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Chief Scientist’s Roadmap To Make Cyprus A Regional Research And Innovation Hub by 2035

In a bold vision for Cyprus, Chief Scientist Demetris Skourides presented a comprehensive roadmap to establish Cyprus as a regional hub for research, innovation, and technology by 2035. The strategy, developed through extensive consultation with over 650 stakeholders, aims to streamline processes, enhance transparency, and improve the overall research and innovation ecosystem.

Key initiatives include the introduction of a new grants management system by 2025 to reduce administrative burdens and promote scientific work and commercialization. The roadmap also emphasises the importance of public-private partnerships, with recent programs increasing collaboration between research organisations and industry.

Cyprus has maintained its 10th position in the European Innovation Scoreboard for three consecutive years, reflecting the country’s growing innovation capacity. This is supported by significant funding increases, with €177.25 million allocated for competitive funding between 2021-2027, a 34% rise from the previous period.

Public universities and research institutes have been pivotal in securing prestigious European Research Council grants, showcasing Cyprus’ research excellence. Notably, improvements in the operations of the Research and Innovation Foundation have significantly reduced the average time to pay and contract processing times.

Furthermore, the strategy includes targeted funding for research excellence, collaboration, innovation, and infrastructure. Specific focus areas include ICT, green transition, energy, shipping, agrifood, health, advanced materials, and environment.

Skourides also highlighted the importance of international collaborations, citing recent engagements with Japanese and international organisations to foster global partnerships. The roadmap sets a clear path for Cyprus to enhance its research and innovation landscape, positioning the country as a leader in the region by 2035.

Bitcoin Surges 23% In A Week As Investor Optimism Returns

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.

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