Cyprus climbing European Innovation Scoreboard

President of the Republic of Cyprus Demetris Christofias said that the initiatives the government has been taking over the past years have significantly raised Cyprus' performance in the European Innovation Scoreboard for 2008, noting that Cyprus, along with Finland, Ireland and Bulgaria, has recorded the highest progress among the EU member states.
He added that Cyprus' performance reached 0.471, slightly below the EU27 average of 0.475, and the country is now ranking 12th.
In a speech at a ceremony for the Cyprus Innovation Award, which was read out by Minister of Commerce, Industry and Tourism Antonis Paschalides, President Christofias noted that innovation has proven to be a decisive factor for business competitiveness, economic growth and social welfare in countries promoting research, creativity and technological advancement.
President Christofias noted that the government has planned a series of initiatives and measures with an aim to upgrade the institutional framework for the promotion of research and innovation, and has also decided to maintain the increased funds for research, as well as the utilisation of EU structural funds.
He pointed out that this commitment, especially during the global financial crisis, proves the political will to invest in the society of knowledge, which is imperative for improving the economy's competitiveness.
Outlining the programmes, President Christofias referred to investments in research infrastructure, the development of research human resources, the development of research and innovation in businesses, the promotion of applied research in various sectors, and the international networking and cooperation of Cypriot organisations and businesses.
He said special emphasis was being given to increasing the number of researches and the cultivation of a research culture in all levels of education, and also referred to the utilisation of European funds, the promotion of new businesses, and the creation of a scientific and technological park to host research centres, inter alia.