The core objective of this strategic pillar is the enhancement of knowledge transfer among the science community, the public sector, the business sector and the society. Facilitating commercial exploitation of new knowledge and technology, leads at the development of competitive and added-value products, services and processes and support social innovation.

Policy measures and structural reforms to achieve objectives revolve around the following:

• Redefine the mission of public and private academic and research performing organisations to include knowledge transfer along with education and research. Setting in place effective institutional IP policies and adopting appropriate legislative policies and regimes will encourage research exploitation and the creation of faculty spin-offs and startups. Formulating a central, Knowledge Transfer Office, providing support to the main Universities and research organisations in Cyprus, and funded through public funds, will provide a cost-efficient solution for the support of academic technology transfer, built on the principles of acquiring a critical mass of research output and economies of scale.
• Identify and make optimal use of public investments in research infrastructures, by facilitating access and serving as links among the major innovation actors (universities, enterprises, incubators, accelerators, etc) and as a basis to develop clusters and collaboration networks.
• Encourage enterprises to invest in digital transformation, as well as in research and development (R&D) activities, either implemented in-house, or in collaboration with other companies, universities or research institutions, by applying incentive schemes and by leveraging synergies with business associations, chambers and federations in creating the desired culture.
• Improve the innovation capacity of the business sector, as well as capacity for scaling-up entrepreneurial activity.
• Promote social innovation and social entrepreneurship to enhance the enterprises and ecosystem’s focus on the social impact of their activities, while utilising innovativeness and agility of the business sector in addressing societal challenges.
• Simplify procedures and remove unnecessary “red tape” in programs, incentives and measures addressing the business sector.