The hub is part of a cross-border network set up by research and funding organizations from 7 different countries, which, apart from Cyprus, include Bosnia and Herzegovina, Estonia, Israel, Luxembourg, Montenegro and Serbia.
The goal of the Startup Hub is to extent the range of services previously provided by EURAXESS, through collaborations and cross-country networking, to support researchers interested in scientific entrepreneurship.
Scientific startup entrepreneurship is a career path in which scientific findings (such as the results of doctoral, postdoctoral or more advanced research, in any area) are transformed into innovative products or services, which may then be validated and improved by early adopters, brought to the market and then continuously scaled up, in terms of product/service quality and coverage.
As part of the EURAXESS Hubs project, our flagship project on academic entrepreneurship was a series of three study visits for R1 or R2 researchers who have already embarked in their startup entrepreneurship journey. The visits took place in the lively capitals of three startup nations: Israel, Estonia and Luxembourg. The tour aimed to will help aspiring sci-entrepreneurs to learn directly from renowned experts and mentors about the challenges and opportunities of the novel careers for researchers and to get in touch with international startup markets and cultures. The tour was organized by IP&D (Israel), University of Luxembourg, Estonian Research Council and MEF, and took place between May and June 2022 by welcoming researchers from Bosnia-Herzegovina, Cyprus, Estonia, Israel, Luxembourg, Montenegro, and Serbia. Find out more here.
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Cyprus is a young but fast developing ecosystem. The 2021 edition of the European Innovation Scoreboard included Cyprus among the 5 EU countries that managed to improve their performance by over 25 per cent. Specifically, Cyprus’s innovation performance recorded the second-best progress in the European Union in 2020. Significant steps in the expansion of the Cypriot ecosystem of Research and Innovation have been achieved in the last few years, with important possibilities for further development, as well as several actions currently taking place in order to widen the culture of innovation and research on the island. The recent pandemic, although creating serious challenges for the society, has at the same time boosted research and innovation and has highlighted its importance and its role in finding solutions for the society. The rate of developing and adopting innovation through the pandemic has significantly increased in many fields in Cyprus, including health and digital technologies.
Some of the strong assets in the Cypriot innovation ecosystem include its excellent human resources, the strong participation of Cypriot researchers in international scientific publications, and the collaborations developed between small and medium enterprises, as well as other entities of the R&I ecosystem.
The RIF plays an instrumental role in supporting the local innovation ecosystem. In the last 2 years, more than €45M of funds have been allocated for Innovation through the RIF’s innovation programmes. Specifically, the RIF has already announced 15 competitive calls for Innovation Funding Programmmes, including 3 calls focus on COVID-19. Apart from providing funding, the aim of the RIF is also to offer support services that allow researchers and innovative businesses to move forward with their ideas and bring products and services to the market.
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The Research and Innovation Foundation (RIF) is the national authority in charge of supporting and promoting research, technological development and innovation in Cyprus. Through innovative actions and programmes, the RIF reinforces the domestic Research and Innovation (R&I) ecosystem, contributes to strengthening the competitiveness of the Cypriot economy and develops cooperation and networking with the international research and entrepreneurial communities.
The RIF was established in 1996, following an initiative by the Government of the Republic of Cyprus, with the initial name of Research Promotion Foundation (RPF). Since its establishment, the RIF has developed widespread activities at the National, European and International levels, with a strong focus on the development of national research funding programs, as well as the representation of Cyprus in European and International programs and organizations. Since 2007, the Foundation expanded its range of activities to also support and advance Innovation in Cyprus. Following the overall restructuring of the RTDI System in Cyprus in 2018, the Foundation was renamed to Research and Innovation Foundation (RIF), and took over the role of the executive arm of this System.
Our Activities
The RIF's activities cover three main areas:
The RIF designs, launches, funds and monitors national RTDI funding programmes, participates in public-to-public partnerships, and launches a number of awards/competitions to nurture an R&I culture in Cyprus.
The RIF provides a range of services to the local R&I ecosystem to support the participation of Cypriot organizations in the EU’s framework programmes for R&I, including Horizon Europe, as well as COST and other programmes and initiatives. Within this scope of activities, the RIF also coordinates as Bridgehead Organization the EURAXESS activities in Cyprus, while also hosting one of the national EURAXESS Service Centers, offering information and advice to mobile researchers, both foreign researchers who wish to work in Cyprus, as well as Cypriot researchers wishing to work abroad.
Aiming to enhance the local innovation ecosystem, the RIF provides a series of valuable innovation services to local organizations, for example through the Innovation Factory, the Enterprise Europe Network Cyprus and the Knowledge Transfer Office.
