CARIE

CARIE: Innovation in Action

In Cyprus, Research and Innovation is gaining momentum, with local enterprises increasingly contributing to advanced technological development across multiple industries. This growing dynamic reflects a shift toward a more knowledge-based economy, where innovation plays a key role in national progress.

At the heart of this transformation is CARIE—the Cyprus Association of Research and Innovation Enterprises—which has been driving this progress since its establishment in 2010. Representing a network of 40 pioneering Cypriot companies, CARIE plays a central role in building the country’s innovation ecosystem and enhancing its global competitiveness.

Collectively, these companies have made a significant impact on the Cypriot economy, contributing over €1.8 billion and employing more than 1,000 engineers and scientists—25% of whom hold PhDs. “Our members don’t just export products—they export technologies,” says Dr. Tasos Kounoudes, President of CARIE. “We’re creating joint ventures, transferring know-how, and co-developing advanced solutions with international partners, including in the Gulf.”

CARIE’s member companies bring expertise across a wide range of sectors, including agriculture, electronics, defense, software, materials, and autonomous systems. They are actively involved in over 400 European-funded contracts, highlighting Cyprus’s growing strength in industrial research and development. “We offer cutting-edge, dual-use technologies and a highly skilled talent pool. For investors and companies seeking collaboration in high-tech sectors, Cyprus—and CARIE—are strategic partners,” adds Dr. Kounoudes.