Invest Cyprus - CIPA’s Post

2024 was the 1st complete year of my tenure as the Chairman of the board of the Research Innovation Fournation, and with the support of the Board of Directors and the exceptional management of the Director General Theodoros Loukaidis we have managed to achieve a major turnaround in breaknecking pace. We have solidified Cyprus’s 10th position for a 3rd year in a row and moved 1 spot above in the Global innovation index now ranking no.27 globally. The Ίδρυμα Έρευνας και Καινοτομίας/Research and Innovation Foundation team has worked hard engaging with more than 200 new customers who have shown interest in our programs, supporting nation wide events such as the European Researcher night while ensuring that the funding available in grants keeps on increasing 2024 was at 47.5m Euro. The number of female lead research projects has increased form 22% to 42% and for the first time in the foundations history we have executed successfully blended finance calls such as Distupt with companies that are showcasing that Cypriot born innovation can thrive abroad. Research excellence is on the rise with private reseach organizations also stepping up to support the leadership established by Public universities whuch have demonstrated exc results 2024 has been the busiest year for the Ίδρυμα Έρευνας και Καινοτομίας/Research and Innovation Foundation with all hands on deck supporting the existing operation but also ensuring that Cyprus thrives through internationalization, and yes, we have made it across Europe, Middle East and Asia and in 2025, we will also internationalize our ecosystem extensively in the United States. We have embraced transparency featuring research grant and innovation grant beneficiaries online on our website and sharing success stories through media outlets, panels and tv. We are not done, and will continue to focus relentlessly in maximising every investment in Research, development and innovation made by tax payers money and commit to learning and improving every day to deliver on the Research and Innovation strategy 2024-2026 entrusted to us by the Council of Ministers. On behalf of all the board members I would like to thanks the President Nikos Christodoulides , the council of Ministers for the support and trust in our mission and in particular the Deputy Minister Nicodemos Damianou, PhD for his support and relentless cooperation on all matters A special appreciation to our team at the Ίδρυμα Έρευνας και Καινοτομίας/Research and Innovation Foundation for their exceptional work and to all other stakeholders in Cyprus Cyprus Chamber of Commerce & Industry Invest Cyprus - CIPA Cyprus Employers & Industrialists Federation (OEB) - Ομοσπονδία Εργοδοτών & Βιομηχάνων (ΟΕΒ) TechIsland® CITEA - Cyprus Information Technology Enterprises Association The Rectors Council and all our researcher community for working relentlessly to make Cyprus a Research, innovation and technology hub by 2035 2025 will be a faster year, with more impact!!!