Chief Scientist presents Cyprus as a growing hub for technology, innovation and digital transformation

Cyprus is rapidly emerging as a dynamic centre for research, innovation, and digital transformation in the Eastern Mediterranean. At the forefront of this evolution is the national technology and innovation ecosystem, which Chief Scientist for Research, Innovation, and Technology, Republic of Cyprus Dr Demetris Skourides has highlighted in his presentation at the “7th Doing Business in Cyprus Summit: Cyprus – The ultimate hub for business work and Lifestyle”, organised by IMH and Invest Cyprus in Tel Aviv.

Entitled “Cyprus: A Rising Technology & Innovation Hub”, Skourides’ presentation outlined Cyprus’ strategic advancements, state-of-the-art infrastructure, and its thriving ICT sector — all of which position Cyprus as a competitive destination for tech-driven investment and growth.

Cyprus' innovation ecosystem is built upon a strong foundation of collaboration between government, academia, startups, and international companies. As Dr Skourides pointed out, the country has developed a nurturing environment for innovation through targeted incentives, supportive institutions, and research funding opportunities. This cohesive system is designed to fuel entrepreneurship, attract talent, and enable scalable innovation.

One of Cyprus’ most notable achievements is the development of its high-performance digital infrastructure, the Chief Scientist said. The country boasts extensive high-speed fiber optic coverage and comprehensive 5G network deployment — vital components that support a competitive digital economy.

Cyprus is also advancing in the digitalisation of its public sector. Dr Skourides told investors in Israel that through various e-government initiatives, key services are now being digitised to improve efficiency, transparency, and user accessibility. This transformation enhances service delivery for citizens and businesses alike, while demonstrating the government's commitment to technological progress, he said.

Dr Skourides also highlighted the Information and Communications Technology (ICT) sector’s pivotal role in Cyprus and the national economy. It currently employs approximately 5.4% of the workforce, making it one of the fastest-growing sectors. The presence of global tech companies, coupled with a steady increase in local ICT startups, is further solidifying the island’s reputation as a tech-friendly destination, he explained.

Cyprus’ R&D ecosystem

Dr Skourides also shed light on the rapidly developing Research and Development (R&D) ecosystem. Cyprus is investing heavily in R&D infrastructure, with multiple centres of excellence, international collaborations, and dedicated funding streams to support cutting-edge scientific research. This ecosystem not only attracts international researchers but also encourages partnerships with industry, leading to practical innovations and commercialization opportunities.

Organisers, sponsors, supporters and exhibitors

The “7th Doing Business in Cyprus Summit: Cyprus – The ultimate hub for business work and Lifestyle”, taking place on 5 May 2025 in Tel Aviv, Israel, is organised by IMH and Invest Cyprus.

Academic Sponsor

• CIM-Cyprus Business School

Sponsors: (with participation in a panel discussion)

• Alpha Bank Cyprus Ltd
• ALTIA
• Bybloserve Management Ltd
• Cyfield
• Frangos & Associates LLC
• Karitzis Legal
• Korantina Homes
• KPMG Cyprus
• PwC Cyprus
• XPADIA

Exhibitors:

• Andreas Demetriades & Co LLC
• Aristo Developers
• bbf
• City of Dreams Mediterranean
• D. Zavos Group
• GoGordian Real Estate
• Leptos Group
• Pafilia
• Perfect Circle Trust Ltd
• Y. Argyrides & Associates LLC

Communication Sponsors:

• GOLD magazine
• IN Business magazine
• CBN- Cyprus Business News portal