For the third consecutive year, Cyprus is ranked among the "Strong Innovators" and is the country with the greatest progress (39%) since 2017, according to the European Innovation Scoreboard 2024, "demonstrating the increased momentum of the research and innovation ecosystem, creating a stronger outlook," the Cyprus Research and Innovation Foundation (RIF) said in a statement.

According to the announcement, Cyprus is the only country in Southern Europe classified as a Strong or Leading Innovator.

The statement adds that Cyprus remains a European leader in networking among ecosystem entities and boasts an attractive research system. Additionally, the number of small and medium-sized enterprises (SMEs) that innovate has significantly increased.

Cyprus records its highest performance indicators in publications, resulting from collaborations between public research organizations and the private sector, international scientific publications, and partnerships among innovative businesses and other entities.

Public and private investments in Research and Development (R&D), venture capital investments in innovative enterprises, and environmental sustainability are noted as the three areas of significant improvement for the country.

The Head Scientist for Research, Innovation, and Technology and Chairman of the Board of the Cyprus Research and Innovation Foundation stated that this is a significant achievement for the country. "The policies, funding programs of the Foundation, and the incentives provided by the State to support the entire research and innovation ecosystem are bearing fruit," he emphasized.

"As the funding organization for research and innovation, and in my capacity as Head Scientist, I want to congratulate all ecosystem entities for their high-level work, which leads to international distinctions. As Head Scientist and the Foundation, we work methodically, in collaboration with all stakeholders, for the further development of the ecosystem," he added.