Breaking news

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

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.

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?

Celestyal Cruise Line Revives Mediterranean Operations Amid Strategic Maritime Transit

Celestyal Cruises has returned its two main vessels, Celestyal Discovery and Celestyal Journey, to the Mediterranean following transit through the Strait of Hormuz and the Suez Canal. The return allows the company to proceed with its summer schedule, with sailings from Athens set to begin on May 1.

Strategic Passage And Operational Coordination

The cruise line reported that both vessels completed their critical transit with distinction, enabled by a well-executed plan that prioritized crew safety and meticulous coordination with international authorities. Celestyal’s operations team, led by industry veteran Captain George Koumpenas, collaborated with regional governments and even received oversight from the US Navy, ensuring a secure journey during uncertain times.

Revitalized Itineraries And Commercial Response

With both ships back in operation, the company is resuming its summer programme. Scheduled sailings include a three-night “Iconic Greek Islands” itinerary starting May 1 on Celestyal Discovery and a seven-night cruise covering Greece, Italy, and Croatia from May 2 on Celestyal Journey. Following a temporary slowdown in bookings, the company is preparing targeted pricing and promotional initiatives to support demand during the peak season, with planning also extending into the autumn period.

Leadership Insights And Future Outlook

Lee Haslett, Chief Commercial Officer at Celestyal, said the return of the vessels has supported booking activity. He noted that weekly business volumes have increased, reflecting improving customer confidence. While short-term demand has been affected, the company expects conditions to stabilize, supported by financial resources and travel partner networks.

Coordinated Maritime Collaboration

Close coordination with other cruise operators defined the return journey, with planning carried out in advance to support a controlled and secure transit. Celestyal Journey participated in a convoy of international vessels, contributing to an organized passage through key maritime corridors. This coordinated approach enabled operators to manage risks collectively and maintain operational continuity during a period of heightened regional uncertainty.

Experienced captains and operational crews played a central role, ensuring alignment across vessels and strict adherence to safety protocols throughout the transit. With both ships now back in service and a revised commercial approach in place, Celestyal Cruises is positioned to continue its summer programme while adapting to current market conditions.

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