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EU Increases Investment in Deep Tech to Compete with Global Tech Leaders

by THEFUTURE.TEAM

November 5, 2024

In a strategic move to stay competitive in the global tech landscape, the European Union (EU) is set to invest €1.4 billion ($1.5 billion) in deep tech research in 2025. This significant funding boost will come from the European Innovation Council (EIC) as part of Horizon Europe, the EU’s flagship research and innovation program.

This marks a notable increase of €200 million compared to the previous year’s budget, underlining the EU’s commitment to strengthening its tech capabilities. With this investment, European policymakers aim to narrow the gap with technological heavyweights like the United States and China.

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The deep tech sector, which encompasses advanced fields like artificial intelligence (AI), quantum computing, and biotechnology, has been identified as essential for Europe’s economic revitalization. “The European Innovation Council has emerged as a game-changer in EU support to breakthrough innovation,” stated EU Commissioner Iliana Ivanova. She highlighted the council’s expanded role in channelling resources toward pioneering advancements in technology that could shape the future of Europe’s economy.

As the global tech race accelerates, the EU’s increased funding for deep tech initiatives reflects its resolve to position Europe as a leading hub for innovation and technological progress.

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Christodoulides Ventures to London: Repatriating Cypriot Talent

by News Editor

May 20, 2025

Launch of the ‘Minds in Cyprus’ Initiative

President Nicos Christodoulides is on a mission to London to spearhead the ‘Minds in Cyprus’ initiative, which aims to bring talented Cypriots back to their home turf.

Strategic Initiative for a Knowledge-Driven Economy

As Government Spokesperson Konstantinos Letymbiotis highlighted, this critical initiative aligns with Cyprus’s strategic transition toward a knowledge economy, leveraging the expertise and skills of its diaspora.

Growing Enthusiasm Among Young Cypriots

The event, co-hosted by the Presidency, Invest Cyprus, and KEVE, has already garnered interest from over 750 UK-based Cypriots, including scientists and professionals keen on returning to their roots.

Showcasing Opportunities in Cyprus

Participation from senior executives of 20 major Cypriot companies and centers of excellence illustrates a firm belief in Cyprus’s growing sectors of innovation, entrepreneurship, and research. This highlights the island’s readiness to invest in creativity and skills.

Comprehensive Action Plan by the President

The President is set to unveil a holistic Action Plan for Talent Repatriation, crafted through a unified strategy by relevant ministries. This plan focuses on employment, innovation, tax incentives, education, and family integration, making it easier for Cypriots abroad to bring their promising careers back home.

The Road Ahead

The event includes thematic roundtable discussions and an open dialogue, marking the beginning of a collective effort to transform brain drain into a journey of opportunities and growth for Cyprus.

Union for a Brighter Future

Christodoulides, accompanied by various high-ranking officials, embodies the national drive to reunite Cyprus with its brightest minds, steering the nation towards a prosperous and innovative future.