The Cyprus Institute (CyI), is a non-profit research and education institution with a scientific and technological orientation. Formally established in 2005, CyI started its operations in 2007. The CyI is organized around two major complementary academic structures: the College and the Research Centers. The Research Centers are being developed first in conjunction with post-graduate studies. The undergraduate education will be implemented in a second phase. The Institute as a whole is based on this duality. The initial planning for the establishment of the Cyprus Institute took place from 2000 to 2004 under the aegis of the Cyprus Development Bank, led at the time by J. Joannides and A. Mouskos. They, aided by A. Stamatis, the CEO of the Bank of Cyprus Oncology Center, together with a team of scholars shaped the core vision and undertook the coordination, research and planning of the project. The team of academics consisted of: The planning phase was led by Prof. Costas N. Papanicolas, the current President of the Institute and CEO of CREF.