Cyprus’s National Research & Innovation Strategy 2024-2026 aims to transform the country into a hub for research, innovation, and high technology. The strategy focuses on integrating research and innovation into the socio-economic development of Cyprus to enhance its global competitiveness, attract investments and talent, and establish centers of excellence.
What is the goal of Cyprus’s National Research & Innovation Strategy 2024-2026?
Cyprus aims to transform into a hub for research, innovation, entrepreneurship, and high technology through its National Research & Innovation Strategy 2024-2026. The strategy focuses on integrating research and innovation into the socio-economic development of Cyprus to enhance its global competitiveness, attract investments and talent, and establish centers of excellence.
Setting the Stage for a High-Tech Ecosystem
The Deputy Ministry of Research, Innovation, and Digital Policy of Cyprus has embarked on a transformative journey. Their goal? To make Cyprus a hub for research, innovation, entrepreneurship, and high technology. It’s no small feat, but the plans laid out in the recently initiated public consultation for the Research and Innovation Strategy 2024-2026 suggest that Cyprus is more than ready to take on the challenge.
A Strategy for Growth and Excellence
Central to the strategy is the creation of a robust national ecosystem that integrates research and innovation into the very fabric of Cyprus’s socio-economic development. The draft unveiled by the ministry paints a bold vision of the future—the island nation, not just keeping pace with its neighbors, but leading the way in the region.
Cyprus’s Leap in Global Rankings
The fruits of recent efforts are already apparent. The European Innovation Scoreboard speaks volumes, with Cyprus climbing to a remarkable 10th place, outperforming the EU average by a staggering 105.4 percent. The year 2023 alone saw a 45 percent increase in the country’s innovation performance. This leap forward can be attributed to the significant advancements in research systems, collaborations, and the vitality of innovative SMEs.
The ascent continues on the Global Innovation Index (GII), where Cyprus claimed the 28th spot out of 132 economies in 2023. This impressive performance shines a light on Cyprus’s potential as a beacon of knowledge and technology outputs in the Northern Africa and Western Asia region.
Funding Success and Centers of Excellence
Cyprus has shown a flair for securing funds from prestigious international programs, such as Horizon 2020. The nation’s efforts to establish Centers of Excellence in Research are testament to its unwavering commitment to fostering a climate where innovation and research development can thrive.
Attracting Talent and Investments
The ministry’s statement lays out Cyprus’s ambition to become a magnet for investments, businesses, and top-tier talent. The vision is clear—a future where innovation blooms and opportunities are plentiful.
Engaging the Community
Inclusivity is a cornerstone of the strategy’s development. To that end, the Deputy Ministry of Research, Innovation, and Digital Policy has opened a consultation platform. The invitation is extended to the public to share their comments and insights up until December 5, 2023. This step reiterates the government’s pledge to inclusivity in policy formation and to nurturing an environment where innovation is part and parcel of the everyday experience in Cyprus.
Moving Forward
The proposed Research and Innovation Policy is more than a blueprint; it’s a declaration of intent. It seeks to harness the transformative power of research and innovation, to elevate Cyprus’s stature on the international stage, and to drive social and economic progress.
Through these initiatives, Cyprus is poised to become a regional nucleus for innovation, where local and international investments flourish, and enterprises of all sizes can reap the benefits of a forward-looking, innovative economy. The ongoing public consultation is a stepping stone towards this future, ensuring that the voices of citizens and stakeholders help shape the exciting course for Cyprus’s research and innovation landscape.
Quick Recap
- Cyprus aims to transform into a hub for research, innovation, entrepreneurship, and high technology through its National Research & Innovation Strategy 2024-2026.
- The strategy focuses on integrating research and innovation into the socio-economic development of Cyprus to enhance its global competitiveness, attract investments and talent, and establish centers of excellence.
- Cyprus has climbed to 10th place in the European Innovation Scoreboard and claimed the 28th spot in the Global Innovation Index.
- Cyprus has secured funds from prestigious international programs and is committed to establishing Centers of Excellence in Research.
- The ministry aims to attract talent and investments, engage the community through inclusivity, and drive social and economic progress through research and innovation.
