During a press conference on High Tech today, the Minister of Commerce, Industry and Tourism Mr. Nicos A. Rolandis stated that the High Technology Sector opens a new chapter in the industrial history of Cyprus. Without disregarding the existing industrial structure of the country, the Minister said, Cyprus has made the big step towards high-tech which is expected to strengthen, enhance and enrich its economy.

Within the framework of the Programme for the Creation and Operation of Business Incubators the Ministry of Commerce, Industry and Tourism has signed a contract with the Cypriot company PROPLAN Ltd and the Greek company i-Cube Α.Ε for the creation of the first High Technology Business Incubator which has already started operation in 2002.

In the meantime and in order to encourage the creation of additional business incubators, the Government within the context of the same Programme, published in March 2002 an announcement in the press requesting interested parties to submit applications for participation in the above programme.  As a result of this call for proposals, 10 applications were submitted.

Following an evaluation of these applications by the Programme Evaluation Committee, based on predefined criteria, the following applicants were selected:

The successful applicants will sign a contract with MCIT for cooperation in the implementation of the Programme for the Creation of New Enterprises of High Technology and Innovation through the Institution of Business Incubators.

Based on this contract, the above applicants will undertake the creation of the necessary material and technical infrastructure (buildings and equipment) for the housing of scientists and the provision of assistance services to them in order to develop innovative ideas or research results into high tech products, which will be marketed in the international market through technological companies.

For the most effective promotion of High Tech in Cyprus, the Ministry of Commerce, Industry and Tourism has organised study visits to USA, Ireland, Greece, India, Israel and Russia. The scope of these visits was the attraction of scientists from these countries to  the Cypriot  Business Incubators, the possible use of the technological structure that exists at their universities by the incubatees of the Cypriot Business Incubators and the provision of assistance for the evaluation of applications for admission to the Cypriot Business Incubators.

As a result of these contacts the Ministry of Commerce, Industry and Tourism has already signed a Protocol for cooperation in the field of High Technology with the Ministry of Development of Greece and also Memoranda of Understanding for Cooperation in the field of science and technology and information technology and services with the Ministry of Science and Technology and Ministry of Communications and Information Technology of India respectively.  In October 2002, the Minister of Commerce, Industry and Tourism, heading a delegation, visited USA where he signed an Agreement of Cooperation with the State University of New York at Albany.  The delegation also visited the University of South California where they had preliminary contacts with regards to a possible cooperation in the field of technology.

In addition, MCIT is in contact with the Ministry of Industry, Science and Technology of the Russian Federation for signing a cooperation protocol in the field of technology."

Concluding, the Minister said: "The adoption of High Technology constitutes a continuous and long-term effort.  The Ministry of Commerce, Industry and Tourism has laid  the foundation for the accomplishment of its targets as to continue to play,  like in the past, substantial role in the wider Mediterranean region, making mainly optimum use of the high caliber human potential, the technological development and the fact that soon will be a member of the European Union.

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