Cyprus is rapidly strengthening its position as a globally connected hub for innovation, artificial intelligence, entrepreneurship, advanced technologies, and research-driven economic growth.
Cyprus is rapidly strengthening its position as a globally connected hub for innovation, artificial intelligence, entrepreneurship, advanced technologies, and research-driven economic growth.
This was the central message delivered by the Chief Scientist of the Republic of Cyprus and Chairman of the Research and Innovation Foundation (RIF), Demetris Skourides, together with RIF Director General Theodoros Loukaides, during the 3rd Cyprus Diaspora Forum held in Limassol from 6–9 May.
The Forum brought together members of the global Cypriot diaspora alongside entrepreneurs, investors, researchers, innovators, policymakers, academics, and business leaders from Europe, the United States, India, Australia, Africa, and the Middle East — reinforcing Cyprus’ growing role as a trusted bridge connecting international innovation ecosystems.
Opening the Forum, Mr. Skourides highlighted the internationalisation strategy being advanced under the vision of President Nikos Christodoulides through engagements across the United States, the United Kingdom, the GCC, and Canada, noting that these efforts are already generating measurable outcomes for Cyprus’ innovation ecosystem and global positioning.
Since April 2025 alone, more than five U.S. companies have established or expanded operations in Cyprus, reflecting growing international confidence in the country’s talent base, strategic location, business environment, and innovation ecosystem.
“Cyprus is becoming more than a destination,” Mr. Skourides stated. “It is becoming a platform for innovation, entrepreneurship, investment, and international collaboration.”
Addressing the global Cypriot diaspora, Mr. Skourides described the more than 800,000 Cypriots abroad as one of the nation’s greatest strategic assets — a global network of talent, expertise, entrepreneurship, and influence capable of accelerating Cyprus’ transformation into an internationally connected innovation economy.
Within the framework of Vision 2035, discussions are focused on positioning Cyprus as a regional hub for AI, advanced technologies, research, and innovation-driven growth while creating opportunities for talent to remain, return, invest, and scale globally competitive ventures from Cyprus.
During the Forum, Mr. Skourides highlighted a growing number of international organisations and companies selecting Cyprus as a strategic innovation base, including HUMRN and ESG Perform Global from Australia, alongside LTIMindtree, DRONE Destination, and SHADGUNYA Cyprus from India.
More than twenty Cypriot startups and innovation companies were also showcased across healthcare, defence technologies, maritime innovation, AI systems, semiconductor R&D, media technologies, and fire management solutions — demonstrating Cyprus’ growing capability to commercialise research, attract investment, and scale globally competitive technologies.
A flagship session of the Forum featured a high-level dialogue between Cyprus’ Deputy Minister of Research, Innovation and Digital Policy, Nicodemos Damianou, and Chief Scientist Demetris Skourides titled “Innovation, Transformation & EU Leadership,” focusing on Cyprus’ transition toward a modern AI-enabled state and the implementation of the National Digital Strategy. The discussion explored both the opportunities and constraints of digital transformation, including legacy systems, cybersecurity, interoperability, digital skills, governance, and public trust.
Deputy Minister Damianou emphasised the importance of resilient digital foundations capable of improving citizen experience, operational efficiency, and transparency across government. Mr. Skourides stressed that successful transformation requires not only technology adoption, but also the development of a modern digital culture, AI readiness, STEM investment, lifelong learning, and workforce transformation.
The session highlighted the Government’s largest-ever digital transformation programme, comprising more than 80 projects modernising public services, cloud infrastructure, cybersecurity, and AI capabilities, alongside strategic collaborations with Amazon, Microsoft, Cisco, NVIDIA, and OpenAI-related initiatives.
Another major highlight of the Forum was the fireside discussion “Unlocking Cyprus’ Innovation Potential: Behind the Rise of a Mediterranean Tech Hub,” moderated by former Australian Innovation Minister, the Hon. Andrea Michaels.
