The Research & Innovation Foundation (RIF) of Cyprus has announced a new €41.15 million funding initiative aimed at accelerating the country’s transition into a leading hub for research, technology, and innovation in Europe. The comprehensive package, announced by RIF General Director Theodoros Loukaides, represents one of the most significant investments in Cyprus’s research and development ecosystem to date.
Four Strategic Programmes Target the Innovation Pipeline
At the core of the announcement is €24.25 million allocated across four targeted programmes, each addressing different stages of the innovation lifecycle:
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STEP (Scale to Production) – €10 million
The first programme of its kind in Cyprus, STEP supports businesses transitioning from product development to full-scale production with international market ambitions. Individual proposals may receive up to €2 million. Application deadline: September 5, 2025.
SEED (Startup Acceleration) – €3 million
This programme provides early-stage startups with up to €500,000 per company to develop globally competitive products and services. Application deadline: September 12, 2025.
INNOVATE (Market Expansion) – €3.2 million
Designed for established businesses, INNOVATE offers up to €1 million per project to support product enhancement or expansion into new markets. Application deadline: September 9, 2025.
BOOST (Certified Innovation Support) – €2 million
A hybrid co-funding scheme aimed at innovation-certified companies that have already secured private investment. Application deadline: December 12, 2025.
Government AI Initiative Signals Public Sector Digital Transformation
In collaboration with the Deputy Ministry of Research, Innovation and Digital Policy, RIF is launching a €5 million “AI in Government” programme. The initiative, which was initially piloted within the Department of Meteorology, aims to develop AI solutions for public sector challenges.
Described by President Nikos Christodoulides as a flagship action for 2025, the programme positions Cyprus at the forefront of AI adoption in government, with the potential to set a benchmark across the EU.
Research Excellence and Infrastructure
Beyond enterprise funding, RIF is investing €16.9 million to strengthen national research capabilities and shared infrastructure:
- Postdoctoral Programmes: €4.6 million (launching September 2025)
- Excellence Hubs: €3 million (launching September 2025)
- OPENINFRA: €7.5 million to support open-access advanced research equipment for universities, research institutions, and businesses
- Proof of Concept: €600,000 in total budget, offering up to €40,000 per project for advancing industrial applications (applications due August 1, 2025)
An additional €350,000 has been allocated to relaunch Innovation Vouchers to enhance the competitiveness of Cypriot SMEs. RIF has also announced a new support programme for aspiring startup founders to be released later this year.
Expanding European and Global Collaboration
Cyprus continues to strengthen its role in international research through programmes such as PRIMA (focusing on agri-food and water innovation) and CONCERT Japan (for climate change mitigation).
The country’s Horizon Europe performance is equally impressive: 229 Cypriot entities have secured a total of €320.8 million, positioning Cyprus among the EU’s more agile participants. RIF supports international collaboration through National Contact Points and technical advisory services.
A Strategic Vision for Economic Transition
This €41.15 million funding wave aligns with Cyprus’s broader economic strategy to evolve from a services-based model toward a sustainable, knowledge-driven economy. By investing across the entire innovation pipeline, from early-stage research to industrial-scale production, Cyprus is building a self-sustaining ecosystem designed to compete with more established European innovation centers.
Interested parties can find full programme details and application materials at www.research.org.cy. RIF offers ongoing information sessions, and recently launched a multilingual chatbot to assist in both Greek and English.
Applicants may also contact RIF directly via phone at +357 22205000 or email: info@research.org.cy.
