Cyprus must focus on commercialising research into market-ready products, according to Rana K. Gupta, Executive Director of the MIT Deshpande Centre, who spoke to the Cyprus Mail ahead of his participation in the Cyprus Seeds Innovation Showcase in Limassol.

The event, scheduled for May 22, 2026 at the Kolla Factory as part of the 2026 DOERS Summit, will bring together researchers, entrepreneurs and international mentors to explore how innovation ecosystems can accelerate growth.

Gupta is expected to take part in a discussion on how international networks and diaspora connections can help small and fast-evolving innovation hubs such as Cyprus scale more effectively.

He stressed that while Cyprus has made clear progress in research and technology, the central challenge remains converting scientific output into tangible economic and social value.

“Cyprus has no shortage of talent, ideas, or scientific research,” Gupta said.

He explained that the country’s growing presence in international rankings reflects its strengthening research base, but warned that invention alone is not enough to drive impact.

“Cyprus needs more than research, it needs commercialisation,” Gupta said.

According to Gupta, the gap between discovery and real-world application remains one of the most persistent challenges not only in Cyprus but across many advanced research economies.

He pointed to the role of Cyprus Seeds as a critical mechanism in addressing this issue, describing it as a key player in the country’s technology ecosystem.

“That gap between invention and impact is where Cyprus Seeds has emerged as one of the most important organisations,” Gupta said.

He explained that academic systems are well equipped to produce discoveries, publications and even patents, but often lack the tools needed to bring innovations to market.

“Transforming an invention into something the market adopts requires a completely different process,” Gupta said.

Gupta emphasised that most researchers are not trained in areas such as identifying customer needs, validating demand or engaging with investors, which are essential steps in commercialisation.

He said that Cyprus Seeds distinguishes itself by operating at an earlier stage than traditional investors or accelerators, supporting researchers before their ideas become fully formed business propositions.

“This distinction matters enormously,” Gupta stated.

Unlike accelerators that expect a degree of market readiness, he continued, Cyprus Seeds works with individuals who may not yet have entrepreneurial skills or a defined product, helping them build towards viability.

“It helps researchers bridge the gap between academic excellence and commercial readiness,” Gupta said.

Gupta drew parallels with the model pioneered by the MIT Deshpande Centre, which focuses on creating venture-ready technologies capable of delivering real-world impact.

He stressed that funding alone is insufficient, adding that researchers must also undergo a mindset shift in how they view impact beyond academic publishing.

“Commercialisation is another powerful way of achieving impact,” Gupta said.

The challenge is particularly acute in smaller ecosystems such as Cyprus, which lack the dense networks found in established innovation hubs like Boston or Silicon Valley, he explained.

Gupta said these global centres benefit from decades of accumulated expertise in entrepreneurship, mentorship and investment, something Cyprus is still in the process of developing.

He pointed out that Cyprus Seeds has adapted international best practices to local conditions, including building mentor networks that tap into diaspora expertise and international knowledge.

“Successful research economies are not built solely on research funding,” Gupta said.

He highlighted recent efforts to strengthen mentoring structures through models inspired by MIT’s Venture Mentoring Service, which emphasises long-term guidance and collaborative support.

Gupta also warned that traditional innovation metrics often fail to capture the true effectiveness of an ecosystem, as they tend to measure inputs such as spending or publications rather than outcomes.

“Commercialisation is the missing middle,” Gupta stated.

Without effective mechanisms to bridge this gap, he cautioned that valuable discoveries risk remaining confined to laboratories.

For Cyprus, he argued, this issue carries added urgency given its size, meaning the country must rely on agility, talent and specialisation rather than scale.

“Cyprus cannot compete globally on scale alone,” Gupta said.

He further stated that organisations like Cyprus Seeds play a foundational role in ensuring research leads to real-world outcomes, helping to build a more resilient and competitive innovation economy.

“They are helping build the foundations of a stronger technology economy,” Gupta concluded.