RIF’s €2 Million Fast Track Innovation Programme: A Boost for Cypriot Businesses

by News Editor

March 10, 2025

The Research and Innovation Foundation (RIF) has unveiled an exciting opportunity for Cypriot businesses. Their Fast Track Innovation programme promises to be a catalyst for local companies looking to accelerate their growth and global presence. With a significant budget of €2 million, the initiative is set to fuel the development and commercialization of groundbreaking products and services.

Who Can Benefit?

This programme is open to innovative enterprises in Cyprus across various sectors, aiming for swift growth and international exposure. Eligible businesses must already be operational with a minimum annual turnover of €200,000, employ at least four people, and have products or services at the pilot stage.

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Funding and Timelines

Each project may receive up to €200,000 in funding, designed to be executed within 9 months. Applications are due by April 30, 2025, at 13:00. This timeline is stringent owing to additional resources from the Recovery and Resilience Plan (RRP), concluding by June 2026.

Additional Support And Information

An informative online seminar will be conducted on March 14, 2025, at 11:00 am. Participants can submit their proposals via the IRIS Portal. For more details, contact RIF‘s support team by email or phone.

Explore the transformative power of innovation with RIF’s latest initiative and potentially position your business among Cyprus’s success stories. Could your enterprise be the next big thing?

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Cyprus Records 3.1M Guest Nights In Q3 2025

by THEFUTURE.TEAM

April 2, 2026

Cyprus recorded 3.1 million guest nights in short-term rental accommodation in the third quarter of 2025, according to Eurostat. The data reflect bookings made through online platforms.

Record Performance In Q3 2025

Between July and September 2025, guest nights reached 3,104,502 across platforms, including Airbnb, Booking.com, and Expedia. The volume highlights the role of digital booking platforms in Cyprus’s tourism sector.

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Continental Trends Bolstering Digital Tourism

Across the EU, short-term rental activity also increased. In the fourth quarter of 2025, total guest nights reached 172.30 million, up 10.90% compared to the same period in 2024 and 30.20% higher than in 2023. For the full year, online platforms accounted for 951.60 million nights in 2025, representing an increase of 11.40% year on year and 32.40% compared to 2023.

Regional Destinations And Competitive Dynamics

Tourism activity remains concentrated in southern European regions. Croatia’s Jadranska Hrvatska recorded 27.70 million guest nights, followed by Spain’s Andalucia with 19.50 million and France’s Provence-Alpes-Côte d’Azur with 16.90 million. Cyprus is not among the top 20 EU regions by volume, though its figures remain notable relative to its size.

Economic Implications And Forward Outlook

Tourism continues to play a key role in Cyprus’s economy, with online platforms accounting for a growing share of bookings. Eurostat data indicate continued expansion in digital tourism, with implications for policy planning and investment across the sector.

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