The Government's support is making it easier for businesses to pursue the innovation that is so vital to Cyprus Economy. Dynamic Works is one of the few companies to be selected for funding under the first call of the “Business Innovation Scheme based on the Europe 2020 Strategy for: Smart, Sustainable and Inclusive Growth” of the Ministry of Commerce, Industry and Tourism, being co-funded by the Structural Funds of the EU.
The economic crisis that plagues both Cyprus and the international market, imposes finding ways to limit the costs to households, agricultural, commercial and industrial consumers. One of the sizeable budgets which the consumer has to pay on a monthly basis is electricity. Having in mind that the consumer does not know the actual consumption for the devices used within a household or business, it is hard to limit this expenditure.
The proposed project (P.M.S: Power Management System, Contract No: 22.214.171.124.2.3.25) involves the design and production of electricity consumption monitoring device which can be easily mounted to any electrical device. At the same time the project includes development of a web application which will securely collect information via internet from any installed device. All data will be processed and presented to the consumer by logging on to this web-based application, which will be designed and developed by Dynamic Works.
Dynamic Works aims to empower the consumer with the necessary tools required to control electricity consumption. The consumer will be able to save energy and also will have the opportunity to analyze understand the Electricity Supplier charges. Studies have shown that when consumers understand the reasons of high consumption, can save between, 4% to 15% of their total cost.
On 29th & 30th of May 2013, Dynamic Works will take part in iFXEXPO International Cyprus, one the largest financial B2B conventions.