Insider Economy Cyprus 21st out of EU-28 for share of innovative enterprises

Cyprus 21st out of EU-28 for share of innovative enterprises

Cyprus was ranked 21st in the EU for its share of enterprises with innovation activity during the period 2014-2016, according to a Eurostat report.

Between 2014-2016, 36% of Cypriot enterprises reported innovation activity, Eurostat found.

The only countries with a lower share than Cyprus was Romania (28th), Poland (27th), Bulgaria (26th), Hungary (25th), Latvia (24th), Slovakia (23rd) and Malta (22nd).

Highest proportions of innovative enterprises in Belgium, Portugal, Finland, Luxembourg and Germany

During the period 2014-2016, the highest proportions of enterprises with innovation activity were recorded in Belgium (68 % of enterprises), Portugal (67 %), Finland (65 %), Luxembourg (64 %) and Germany (64 %). In the same period, the share was below 30% in Romania (10 %), Poland (22 %), Bulgaria (27 %) and Hungary (29 %).

In a nutshell, in the European Union (EU) around half (51 %) of the enterprises of 10 employees or more reported innovation activity during the period 2014-2016, slightly more than in the period 2012-2014 (49 %). The share of innovative enterprises increased or stayed the same in 20 EU Member States and decreased in eight. Particularly strong increases were reported for Estonia, Portugal, Finland and Croatia. With increases from 54 % to 67 % in Portugal and from 55 % to 65 % in Finland these two countries are now amongst the top five countries.

Cyprus Innovation Award

The Cyprus Employers & Industrialists Federation (ΟΕΒ) organises the annual Cyprus Innovation Award.

  • Winner of the Innovation Award 2018 in the Primary Sector was Paradisiotis Ltd, for the successful innovative installation of stable and controlled heating system CUBORA in two automated poultry farming plants.
  • Winner of the Innovation Award 2018 in the Manufacturing Sector was Muskita Aluminium Industries Ltd for the implementation of the pioneer minimalist aluminum system for sliding doors and windows THEA Minimal Aluminium Frames.
  • Winner of the Innovation Award 2018 in the Services Sector was Odyssey Consultants Ltd for the design of the Data Management and Security Platform ClearSkies Big Data Analytics.
  • Winner of the Innovation Award 2018 in Public Sector was the Department of Lands and Surveys, Ministry of Interior for the design of the pioneer Online Electronic Services Platform known as «DLS PORTAL».

OEB Cyprus Innovation Awards – 2018

For more information by different enterprise characteristics:

  • Eurostat database on science and technology statistics

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