Cyprus Ministry of Energy and the Research and Innovation Foundation signed a Memorandum of Cooperation

A Memorandum of Understanding was signed today between the Minister of Energy Trade and Industry Mrs. Natasa Pileides and the Chief Scientist of Research and Innovation and President of the Foundation for Research and Innovation, Mr. Nikola Mastrogiannopoulos with the main aim of defining a framework for cooperation in research, innovation and technology, as well as the exchange of know-how between the two parties on the submission and evaluation of proposals for specific sponsorship projects.

The Memorandum envisages, among other things, the holding of joint information events to promote the culture of research and innovation and the presentation of business prospects arising from their exploitation in industry, as well as the promotion of joint actions for industry utilisation of the services offered by the Excellence Centres. The text of the Memorandum also emphasises the need for cooperation aimed at promoting the internationalisation of Cypriot innovative companies.

During the signing ceremony of the Memorandum, the Minister of Energy, Trade and Industry stressed the need to strengthen the competitiveness of the industry on a new development model based mainly on technological upgrading, green growth, digitisation, research and innovation. Mrs. Pileides noted that at such a time it is imperative to find the right solutions to boost our dynamic transition to a sustainable, cyclical economy, as a driving force for growth and modernisation.

Dr. Mastrogiannopoulos stressed that the signing marks the beginning of a new era and cooperation with an innovative dimension, aiming at building a competitive industrial ecosystem. An ecosystem that will be characterised by extroversion, will feed innovative ideas, will bring added value and benefits and will contribute to the formation of a dynamic and competitive economy, ensuring the sustainable development of the country and the well-being of its citizens.