Cyprus’s goal for this year’s DESI index is to be in the 15-16 range, according to Deputy Minister of Innovation Kyriakos Kokkinos. Over the next five years, a little more than half a billion euros (€512 million) will be set aside for digital transformation. Deputy Minister Kyriakos Kokkinos explained at the State Ministry of Innovation project presentation that 23% of the Recovery and Resilience Plan is dedicated to digital transformation projects, i.e. around €282 million plus another €150 million which comes from national resources, plus €80 million for business innovation, primarily digital, means that the total amount of money available over the next five years exceeds $500 million. The Ministry’s budget is approximately 120 million for 2023, rising to 157 million in 2024 and 135 million in 2025. For the period 2021-2027, the National Programme Plan allocates €34 million to innovation, €35 million to internationalization, €30 million to research, €17 million to strengthening structures and capacities, and €34 million to collaboration and knowledge transfer. According to Mr. Kokkinos, the Foundation’s funding programs have provided €30 million to start-ups and scale-ups over the last three years, resulting in €15 million in private capital leverage, the creation of more than 240 […]
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