Keynote speech by the Minister of Energy, Commerce and Industry, Mr George Papanastasiou, at the EUIPN Annual Cooperation Meeting

From:

Ministry of Energy, Commerce and Industry

06/05/25 14:03 | Speech / Address | Energy, Commerce and Industry

“Europe’s Innovation Imperative: The Next Frontier for EU Business”

On behalf of the Government of the Republic of Cyprus, it is my pleasure and great honour to welcome you all to Cyprus and especially to the vibrant city of Limassol, for this year’s European Union Intellectual Property Network (EUIPN) Annual Cooperation Meeting.

We are gathered here not only as officials and experts, but as stewards of something vital to Europe’s future: innovation and the systems that protect, empower, and scale it.

The subject of my speech today is “Europe’s Innovation Imperative: The Next Frontier for EU Business”. This is something that touches the very core of what makes the European project competitive, cohesive, and forward-looking. And at the heart of this imperative lies a powerful, strategic enabler ‒ intellectual property (IP).

If innovation is the engine of economic growth, IP is the fuel that keeps it running, as it protects the output of creativity, encourages investment, and transforms ideas into marketable assets.

From patents and trademarks, to designs, geographical indications, and trade secrets, the IP system provides the legal framework that rewards risk-taking and drives progress. But it also does something more: it creates trust.

Trust that inventors will benefit from their breakthroughs.
Trust that companies can invest in Research and Development with legal certainty.
Trust that innovation in Europe is worth the effort, because IP rights are respected, protected, and enforced.

This trust is built daily through the coordinated work of national and EU-level institutions and, of course, through the collaboration of all of you in this room.

The EUIPN has made impressive progress in harmonising tools, services, and procedures across the Union. These efforts must continue and accelerate, because the challenges ahead are more complex than ever.

As highlighted in the Draghi Report on the Future of European Competitiveness published last year, Europe must strengthen its capacity to innovate and scale, not just to compete globally, but to shape its own destiny. In this regard, the report underlines that intellectual property is not a peripheral issue, but a core infrastructure for ensuring technological sovereignty and securing long-term prosperity.

Equally, the European Commission’s Competitiveness Compass makes clear that the way forward requires bold investment in innovation ecosystems, intangible assets, and resilience through IP. These tools are central pillars — not footnotes — in the strategic architecture of a competitive Europe.

To achieve our goals, we must offer continuous support to Small and medium-sized enterprises (SMEs), who often lack the resources to navigate the IP system, but have the ideas that can power local economies.

We must help start-ups secure their intangible assets from day one, turning knowledge into capital and competitiveness.

We must ensure that green and digital innovations are not only created in Europe, but retained and scaled here.

And above all, we must build a truly accessible and digital IP environment — one that speaks the language of today’s entrepreneurs.

I must point out here that in Cyprus we understand the value of innovation and IP. Despite our country’s small size, we have a dynamic start-up scene, strong universities, and a growing base of knowledge-intensive firms.

The Department of the Registrar of Companies and Intellectual Property, of the Ministry of Energy, Commerce and Industry, has, in fact, taken significant steps in recent years towards modernising IP services, improving transparency, and aligning with EU best practices.

We are investing in awareness campaigns, digital platforms, and policy reforms, because we know that a well-functioning IP system is a necessity for national and European resilience.

Dear friends,

As we talk about innovation, we must always keep in mind that it must serve a greater good.

Whether we are developing Artificial Inteligence technologies, green energy solutions, new pharmaceuticals or creative content, innovation must remain ethical, inclusive, and sustainable.

IP is not just a legal tool. It is a strategic instrument for shaping the kind of Europe we want. A Europe that leads, competes, and inspires.

I would, therefore, like to conclude my speech by thanking the EUIPO and all EU member state Intellectual and Patent Offices represented here, for your commitment to collaboration. The innovation imperative is not a solo act. It is a collective challenge and a shared opportunity, and we must work together to ensure that the next frontier for EU business is not only innovative, but also protected, respected, and truly European.

Once again, welcome to Cyprus. I wish you all a productive and insightful meeting.

Thank you.

(GA/KA/AS/IA)

Keynote speech by the Minister of Energy, Commerce and Industry, Mr George Papanastasiou, at the EUIPN Annual Cooperation Meeting

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