Home / Business / Investing in Cyprus / Research and Development

Research and Development

Acknowledging the importance of research, development, and innovation, Cyprus is strongly committed in enhancing the island’s scientific basis.

The Research Promotion Foundation of Cyprus (www.research.org.cy) has funded over €25 million worth of research projects and supporting activities.

And the budget is expected to grow in the coming years according to the following five strategic categories:

* Strategic & Multi-thematic Research and Development
* Growth of National Scientific & Research Human Capital
* Applied Research Development and Enterprise Innovation
* Research Infrastructure Development and Large Scale Investments
* International Networking and Collaboration in the field of R&D and Innovation

The highly educated work force in Cyprus and the high level of scientific personnel can be engaged in both research and business innovation and entrepreneurship, taking advantage of state research incentives.
Thus, several opportunities exist for foreign investors to invest in the growth of R&D&I in Cyprus.

Sector Synopsis
In addition to the research centres within the universities of Cyprus, there are numerous specialised research centres and knowledge institutes, including:

* The Cyprus Institute (www.cyi.ac.cy) with 6 research centres on: energy, the environment, technology, ICT, human health, and economic development
* The Cyprus International Institute (www.hsph.harvard.edu/cyprus) for the Environment and Public Health in conjunction with Harvard University
* The Agricultural Research Institute (http://arinet.ari.gov.cy) with the objective to increase crop yield and improve quality of agricultural production by methods that are environmentally and socially acceptable
* The Cyprus Institute of Neurology & Genetics (www.cing.ac.cy) specialising in neurology, molecular biology and all aspects of human genetics

More than 10 new policy measures are in place to accelerate innovation since 2006

Trademarks, patent and copyright laws have been in place for the protection of the rights of the proprietors and of the general public.

A plethora of Intellectual Property firms in Cyprus specialise in the protection of intellectual property rights, especially filing of trademarks and patents as well as copyright issues.