Cyprus seen among EU’s innovators

Cyprus seen among EU’s innovators

Cyprus has again been placed among the EU’s strongest innovators, for a second year in a row, according to the annual European Union 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 Loukaidis, 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,” Loukaidis said. He went on to note that apart from new jobs in cutting-edge sectors and product exports, “we are diversifying the economy mix and strengthening its competitiveness and resilience.”

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