In today's rapidly evolving world, the need for collaboration between industry and academia has become more crucial than ever. It is this understanding that drives the INDUSAC (Industry-Academia Collaboration) project (https://indusac.eu/), an ambitious initiative funded by HORIZON EUROPE, aiming to establish a powerful platform for partnership between these two spheres. In this article, we will explore the significance of the INDUSAC project in the context of Cyprus, highlighting the value it brings to our nation's innovation ecosystem.

The aim of the project is to develop and validate a state-of-the-art, Industry Academia Collaboration (IAC) mechanism for quick, challenge-driven, human-centered co-creation. The goal of INDUSAC is to build upon pre-existing IAC mechanisms and to facilitate a simple, user-friendly co-creation process that allows to develop solutions that clearly address the needs and interests of companies, students, and researchers in the EU, with special attention to widening and associated countries.

Of a highly digitalised nature, the project INDUSAC will pilot the mechanism’s two main components:

• a methodology developed by applying human-centered design principles
• an online platform aimed at connecting stakeholders from the industry-academia ecosystem and at supporting them throughout their cocreation journey

The INDUSAC methodology will provide the guidance and tools needed to power the process, whilst the platform will stand as a networking space for stakeholders to connect, as well as a co-creation arena to develop joint solutions.

INDUSAC will announce two Open Calls in which 300 consortiums from industry and academia will be selected, comprising at least 1000 companies, 3000 students and 300 researchers by the end of the project. These open calls can offer Cypriot students, researchers and companies the chance to engage in international collaborations, advance research and innovation, address local challenges, stimulate economic growth, enhance international visibility, and foster capacity building. By actively participating in open calls, Cyprus can position itself as a vibrant and dynamic player in the global research and innovation landscape, leading to long-term benefits for the country's academic, scientific, and economic development.

In the context of Cyprus, the INDUSAC project holds immense promise for our nation's development. As a small island nation with limited resources, it is vital for us to maximize our potential by forging strong partnerships and collaborations. By leveraging the expertise and resources of both academia and industry, INDUSAC empowers Cyprus to overcome challenges and seize opportunities in an increasingly competitive global landscape.

Furthermore, INDUSAC will provide a platform for local industries to tap into the vast knowledge reservoirs of our academic institutions. This direct collaboration not only benefits the industry by enabling them to access the latest research which is based on industry’s needs but also creates pathways for the commercialization of innovative ideas, the scouting for entrepreneur talents, leading to the growth of new startups, job creation, and ultimately, a thriving economy.

The Cyprus University of Technology (CUT) is the Cypriot partner of the consortium and should be noted that the project aligns perfectly with the objectives of our university as part of the European University of Technology (EUt+) alliance, which recently integrated an Innovation and Entrepreneurship pillar, after the success and positive results of Inno-EUt+, an EIT HEI Initiative project also led by CUT. For more information, you may contact Eliza Nikolaou at [email protected] or Mariza Vryonidi at [email protected].

The INDUSAC project is truly remarkable and holds great promise for Cyprus and we strongly believe that when academia and industry come together, amazing things can happen.