The newly established Space BIC aims to support space-based entrepreneurship in Cyprus.
- The newly established Space BIC aims to support space-based entrepreneurship in Cyprus.
- For further information, individuals can reach out via email at [email protected] or by calling +357 25002908.
This week, the Eratosthenes Centre of Excellence (CoE) unveiled the launch of Space BIC, a specialised business incubation centre dedicated to fostering innovation in the space sector. With the first call for applications open until October 15, 2025, the initiative seeks to empower startups and entrepreneurs to harness satellite data, space technologies, and geoinformation services.
Space bic: Funding Opportunities for Aspiring Entrepreneurs
Each selected participant or team will have the opportunity to receive up to €50,000 in non-equity de minimis support. This funding aims to assist in developing prototypes, validating technologies, and scaling innovations within the two-year incubation period. The programme will consist of two cycles, with the second cycle set to be announced in mid-2026.
Tailored Support for Business Growth
Support provided by Space BIC will be customised according to the stage of each participant’s business and incubation plan. Services may include access to workspace, infrastructure, expert mentoring, technological guidance, market access, funding opportunities, and assistance with research and development projects.
Who Can Apply?
Eligible applicants include companies established within the last five years, as well as teams or individuals planning to create a company in Cyprus. Applicants must demonstrate a clear relevance to the space sector and a viable business model to qualify for the programme.
The Growing Space Economy
The CoE highlighted the rapid emergence of the space economy as a dynamic frontier of innovation, with applications spanning agriculture, environmental monitoring, security, and smart mobility. Space BIC is positioned to enable Cyprus and the wider region to participate actively in this global transformation, supporting ventures that deliver practical solutions through space-enabled technologies.
Building a Collaborative Ecosystem
The launch of Space BIC is framed as a call to co-create a vibrant space innovation ecosystem, inviting engagement from government bodies, research institutions, educational entities, and private organisations. The Eratosthenes CoE expressed gratitude to the Deputy Ministry of Research, Innovation and Digital Policy for its collaboration and support, which are pivotal to the success of this initiative.
Established through the ‘Excelsior’ project, a Horizon 2020 Widespread Teaming Phase 2 initiative, the Eratosthenes CoE is backed by the European Union, the government of Cyprus, and the Cyprus University of Technology (Tepak). Interested applicants can submit their applications through the designated platform.
For further information, individuals can reach out via email at [email protected] or by calling +357 25002908.
