What is the name of your organization?
SocialTech Lab
What is the name of your solution?
Peace Economics in Action
Provide a one-line summary or tagline for your solution.
Enabling social impact, economic development & sustainable peace via a platform of digital tools, innovation programs, and physical spaces.
In what city, town, or region is your solution team headquartered?
Nicosia, Cyprus
In what country is your solution team headquartered?
Cyprus
What type of organization is your solution team?
Nonprofit
Film your elevator pitch.
What specific problem are you solving?
Cyprus, home to the last divided EU capital for >50 years, has suffered from unresolved conflict and economic stagnation. This division impacts economic development, with Cyprus’ GDP per capita being lower than that of other EU nations. The island's youth, disproportionately affected by unemployment and division, lack access to resources and opportunities for economic advancement. These issues are exacerbated by the ongoing division, which holds the island back economically while also significantly widening the digital gap between the two main communities in Cyprus.
Around the world, we are witnessing an alarming increase in violent conflicts, with some of the highest levels recorded since WWII. This escalation affects global peace and economic stability, underlining the critical need for accessible entrepreneurial capital and innovative technology for resilience in conflict regions across the world like Cyprus, especially MENA. The economic repercussions of conflict are profound, as historically, nations with low peace experience hindered economic growth compared to more peaceful counterparts.
However, traditional peacebuilding efforts remain uncoordinated and fail to engage new audiences while only reaching <30% of the population. The lack of innovation in peacebuilding tools and methodologies hinders their effectiveness in addressing complex and evolving conflicts, and fails to promote social and economic impact.
What is your solution?
SocialTech Lab addresses these challenges by cultivating an environment where young people can innovate for peace and development. Our “Social Impact Generator” model builds resilient innovation ecosystems in conflict-affected regions through six pillars: Research, Capacity Building, Policy, Digital Tools, Live Programs, Physical Spaces. It drives systemic change by using local insights to develop data-driven, regionally relevant solutions.
We integrate digital tools (e-learning, AI tools, apps), innovation programs (hackathons, venture builders, accelerators), and shared physical spaces (coworking) for economic and social cohesion across divided communities. Our peacetech platform, CyprusInno, connects 7,000+ entrepreneurs across divides through startup mapping, jobs board, ecosystem guides, and e-courses. We deploy tools such as our AI chatbot simplifying trade regulations across our divide and a mobile app to connect alumni across borders. Our physical hub, The Base by CyprusInno, is the world’s first innovation center in a Buffer Zone and provides a safe space for conflict-affected entrepreneurs. Here we accelerate and incubate startups through venture builders with UNDP supporting impact tech, an academy for women entrepreneurs, hackathons such as an AI/ML hackathon with Microsoft, sector-specific bootcamps, and more.
These initiatives reduce unemployment, foster economic integration, and position technology and entrepreneurship as drivers of peace and development.
Who does your solution serve, and in what ways will the solution impact their lives?
We target youth innovators (18 to 35) from conflict-affected and divided communities like Cyprus, the Middle East, and the Western Balkans who face challenges such as unemployment, limited growth opportunities, or underemployment - and who aspire to pursue entrepreneurship or launch startups for personal and professional growth. In the EU alone, there are nearly 3 million youth (<25) unemployed. In Cyprus and other fragile regions, the situation is even more challenging, as youth face higher unemployment rates due to limited access to resources and reduced economic resilience caused by conflict and inter-communal tensions. We also support women entrepreneurs to address the gender gap in the startup ecosystem and work to ensure community balance and representation not only from the main divided communities we work with, but also from other critical community members (i.e., migrants, refugees). By offering targeted support and resources such as startup programs, funding, mentorship, and digital support tools, we enable young aspiring entrepreneurs from diverse backgrounds to overcome barriers to entry and achieve success. Through strategic partnerships (i.e. Microsoft), we ensure that these underserved populations have access to the tools and knowledge necessary to participate in the digital economy, thus reducing disparities and promoting equitable opportunities for all.
