Limassol business and research chiefs renew space technology pact

The Eratosthenes Centre of Excellence and the Limassol Chamber of Commerce and Industry (Evel) on Wednesday renewed a memorandum of understanding, reinforcing their long-standing collaboration and strengthening ties between research and business.

The agreement was signed by chief executive officer Diofantos Hadjimitsis and chamber president Andreas Tsouloftas during the EXCELSIOR Space Industry Day Synergies and Collaboration event, held at the Blue Economy Innovation Centre in Limassol.

According to the announcement, the renewal of the MoU further enhances cooperation between the two organisations, with a focus on linking research activity with entrepreneurship and promoting new opportunities.

“The renewal of the MoU further strengthens cooperation between the two organisations, aiming to connect research with business activity and promote new opportunities related to space technologies, Earth observation and digital innovation,” the announcement said.

During the event, Hadjimitsis highlighted the importance of collaboration between the research community and the business sector.

“At the Eratosthenes Centre of Excellence, we aim for research to be transformed into applications and services that substantially contribute to addressing real challenges of society,” he said.

He pointed to the PRECiRRI precision irrigation digital platform as a key example, noting that it uses Earth observation data and artificial intelligence to optimise irrigation and save water resources in agriculture.

“Through collaborations with the business world, such as this one with the Limassol Chamber of Commerce and Industry, we strengthen knowledge transfer and create new opportunities for innovation and growth,” he added.

From the chamber’s side, president Andreas Tsouloftas emphasised the significance of the partnership, describing it as a source of pride.

“For the Limassol Chamber of Commerce and Industry, it is a great pleasure to collaborate with the Eratosthenes Centre of Excellence,” he said.

He also stressed that the presence of a major research and innovation organisation in Limassol contributes to strengthening the city’s innovation and technology ecosystem.

“We are particularly proud that such an important research and innovation organisation operates in Limassol and contributes to enhancing the city’s innovation and technology ecosystem,” he said.

He added that the renewal of the memorandum “confirms the further strengthening of our cooperation and creates prospects for new business opportunities in dynamic sectors of the economy“.

The announcement further stated that the collaboration contributes to the bolstering of the innovation ecosystem of Limassol and Cyprus, while also highlighting the growing importance of the space economy.

“Through collaborations such as this, the Eratosthenes Centre of Excellence and the Limassol Chamber of Commerce and Industry contribute to strengthening the innovation ecosystem of Limassol and Cyprus, while highlighting the prospects of the space economy and Earth observation technologies as rapidly growing sectors with significant potential for the economy and society,” the announcement concluded.