Demetris Skourides spoke with Souzana Psara about his transformative first year as Chief Scientist. He detailed significant strides in research and innovation, Cyprus’ growing role on the global stage, and targeted initiatives to attract expatriates back to the country.

1. What have you accomplished in our first year as Chief Scientist?

Of course, let me first start by the focus on programs in the areas of energy sector to accelerate the green transition. Through the research innovation foundation, over €9 million have been provided supporting organisations to accelerate the research in themes centered around green transition.

The second initiative was to amplify the awareness of the innovation programmes of RIF amongst all Cypriot companies.

246 organisations participated for the very first time in the RIF funding programmes and services.

The Pre-Seed Call hit a new record of number of proposals at 167 in 2024 instead of 134 in 2023 (62.87 per cent) representing 105 in financial year 2022

In my role, I hosted the first round-table event with stakeholders from research, innovation, and technology to address the challenges needed to jump-start research as a key driver for the Cypriot economy.

This included meeting the first 50 stakeholders of the ecosystem and engaging with the entire organisation to build alignment and momentum.

I also facilitated an offsite meeting with the new Board of Directors of the RIF, where we aligned our goals with the new R&I Strategy approved by the Council of Ministers in December 2023.

One of the key challenges I tackled was addressing negative perceptions regarding the transparency and fairness of funding programmes, particularly concerns about potential bias toward non-Cyprus-based companies.

This required proactive communication and a clear demonstration of our commitment to equitable and transparent practices.

During my first year as Chief Scientist, the awarding of RIFs 5 strategic infrastructures in the areas of Space, Maritime, Health, Environment, Agrofood led to the first of its kind space research center.

The Cyprus Space Research Centre launched under the auspices of the Chief Scientist and also placed under the Auspices of the International Committee of Space and Research.

Increased priority was placed on encouraging and inspiring youth engagement in STEM through robotics competitions, and advocacy for women in STEM with mentorship programmes, and championing gender equality as one of my key objectives. 

To-date, the female representation in the RIF to 66 per cent, with 50 per cent in senior roles, while boosting women’s participation in research programs from 22.9 per cent (2016–2024) to a historic 44 per cent.

As for key collaborations and initiatives, under my leadership, discussions were held with a research delegation from Japan.

The delegation was comprised by Kazuhito Hashimoto, the president of the Japan Science and Technology Agency (JST), Takehito Higuchi, the Deputy Director of JST’s Paris Office, Takehito Higuchi, the Deputy Director of JST’s Paris Office Hosted by the Japanese Ambassador in Cyprus Yoshio Yamawaki. 

This initial introduction was followed by two subsequent meetings in Japan lead to the 1st Business mission of Cyprus – Japan and the 1st MoU in the fields of Science & Technology signed October 2024 signed by the Deputy Minister of Digital Policy, Research and Innovation  Nicodemos Damianou. 

As Chief scientist and chairman of the board of RIF, I have also participated in the STS forum in Japan and have also facilitated the Japanese delegation visiting Phaethon research centre.

Apart from this, through my leadership as Chief Scientist and Chairman of the Research and Innovation Foundation, further alignment and launch of two joint calls with Israel in the domains of research and technology, which received an unprecedented subscription executed through the exceptional operation excellence of the RIF.

To create trust and inspire our innovation lead companies, I have personally led the internationalisation of the Cypriot innovation and research ecosystem with participation in UAE, Finland, Saudi Arabia, Spain, Japan, United States creating unprecedented exposure for Cyprus.

In the 2023 Greenfield FDI Performance Index, Cyprus achieved notable rankings, placing 4th in Emerging Europe and 11th globally, according to FDI Intelligence.

Additionally, Cyprus was recognised for its impressive post-pandemic recovery, securing the third position worldwide for the recovery of foreign direct investment (FDI).

Furthermore, Cyprus has been identified as one of the countries that has seen significant growth in inbound FDI.

And for this I am thankful to the Board of Directors of Invest Cyprus, and the CEO Marios Tannousis, for their strategic efforts in attracting and facilitating Foreign Direct Investment into the country.

A lot of work was also done by the Research and Innovation Foundation in boosting FDI’s in Cyprus. Through strategic initiatives and funding programmes, RIF has significantly contributed to the country’s economic growth and global competitiveness.

Furthermore, we should mention that, more than 300 foreign companies established operations in Cyprus, while the adoption of new technologies among local businesses saw significant progress, with AI adoption rising to 7.9 per cent, up from 4.7 per cent in 2023.

