprises.
“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,” Invest Cyprus deputy director general Marios Tannousis said.
“Additionally, the country offers a business-friendly environment, with a skilled and educated workforce, and a strategic geographic location,” he added.
Discussing the move, Konstantin Sonkin, the CEO of i-BrainTech, said that "with our expansion to Cyprus, we are set to make a lasting influence 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".
"With unrivalled protocols, a business-friendly climate, and professionalism, Cyprus is an excellent location for our efforts," he continued.
“Cyprus is an ideal destination for our efforts, with unmatched procedures, business-friendly environment, and professionalism,” he added.
Sonkin further elaborated by saying that “Invest Cyprus has been a valuable partner, facilitating a smooth and efficient completion of all necessary procedures”.
According to the agency, the number of international firms relocating to Cyprus in 2022 climbed by more than 50% year on year, while the total number of jobs produced increased by nearly 80%.
Furthermore, the total impact of these enterprises' relocation on the Cypriot economy has been projected to be €3 billion.
“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,” Invest Cyprus concluded in its statement.
By fLEXI tEAM