Connecting Innovative Products to the Market Info Day

08/02/2024

Chief Scientist for Research, Innovation and Technology,

Mr. Demetris Skourides

Connecting Innovative Products to the Market Info Day

Limassol Municipality Blue Innovation Centre | 8 February 2024

Dear participants, speakers, and esteemed guests,

Ladies and Gentlemen,

It is with great pleasure that I join you on this extraordinary occasion, which brings together key figures of the maritime industry; a leading sector and a driving force of our economy. Congratulations to the organizers for this impactful initiative, facilitating connections among tech pioneers, entrepreneurs, innovators, and investors.

The Limassol Municipality Blue Innovation Centre stands as a cornerstone of our vision for a sustainable tomorrow, embodying the essence of a transformative initiative. Its mission is clear: to contribute decisively to the creation of a thriving blue economy innovation ecosystem, converting innovative concepts into products and services through strategic collaborations. I am glad to say that the centre’s vision extends beyond mere industry growth, as it aims to leverage innovation for sustainable development, job creation and the overall well-being of the citizens of Limassol, and Cyprus.

Today, I’ve had the privilege to hear about connecting innovative products to market from four remarkable companies, each introducing innovative products designed to address the pressing challenges facing the maritime industry.

This showcases the pivotal role of Research and Innovation in reshaping and fortifying the maritime sector. As we navigate the intricate challenges of the modern world, it becomes increasingly evident that embracing Research and Innovation is not merely an option; it is a necessity for sustained growth, resilience, and adaptability of industries, especially those operating in the dynamic sphere of the maritime and blue economy.

As the Chief Scientist of the Republic of Cyprus for Research, Innovation, and Technology and Chairman of the Research and Innovation Foundation, I want to emphasize our commitment for further strengthening the maritime sector, capitalizing on the numerous opportunities and capabilities arising from technological development and innovation.

I assure you that you can count on our steadfast support on shared goal of ensuring a sustainable future for the maritime industry of our country.

Ladies and Gentlemen,

Technology and innovation are critical for maritime growth, generating transformative solutions, fostering knowledge exchange, creating meaningful jobs, and modernizing traditional industries. I can safely say that fostering a sustainable future for the maritime industry is a strategic imperative for this Government.

Our commitment extends beyond a transition to green practices, taking into consideration the resilience and prosperity of maritime enterprises. From leveraging renewable energy solutions tailored to the maritime sector’s needs to implementing innovative technologies for efficient port operations and waste reduction, we focus on fortifying individuals, businesses and ecosystems, assisting them to overcome maritime challenges.

Research, innovation, and digital technologies are key to steering this maritime transition, aligning with the country’s long-term strategy, Cyprus Vision 2035. To this end, the shipping and maritime industry is a Research and Innovation investment priority area in the Cyprus Smart Specialization Strategy 2023-2030. Investing in scientific research and technological advancements, specifically tailored for the maritime industry, is an investment in a robust and sustainable future.

As the driving force of the local ecosystem, RIF provides a much-needed boost through its wide range of funding programs and support services, including the Central Knowledge Transfer Office, supporting the transformation of the maritime industry and maximizing its contribution to the green, blue, and digital transition, focusing on commercialization and internationalization of innovative products and services.

Since 2016, RIF has funded €10.2m in 29 projects in the field of maritime and shipping, through its programs and plans to continue so in the foreseeable future. RIF recently announced a Co-Develop Call for Proposals, with specific thematic objectives to be supported, one of which pertains to shipping. Results are expected to be announced soon and 4 projects related to shipping are expected to be funded. Furthermore, a Proof of Concept Call was announced, with a dedicated budget earmarked for shipping-related projects. Further support for research and development activities comes through the “Sustainable Blue Economy Partnership,” where Cyprus has committed €2m for the 2021-2027 period and participates through RIF. In the 1^st Call 3 projects with Cyprus participation have been selected for funding and the second SBEP Call has just been announced. An essential aspect is the promotion of the internationalization of Cypriot research organizations and enterprises, achieved through active participation in European consortia.

We anticipate these resources will be utilized effectively and to their utmost capacity. Our aspiration is that they will not only bolster the local ecosystem’s innovation capabilities but also prove vital for the enhancement of its competitiveness in a dynamic global landscape. This, in turn, will maximize the economic and social advantages contributing to the sustainable development of Cyprus.

Ladies and Gentlemen,

The very essence of this Info Day revolves around the recognition that the connection between innovative products and the market is not a solitary act but a continuum fuelled by a culture of constant exploration and improvement. As we stand at the intersection of knowledge and industry, it is crucial to acknowledge that Research and Innovation are the driving forces propelling us forward.

The maritime industry, with its vast expanse and intricate challenges, requires forward-thinking solutions. By fostering a culture of curiosity and embracing emerging technologies, we create a fertile ground for innovative products to address existing challenges, as well as foresee and mitigate future risks. The synergy between Research and Innovation and the maritime sector is all about resolving issues and staying ahead of the curve, steering confidently into a future where challenges are met with ingenious solutions.

The importance of Research and Innovation becomes even more apparent when we consider the modern challenges that transcend the boundaries of industry. Climate change, sustainability, and the need for eco-friendly practices are humanity’s life and death issues that demand our immediate attention. The maritime and blue economy, being inherently linked to environmental concerns, necessitates a paradigm shift in our approach, and this is where Research and Innovation emerge as the ultimate architects of a more sustainable and responsible industry.

The four companies presented today exemplify this nexus.

InoMob’s production and supply of net-zero emissions renewable natural gas within the borders of Cyprus showcase how embracing sustainable energy practices can be a direct outcome of innovative research.
Marinehound’s continuous emission monitoring system for ships not only assists the industry in adhering to environmental standards but also empowers regulators, demonstrating the interconnectedness between technological advancements and regulatory compliance.
Solumar’s commitment to environmental responsibility through air & gas filtering technologies, inspired by the aeronautics industry, underscores that Research and Innovation not only reduce emissions but do so in a cost-efficient manner.
Embio Diagnostics, with their pioneering products monitoring water and air quality, highlights how real-time data from innovative research can be instrumental in proactively addressing environmental concerns.

Dear participants and esteemed guests,

The importance of Research and Innovation in the maritime and blue economy cannot be overstated. They are the sails that propel the industry forward, navigating through the winds of change, and steering towards a future that is resilient and sustainable. This Info Day serves as a testament to the power of Research and Innovation, where innovative products are instruments of positive change.

As we embrace the connection between innovation and the market, let us remember that it is fuelled by the relentless pursuit of knowledge, a commitment to pushing boundaries, and a collective vision for a maritime and blue economy that thrives in harmony with our planet.

Thank you for being part of this transformative journey.