2020 Cyprus Country Report
The 2020 Cyprus Country Report features in-depth articles on the economy, foreign direct investment, international trade and headquartering as well as detailed sector profiles and insights from Cyprus’ 100 most influential political, economic and business leaders shaping the future of their country and its industries.
The 2020 Cyprus Country Report features in-depth articles on the economy, foreign direct investment, international trade and headquartering as well as detailed sector profiles and insights from Cyprus’ 100 most influential political, economic and business leaders shaping the future of their country and its industries.
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KEY<br />
contacts<br />
Deputy Ministry of Research,<br />
Innovation and Digital Policy<br />
www.dmrid.gov.cy<br />
The Research and<br />
Innovation Foundation<br />
www.research.org.cy<br />
<strong>Cyprus</strong> ranks<br />
first among the<br />
EU member<br />
states in relation<br />
to the per capita<br />
absorption<br />
of funds from<br />
the biggest<br />
EU research<br />
and innovation<br />
programme,<br />
Horizon <strong>2020</strong>,<br />
which has a<br />
budget of nearly<br />
€80 billion.<br />
In addition, the RIF has developed extensive<br />
activities at both a national and international<br />
level towards supporting the local ecosystem.<br />
One of its most important activities is the development,<br />
launch and monitoring of research and<br />
innovation (R&I) funding programmes, such<br />
as the multiannual framework of programmes<br />
dubbed RESTART 2016-<strong>2020</strong>, with a total budget<br />
of approximately €100 million. The Foundation<br />
is also responsible for the coordination of the activities<br />
for the participation of <strong>Cyprus</strong> in Horizon<br />
<strong>2020</strong>, the biggest EU research and innovation<br />
programme.<br />
According to EU data, more than €245 million<br />
has so far been absorbed by members of the<br />
Cypriot academic, research and business community.<br />
Since the beginning of the programme in<br />
2014, a total of 5,059 Cypriot applications have<br />
been submitted. Of those, 3,876 were eligible and<br />
541 were approved for funding – ranking <strong>Cyprus</strong><br />
first among the EU member states in relation to<br />
the per capita absorption of Horizon funds. With<br />
the Horizon <strong>2020</strong> programme closing at the end<br />
of the year, the EU is now launching its most<br />
ambitious R&I programme to date branded as<br />
Horizon Europe, which will run from 2021-2027<br />
with a budget of €105.7 billion keeping the EU –<br />
and <strong>Cyprus</strong> – at the forefront of global research<br />
and innovation.<br />
TACKLING CLIMATE CHANGE<br />
Climate change and environmental degradation<br />
has become a primary and existential threat to<br />
Europe and the world. To overcome these challenges,<br />
a new growth strategy is needed to transform<br />
the EU into a modern, resource-efficient<br />
and competitive economy. As a country seriously<br />
affected by climate change, <strong>Cyprus</strong>’ R&D landscape<br />
has taken a strong approach in finding solutions<br />
and introducing cutting-edge monitoring<br />
systems to gather vital data.<br />
Thanks to €15 million in Horizon <strong>2020</strong><br />
funding, one of <strong>Cyprus</strong>’ top-tier institutions for<br />
research and development, the <strong>Cyprus</strong> Institute<br />
(CyI), has expanded its vital work monitoring<br />
atmospheric pollution as an indicator of regional<br />
climate change and established the Centre<br />
of Excellence for Eastern Mediterranean and<br />
Middle East Climate and Atmosphere Research<br />
Centre (EMME-CARE). The EMME region has<br />
long been recognised as an area subject to rapid<br />
environmental change and increasing demand<br />
for dwindling resources such as water. The rate of<br />
temperature change in summer in the EMME for<br />
example, is more than twice the global average.<br />
Through continuous comprehensive measuring<br />
of levels of airborne atmospheric pollution,<br />
along with advanced computer modelling, the<br />
research centre is building up a unique database<br />
to develop a portfolio of regional-specific strategies<br />
for climate change mitigation. In time, the<br />
research will reduce dependency on know-how<br />
that has generally not been devised for the region’s<br />
particular needs. Meanwhile, the Institute’s<br />
Energy, Environment and Water Research Center<br />
(EEWRC) has carried out well-documented<br />
work on the development of solar power and on<br />
monitoring climate change.<br />
The CyI is a key player in developing <strong>Cyprus</strong><br />
as a key R&D hub in the East Med with over<br />
1,000 partnerships with prominent universities<br />
and institutes in over 65 countries, and more<br />
than 50 MoUs with major partners around the<br />
world. Some of the more notable partnerships are<br />
with the Massachusetts Institute of Technology<br />
(MIT), the University of Illinois at Urbana-<br />
Champaign (UIUC), the Centre de Recherche<br />
et de Restauration des Musées de France and the<br />
Max Planck Society.<br />
The University of <strong>Cyprus</strong> (UCY) FOSS<br />
Research Centre for Sustainable Energy also<br />
carries out cutting-edge research in the field of<br />
renewable sources of energy, with emphasis on<br />
solar energy, smart grids, smart buildings, grid<br />
integration and enabling technologies. FOSS has<br />
been highly successful in competing for funds, so<br />
far securing €16 million from more than 50 EU,<br />
national and industrial-funded projects. Wellknown<br />
international players in the field of energy<br />
such as Honeywell, Hanwa Q Cells, Gantner<br />
Instruments and IBM amongst other leading international<br />
brands are already collaborating with<br />
FOSS and are testing their products in <strong>Cyprus</strong>.<br />
A key aim is to make <strong>Cyprus</strong> a hub for solar<br />
innovation, technology transfer, industry startups<br />
and job creation where ideas can grow and<br />
achieve their full potential. <strong>Cyprus</strong> was also a<br />
testing ground for an innovative community<br />
project delivered by a German electric utility<br />
company Autarsys, where 30 kW/50 kWh was<br />
connected to a conventional distribution substation<br />
in Nicosia. State-of-the-art high-voltage<br />
lithium-ion batteries were used, and the battery<br />
system provided services to the distribution<br />
network, such as power balancing, network<br />
and frequency support, as well as services that<br />
stabilise and protect the seamless operation of<br />
the network and are considered essential for<br />
modern power networks. The project received<br />
funding from the European Union’s Interreg<br />
Mediterranean research and innovation programme<br />
under the project StoRES – a €2 millioneuro<br />
project of the MED Programme of the EU’s<br />
European Regional Development Fund.<br />
In regional cooperation, <strong>Cyprus</strong> saw the creation<br />
of the Paphos Innovation Institute in <strong>2020</strong>,<br />
which is a non-profit joint venture between one<br />
Sector Profile<br />
<strong>Country</strong> <strong>Report</strong> CYPRUS <strong>2020</strong> 125