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Cyprus Unveils Ambitious Plan To Become A Regional Research And Innovation Hub By 2035

by THEFUTURE.TEAM

July 23, 2024

In a bold move to position itself as a leader in research and innovation (R&I), Cyprus has unveiled a comprehensive strategy aimed at transforming the nation into a regional hub by 2035. Presented by Chief Scientist Demetris Skourides at the Cyprus Rectors’ Conference, the strategy outlines a robust roadmap designed to elevate the country’s R&I ecosystem.

The roadmap, developed after extensive consultations with over 650 stakeholders including research organisations, startups, and established enterprises, is built on simplifying processes, enhancing customer experience, and ensuring transparency. Key initiatives include the introduction of a new grants management system by 2025, aimed at reducing administrative burdens and allowing researchers to focus on their scientific and commercial pursuits.

Cyprus has already made significant strides in innovation, maintaining its 10th position on the European Innovation Scoreboard for three consecutive years. Public universities and institutions, such as the University of Cyprus and the Cyprus Institute, have been instrumental in securing prestigious European Research Council (ERC) grants. This success is underscored by 18 ERC awards and notable advanced grants achieved by leading researchers.

Government commitment to R&I is evident with a substantial increase in competitive funding for 2021-2027, rising to €177.25 million—a 34% increase from the previous period. This funding is allocated across various sectors: 23% for research, 27% for collaboration and knowledge transfer, 21% for innovation, 15% for internationalisation, and 14% for infrastructure and skills.

Operational improvements at the Research and Innovation Foundation have drastically reduced the average time to pay from 275 days in 2019 to 61 days in 2023, and the average time to contract from 21 months to seven months in the same period. These improvements are part of a broader effort to enhance customer experience and ensure high-impact funding programmes.

A significant focus of the new strategy is bridging the gap between industry and research. Initiatives like Partner Innovation Day facilitate collaboration and knowledge transfer among research organisations, startups, and technology innovators. This collaborative approach is expected to support over 550 researchers and drive further advancements in thematic areas such as ICT, green transition, energy, and health.

Furthermore, Cyprus is fostering international collaborations, with recent engagements involving Japan’s Ambassador and the President of Japan Science and Technology Agency. These partnerships are aimed at expanding Cyprus’ global R&I footprint.

Chief Scientist Skourides emphasised the importance of competitive funding in sustaining the nation’s R&I momentum. With €22.1 million allocated for various funding calls in 2024 and an additional €4.1 million for post-doc and PhD programmes in 2025, Cyprus is well on its way to realising its vision of becoming a leading regional R&I hub.

New Decrees For Blue Card And Foreign Students: Key Changes And Implications

by THEFUTURE.TEAM

December 20, 2024

The Ministry of Labor and Social Insurance has announced a series of new measures aimed at addressing the increasing demands of Cyprus’ labor market. These initiatives are designed to attract highly skilled professionals from third countries and broaden employment opportunities for foreign students in select fields, as outlined in the recent Decrees published in the Official Gazette of the Republic.

Attracting Skilled Professionals

One of the key updates is the introduction of a minimum annual salary for foreign professionals, which has been set at €43,632, 1.5 times the average gross annual salary in Cyprus. This salary threshold applies to individuals coming to work in sectors such as Information and Communication Technologies (ICT), pharmaceuticals for research purposes, and maritime industries (excluding skippers and crew).

Expanded Employment Options For Foreign Students

The new regulations also provide an update on the employment rights of foreign students. From December 2024, students from third countries will be able to work in Cyprus, with the new rules replacing the previous March 2024 start date.

Students studying ICT who have completed their first academic semester will be eligible to work in occupations related to their field of study, thereby gaining practical experience while pursuing their education.

In response to critical sector shortages, the regulations also clarify the specific occupations and salaries that Blue Card holders—third-country nationals—will be eligible for in Cyprus. The Blue Card, in line with the European Directive, allows highly skilled professionals to live and work in EU member states.

Strengthening The Labor Market and Economy

These updates are expected to bolster the supply of specialized workers in key sectors, addressing existing gaps and promoting the continued growth of Cyprus’ economy. At the same time, the new measures offer foreign students enhanced opportunities for professional development, facilitating their seamless integration into the country’s workforce.