The R&I governance system is designed to meet the following fundamental requirements:

• Utilisation of the maximum possible synergy between the public and the private sector and engagement of all stakeholders in the knowledge chain
• Strong guidance, supervision and ownership at policy level
• Take-up of existing experience and know-how within the R&I ecosystem
• Ensure sufficient resources and competences for the effective operation of the R&I governance system
• Adoption of mechanisms to monitor and evaluate system performance

The principal bodies and institutions that comprise the R&I governance system include institutions and Bodies are the following:

The National Board for Research and Innovation (NBRI), the Chief Scientist, the Directorate for Research and Innovation (departmental unit of the Directorate General for European Programmes, Coordination and Development – DG EPCD), the Committee of Ministry Research and Innovation (R&I) Coordinators under the Chairmanship of the Chief Scientist and the Research and Innovation Foundation (RIF).

R&I governance is deployed as part of an integrated approach at strategy, policy, operational and policy recipient levels, under the competencies of the Minister of Finance and the operation of the Research & Innovation Foundation (previously Research Promotion Foundation) as the executive arm of the Government for R&I-related issues under the Chairmanship of the Chief Scientist.