Innovation Centre at Franklinos Roosevelt Avenue

Limassol Municipality is proceeding with the establishment of an Innovation Centre at the municipal infrastructure premises on Franklinos Roosvelt Avenue within 2021.The Centre’s mission is to support new businessmen and interested bodies to bring forward the challenges of Blue Economy and develop the start-up ideas for new technologies, services  and products.

The Centre will operate in direct co-operation and connection with the two universities of Limassol that have departments in maritime studies as well as with other similar professional bodies and research centres. The construction of the Centre, with a budget cost of 350,000 euro, starts immediately after today’s signature of the contracts between Nicos Nicolaides, the Mayor of Limassol and Demetris Karpozilos, the Chief Executive Officer of Karpozilos  Constructions and Developments Ltd.

Following the signature of the contract the Mayor of Limassol stated that “Innovation is of vital importance for the sustainable development of Blue Economy, which in turn supports entrepreneurship, contributes to the protection of the coastal and sea environment, and creates opportunities for employment and strengthening the social welfare for the residents of Limassol. The Centre is expected to give a push to the efforts for the further development of Blue Economy, since Limassol is host to more than 200 companies that offer maritime services, maintains a port of multiple uses, a modern recreation marina and a large tourism and industrial activity. It is also noted that Limassol is the largest centre for ship management in the   European Union, with a commercial fleet of more than twenty million of mixed tonnage, and is among the cities that have a prominent role in the shaping of worldwide maritime policies with a strong presence and strong voice in all the maritime fora and international organizations”.

This project is included in the projects that are co-funded by the “European Fund of Regional Development of the European Union” of the Business Programme “Competitiveness and Sustainable Development” with priority axis the “Sustainable Urban Development” of the scheduled period 2014-2020, of the National Resources and the Municipal Fund.