The calibre of health care in the Republic of Cyprus is improving in leaps and bounds with new specialized medical services and research, as well as the long-anticipated implementation of a comprehensive national health care system, which is set to make the sector more streamlined and cost effective. Most medical professionals in Cyprus are educated at universities in Greece, Russia, the United Kingdom, the United States of America and Western Europe – an influential factor in the strong development of the country’s private sector which boasts an impressive 75 private hospitals and clinics. Cyprus is considered as an ideal destination for both medical research and new venture development due to Mediterranean Climate conditions, accessibility – in the cross sector of three continents, the low tax and IPR incentives as well as the top-tier medical centres.
The main territorial support actors of the business and innovation ecosystem are a privately-owned R&D centre CyRIC, the certified EU|BIC of Cyprus and its incubator Gravity Ventures. Recently the government has appointed a Chief Scientist who will be the Executive authority for managing all activities including Policies, Incentives and Funding to Research, Innovation and Entrepreneurship.