The objective of the project and of the Nicosia Municipality by maintaining and restoring the building of the Municipal Market, is to create, in the centre of the walled city next to the buffer zone, a pole of development and promotion of entrepreneurship and technology industries, research, and innovation.The building will host functions of the Center of Excellence in Research and Innovation CYENS and is part of the priorities of the Nicosia Municipality’s strategy for Integrated Sustainable Urban Development to promote research, innovation, and entrepreneurship. In the consortium, coordinated by the Municipality of Nicosia, international organizations of high reputation such as the Max Planck Institute of Germany and University College London of the United Kingdom, as well as the three state universities of Cyprus (University of Cyprus, Cyprus University of Technology, and Open University of Cyprus), join forces.