Innovation Drivers in the Cypriot Food and Beverage Industry

The Food and Beverage industry, a leading sector of the Cypriot manufacturing industry is under investigation in our study. The influence of innovation as a development vehicle is considered and factors affecting it have been investigated. In order to define and introduce these factors affecting innovation in the Cypriot manufacturing sector a nationwide survey is carried out. All five prefectures (Nicosia, Ammochostos, Limasol, Larnaca and Paphos) are covered and a sample of 5% of the whole Food and Beverage sector is surveyed. A closed questionnaire, made of five sections is used in order to collect information that will be used in a second stage in order to introduce the innovation factors affecting industrial development. The results illustrate the gradual adoption of a pro-innovation culture in the Cypriot Food and Beverage Industry. Among others it was shown, that companies that have proceeded with product innovation, process innovation and organizational innovation have experienced the impact of innovation on their organizational performance.