Founded in 2010, CARIE is a non-profit association that promotes Industrial Research and Innovation in Cyprus and the interests of Cypriot Innovative technology companies. The founding objectives are:

- Safeguarding and promotion of research and innovation enterprises common interests, along legal, financial, social and ethical perspectives.

- Cooperation with governmental organisations responsible for the design of the Research and Innovation National Strategy and its promotion to enterprises in favor of increasing their competitiveness.

- Cooperation with Cyprus Government and other public and non-governmental organisations, aiming at the dissemination, development and promotion of scientific and technological research and innovation.

- Design and support of research and innovation promotion programmes, targeting enterprises as beneficiaries, and focusing on their needs for competitiveness increase in the local and international market.