The latest Call for Proposals for the RIF’s Innovation Programmes was launched in December 2021. In this Call, €13 million were earmarked for start-ups, and were part of the RIF’s broader €150 million R&I funding framework for the period 2021-27, as well as one of the first to be presented under "Cyprus Tomorrow", Cyprus’s recovery and resilience plan. The €13 million set aside for start-ups is the sum of three different funding programmes, all sharing the primary goal of strengthening the start-up and innovative enterprise ecosystems in a way that is beneficial to Cyprus’s long-term socioeconomic standing. The three funding programmes are the following, the first two of which are particularly oriented towards startups:
The PRE-SEED Programme aims to support the creation and initial development of innovative startups which intend to develop innovative products and services with global market penetration prospects. The Programme aims to support startups with international orientation with significant prospects for rapid development, which are still in the idea stage and their product or service is not yet fully developed.
Funding to beneficiaries covers the investigation, evaluation and development of the idea, the development of an initial product / service and the first efforts towards the commercialization of the product / service. More specifically, funding may also cover, amongst others, the initial operation of the enterprise, prototype development, market research, identification of the appropriate business model, business plan, intellectual property protection, investor search, etc.
The Maximum Funding per Project is €100.000 and the Aid Intensity of the Host Organisation is 85%.
To search for Open Calls for Proposals, click here.
The SEED Programme aims to support the rapid development of dynamic and innovative startups which intend to develop internationally competitive products or services, as well as to mobilize private investment funds for this purpose. The Programme aims to support innovative startups which, based on their business plan, aim to attract investment funds and are seeking rapid growth at an international level. Eligible companies may have already been active for a short period of time, carried out a small-scale activity towards commercialization on a test basis, but their product or service has not yet penetrated the market.
The Programme supports every activity that will allow the rapid development of the enterprise and the innovative idea, the attraction of investment and the successful global market penetration of the product / service. In cases where the new product or service is based on new technology, it is expected that the technology falls within a high technological readiness level, having already been validated in the laboratory and relevant environment, and is at least being demonstrated at relevant environment. This also applies to non-technological innovations, accordingly.
The Maximum Funding per Project is €500.000 and the Aid Intensity of the Host Organisation is 85%.
To search for Open Calls for Proposals, click here.
The INNOVATE Programme aims to support existing enterprises from all activity sectors, that will invest in research and innovation, for the development of competitive innovative products or services with quick global market penetration prospects. Moreover, the Programme facilitates the mobility of private investment funds for the support of rapid development innovative businesses.
The Programme aims to support existing enterprises already active in commercial activities, or enterprises that have innovative products / services at a test or pilot phase. Funding is mainly aimed to support the development or optimization of the product / service, the launch of the commercial production, the promotion / marketing, and ultimately the global market penetration of the product.
The Maximum Funding per Project is €1.000.000 and the Aid Intensity of the Host Organisation is up to 65%.
To search for Open Calls for Proposals, click here.
The RIF has recently announced the “Research and Innovation Internships” Call, which invites innovative enterprises to express their interest to host students and young researchers, for the purposes of providing opportunities for preliminary training in Research and Innovation (R&I) activities.
The main objective of this Call is to nurture an R&I Culture in Cyprus, by significantly improving the knowledge and skills of undergraduate/postgraduate students and young researchers in R&I. In the framework of the Call, the RIF particularly encourages innovative enterprises to host students for the implementation of summer internships. Expressions of interest can be submitted by enterprises that have either acquired a certificate of innovative enterprises, or are currently implementing a R&I project funded through the EU’s Framework Programme for R&I or the RIF. Eligible enterprises must be legally established and active in territories under the control of the Republic of Cyprus, in the EU, or any other state recognized by the Republic of Cyprus. The submission of expressions of interest by natural persons is not permitted.
In the framework of the “R&I Internships” Call, enterprises may host undergraduate/postgraduate students and young researchers, regardless of the year of study, while it will also be possible for students from abroad to take part in the internships.
The minimum duration of each internship will be twenty (20) working days, within the period 15/06/2022-30/09/2022, and activities must take place during the working hours of each enterprise.
To search for Open Calls for Proposals, click here.
The RIF hosts all the National Contact Points (NCPs) in Cyprus for Horizon Europe, the EU’s framework funding programme for research and innovation, which runs from 2021 to 2027. One of the new elements introduced by the European Commission in Horizon Europe is the European Innovation Council (EIC), which provides support for innovations with potential breakthrough and disruptive nature with scale-up potential that may be too risky for private investors. It focuses mainly on breakthrough, deeptech and disruptive innovation, targeting especially market-creating innovation. The EIC also supports strategic technology and innovation challenges which will take into account the priorities of the Horizon Europe strategic plan. EIC funds innovation through 3 main instruments:
- Pathfinder funding: for advanced research, supporting early-stage development of future and emerging breakthrough, market-creating and/or deep tech technologies
- Transition funding: to help researchers and innovators develop the pathway to commercial development for promising research results
- Accelerator funding: to support individual SMEs, startups and small mid-caps to bridge the financing gap between late stages of research activities and market take-up, to effectively deploy breakthrough, market-creating innovation and scale-up companies where the market does not provide viable financing
The EIC also funds additional activities such as prizes and fellowships, and business added-value services.
