The Cyprus Institute of Technology was founded in 1992 by the Government of President Vasilleiou and registered as a private non profit Institute under the 1972 law of Clubs and Institutions. It was established as a response to the challenging and highly competitive environment that the Cyprus economy was facing.
The Cyprus Institute of Technology was established by three co-founders:
- Ministry of Commerce Industry and Tourism
- Cyprus Chamber of Commerce and Industry (KEBE)
- Employers and Industrialists Federation (OEB).