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Christodoulides Ventures to London: Repatriating Cypriot Talent

Launch of the ‘Minds in Cyprus’ Initiative

President Nicos Christodoulides is on a mission to London to spearhead the ‘Minds in Cyprus’ initiative, which aims to bring talented Cypriots back to their home turf.

Strategic Initiative for a Knowledge-Driven Economy

As Government Spokesperson Konstantinos Letymbiotis highlighted, this critical initiative aligns with Cyprus’s strategic transition toward a knowledge economy, leveraging the expertise and skills of its diaspora.

Growing Enthusiasm Among Young Cypriots

The event, co-hosted by the Presidency, Invest Cyprus, and KEVE, has already garnered interest from over 750 UK-based Cypriots, including scientists and professionals keen on returning to their roots.

Showcasing Opportunities in Cyprus

Participation from senior executives of 20 major Cypriot companies and centers of excellence illustrates a firm belief in Cyprus’s growing sectors of innovation, entrepreneurship, and research. This highlights the island’s readiness to invest in creativity and skills.

Comprehensive Action Plan by the President

The President is set to unveil a holistic Action Plan for Talent Repatriation, crafted through a unified strategy by relevant ministries. This plan focuses on employment, innovation, tax incentives, education, and family integration, making it easier for Cypriots abroad to bring their promising careers back home.

The Road Ahead

The event includes thematic roundtable discussions and an open dialogue, marking the beginning of a collective effort to transform brain drain into a journey of opportunities and growth for Cyprus.

Union for a Brighter Future

Christodoulides, accompanied by various high-ranking officials, embodies the national drive to reunite Cyprus with its brightest minds, steering the nation towards a prosperous and innovative future.

RIF Unveils €16.2 Million Support for Cyprus’ Startups and Established Enterprises

RIF Unveils €16.2 Million Support for Cyprus’ Innovators

The Research and Innovation Foundation (RIF) has announced substantial funding of €16.2 million aimed at propelling Cyprus’s established and emerging businesses into the competitive global market. This funding initiative, targeting both seasoned enterprises and budding startups, is designed to cultivate the swift production of innovative products and services.

Upcoming Funding Calls

The funding will be distributed across three programs: INNOVATE and SEED, with a combined budget of €6.2 million, and the STEP programme, commanding a distinct budget of €10 million for expanding facilities and production lines. These programs collectively aim to supercharge competitive advantage on the international stage.

Focus Areas and Participation

The INNOVATE program welcomes applications from companies in the pilot or market-testing stages, offering up to €1 million per project to enhance commercial production and worldwide distribution capabilities. Simultaneously, the SEED program directs its €3 million budget toward nurturing dynamic, startup ventures, each eligible for up to €500,000 to fast-track their competitive edge internationally.

A notable requirement for INNOVATE program applicants includes submitting audited financial statements and employer obligation documents from the Social Insurance Services.

STEP Program: Shaping Cyprus’ Innovation Future

The STEP program aligns with EU regulations, supporting Cyprus enterprises in developing advanced technologies, efficient green technologies, and biotechnologies. This initiative is anticipated to broaden Cyprus’s production infrastructure significantly.

Getting Ready

Potential participants should promptly prepare their proposals and gather necessary documentation to ensure their submissions upon the open call. Discover how enterprises are leveraging AI innovations to enhance their competitive stance.

Funded by the Republic of Cyprus and the European Regional Development Fund under Thalia 2021–2027, these initiatives promise a well-rounded boost to local innovation.

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