During the discussion, Mr. Skourides outlined how Cyprus is repositioning itself from a peripheral market into a globally connected innovation platform capable of attracting international investment, startups, strategic technologies, and talent.
He emphasised that Cyprus’ competitive advantage lies not only in geography, but in agility, execution speed, EU market access, research capability, talent density, and the country’s ability to build trusted bridges between Europe, the Middle East, India, the United States, and Australia.
Focus was placed on Cyprus’ transition from a “grant-seeking ecosystem” into a “market-creating ecosystem,” where research, entrepreneurship, venture capital, and international partnerships converge to generate scalable companies, intellectual property, and long-term economic value.
Former Australian Innovation Minister Andrea Michaels praised Cyprus’ growing innovation ambition and international positioning.
“The ambition around sovereign AI, research commercialisation, global talent, and innovation leadership is impressive,” she stated.
“Mr. Skourides’ leadership and vision are clearly helping drive that momentum. Cyprus is positioning itself as far more than a Mediterranean destination — it is becoming a serious player in the global technology ecosystem.”
Mr. Skourides also participated in sessions focused on strengthening Cyprus–India partnerships, healthcare innovation, and the future of biomedical research and personalised medicine in Cyprus.
As part of the Forum, he hosted two Fearless Future podcast episodes exploring AI, regenerative medicine, translational research, healthcare innovation, and personalised medicine together with distinguished researchers and diaspora leaders, including Dr. Steven Petratos, Dr. Panteli Theocharous, and Professor Nicholas Dietis.
A further highlight was the Research and Innovation Foundation masterclass “Cyprus as a Gateway to Europe,” co-delivered by Mr. Skourides, Mr. Loukaides, and RIF Vice Chairman Dr. Andreas Efstathiou.
Moderated by distinguished Cypriot Australian entrepreneur James Demetriou AM, Executive Chair of ESG Perform Global, the session brought together entrepreneurs, investors, and ecosystem leaders from the United Kingdom, South Africa, the United States, the UAE, and Australia.
“We chose Cyprus as our global headquarters because it offers the perfect combination of EU trust, strategic positioning, agility, and a world-class research ecosystem,” Mr. Demetriou stated.
“Cyprus is becoming a sovereign innovation gateway connecting Europe with global opportunity.”
Cyprus-based technology entrepreneur Angelos Gregoriou, CEO of Dynamic Works, emphasised the importance of trust, ecosystem support, and institutional alignment in enabling innovation-driven growth.
“There is nothing more powerful than when a country genuinely believes in innovation and actively supports entrepreneurs building globally competitive technologies,” he stated.
Michael Charalambous Angelides, Co-CEO of Threedium, highlighted Cyprus’ growing attractiveness for globally scalable technology companies.
“Cyprus is no longer simply a place to incorporate — it is becoming a place to build, scale, and innovate globally,” he noted.
Dr. Steven Petratos, Head of the Neuroscience and Development Group at Monash University, added: “Cypriot Chief Scientist Mr. Skourides has aligned stakeholders and created a clear pathway for research, development startups, and SMEs to scale from Cyprus into global health and translational science sectors.”
UAE-based business leader and Forum Honorary Member, Peter Abraam, also praised the Forum’s strategic direction and Cyprus’ evolution into a market-creating innovation ecosystem.
Commenting on the Forum, Mr. Skourides stated: “For decades, Cyprus exported talent to the world. Today, through initiatives such as Minds in Cyprus, we are building the conditions for global talent, entrepreneurs, researchers, and innovators to build for Europe through Cyprus and scale globally.”
“Cyprus is entering a defining era where innovation, artificial intelligence, entrepreneurship, and international collaboration are becoming central pillars of national growth,” he added.
Mr. Loukaides stated that Cyprus possesses the talent, research capability, entrepreneurial energy, and international partnerships required to build a highly competitive innovation economy. “Our mission is to strengthen the bridges between research, entrepreneurship, investment, and international collaboration so innovation delivers meaningful impact for society and future generations.”
