Cyprus Foundations Administration General Director Prof. Dr. Mustafa Tümer attended the International Educational Sciences Forum, which was opened last evening.

Prof. Tümer made important statements at the panel titled "Sustainable Entrepreneurship Examples for Entrepreneurship Ecosystems and Elements in Institutions".

In his speech, Prof. stated that institutionalization is of critical importance for sustainability. Tümer said, "Intrapreneurship has an important place in the sustainability of institutionalization. Institutionalization is one of the most important factors in achieving a sustainable structure for both commercial and non-profit businesses."

Prof. Tümer pointed out the necessity of institutionalization in order for institutions to reach the second generation and beyond, and stated that this process offers a more predictable environment for both managers and stakeholders. He emphasized that in this way, institutions can increase their performance by making more rational decisions.

Stating that thousands of foundations have been established on the island since 1570 and many of them continue to exist until today, Prof. Tümer added that foundations are taken as an example in terms of sustainability in Western countries.