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Chief Scientist Advocates Transformative Leadership To Close The Gender Gap

by THEFUTURE.TEAM

Empowering Change At The Women Who Built Europe Summit

Cyprus presented its approach to inclusive innovation at the Women Who Built Europe summit in Brussels, highlighting the work of 35 women from government, business and technology. Chief Scientist Demetris Skourides said closing the gender gap in research and innovation requires a shift in how leadership is approached, with a stronger focus on inclusion.

Structural And Cultural Shifts For Inclusive Growth

Speaking during a fireside chat at the Council of the European Union, Skourides said progress depends on both policy changes and broader cultural shifts. He pointed to the importance of collaboration across teams and sectors, noting that changing perceptions is as important as introducing new measures.

Policy Initiatives And Notable Achievements

Skourides outlined several initiatives led by the Research and Innovation Foundation (RIF) to support women in science and research. Between 2023 and 2025, the foundation launched 90 calls for proposals with a total budget of €100 million. These programmes created 739 jobs in research and innovation, including 209 roles filled by women. Female participation in leadership has also increased. Women led 61.16% of submitted proposals, while 76.4% of funded projects were coordinated by women.

Reinforcing Cyprus’ Role In STEM And Global Innovation

Cyprus’ national agenda reflects a strategic commitment to gender equality across all sectors. Women now represent 42.3% of participants in science, engineering, and STEM, 29.3% in ICT, and 37% of the cabinet, bolstered by initiatives such as Women for Tech and Women for Cyber. The summit also drew influential voices, including European Parliament member Tsvetelina Penkova and EU Female Founders president Monika Stanisheva, exemplifying the robust network of female leadership.

Historical Impact And A Vision For The Future

Skourides placed Cyprus’ advancements in a broader historical context, recalling over two centuries of female influence in shaping technological fields from programming languages to quantum technologies. He invoked the legacies of pioneers such as Ada Lovelace and Parisa Tabriz to illustrate the enduring impact of women in technology. Additionally, he addressed the performance-funding paradox by referencing research that demonstrates up to a 35% higher return on investment for companies led by women, further substantiated by leadership traits observed in Fortune 500 firms.

Leading By Example At Home And Abroad

The Cypriot delegation highlighted 35 women across different sectors, including public service, technology and healthcare. Their work reflects a broader shift toward more inclusive leadership and serves as a reference point for future initiatives.

Call To Action For A Future Of Inclusive Leadership

Skourides said progress will depend on strengthening networks, sharing experience and building partnerships at an international level. He encouraged women to take on leadership roles and contribute actively to shaping the future of innovation.

Cyprus Proposes New Credit Scoring System And Data Sharing Reform

by THEFUTURE.TEAM

Cyprus Ministry of Finance has submitted a package of seven amendment bills aimed at restructuring how credit data is shared and introducing a unified credit rating system for individuals and businesses. Proposals are currently under review by the Parliamentary Committee on Finance.

Unified Credit Data Exchange Framework

Reform is part of a broader effort to modernise financial infrastructure and improve data exchange between credit institutions. Changes cover key areas including banking operations, consumer credit, mortgage agreements, credit management, finance leases and the sale of credit facilities. This initiative is also linked to the Recovery and Resilience Plan, aligning financial sector reforms with wider economic policy.

Advanced Credit Rating Mechanism

A central element of the proposal is the creation of a single credit score for borrowers. The system will use financial data from the past 24 to 36 months to assess the likelihood of default over the following 12 months. This approach is expected to improve lending decisions and support a gradual reduction in non-performing loans.

Empowering Regulatory Oversight And Data Security

Oversight will be assigned to the Central Bank, which will set operational rules, monitor compliance and impose penalties where needed. The framework also includes provisions on data protection and banking confidentiality, developed in coordination with the Office of the Commissioner for Personal Data Protection.

Structured Data Submission And Access Controls

Proposed legislation defines which entities must submit data and which can access it, introducing a tiered system based on operational needs. Participants will include banks, credit management companies and finance lease providers, all operating under defined conditions.

Reforms aim to simplify existing regulations and reduce overlaps between current laws, as Cyprus moves to modernise its credit system. Lawmakers are expected to review the package ahead of a vote before Parliament dissolves ahead of elections.

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