Cypriot delegation promotes innovation ties with India

Chief Scientist Demetris Skourides recently visited India to participate in an event organised by Invest Cyprus, according to an announcement released this week.

The event, which took place on September 5, aimed to promote Cyprus as an emerging technology and innovation hub, encouraging investment between Cyprus and Europe.

According to the announcement, Skourides was joined by a Cypriot delegation that included Deputy Minister of Research, Innovation, and Digital Policy, Nicodemos Damianou, and High Commissioner of Cyprus to India, Evagoras Vryonides.  

Also in attendance were the CEO of Invest Cyprus, Marios Tannousis, alongside executives from PwC, Chrysilios Pelekanos, and Eurobank, Panayiotis Chrystostomou, as well as numerous Indian entrepreneurs and potential investors. 

The event provided a valuable opportunity to showcase Cyprus’ expanding research, technology, and innovation ecosystem, along with the various incentives designed to attract investment and talent to the country.  

Skourides highlighted Cyprus’ concerted efforts to position itself as a hub for research, innovation, and international entrepreneurship. 

The Chief Scientist went on to highlight Cyprus’ exceptional levels of scientific excellence, which are supported by its robust research potential and outstanding performance at both the national and European levels.  

In order to illustrate this, Skourides referenced key performance indicators and drew attention to the Centres of Excellence in Cyprus, which were developed with co-funding from the European Commission. These centres, he noted, offer world-class services and play a vital role in advancing the country’s innovative ecosystem.  

Moreover, the event emphasised the opportunities for internationalising these services through new collaborations and investments, particularly from India.  

During his presentation to more than 30 stakeholders, Skourides provided a comprehensive briefing on the mutual benefits of Cyprus-India cooperation. He outlined the available tax incentives as well as the funding programmes offered by the Research and Innovation Foundation (RIF).  

Additionally, he highlighted the significant advantages of accessing the single European market through Cyprus. 

Skourides also identified specific opportunities for collaboration in sectors prioritised by Cyprus’ Smart Specialisation Strategy and the Research and Innovation Strategy 2024, including Fintech, Reg-tech, Health-tech, Agrofood, and ICT.  

Following his engagements in India, Skourides travelled to Paris, where he participated in the “Chief Science Advisors Roundtable 2024” (CSAR 2024), hosted by UNESCO and the Office of the Principal Scientific Adviser to the Government of India.  

The event focused on “Fostering open science, bridging knowledge asymmetry, and building science advisory capacity globally.” 

Simultaneously, the RIF Director General, Theodoros Loukaidis, travelled to New Delhi for the CII India-Mediterranean Business Conclave.  

Organised by India’s Ministry of Foreign Affairs and the Confederation of Indian Industry (CII), this one-day event saw participation from representatives of 28 countries. Nicodemus Damianou, Cyprus’ Minister for Research, Innovation, and Digital Policy led the Cypriot delegation.  

Notable Indian public figures, including the Minister of Commerce and Industry, Piyush Goyal, and the Minister of Foreign Affairs, Subrahmanyam Jaishankar, were also present. 

Loukaidis participated in a panel discussion on “Maritime Cooperation and Blue Economy: connecting shores and harnessing coastal potential.”

In that context, he showcased Cyprus’ capabilities in research and innovation within the maritime sector, which is a key focus of the National Research and Innovation Strategy 2024.

Furthermore, he discussed opportunities for international cooperation, particularly in the areas of digitalisation and the green maritime transition.  

In his presentation, Loukaidis provided examples of successful Research and Innovation projects carried out by Cypriot research organisations and companies, both within the framework of the Foundation’s and the European Commission’s funding programmes.  

In addition to this, Loukaidis attended a roundtable meeting with potential investors and entrepreneurs from India, where he presented the strengths of Cyprus’ research and development ecosystem, particularly in the fields of artificial intelligence and technology.  

He stressed the opportunities for collaboration between Cyprus and India, further reinforcing the idea that Cyprus is well-positioned to foster international partnerships in innovative sectors, ultimately cementing its role as a global innovation hub.