Algolysis Ltd is a research, technology and innovation start-up company focusing on tackling real-life problems by devising state-of-the-art algorithmic solutions. Founded in 2014, Algolysis is a recent entrant in Cyprus’ and EU innovation ecosystem and is currently undertaking projects related to fault-prone distributed systems, wireless sensor networks, data acquisition, analysis and visualization. The company has diverse and scientifically-backed expertise in computing, and its vision is to become a key technology provider in Cyprus and the south-east European region.
Purpose of the Company’s Creation
Following the Cypriot financial crisis (2012-13) it has become apparent that the country’s reliance on the provision of financial services is a risky strategy and alternatives should be sought. Since then, the EU is implementing a research and innovation strategy aimed at rejuvenating and enhancing the competitiveness of smaller economies like Cyprus’. Despite these programs, however, Cyprus remains an underperforming R&I country of the EU-28 block.
The two founders of Algolysis Ltd observed that the major obstacle in improving the R&I performance of Cyprus, as well as in other EU Member States, is the lack of sufficient knowledge transfer from academia to the industry and vice versa. Research organizations are very successful in conducting cutting-edge research, but only a small percentage of this research is finally utilized by the industry and turned into products and services. Thus, Algolysis Ltd was formed driven by its founders’ desire to innovate and turn their scientific know-how into products and services that can have an immediate impact. Being primarily an ICT research, technology and innovation company Algolysis aspires to become a key building block of the local and EU innovation ecosystem.
Algolysis is a startup company and thus relies mainly on the experience and track record of its key personnel who have coordinated and participated in several National and EU projects previously (please see respective CVs in the Key Personnel Section).
The scientists of the company have extensive experience in software development and have participated in significant research and development projects in the EU and USA. They have a strong background in algorithm design, testing and implementation across a diverse range of areas in Computer Science, and beyond. Armed with over 15 years of experience in scientific research, the senior algorithms engineers are always on the lookout for new challenges and are able to address topics in the following two areas: (i)
Distributed & Parallel Computing / Networks, Distributed Systems & Sensing, and (ii) Computer Graphics / Computer Vision / Image Processing / Human-Computer Interaction.