The Deputy Ministry of Research, Innovation, and Digital Policy has set its sights on positioning Cyprus as a dominant force in research, innovation, entrepreneurship, and high technology.

In an ambitious move, the ministry has initiated a public consultation on the Research and Innovation Strategy 2024-2026, revealing Cyprus’s aspirations to solidify its status as a regional leader in these domains.

The strategy, outlined in the draft released by the ministry, focuses on the necessity of a comprehensive Research and Innovation (R&I) approach.

It aims to cultivate a well-integrated national ecosystem, highlighting its crucial role in bolstering the country’s economy and society.

Notably, recent strides in innovation have seen Cyprus climb the ranks on global indices. According to the European Innovation Scoreboard, Cyprus has progressed significantly, now ranking 10th with a performance surpassing the EU average by 105.4 per cent.

The country’s innovation performance surged by 45 per cent in 2023 alone, primarily driven by advancements in research systems, linkages, and innovative SMEs.

Moreover, Cyprus has made substantial headway in the Global Innovation Index (GII), securing 28th place out of 132 economies in 2023. This upward trajectory positions Cyprus as a key player in the Northern Africa and Western Asia region, excelling particularly in knowledge and technology outputs.

The country’s prowess in securing funding from prestigious programs like Horizon 2020 and its leading position in establishing Centers of Excellence in Research further underpin its commitment to innovation and research development.

In a statement emphasising its vision, the ministry stressed Cyprus’s ambition to attract investments, businesses, and talent, steering the nation toward a future characterised by thriving innovation and abundant opportunities.

The Research and Innovation Policy, as outlined, seeks to amplify the positive impact of R&I initiatives across social and economic domains.

Additionally, it aims to elevate Cyprus’s stature as a regional nucleus for research, innovation, entrepreneurship, and high technology, aiming to attract both local and international investments and enterprises.

To gather input and insights, the Deputy Ministry of Research, Innovation, and Digital Policy has opened a consultation platform, inviting comments and observations until December 5, 2023. This move underscores the government’s commitment to inclusive policymaking and fostering a vibrant culture of innovation in Cyprus.