business innovation — The Research and Innovation Foundation (RIF) has launched a new initiative to foster business innovation in Cyprus, named ‘Enhancing Business Capacity for New Product Development’. This programme aims to provide support for eligible businesses, offering funding of up to €30,000 per project.
Open to companies across various sectors, the programme targets those with a minimum of 10 full-time employees who are keen to invest in developing new products or services. This initiative is an excellent opportunity for businesses looking to expand their offerings and enhance their market competitiveness.
Business innovation: Funding and Application Process
The total budget allocated for this programme is €580,000, reflecting RIF’s commitment to stimulating economic growth through innovation. The funding is designed to support projects that demonstrate potential for significant impact in their respective industries.
Businesses interested in applying will benefit from a simplified submission process, ensuring that evaluations are conducted swiftly to facilitate timely support. Proposals must be submitted by Friday, October 3, 2025, at 13:00, exclusively through the IRIS Portal, making the process accessible for all eligible applicants.
Contact and Support
For further information, businesses can reach out to the RIF Partner Support Centre via email at [email protected] or by phone at 22205000. This resource is available to assist potential applicants with any queries regarding the programme and application process.
