Insider Economy Deputy Ministry for Research and Innovation on its way

Deputy Ministry for Research and Innovation on its way

The 2019-2023 National Strategic Framework on Research and Innovation consisting of nine pillars were presented at an event last night in the presence of Cyprus President Nicos Anastasiades.

The President sent the message that Cyprus aims to become a dynamic and competitive economy with research, scientific excellence, innovation, technological development and entrepreneurship. And that it can become a regional centre in these key sectors.

Anastasiades also said that the Mediterranean island’s budget for research and innovation will be doubled and reiterated the government’s intention for a deputy ministry for research and innovation to be established soon.

The relevant bill will be soon submitted before the Cabinet and then to the House of Representatives, he added.

The President also announced that, within days, the government will provide €60 million to co-fund the establishment of four new research centres of excellence.

And that three new schemes will be announced by the Research and Innovation Foundation to finance the establishment of new start-ups as well as existing ones and support companies that would like to expand their activities and introduce new innovative products and services.

Chairman of the National Council on Research and Innovation, Philippos Patsalis, said the National Strategic Framework is a tool for the necessary implementation of reforms on research and innovation in Cyprus.

And that one of its goals is the operation of a unified, coherent and organised national system for research and innovation, the development of an integrated strategy as well as a sustainable system of academic and research excellence.

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