RISE launches with a clear goal: ‘Reduce youth unemployment and brain drain’

Innovation News

RISE funding agreement of €15 million by the European Commission was officially signed during the launch ceremony.

The role of the Research center on Interactive media, Smart systems and Emerging Technologies (RISE) will be decisive in the implementation of the targets for the transformation of Cyprus into a regional center of applied knowledge, said the President of the Republic of Cyprus Nikos Anastasiades at the launch ceremony of RISE on the 29th of November.


President Anastasiades addressed the launch ceremony of the RISE Center, which took place at ‘Stoa Nicosia’ venue, next to the Old Municipal Market of Nicosia that will house RISE in the future.

"RISE will contribute to attracting investment and upgrading Cyprus's prospects for innovative research and entrepreneurship, while creating additional jobs," said President Anastasiades.


The Mayor of Nicosia, Constantinos Yiorkadjis, said that RISE demonstrates the necessary role of local authorities in the effort to promote knowledge and science through the synergies of public and private organizations.

He also said that the creation of RISE next to the buffer zone, aims to promote scientific research, irrespective of policy, and to attract the innovative business community along with the start-ups and to contribute to the revival of the region.

Present at the event was a representative of the European Commission, as well as representatives of the project consortium, coordinated by the Nicosia Municipality and partners of the University of Cyprus, Cyprus University of Technology, Open University of Cyprus, Max Planck for Informatics in Germany and University College London of the United Kingdom.

Taking the floor, the Director-General of European Commission DG Research and Innovation, Robert - Jan Smits, said: “The Commission is proud to invest in this project, which has been selected through hundreds of proposals based on the criteria of efficiency and excellence”.

The Scientific Coordinator of RISE, Associate Professor Yiorgos Chrysanthou said that the original team will be made up of academics from the institutions involved as partners in the project. "But also we plan to have about 120 employees within the center in the next few years, contributing to reducing youth unemployment and brain drain”, he said.


Short interventions were also made by Rectors and representatives of the three state universities. The Rector of the University of Cyprus, Constantinos Christofides, wished RISE to be the meeting point of the scientific world, Cyprus University of Technology Rector Andreas Anayiotos expressed the support of the academic institution to the co-ordination team and the partners, while the Vice President of the Administrative Committee of Open University of Cyprus, Charalambos Prontzos, stated confident that RISE will contribute to the establishment of Cyprus as a center of development and innovation.

Representatives of University College London and Max Planck also spoke at the event, while Mr Yiorkadjis and Mr Smits signed the award agreement of the European Commission for funding RISE.

Present at the event were Ministers, members of the Government and Parties, Ambassadors of Foreign Countries, representatives of organizations and institutions, as well as members of the academic community, followed by a roundtable discussion on the role of innovative cities and academic institutions in driving innovation and economic development.


Watch the whole ceremony on the video below.

Watch our founder Panis Pieri testing the multiplayer VR Tour of RISE Cyprus powered by SilverSky3D! 

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