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2019 Transparency Report

KPMG Science Shop

Bringing together the industry, academia and the community by facilitating research

The KPMG Science Shop was created in 2018 to facilitate research. Through partnerships with the island’s educational institutions, it aspires not only to provide solutions, but also to maintain and enlarge KPMG’s large network of stakeholders. Since its establishment, it contributed to various initiatives held across the island, some of which are analysed below, and all of which had significant impact on the local community, academia and the research community, as well as the industry itself.

Within the context of the KPMG Science Shop as a means of disseminating knowledge to the society, KPMG in Cyprus and the Cyprus Institute of Marketing (CIM) formed a strategic partnership and delivered two entrepreneurship workshops under the auspices of Nicosia and Limassol Municipalities, on 18-19 June and 17-18 September 2019. The workshops focused on analysing and demonstrating tools and skills required for setting up a new venture, in order to face the challenges in a rapidly changing environment. By the end of the two workshops, participants prepared their pitch of concept. The winners won cash prizes.

Moreover, KPMG in Cyprus sponsored two scholarships for students to study at CIM. Following thorough examination of the large number of applications, KPMG and CIM offered the scholarships as follows:

  • 1 full scholarship worth €7.700, for the postgraduate programme MBA Shipping (14 Months FT/24 Months PT).
  • 1 partial scholarship worth €6.500, for the undergraduate programme of the University of West London, BA (Hons) Accounting & Finance. The scholarship covered the first out of the three years duration of the programme.

In addition, within the framework of the KPMG Science Shop the Firm collaborated with Larnaka Municipality for the submission of H2020 Twinning project Maritec-X. The project was successful in receiving €30 million of funding from the Cyprus Government and the European Commission for the establishment of the Cyprus Marine and Maritime Institute (CMMI), a Centre of Excellence and Research.

Based in Larnaka, the CMMI is an independent, international, scientific and business Centre of Excellence for Marine and Maritime activities. It carries out research, technological development and innovation activities (RTDI) aiming to provide practical solutions to the challenges that the marine and maritime industry, and society, face or will face in the future. The kick-off took place in July 2019 and the commencement of activities in October 2019. KPMG in Cyprus is a firm contributor in resources for the implementation of research projects relating to preparation of prototypes and proof of concepts in the topics of Marine and Maritime studies. This project has received funding from the European Union’s H2020 Research and Innovation Action.