Demetris Skourides: The state recognises the importance of innovation

In his keynote address at the 9th International Funds Summit & EXPO currently underway in Limassol, Demetris Skourides, Chief Scientist for Research, Innovation and Technology of the Republic of Cyprus said, the state recognised the importance of innovation.

In an address entitled ‘Unveiling Cyprus: Emerging as a Leading Tech Hub for Regional Innovation,’ Skourides said that the state believed innovation was a key driver and this was one of the reasons it was interested in attracting tech industry companies.

He notes Cyprus has been recognised by a series of indexes for improving its innovation and direct investment sectors.

“In a bid to maintain momentum,” Skourides said, that the state had introduced a series of measures, including those included in the Vision 2035 strategy.

He mentioned the favourable tax regime Cyprus offers individuals and corporate investors among other targeted groups. Efforts towards a sustainable Green transition are also underway, Skourides added.

Among efforts to provide corporations with support, the state has also introduced a series of measures to support startups. Likewise, measures to support digital nomads are also in place, he noted.

The state’s attention is also visible in the funding made available through a variety of schemes, Skourides said, including through the Research and Innovation Foundation.

He noted the island’s many universities and centres of excellence among other bodies supporting inovation and research.

“I assure you Cyprus is well on its way to becoming an outstanding tech hub,” he said.

The 9th International Funds Summit & EXPO and the 36th International Investment Funds Association (IIFA) Annual Conference 23-25 October) are being held by the Cyprus Investment Funds Association (CIFA) and the International Investment Funds Association respectively.

The 9th International Funds Summit & Expo will welcome leading fund managers and fund administration specialists from across the world to discuss the evolving regulatory and increasingly competitive landscape in the global asset management sector.

Taking place on 23-24 October at the Parklane, a Luxury Collection Resort & Spa, in Limassol, the summit has a packed agenda, with key topics including an overview of investment vehicles and asset classes, asset management and financial stability, as well as cross-border distribution.

There will also be an extensive discussion around sustainable investing, which is key when it comes to investing nowadays, as well as FintTech and RegTech in the investment funds industry. The latter will also be discussed in depth, with a special emphasis on managing funds in the AI era and the use of technology to optimise investments.

More than 30 speakers from the international funds industry will be addressing the 9th International Funds Summit & Expo, in the presence of over 500 participants.