Cyprus innovation ecosystem aims to scale up with more investment and talent
Cyprus’ research and innovation sector has matured significantly, according to Theodoros Loukaidis, director general of the Research and Innovation Foundation (RIF), as the foundation celebrates its 30th anniversary. Loukaidis emphasized that the ecosystem must now focus on scaling up by attracting more private investment and talent, and on translating research into greater commercial value.
Highlighting a shift in local attitudes towards innovation, Loukaidis stated that Cyprus is no longer aspiring but actively developing its research environment, contributing increasingly to the economy. The next phase involves supporting the growth and maturity of this ecosystem to enhance its impact further.
This progression is part of a broader trend in Cyprus, which is also seeing increased international business collaborations and investments in sectors like technology and tourism, contributing to the island’s evolving economic landscape.
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