Research and innovation have become integral to Cyprus’ economic model, with significant advancements reported in the past two years, according to Demetris Skourides, Chief Scientist and chairman of the Research and Innovation Foundation (RIF). At a recent media briefing in Nicosia, Skourides highlighted the strides made in establishing Cyprus as a credible partner in the global landscape of advanced research and innovation.
Photo: cyprus-mail.com
Significant Progress in Research and Innovation
Skourides, who took office in September 2023, has conducted approximately 1,700 meetings both domestically and internationally. These efforts are part of a broader strategy to enhance Cyprus’ reputation in the field of research and innovation, particularly as the nation prepares for its Presidency of the Council of the European Union in 2026.
Photo: cyprus-mail.com
Building International Partnerships
Central to Skourides’ vision is the establishment of structured collaborations with leading economies such as the US, Japan, Australia, India, and Israel. He asserted that these partnerships create valuable opportunities for Cyprus’ research community and innovation-driven businesses.
Improvements in Global Rankings
Reflecting on the achievements, Skourides noted that Cyprus has improved its position in international rankings, now standing at 25th in the Global Innovation Index. The startup ecosystem has also seen progress, climbing five places according to StartupBlink.
Focus on Artificial Intelligence
Skourides emphasised the importance of artificial intelligence (AI) as a strategic national priority. Targeted initiatives are underway to map the national AI ecosystem, linking research centres with commercial applications. He stated, “Our goal is for Cyprus to evolve into a dynamic and competitive economy, driven by research, scientific excellence, innovation, technological development, and entrepreneurship.”
Funding and Economic Impact
Under Skourides’ leadership, the RIF has launched 90 calls for proposals between 2023 and 2025, signing contracts worth €100 million. These initiatives align with the national research and innovation strategy, focusing on world-class research, business innovation, support for youth, and internationalisation.
- 739 new jobs created in advanced sectors
- 209 of those jobs filled by women
- 372 businesses supported through RIF initiatives
- 187 collaboration networks formed
These efforts have not only bolstered the economy but have also led to significant societal benefits.
Investment in Research Infrastructure
The RIF has also invested €25 million in strategic research infrastructure, funding five major facilities. Skourides highlighted the importance of empowering young researchers, noting that 48 are currently leading national projects through targeted schemes like the Vision ERC and ERC Fellowship programmes.
Support for High-Growth Companies
The RIF has played a crucial role in supporting high-growth companies through the Disrupt programme. This blended finance initiative allocated €10.5 million, which leveraged an additional €12.5 million in private venture capital. The seven companies involved now boast a combined valuation of over €150 million and have created 58 new jobs.
Enhancing Gender Equality in Research
Skourides also addressed the importance of gender equality, noting significant reforms in postdoctoral funding programmes. Female coordinators now account for more than 61% of submitted proposals and over 76% of funded projects, a stark improvement from previous years.
Streamlining RIF Operations
On the internal front, Skourides reported that the RIF has become a more agile and efficient body for managing state investments in research and innovation. Contract completion times have been reduced to seven months, down from 21 months in 2019, while payment times have improved to 61 days from 275 days.
Future Vision for Cyprus
Looking ahead, Skourides underscored the necessity of a human-centric approach to AI, ensuring ethical and responsible use while positioning Cyprus as a regional innovation hub. He leads a ten-member task force tasked with drafting and implementing this new framework.
The briefing attracted leading Cypriot researchers, who showcased how national funding has translated into tangible scientific achievements and economic impact, reinforcing Cyprus’ role in regional and international innovation.