Cyprus is rapidly strengthening its position as a globally connected hub for innovation, artificial intelligence, entrepreneurship, advanced technologies, and research-driven economic growth.
This was the central message delivered by the Chief Scientist of the Republic of Cyprus and Chairman of the Research and Innovation Foundation (RIF), Demetris Skourides, together with RIF Director General Theodoros Loukaides, during the 3rd Cyprus Diaspora Forum held in Limassol from 6–9 May.
The Forum brought together members of the global Cypriot diaspora alongside entrepreneurs, investors, researchers, innovators, policymakers, academics, and business leaders from Europe, the United States, India, Australia, Africa, and the Middle East — reinforcing Cyprus’ growing role as a trusted bridge connecting international innovation ecosystems.
Opening the Forum, Mr. Skourides highlighted the internationalisation strategy being advanced under the vision of President Nikos Christodoulides through engagements across the United States, the United Kingdom, the GCC, and Canada, noting that these efforts are already generating measurable outcomes for Cyprus’ innovation ecosystem and global positioning.
Since April 2025 alone, more than five U.S. companies have established or expanded operations in Cyprus, reflecting growing international confidence in the country’s talent base, strategic location, business environment, and innovation ecosystem.
“Cyprus is becoming more than a destination,” Mr. Skourides stated. “It is becoming a platform for innovation, entrepreneurship, investment, and international collaboration.”
Addressing the global Cypriot diaspora, Mr. Skourides described the more than 800,000 Cypriots abroad as one of the nation’s greatest strategic assets — a global network of talent, expertise, entrepreneurship, and influence capable of accelerating Cyprus’ transformation into an internationally connected innovation economy.
Within the framework of Vision 2035, discussions are focused on positioning Cyprus as a regional hub for AI, advanced technologies, research, and innovation-driven growth while creating opportunities for talent to remain, return, invest, and scale globally competitive ventures from Cyprus.
During the Forum, Mr. Skourides highlighted a growing number of international organisations and companies selecting Cyprus as a strategic innovation base, including HUMRN and ESG Perform Global from Australia, alongside LTIMindtree, DRONE Destination, and SHADGUNYA Cyprus from India.
More than twenty Cypriot startups and innovation companies were also showcased across healthcare, defence technologies, maritime innovation, AI systems, semiconductor R&D, media technologies, and fire management solutions — demonstrating Cyprus’ growing capability to commercialise research, attract investment, and scale globally competitive technologies.
A flagship session of the Forum featured a high-level dialogue between Cyprus’ Deputy Minister of Research, Innovation and Digital Policy, Nicodemos Damianou, and Chief Scientist Demetris Skourides titled “Innovation, Transformation & EU Leadership,” focusing on Cyprus’ transition toward a modern AI-enabled state and the implementation of the National Digital Strategy. The discussion explored both the opportunities and constraints of digital transformation, including legacy systems, cybersecurity, interoperability, digital skills, governance, and public trust.
Deputy Minister Damianou emphasised the importance of resilient digital foundations capable of improving citizen experience, operational efficiency, and transparency across government. Mr. Skourides stressed that successful transformation requires not only technology adoption, but also the development of a modern digital culture, AI readiness, STEM investment, lifelong learning, and workforce transformation.
The session highlighted the Government’s largest-ever digital transformation programme, comprising more than 80 projects modernising public services, cloud infrastructure, cybersecurity, and AI capabilities, alongside strategic collaborations with Amazon, Microsoft, Cisco, NVIDIA, and OpenAI-related initiatives.
Another major highlight of the Forum was the fireside discussion “Unlocking Cyprus’ Innovation Potential: Behind the Rise of a Mediterranean Tech Hub,” moderated by former Australian Innovation Minister, the Hon. Andrea Michaels.
