An Innovation Zone is an area reserved for the establishment of innovative businesses and research entities engaging in rapidly-developing innovative activities, relying mainly on synergies, thus contributing to the economic development of the wider region.
Its aim is to attract direct foreign investment and house economic activities which, due to their focus on knowledge and cutting-edge technologies, are able to provide the country’s economy with a new boost and orientation.
Throughout the world, Innovation Zones function as magnets for large and small enterprises, or for the research and development departments of large enterprises, which – in order to succeed – require collaborations, highly skilled administrative and scientific staff, as well as a supportive financial and tax environment.
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