In what is being considered a great news for the Cypriot and the European tech scene, Natasa Pilides, Deputy Minister of Shipping has announced that the Cyprus Marine and Maritime Institute (CMMI) along with other projects that will form the groundwork for Larnaca Municipality’s Blue Growth.

The projects will have experts from Massachusetts Institute of Technology (MIT) and the MaRITeC-X project team.

MaRITeC-X is a special project that has its focus on shipping and marine innovation and research and aims to establish the CMMI on the island country.

The ambitious project has been lauded by policy makers and academics from Cyprus and beyond. Besides Pilides’ elaborate description of the several social and economic benefits that Cyprus would stand to gain from this entire arrangement, Nicholas Makris from MIT emphasized on how Cyprus, with its superior offshore territory would be benefited not just economically and socially, but culturally and intellectually.

Constantinos Christofides, Rector of the University of Cyprus said that the project had great potential and should be funded by the government itself – if the EU fails to do so.