During the discussion, Mr. Skourides outlined how Cyprus is repositioning itself from a peripheral market into a globally connected innovation platform capable of attracting international investment, startups, strategic technologies, and talent.
He emphasised that Cyprus’ competitive advantage lies not only in geography, but in agility, execution speed, EU market access, research capability, talent density, and the country’s ability to build trusted bridges between Europe, the Middle East, India, the United States, and Australia.
Focus was placed on Cyprus’ transition from a “grant-seeking ecosystem” into a “market-creating ecosystem,” where research, entrepreneurship, venture capital, and international partnerships converge to generate scalable companies, intellectual property, and long-term economic value.
Former Australian Innovation Minister Andrea Michaels praised Cyprus’ growing innovation ambition and international positioning.
“The ambition around sovereign AI, research commercialisation, global talent, and innovation leadership is impressive,” she stated.
“Mr. Skourides’ leadership and vision are clearly helping drive that momentum. Cyprus is positioning itself as far more than a Mediterranean destination — it is becoming a serious player in the global technology ecosystem.”
Mr. Skourides also participated in sessions focused on strengthening Cyprus–India partnerships, healthcare innovation, and the future of biomedical research and personalised medicine in Cyprus.
As part of the Forum, he hosted two Fearless Future podcast episodes exploring AI, regenerative medicine, translational research, healthcare innovation, and personalised medicine together with distinguished researchers and diaspora leaders, including Dr. Steven Petratos, Dr. Panteli Theocharous, and Professor Nicholas Dietis.
A further highlight was the Research and Innovation Foundation masterclass “Cyprus as a Gateway to Europe,” co-delivered by Mr. Skourides, Mr. Loukaides, and RIF Vice Chairman Dr. Andreas Efstathiou.
Moderated by distinguished Cypriot Australian entrepreneur James Demetriou AM, Executive Chair of ESG Perform Global, the session brought together entrepreneurs, investors, and ecosystem leaders from the United Kingdom, South Africa, the United States, the UAE, and Australia.
“We chose Cyprus as our global headquarters because it offers the perfect combination of EU trust, strategic positioning, agility, and a world-class research ecosystem,” Mr. Demetriou stated.
“Cyprus is becoming a sovereign innovation gateway connecting Europe with global opportunity.”
Cyprus-based technology entrepreneur Angelos Gregoriou, CEO of Dynamic Works, emphasised the importance of trust, ecosystem support, and institutional alignment in enabling innovation-driven growth.
“There is nothing more powerful than when a country genuinely believes in innovation and actively supports entrepreneurs building globally competitive technologies,” he stated.
Michael Charalambous Angelides, Co-CEO of Threedium, highlighted Cyprus’ growing attractiveness for globally scalable technology companies.
“Cyprus is no longer simply a place to incorporate — it is becoming a place to build, scale, and innovate globally,” he noted.
Dr. Steven Petratos, Head of the Neuroscience and Development Group at Monash University, added: “Cypriot Chief Scientist Mr. Skourides has aligned stakeholders and created a clear pathway for research, development startups, and SMEs to scale from Cyprus into global health and translational science sectors.”
UAE-based business leader and Forum Honorary Member, Peter Abraam, also praised the Forum’s strategic direction and Cyprus’ evolution into a market-creating innovation ecosystem.
Commenting on the Forum, Mr. Skourides stated: “For decades, Cyprus exported talent to the world. Today, through initiatives such as Minds in Cyprus, we are building the conditions for global talent, entrepreneurs, researchers, and innovators to build for Europe through Cyprus and scale globally.”
“Cyprus is entering a defining era where innovation, artificial intelligence, entrepreneurship, and international collaboration are becoming central pillars of national growth,” he added.
Mr. Loukaides stated that Cyprus possesses the talent, research capability, entrepreneurial energy, and international partnerships required to build a highly competitive innovation economy. “Our mission is to strengthen the bridges between research, entrepreneurship, investment, and international collaboration so innovation delivers meaningful impact for society and future generations.”
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