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Theodoros Loukaidis on what entrepreneurs should avoid on the way to commercialisation (video)

07:11 - 23 December 2024

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CBN spoke with Theodoros Loukaidis, Director General of the Research and Innovation Foundation, about bridging the commercialisation gap and producing more success stories.

In September 2024, Mario Draghi’s report on European competitiveness delivered a stark assessment in that Europe struggles to translate innovation into commercial success, and Cyprus is no exception. Despite an active research community, the island nation faces a glaring statistic: between 2021 and 2022, Cypriots filed just 42 patents with the European Patent Office. Is this a symptom of a young scene still finding its footing, or does it hint at deeper issues?

The Research and Innovation Foundation (RIF), the government channel for research and innovation funding – it has disbursed some €180 million between 2016 and mid-2024 – plays a central role in addressing these gaps. However, bridging the gap between academia and industry remains a key hurdle.

In this conversation with GOLD magazine and CBN journalist Adonis Adoni, Director General Theodoros Loukaidis shares RIF’s strategy to create the conditions for more breakthroughs to leap from the lab to the market, the pitfalls entrepreneurs should avoid on the way to commercialisation and how his role requires balancing ambitious long-term goals with the immediate demands of diverse stakeholders.

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