Breaking news

€10 Million Funding Pushes Cypriot Innovation into High Gear

by News Editor

June 16, 2025

As part of a landmark effort to bolster the innovation and production capabilities of Cyprus-based startups, the Research and Innovation Foundation (RIF) has launched a major funding program, “STEP: Creating State-of-the-Art Production Facilities for New Products and Services” with a hefty budget of €10 million.

Set against the backdrop of the government’s commitment to economic reform as outlined in the 2025 Governance Program, this initiative underlines an enduring strategy aimed at fortifying the country’s industrial foundation.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

The program aspires to convert innovative ideas into high-value products or services by facilitating the development of contemporary production facilities—a sectoral push that promises broad commercial viability.

Who Can Benefit?

Cypriot businesses of all sizes looking to enhance their production capabilities can partake in this groundbreaking financial opportunity. Each project could receive up to €2 million, covering expenses from facility establishment to staff training.

The new funding opportunity aligns with the EU’s Strategic Technologies for Europe Platform (STEP) and is aimed at industries focusing on advanced digital technologies, clean technologies, and biotechnology.

General Director of RIF, Theodoros Loukaidis, emphasized, “STEP strategically invests in the evolution of Cyprus’s research and innovation ecosystem and industrial capabilities, empowering companies to transition from development to production, thus amplifying their global market presence.”

The program is open for proposals until September 5, 2025. For more details, interested parties can contact RIF’s Support Service at 22205000 or email support@research.org.cy.

The Future Forbes Realty Global Properties

Sklavenitis Cyprus Sets A New Standard For Employee-Centric Benefits

by THEFUTURE.TEAM

September 12, 2025

Investing In Human Capital

In a bold move that underscores the growing importance of human capital in today’s business landscape, Sklavenitis Cyprus has taken innovative steps to ensure its workforce is both valued and supported. The supermarket chain has introduced a policy to pay a 14th salary to all employees—including those from Papantoniou Supermarkets—cementing its status as the sole retailer in Cyprus to implement such a comprehensive benefit.

A Significant Investment In People

This initiative is far from symbolic. With an estimated total cost of €2 million, it represents a committed investment in the company’s most valuable asset—its people. By providing an additional salary, Sklavenitis reinforces a culture of inclusivity and fairness, acknowledging every employee’s contribution to its success.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Robust Benefits For Long-Term Stability

Complementary to the 14th salary, the company has launched a robust benefits program designed to address both financial and personal security. An Automatic Cost of Living Adjustment (ATA) of 12.56 per cent ensures that wages remain aligned with inflation, safeguarding real income stability for its team members.

Comprehensive Health And Life Support

Sklavenitis further enhances employee welfare through access to a Group Life and Health Insurance Plan and a Provident Fund co-funded by the employer. These measures not only provide immediate protection but also empower employees to plan confidently for the future.

Exclusive Perks And Incentives

The company extends its commitment beyond conventional benefits by offering store discounts, a birth allowance, and holiday gift vouchers valued at €100 during both Easter and Christmas. These additional perks enhance employee satisfaction and underline Sklavenitis’ people-first ethos.

A Strategy For Mutual Success

In an industry where employee engagement directly impacts customer satisfaction, Sklavenitis’ comprehensive approach stands out as both a progressive and strategic business decision. By investing in its workforce, the company not only nurtures a supportive workplace but also drives superior corporate performance, setting a new benchmark for responsible employment practices in Cyprus.