Cyprus Expands RESTART Research Funding With Cybersecurity Measures

Cyprus has widened its support for research and innovation with an expanded version of the Restart 2016–2020 programmes, adding fresh funding capacity and a new cybersecurity-focused initiative designed to accelerate the commercialisation of innovative products and services.

Expanded Scheme Approved Under Existing State Aid Framework

State Aid Control Commissioner Stella Michaelidou has approved amendments to the measure titled “Restart 2016–2020 Programmes for Research, Technological Development and Innovation of the Research and Innovation Foundation”, allowing the continuation of the scheme under revised terms. The programme had already been deemed compatible with state aid rules under Decision No. 471, issued on July 18, 2025.

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The updated framework reflects both a broader scope and a modest increase in the approved budget, underscoring Cyprus’ continuing effort to strengthen its innovation ecosystem and improve the country’s capacity to support applied research and new technology development.

New Cybersecurity Programme Targets Fast-Track Innovation

The most notable addition is the Fast Track Innovation (FTI) programme, which will support the rapid development of innovative products and services in the cybersecurity sector. The initiative is aimed at established businesses across all sectors that are investing in the fast delivery of internationally competitive solutions.

In practical terms, the new programme gives Cyprus a more targeted tool for backing high-potential innovation where speed to market can be decisive, particularly in a field such as cybersecurity, where demand is rising, and competitive advantage often depends on rapid execution.

Budget Increases To €308.4 Million

According to the Office of the State Aid Control Commissioner, the scheme’s approved budget has been increased from €306.9 million to €308.4 million. The expansion follows the earlier approval under Decision No. 471 and reflects the widening of the programme’s scope.

The revised measure also includes updated standard cost scales for staff remuneration and extends the deadline for funding decisions under the scheme to June 30, 2027.

Broad Eligibility Across The Innovation Ecosystem

The Restart scheme remains open to a wide range of beneficiaries, including research organisations, higher education institutions, scientific and professional bodies, businesses, business associations, non-governmental organisations, public services and public utility organisations.

Individuals such as academics, scientists, researchers, technical personnel, students and pupils may also take part in relevant programmes supported under the measure, broadening the pipeline of participation across Cyprus’ research and innovation landscape.

Strategic Push For Innovation Capacity

The State Aid Control Commissioner’s office said the measure was approved following a decision by the Board of Directors of the Research and Innovation Foundation and the issuance of the relevant state aid decision. Decision No. 488 was published in the Official Gazette of the Republic on July 10, 2026, and has also been made available on the commissioner’s website.

The revised Restart programme comes as Cyprus continues to invest in research, technological development and innovation as core drivers of long-term competitiveness. By increasing support for businesses, researchers and institutions developing new products, services and technologies, the government is signalling that innovation remains a strategic economic priority.

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Retail’s AI Push Faces A Cybersecurity And Regulatory Reality Check

by THEFUTURE.TEAM

October 19, 2026

Artificial intelligence is becoming a strategic priority for retailers, with 80% of retail leaders planning to increase investment in the technology, according to EY’s latest CEO Outlook Survey. However, growing concerns over cybersecurity, customer privacy and regulation could complicate adoption across an industry already facing inflation, geopolitical uncertainty and changing consumer expectations.

Confidence In AI Comes With Risks

The survey found that 80% of retail leaders are confident in their ability to expand the responsible use of AI and customer data. Retailers are increasingly applying the technology to demand forecasting, inventory management, customer service and personalised marketing, seeking to improve efficiency and respond more quickly to market changes.

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Yet adoption brings new vulnerabilities. EY found that 24% of retail leaders identified cybersecurity and data privacy as a leading business risk for the year ahead. Retailers manage sensitive customer information, payment systems and complex supply chains, making effective security and governance essential as AI becomes more deeply embedded in their operations.

The World Economic Forum’s Global Cybersecurity Outlook 2026 highlights the wider challenge: 87% of organisations reported rising cyber risks linked to AI vulnerabilities, while 94% expected malicious AI to have a significant impact on cybersecurity in 2026.

Regulation Will Shape AI Adoption

Regulatory frameworks are also influencing how quickly retailers can expand their use of AI. The European Union’s AI Act, China’s state-led governance model and measures introduced by individual US states are shaping the rules around the technology.

For retailers, compliance is becoming a strategic consideration, particularly for customer-facing applications that use personal data to personalise offers, automate interactions or analyse consumer behaviour. Regulatory missteps could carry significant costs in a sector where customer trust is critical.

EY Outlines Four Possible Futures

EY recommends that retailers plan for multiple outcomes rather than assume the current investment boom will continue uninterrupted. Its analysis draws on a four-scenario framework developed by Jim Dator of the University of Hawaii.

One scenario envisages constrained AI adoption as economic pressures, regulation, cyberattacks, legacy systems and poor data quality limit progress. Retailers in this environment may prioritise lower-risk back-office applications, such as finance, procurement, inventory and logistics, while customer-facing tools face resistance.

A second scenario anticipates continued growth, with sustained investment and widespread adoption. A third envisages deeper economic and social transformation as technology reshapes business operations. The fourth considers systemic breakdown, in which a small number of technology platforms control access to AI models and charge premium prices, potentially making advanced capabilities less accessible even to large retailers.

Governance Will Determine Competitive Advantage

EY’s findings suggest that investment alone will not determine which retailers benefit most from AI. Companies will also need robust cybersecurity, effective governance and strategies that can adapt to different economic, technological and regulatory conditions.

For a sector operating on tight margins, the challenge is to turn AI investment into lasting business value while managing the risks that come with greater dependence on the technology.

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