February 2021

Stepped-up cooperation between Cyprus and Israel in the fields of innovation and entrepreneurship

With the aim of expanding and further strengthening cooperation between Cyprus and Israel in the fields of innovation and entrepreneurship, the Chief Scientist for Research and Innovation of the Republic of Cyprus and the Research and Innovation Foundation, in collaboration with Mashav - Israel's International Development Cooperation, the Golda Meir MASHAV - Carmel International Training Center (MCTC) and the Finance Department of the Israeli Ministry of Foreign Affairs in coordination with the Embassy of Israel in Cyprus, are organizing a series of online lectures entitled: "Educating Trainers: Innovation & Entrepreneurship for Cyprus", providing stakeholders with a unique opportunity to gain a holistic picture of Israel's experience in creating a successful innovation and entrepreneurship ecosystem.

The program includes six online lectures by distinguished Israeli speakers on topics related to the development of innovation support structures, such as accelerators / incubators, technology parks and technology transfer services, attracting investment in innovative businesses, and developing and implementing innovative measures to promote innovation. The opening ceremony was greeted by the Deputy Minister of Research, Innovation and Digital Policy Kyriakos Kokkinos and the Israeli Ambassador to Cyprus, Shmuel Revel. Mr. Kokkinos thanked Israel for its consistent support, at all levels, and especially for this extremely important initiative that reflects the neighboring country's commitment to share its knowledge and experience to inspire and support other countries. such as Cyprus, in their efforts to develop their entrepreneurial spirit and technological capabilities.

Mr. Kokkinos said, "innovation and technology are key drivers of sustainable development, as well as powerful tools for tackling key global challenges, such as the Covid-19 pandemic, and more." Ambassador Revel, for his part, noted that "in recent years, the growing synergies between Israel and Cyprus have brought the two countries even closer in the field of Technological Innovation. The action plan that we are preparing together with the Deputy Minister of Research, Innovation and Digital Policy, Kyriakos Kokkinos, and with the Chief Scientist of Cyprus, is strengthened by the Israeli education for those active in the Cypriot innovation ecosystem. I thank the Israeli Foreign Ministry and all those who worked to make this initiative a reality. This human bridge is an important contribution to our close friendships and our future."

Chief Scientist for Research and Innovation and President of the Cyprus Research and Innovation Foundation Dr. Nikolas Mastrogiannopoulos stressed that to strengthen the competitiveness of Cyprus on the international stage, it is necessary to create a dynamic ecosystem of start-ups and innovative businesses. characterized by efficiency and flexibility and easy access to the various support services, one that would generate added value on a horizontal basis, in all sectors of the economy, and create opportunities for new jobs and wider socio-economic prosperity. " Dr. Mastrogiannopoulos also said that this program creates solid foundations for further development of long-term cooperation between the two countries, adding that Cyprus has much to learn from Israel on innovative entrepreneurship to further develop its own ecosystem. "Together we are just smart, together we are creative, together we build a better future." 

Theodoros Loukaidis, General Manager of the Cyprus Research and Innovation Foundation, referred to the investment of €20 million in 85 innovative companies, which was granted through the financing programs of the Foundation. "Our biggest challenge," he said, "is to ensure that the innovative products and services of these companies succeed in penetrating the international market and attracting investment from abroad, with our support, of course, and the support of the various research and innovation bodies ".Thanking Israel once again, he added: "Given the remarkable success of the State of Israel in this area, we look forward to hearing more about the Israeli research and innovation and start-up ecosystem and many other interesting topics."

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