The Board of Directors is the highest governing body of the Foundation and consists of nine (9) members as follows:
- Chief Scientist, ex-officio, as President, with a term of office until the end of the term of the President of the Republic, and
- eight (8) supra-partes members, appointed by the Council of Ministers, two of whom come from the Public Service and two at the suggestion of the Synod of Rector of Cypriot Universities.
The term of office of the Members of the Board of Directors is five years with the possibility of reappointment. Supra-partes members participate in their own capacity and are highly respected personalities with a broad knowledge of research, technological development and innovation.