IDEK and META Group to manage Cyprus knowledge transfer office

The Research and Innovation Foundation (IDEK) on Thursday announced that it has entered into an agreement with the Italian innovation organisation META Group.

The agreement seeks to facilitate the operation and management of the Central Office of Knowledge Transfer within the Cypriot foundation.

According to an announcement by the foundation, the five-year agreement will take effect on May 2, 2023, and will ultimately conclude in December 2028.

Moreover, as mentioned before, the operation of a Central Knowledge Transfer Office is one of the investments of the national plan “Cyprus – Tomorrow”.

The foundation has previously explained that the office aims to support the development of capacities and skills for knowledge transfer and ultimately lead to the commercial exploitation of research results at the national level, thus bridging the gap between academia and the private sector.

What is more, the knowledge transfer office will provide knowledge transfer services to research and innovation projects implemented by Cypriot institutions, helping to support their commercial exploitation, thus enhancing their impact on the local economy and society.

It has been well-established that the commercialisation of research produced by academic institutions and research organisations can create new products and services that can subsequently be used to solve key problems and issues facing people, both at the local and international levels.

In addition, research commercialisation can help in improving the quality of life of people, help consumers by creating better products, as well as assisting businesses in becoming more effective and efficient, across a large number of sectors.

“The collaboration with a leading group like META Group brings us one step closer to achieving the strategic goals set for the commercial exploitation of research results in Cyprus. At the same time, it contributes to the creation of an entrepreneurial culture within academic and research institutions, facilitating the transfer of results from laboratories to the market, as well as the development of new products and services by businesses,” IDEK general director Theodoros Loukaidis said.

“The services of the Central Knowledge Transfer Office will be provided free of charge and will be available to all stakeholders of the ecosystem under the relevant state aid regulations,” he added.

Meanwhile, Meta Group chief executive officer Alessia Melasecche Germini said that the group is proud to be cooperating with IDEK and helping to contribute to the effort of transforming research into innovation in Cyprus.

“This is a unique opportunity for the R&D bodies of Cyprus to use the international experience and know-how that we have in matters of practical utilization of scientific knowledge, as well as the pivotal role of IDEK for economic development through research, technological development and innovation in the country,” Germini stated.

“The META Group is a leading consultancy that works with public and private organizations to shape knowledge-based opportunities, from the concept stage through implementation and completion. Its mission is to promote and create knowledge start-ups and ensure they generate positive impact while addressing society’s most pressing challenges,” she added.

Finally, it should be noted that the company is a leader in the exploitation of research results in the EU, supporting over 1,800 consortia, more than 500 companies linked to private investors, and thousands of entrepreneurs and researchers who have been trained and mentored under the company’s guidance.