The strategy followed by the Ministry of Commerce, Industry and Tourism for supporting and developing small and medium-sized enterprises (SMEs) includes, among other goals, improved access to research, technological innovation, training, and information services for SMEs.
The Planning Bureau is also a State Executive Service, equal to those of the Ministries and responsible for promoting and coordinating economic and social development.
More specifically, the Bureau coordinates and promotes the Lisbon Strategy, issues concerning research/innovation and the information society, lifelong learning, promoting private funding projects (Public Finance Initiative).
The establishment of the Research Promotion Foundation (RPF), an independent, non-profit organisation supported entirely by the state, has the sole purpose of promoting scientific and technological research in Cyprus.
Alongside innovation, access to R&D is essential for businesses to develop and stay competitive.
Intellectual property must be protected to encourage innovation.
The Competitiveness and Research Directorate of the Planning Bureau offers a comprehensive list of research activities in Cyprus.
The Research Promotion Foundation provides a comprehensive list of research centres and competitiveness development organisations based in Cyprus.
The main and most important body responsible for the achievement of national policy goals is the Programmes Bundle of the Research Promotion Foundation for Research and Technological Development.
The enhancement of entrepreneurship, especially among young people and women, is promoted through projects which provide grants to create new, modern and flexible small businesses through specialised training courses on issues concerning entrepreneurship for young entrepreneurs.