The decision reinforces the dynamics of the Cypriot Research and Innovation and Innovation and Innovation
The funding of research and innovation is significantly enhanced by securing additional 18m euros and the strategic redistribution of resources within the existing budget of the IDEK, the head scientist and president of IDEK Dimitris Skouridis said.
In a statement by IDEK, it is stated that the decision, following the programs presented at the Rector’s Synod in July 2024, reinforces the dynamics of the Cyprus Ecosystem of Research and Innovation and highlights the clear commitment of the government to invest in scientific and technology and technology and technology. Competitiveness.
The extra 18 million euros, as well as the redistribution of existing resources, will be allocated to cutting -edge areas that boost the country’s research and technological development. The programs include research infrastructures, artificial intelligence in the public and lines of innovative products.
In addition to ensuring increased funding, the Research and Innovation Foundation has made transformative changes to improve its functional efficiency. As a result, the time required for payments was reduced from 275 days in 2019 to just 61 days in 2023, while the time for contracts decreased from 21 months to 7 months in the same period.
In addition, the budget for research and innovation has more than doubled, from € 130 million in 2014-2020, to € 229 million by the end of 2025, while the announced budget for cutting-edge research has doubled.
The Excellence Hubs program increased from € 17.6 million to EUR 25 million for the period 2021-2027, while the Vision ERC initiative, which was not funded by 2020, secured 2.5 million euros for the same period.
At the same time, the Bridge2horizon program, which also started without budget in the previous period, now receives € 8.6 million, confirming the government’s clear commitment to invest dynamically in excellence and entrepreneurship.
According to the announcement, these investments have already contributed to a significant expansion of public-private partnerships, which have increased from 21% in 2021 to 29% in 2024, while in 2025 we are expected to exceed that rate.
At the same time, the invitation of funding for postdoctoral researchers has recorded more than 60% involvement by female researchers, paving the way for greater gender equality in research and supporting the national effort to promote women in the Stem sciences.
The Research and Innovation Foundation through Strategic Research & Innovation 2024-2026, aims to form a consolidated, powerful and extroverted ecosystem capable of competing in the international environment and attracting high-value-added investments, concludes.
Source: KYPE