Celebrating Cyprus’ Leap in the Global Innovation Index 2024

The Global Innovation Index (GII) 2024 is out, and Cyprus is making waves, jumping to 27th place globally! That’s a big deal, considering we’re now ahead of countries like Spain and the UAE.

But while innovation is thriving, global funding for it has been shrinking, with growth in research and development slowing down. It’s a mixed picture—progress in renewable energy and battery tech is promising, but the drop in innovation financing, especially in regions like Africa and Latin America, is a concern.

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This year’s GII also highlighted the rise of social entrepreneurship, where innovation meets social impact. From tackling deforestation in Latin America to improving road safety in South Asia, it’s inspiring to see how creativity is solving local and global problems.

Cyprus’ rise in the rankings is a proud moment, but it’s also a reminder that there’s more to do. We have to keep pushing for innovation, supporting businesses, and protecting ideas—because that’s how we stay competitive and thrive in the long run!