Research and Innovation funding in Cyprus is significantly strengthened with an additional €18 million and the strategic reallocation of resources within the existing budget of the Research and Innovation Foundation (RIF), announced Chief Scientist and RIF President Demetris Skourides.

According to a statement from RIF, the decision—following the programmes presented at the Rectors’ Summit in July 2024—enhances the momentum of Cyprus’s research and innovation ecosystem. It also reflects the government’s clear commitment to investing in scientific excellence, technology, and innovative entrepreneurship as key drivers of sustainable economic growth and international competitiveness.

The additional €18 million, along with reallocated resources, will be directed toward strategic sectors that support the country’s research and technological development. These include Research Infrastructures, Artificial Intelligence in the Public Sector, and Production Lines for Innovative Products.

Beyond securing increased funding, the Research and Innovation Foundation has implemented transformative changes to improve its operational efficiency. As a result, payment processing times dropped from 275 days in 2019 to just 61 days in 2023, while contract signing periods decreased from 21 months to 7 months within the same timeframe.

The R&I budget has more than doubled, rising from €130 million in the 2014–2020 period to €229 million by the end of 2025. The announced budget for frontier research has also doubled.

The Excellence Hubs programme grew from €17.6 million to €25 million for the 2021–2027 period. Additionally, the Vision ERC initiative, which had no funding prior to 2020, has secured €2.5 million for the same timeframe.

Similarly, the Bridge2Horizon programme, which also started with no budget in the previous period, now receives €8.6 million—demonstrating the government’s strong commitment to investing in excellence and entrepreneurship.

According to the announcement, these investments have already contributed to a significant expansion of public-private partnerships, increasing from 21% in 2021 to 29% in 2024, with expectations to surpass this figure in 2025.

Meanwhile, the postdoctoral researcher funding call recorded over 60% participation from women, paving the way for greater gender equality in research and supporting the national effort to promote women in STEM fields.

Through its 2024–2026 Research & Innovation Strategy, the Research and Innovation Foundation aims to establish a unified, robust, and outward-looking ecosystem capable of competing globally and attracting high value-added investment, the announcement concludes.