Cyprus fails to meet R&D targets

CYPRUS has failed to meet its obligation to spend 1.0 per cent of GDP on research, technology and innovation by 2010, as the real figure still hovers below half the required amount.

Yesterday EDEK MP Georgios Varnavas called on government to increase spending on research and development  (R&D), highlighting the gap between Cyprus and other EU countries in terms of R&D expenditure.

Varnavas argued that Cyprus comes bottom of the list of EU countries, spending €74.3 million or only 0.43 per cent of its Gross Domestic Product (GDP) on R&D in 2008, compared to the average 1.9 per cent allocated by other EU countries.

The Slovak Republic spends 0.47 per cent, Bulgaria 0.49 per cent while Finland and Sweden spend 3.73 per cent and 3.75 per cent respectively.

The socialist deputy pointed out that Cyprus was obliged to spend one per cent of GDP on research, technology and innovation by 2010. Referring to the Research Promotion Institute has not taken any initiative forward since it was assigned its tasks in June 2008.

“The lack of progress in this sector risks Cyprus losing credibility among research partners and investors both in Cyprus and abroad,” he said.

“Cypriot inventors have either become discouraged or are forced to flee abroad.”

In Cyprus, higher educational institutions receive 43 per cent of the money allocated to R&D. The government receives 22.9 per cent, businesses 22.9 per cent and private non-profit organisations 10.6 per cent.

The number of people engaged in R & D activities in 2008 stood at 2.475, compared to 2.495 in 2007. Nearly 40 per cent of these are women. In total nearly 34 per cent of all those engaged in R&D are PhD holders.

Varnavas proposed that the government immediately implement the creation of a Science & Technology Park, provide more funds for research in the public sector, take additional measures to encourage private investment in R&D, and solve the problems delaying the progression of high technology incubators.

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