I am a believer of transparent and authentic communication and how keeping people informed helps create trust and proud that the brand presence of the Research innovation strategy since Sept 2023 has increased by 30.1 per cent in social media with news and updates viewed 3,454,885 times. 

The work and activities of the Chief Scientist have received over 3 million views on LinkedIn and 1836 references to his work.

Additionally, the introductory podcast of the Chief scientists has been converted in Arabic, Japanese, French, Spanish created unprecedented reach.

As of my work as Chief scientist I have already accommodated 640 meetings with ecosystem stakeholders including policy officers in the first 12 months, and 850 in the first 15months of my tenure advocating for the Cypriot R&D 2024-2026 strategy worldwide, paving the way for MOUs and strategic partnerships first with Israel, Japan, Greece, and others including USA, UAE, India, Singapore, Indonesia and other countries in progress. 

In addition, I advocate for Accountability, transparency, inclusivity, gender equality enabling the shift towards an ecosystem that thrives on Research Excellence and Innovation but also Commercialisation.

As Chief scientist I represent Cyprus in the Board of Governors of JRC, the European Scientific Advisory Forum, the Global Chief Advisors Community that advocate for science for policy support. In addition, we have established an outreach framework with the appropriate usage of digital and social channels paving the way for Cyprus’ value proposition to reach a global audience of 2bn+ population across the world including ASEAN, Australia, Middle east, USA, Israel, and India. 

These joint undertaking of initiatives and activities have increased Cyprus visibility by 1000X propelling Cyprus brand as a technology, research, and innovation hub.

2. What’s been the biggest surprise or challenge in your new role?

The biggest surprises and challenges in my role have stemmed from the evolving dynamics of the Research and Innovation (R&I) ecosystem. On the challenging side, a significant portion of funding is not yielding the desired outputs due to the ecosystem’s maturity, requiring a mindset shift toward research and innovation excellence that drives commercialisation and societal impact.

Additionally, siloed investments, outdated digital skill sets, and a lack of strong connections between research organisations and industry have hindered scalability and productivity.

On the positive side, I’ve been impressed by the strong linkages between research organisations, a robust base of world-class ERC researchers, and Cyprus’ exceptional capacity to absorb research funds.

Furthermore, the emerging R&D capabilities in sectors like energy, biotech, IT, defence, environmental engineering, and space signal tremendous potential for growth and global competitiveness.

3. How will you help Cyprus become a leading hub for research and innovation by 2035 and which industries do you think have the most potential to grow?

I firmly believe that our country has the potential to become a leader in research and innovation, and several key sectors stand out as having the most promise for growth. I’m referring to the technology, Healthcare and Healthtech, EnergyTech, Agrotech, Gametech and Fintech sectors.

The technology sector in Cyprus is already thriving, with global companies such as ASBIS, Paybl, Jetbrains, and Soul Publishing making significant strides in their respective fields.

We are also fostering innovation through initiatives such as Cyprus Seeds, which supports deep-tech startups emerging from local research institutions.

The growth of this sector positions Cyprus as a competitive player in global technology markets.

As for Healthcare and Healthtech, we have strong foundations, with cutting-edge centres like the Biobanking and Biomedical Research Centre, the German Oncology Center and the Institute of Neurology and Genetics.

In the other hand startups like Theramir are also showcasing our strength in medical innovation and biotechnology, paving the way for significant advancements in areas such as personalised medicine and diagnostics.

What it comes to EnergyTech, this sector is gaining considerable momentum, with strategic partnerships between public universitities and industry and also companies such as EnergyIntl leading the way. 

The Αgrotech sector is vital for modernising agriculture and addressing global food challenges. Initiatives like the European project AgroLIFE and precision farming research from the Agricultural Research Institute are driving innovation in sustainable agricultural practices, improving food security.

Other highly important sectors are Gametech and Fintech. Cyprus is rapidly becoming a hub for this tow sectors, with the growth of the Gametech sector driven by the rise of e-sports and international events that attract talent from across the globe.

Fintech is also expanding, with increasing investments and interest in Cyprus as a destination for digital financial services innovation.

4. How do you plan to bring back Cypriot researchers working abroad and attract global talent and are there specific incentives to encourage expatriates to return?

The Government has tax incentives in place for highly skilled individuals, including those who have left and wish to return. Such incentives help us reverse brain drain.

But I want to emphasise to the RIF’s “Excellence Hubs” initiative which is a groundbreaking program that allows private organisations to receive funding.

