The Cyprus Association of Research and Innovation Enterprises (CARIE) signed with the Cyprus University of Technology (TEPAK) a Memorandum of Understanding for the creation of the first Technology Park of Cyprus in the Berengaria area.

The strategic partnership lays the foundations for the development of a Technology Park model in Limassol, next to the TEPAK facilities. This cooperation, which was sealed with the signing of the Cooperation Protocol, aims to connect the academic community with the Cypriot high-tech industry, promoting innovation, research, and entrepreneurship.

The Technology Park will act as a catalyst for the creation of a dynamic ecosystem that will enhance the production of innovative products, the development of start-ups, and the promotion of export activities. At the same time, it will offer internship opportunities to TEPAK students, as well as employment opportunities for graduates from members of the Association.

Main objectives of the Memorandum:

• Development of a Technology Park: Creation of a modern space that will host academic units, start-ups, laboratories, and companies, enhancing collaboration and innovation.
• Participation in research projects: Focus on cutting-edge fields such as artificial intelligence, biotechnology, and microelectronics, with the aim of producing innovative Cypriot products with an export orientation.
• Opportunities for students and graduates: Provision of internship and employment opportunities for TEPAK students and graduates from CARIE member companies, strengthening the connection between academia and the labour market.
• Development of start-ups: Creating a favourable environment for the development of start-ups and spin-offs linked to the university, promoting innovation and entrepreneurship.

The cooperation of CARIE with TEPAK is not just an investment in technology but also in creating a better future for the local society, economy, and science in Cyprus.

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