Source: CNA
Cyprus is once more placed among the EU's strong innovators for a second year in a row, according to the annual EU innovation scoreboard, marking a significantly faster performance than the EU average.
According to a press release issued by the Research and Innovation Foundation (IDEK), Cyprus’ strengths include linkages between innovative SMEs collaborating with others, a sector in which Cyprus marked the highest EU-wide performance, attractive research systems and strong innovation in product development and business process innovators. The report also cites a high employment rate in knowledge-intensive activities.
Theodoros Loukaides, General Director of IDEK, expressed his satisfaction with the results and congratulated all stakeholders of the local research and innovation ecosystem.
“Success such as this builds Cyprus’ name as a regional R&D hub opening new horizons,” he said, adding that this achievement is the result of the standing effort of the R&D ecosystem and the state’s investment in IDEK.
“Our targeted investments are bearing fruit,” he said, noting that apart from new jobs in cutting-edge sectors and product exports, “we are diversifying the economy mix and strengthening its competitiveness and resilience.”