Through this initiative, 450 researchers were given the opportunity to compete for funding, which is unprecedented for Cyprus.

Through the “Excellence” we aim to enhance research and innovation by providing significant support to researchers for the development of their projects.

This initiative marks a significant step forward in fostering a robust research environment in Cyprus.

There are many incentives, and more funding put into the national ecosystem, compared to a few years back.

From R&D tax discount to scientific and startup visa scheme to help us bring good talent to Cyprus, to tax discounts to investors but also the IP regime and more. All these create a very conducive environment where research and innovation can thrive. 

5. Can you share any success stories of people returning to Cyprus to contribute?

Certainly, there are several success stories of highly specialised professionals returning to work in Cyprus particularly in the innovation space.

I can specifically mention companies such as, EnergyIntel, which has brought back scientists and engineers to Cyprus from countries such as the United Kingdom, Denmark, and the Netherlands, Dynamic Works where exceptional talent has returned from the USA for strategic positions such as that of the COO. 

The are other companies where either Cypriot researchers and technologists have either returned building new technology companies such as Electi Consulting, or Parasectix and Threedium who have also setup offices in Cyprus after their main offices in the United Kingdom. 

There are also strong examples of Scientists and Researchers that are now employed at our universities, and other institutes particularly in the areas of health that are bringing back world class experience, visiting professors from the USA who spend their time between the United States and Cyprus. 

Here I would also like to mention my first-hand experience of professionals and investors such as Andreas Panayi from Kinisis Ventures who spends a substantial part of his time between the USA and Cyprus providing with his associates a platform for growth, for the Cypriot based startups to scale into the markets of the United States.

My list would not be complete if I did not also mention the jobs created by many of the innovation technology, gaming, fintech companies that have also made their homes.  I have personally interacted with world class professionals working at companies such as ASBIS, Paybl, Jetbrains, Soul publishing who are also attracting top talent from aboard into Cyprus.

6. What inspired you to leave a global tech career and take on this role in Cyprus?

2021 was a year where I almost lost my life to Covid, had it not been for the prayers to St Marina of Andros, and a 6-day dosage of remdesivir that I had received in the UAE courtesy of the Ministry of Health of Cyprus.

This experience humbled me and given the President’s grand vision of transforming Cyprus into a regional hub in research, innovation and technology, was a calling that resounded deep with my passion, to give back to Cyprus, after all, I long the day when one day I will retire here and look forward to helping improve the system.

Our President is a visionary and a strategist, my intention is to help the world see Cyprus as a regional hub building on the brilliance, the passion, the integrity, professionalism and research our nation can provide. 

For me, there is no best way to use the skills and experience I have earned through my international experience, and I must say that I am proud serving President Christodoulides and all of Cyprus and will continue to work tirelessly to further advance the objectives the Government has set.

7. How does this role align with your personal goals and vision?

My goals is to further help Cyprus grow its economy by developing into a modern state which also rises in both Research and technology Excellence within top 8 on the European Innovation Scoreboard and GII no. 25 and to transform our country into a role model for adoption of Artificial intelligence in support of strategic services that impact citisens simplifying life for citizens

I also want to prepare citizens and younger generations for the coming digital wave by increasing digital readiness and accelerate the rate of digital transformation and digitisation by creating the enabling ecosystem conditions for Cyprus to leapfrog DESI and GII

My personal goal is to put Cyprus on the World map setting up partnerships with the most advanced nations and ecosystems, creating new opportunities for Cyprus as a regional hub in technology, research, and innovation.

8. Do you see this as a chance to redefine innovation for smaller countries like Cyprus?

Yes, and we are already progressing very well with two MoUs already in place with joint programs already underway with Israel, Japan and Greece and more to follow in 2025 with other Technologically advanced countries. 

We are also exploring cooperation with a series of other nations and have already made positive progress in creating a bridge for Innovative Cyprus based organisations and startups to enter new markets such as those of GCC and ASEAN. 

By the end of 2025, Cyprus based companies will be able to purse a market entry of 1bn population.  The GCC market is substantial, with the ICT sector alone estimated to be worth USD 129.07 billion in 2024, and expected to grow to USD 203.09 billion by 2029, while the ASEAN economy had a total nominal GDP of USD 3.6 trillion in 2022, the region is projected to maintain robust growth, with a forecasted growth rate of 4.6 per cent in 2024 and grow steadily to 10 trillion by 2030. 

What matters is our capability to differentiate, be operationally excellent and accelerate the rate of transfer of know-how from lab to market.