The RIF, as the EIC NCP in Cyprus, supports potential applicants in their proposal preparation process, by organizing infodays and training workshops, as well as providing personalized services and support.
Find out more here or by getting in touch with the EIC NCPs.
The RIF is a member of the Enterprise Europe Network Cyprus (EEN-Cy), which provides free-of-charge, comprehensive consulting services to Cypriot businesses wanting to invest in knowledge, research, technology and innovation. EEN-Cy, the national consortium, has been a member of the European Enterprise Europe Network since its creation in 2008.
EEN-Cy provides information services on financing and legislation issues, on expansion into international markets and finding partners, on technology transfer and innovation as well as support regarding intellectual property right. Services are specially designed for small and medium-sized enterprises, irrespective of their economic activity and are being offered to universities and research centers in Cyprus.
The services provided by the RIF as a partner in the EEN-Cy consortium, particularly focus on Innovation (management) Capacity Building Services:
- Assessing the company’s capabilities for innovation management, using reliable tools widely used on a pan-European level (such as IMP3rove, smEmpower, Innovation Healthcheck).
- Needs/Gap analysis to enhance the company’s the potential for innovation development.
- Design and guidance for the implementation of an Action Plan tailored to the needs of the business.
The Innovation Factory is a new initiative of the RIF, under the auspices of the Office of the Chief Scientist of the Republic of Cyprus. This initiative focuses on the organization of events and activities that support the development of the Cypriot innovation ecosystem. The vision for the Innovation Factory is to provide specially designed workshops, mentoring and coaching services, to startups and innovative companies, innovation capacity assessment services to businesses, networking with investors and other events to support the development of the ecosystem.
Services are available to Early-stage startups/spinoffs, and topics include:
- Startups Key Stages and Financial Development (capital structure, valuation etc.)
- Business Modelling (Business Model Canvas)
- Business Planning
- Go-to-market Strategy
Joint events organized with the RIF's Central KTO will be Open to all local innovation ecosystem actors (startups, researchers, stakeholders etc.), and will include:
- Training by KTO or Other External Experts (depending on the subject)
- Share of best practices by local organizations
The Cypriot Innovation Ecosystem at a Glance:
The Ecosystem in Numbers:
- 10 Universities
- 8 Research Institutes
- 6 Centers of Excellence
- 5 Incubators & Accelerators
- 6+ Innovation & Entrepreneurship Centers
- 250+ Startups
- 4,000+ Entrepreneurs
- 2,200+ Researchers
- 140+ Tech Cos
- 1 NASDAQ Listed Co
To support the creation and growth of startups with international orientation:
- More than €45M Funds announced & allocated for Innovation in the last 2 years
- RIF announced 15 Competitive Calls for Innovative Projects including 3 for COVID-19
RIF Activities and Services for Innovative SMEs and Startups:
- Central KTO
- Innovation Factory
- EEN
Services Provided
The Cyprus Institute of Neurology and Genetics
• Access to funding
• Access to research infrastructures and data
• Creating and maintaining industry partnerships
• General counselling (legal, business, marketing, accounting, financial management)
• Registering and patenting Intellectual Property
• Research project innovation assessment
• Technological mentoring and coaching
The Cyprus Institute
• Access to funding
• Access to international markets
• Access to research infrastructures and data
• Business mentoring and coaching
• Creating and maintaining industry partnerships
• General counselling
• Networking
• Office space
• Registering and patenting Intellectual Property
Open University Cyprus
• General counselling (legal, business, marketing, accounting, financial management)
• Networking (with higher ed, industries, public sector, associations/clusters, other startups, cohorts)
• Office space
• Information regarding funding opportunities and partner searches
CYENS CoE – Innovation Department
• Creating and maintaining industry partnerships
• Networking (with higher ed, industries, public sector, associations/clusters, other startups, cohorts)
• Technological mentoring and coaching
• Registering and patenting Intellectual Property
• Access to research infrastructures and data
• Access to international markets (through external partners abroad)
CYENS Thinker Maker Space
• Networking (with higher ed, industries, public sector, associations/clusters, other startups, cohorts)
• Technological mentoring and coaching
• Prototyping and Design
• Socio-environmetally sustainable practises and development of creative culture on design and Innovation
CYENS Techub
• Business mentoring and coaching
• General counselling (legal, business, marketing, accounting, financial management)
• Networking (with higher ed, industries, public sector, associations/clusters, other startups, cohorts)
• Office space
University of Cyprus
• Access to funding (including investors, loans, targeted funds)
• Access to international markets (through external partners abroad)
• Access to research infrastructures and data
• Creating and maintaining industry partnerships
• General counselling (legal, business, marketing, accounting, financial management)
• Networking (with higher ed, industries, public sector, associations/clusters, other startups, cohorts)
• Office space
• Registering and patenting Intellectual Property
• Research project innovation assessment (on request)
• Reverse innovation (on request)
• Technological mentoring and coaching (on request)
