Speech by Chief Scientist for Research, Innovation and Technology, Demetris SkouridesReflect Festival 2023 | 20th September 2023

Dear participants, speakers and guests,
Ladies and Gentlemen,

Good morning. It is a great pleasure to be with you today at Reflect, a truly unique festival connecting policymakers, tech pioneers, entrepreneurs, thinkers and innovators from all around the world. I would like to start by congratulating the organizers for this impact-oriented initiative, and wish all doers with us today a productive 2-day experience.

As the new Chief Scientist for Research, Innovation and Technology of the Republic of Cyprus and Chairman of the Research and Innovation Foundation, I would like to assure you that we share a common vision and you will always have our unwavering support. The role of technology and innovation in accelerating growth cannot be understated: both pillars have the potential to develop transformative innovations in response to real world needs, facilitate knowledge spillovers and drive business specialization, create new and more meaningful jobs, as well as modernize and build synergies with the strongest traditional industries.

Ladies and Gentlemen,

Today, we take yet another step forward, towards a brighter future! Despite its small size, Cyprus has witnessed a rapid evolution in Research, Innovation and Digital Transformation over the past decade. Our country is home to world-class academic and research centres, and an emerging innovation system. It also hosts a strong ICT cluster. To name but a few, Cyprus has Twelve universities, seven centres of excellence, a number of private and public research institutes as well as a dynamic community of over 400 startups and innovative businesses, 2500 researchers 4000 entrepreneurially minded individuals and over 130 tech companies form a launchpad for further growth in a more digitally enabled country. Been ranked as a Strong Innovator for the second consecutive year in the 2023 European Innovation Scoreboard bears testament to the progress achieved and the potential ahead.

As part of the Government’s agenda, we are pursuing a comprehensive strategy aimed at enhancing and strengthening our ICT and innovation ecosystem. This strategy encompasses several key areas, including:, a holistic digital transformation focusing on eGovernment, infrastructures and connectivity, emerging technologies and digital skills, various funding tools and schemes to support digital transformation of businesses, commercialization of academic research and entrepreneurial activity, measures to facilitate access to cutting edge research and development infrastructure and facilities, and -of course- conducive institutional and regulatory framework conditions.

Cyprus exerts great importance to Research and Innovation. The additive value lies in the ability to boost competitiveness, economic growth and contributing to a better quality of life for our citizens. Cyprus, despite its size and age in the field of innovation, has become home to many success stories, scientific breakthroughs and entrepreneurial pursuits.  This is a country that has more than 417 Patent Applications in WIPO, has 3 times the absorption of EU R&I funds from the EU funding programme of 2014-2020. Startups and scaleups here have managed in 2022 alone to raise 130M Euros of VC money and have their products and services in the international markets.

We have made great strides in improving our attractiveness of our ecosystem however we recognize that there are cross-market synergies and opportunities that can help us growth this even more. Amongst some of our strategic priorities are:

  • Strengthening collaborations between the stakeholders of the ecosystem
  • Commercializing the good research results generated in our country
  • Enhancing our international competitiveness through innovative entrepreneurship and innovative solutions.
  • To play an active role as a participant in the Digital Transformation agenda to support the Government’s agenda.

As our ambition is to strengthen our posture as a regional research, technology and innovation hub we are continuously focusing on creating cross-collaboration synergies bringing together our research and innovation ecosystem closer to our tech communities to accelerate and advance progress.

In our quest to build sustainable growth and support the ecosystem’s effort our Government is leading by example, putting forward a series of reforms and investments, in the context of the National Recovery and Resilience Plan and the long-term strategy of “Vision 2035”. 

In cooperation with all stakeholders, we focus on creating a robust and fit-for-the-future ecosystem, that will become a major contributor to the country’s GDP. An ecosystem that will spearhead the effort to create a modern and competitive economy, to the benefit of the environment, society and future generations.

The Research and Innovation Foundation is a key asset in this journey. As Cyprus’ national agency responsible for the support and promotion of research, technological development and innovation, we empower our ecosystem to unlock its full potential, through a rich portfolio of funding programs and high-quality support services, which you will hear a lot more about later on in the day.

Ladies and Gentlemen, 

Cyprus has taken major steps towards its transformation into an innovation hub and a regional business and tech centre, while boosting its position in the global market. Capitalizing on the talent of our research, tech and innovation community, the solid partnerships we have formed, and the Government’s clear vision and determination, I am positive that now is the time for all of you to join us as we step into our next phase into the future.

Closing, I would like to send a message to all of you other there who are aspiring to make a change, transform and pursue and impact the future: We are here to support you on your quest, stand-by your side as you navigate through the ambidextrous complexities that entrepreneurship, startups, research and innovation may present you. We are here as a partner to help you further advance research, innovation, technology, which stand as a foundation for the future of our country.

Thank you.