Cyprus Mail
Cyprus

New research centre in the heart of Nicosia

A new research centre, RISE, in the heart of Nicosia, is designed to act as an integrator of academic research and industrial innovation, an official said.
“It will be the first centre of excellence in Cyprus,” Constantinos Karageorgis from the commerce ministry said at the launch on Tuesday.
RISE which stands for research centre on interactive media, smart systems and emerging technologies is a venture between academics from the three public universities in Cyprus and the municipality of Nicosia. There are also two international partners, the Max Planck Institute for Informatics in Germany and the University College London in UK.
“There needs to be a supportive framework with synergies among businesses, the government and academic scientists,” said Karageorgis
“An entrepreneurial culture needs to be developed from early student life and we need to create a modern business environment including e-government which helps to simplify grants.”
“The idea came from an EU call,” said Giorgos Chrysanthou, associate professor at the University of Cyprus. “Some countries are behind in research and innovation. So they need to team up with experts who already know what they are doing and then address what needs to be done in a specific country,
“Innovation and change should help the economy to grow,” he added. “The aim is to use research which is user-centred and in the real world. This is why the centre is based in Nicosia’s old town market,” he explained.
It is supported by a budget of around €40m, of which €15m comes from the EU, €15m from the Cyprus government and the rest from various sources. With this money, the centre will act as an incubator and accelerator for established companies and start-ups. Currently, the project is in its first phase, where a detailed business plan is prepared.

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