Cyprus has taken a step to strengthen its role as a regional innovation hub with the signing of a Memorandum of Understanding (MoU) between the Office of the Chief Scientist, the Research and Innovation Foundation (RIF) and Invest Cyprus.
Chief Scientist Demetris Skourides, who also chairs the RIF board, and Invest Cyprus CEO Marios Tannousis signed the agreement in Nicosia, aiming to accelerate innovation-led economic growth and attract foreign direct investment in research, technology and innovation.
The MoU formalises cooperation between the three organisations following a year of joint initiatives. It sets out a framework to promote Cyprus internationally as a destination for technology, research and R&D investment while supporting Cypriot companies to expand globally.
Under the agreement, the organisations will coordinate investor support, facilitate introductions between foreign and domestic companies, and advocate reforms to enhance Cyprus’s regulatory, business and infrastructure environment.
“This MoU reflects our shared commitment to transform Cyprus into a magnet for innovation-driven investment,” said Chief Scientist Skourides. “By joining forces with Invest Cyprus, we are amplifying our international outreach and building a stronger bridge between global investors, entrepreneurs and Cyprus’s thriving innovation ecosystem.”
Tannousis added: “Cyprus is uniquely positioned as a gateway to Europe, the Middle East and beyond. Through this partnership, we are enabling high-impact collaborations and creating the right conditions for innovative companies to invest, grow and succeed.”
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