The Cyprus Research and Innovation Foundation (RIF) has unveiled a fresh funding initiative, injecting €300,000 into the enhancement of innovation support structures, such as incubators and accelerators for start-ups. This move is set to bolster the local ecosystem, providing essential services that are pivotal for market penetration, income generation, and attracting private investment.
Strengthening Innovation Support Structures
The newly announced funding initiative aims to elevate the quality of services offered to start-ups. Each start-up that joins a specialised support programme can receive up to €10,000, while support structures themselves can benefit from funding up to €100,000. This strategic allocation is designed to ensure that both new ventures and the frameworks supporting them are well-resourced to thrive.
According to the RIF, these services are indispensable for start-ups looking to make a significant impact in their respective markets. By enhancing these innovation support structures, the initiative seeks to create an environment where start-ups can flourish, thereby driving economic growth and innovation within Cyprus.
Interested parties can delve into more details and submit their proposals through the IRIS portal. The deadline for submissions is June 26, 2024. More information can be accessed via the following link: https://bit.ly/4e6l3LC.
This funding initiative is part of a broader effort supported by the NextGenerationEU Recovery and Resilience Facility and the Cyprus Recovery and Resilience Plan. These programmes aim to rejuvenate the economy by fostering innovation and supporting new business ventures.
For further inquiries, interested parties are encouraged to contact the Foundation’s Partner Service Centre at 22205000 or via email at [email protected].
