The Committee on Research, Innovation and European programs of the LCCI has actually made significant progress. The Committee supports the effort to establish Service Centers for Research and Innovation in the local Chambers in cooperation with the CCCI and to that end it has completed a thorough technical and economic study to be submitted to the relevant government departments for processing. At the same time it promotes the implementation of European programs, the interconnection between CUT alumni and the market, but most importantly the implementation of the Technology Park in Limassol.

The Committee in cooperation with the Ministry of Energy, Trade, Industry and Tourism has played a leading role in developments regarding the creation of the Science and Technology Park, to the preparation of tender notice for interested investors. Additionally it managed to implement 3 European funded programs: EAPPREN project under the Erasmus+ (Capacity Building for Intermediary Organizations through e-learning) with a budget of € 597,000 in order to transfer expertise in Chambers to support learning in SMEs, the AppHelp4SMEs project with a budget of € 380,000, which aims to provide information and tools for SMEs that want to take on apprentices, and SEEWBAN for female entrepreneurship

In 2016 the Memorandum between the Limassol Chamber of Commerce and the Cyprus University of Technology, which is the policy framework of a strategic alliance between the 2 organizations in the accomplishment of common goals and objectives, was renewed. Also, apart from its participation in several international and European meetings on innovation, the LCCI has presented proposals for development of the Blue Economy and Green Development, implementation of smart technologies and practices for the cities, Energy and Tourism, which await for approval.

The Commission (photo) consists of:
Kostas Galatariotis -President of the Limassol CCI
Dr. Tasos Kounoudes- Member of the Board of the Limassol CCI
Nicolas Iordanou - Member of the Council of CUT and Senior Officer of the Limassol CCI