Press Release

11 August 2023

RIF PRE-SEED Programme: €1.2 million for the creation and development of early-stage startups

The Research and Innovation Foundation (RIF) has announced a new call for proposals under its PRE-SEED programme offering aspiring entrepreneurs and early-stage startups equity-free funding of up to €119,999 and free-of-charge knowledge transfer and innovation support services. The programme supports the further development of innovative ideas, the early-stage product/service development and lays the foundations for building viable businesses.

The programme aims to accelerate early-stage startup growth by funding the initial operation stages, the recruitment of personnel, prototype and business plan development, as well as marketing and branding activities, among others.

In a statement, Mr. Theodoros Loukaidis, RIF’s Director General said: “the PRE-SEED programme supports entrepreneurs in the early stage of their journey towards developing game changing products and services that can penetrate in international markets. They can be in any thematic area. They may still be ideas on paper or in the very early stages of product/service development.”

With regards to previous calls of the PRE-SEED Programme, Mr. Loukaidis stated “The programme provides much-needed support for a startup’s journey. We have seen startups that have secured funding from the programme raising money from private funds. Some of them have their  products and services already in the market and have paying customers while others are in a more mature stage and closer to launching their products in international markets. Through this new round we expect even more success stories and startups with equally impressive results, driving more impact for the country.”

Proposals can be submitted via the RIF’s online IRIS platform. The deadline for submissions is 3 November 2023.

For more information, interested parties can register for the webinar organised by the RIF on 8 September at 10:30am, or contact the RIF’s Partner Support Centre on 22205000. To register for the webinar, please click on the following link:

https://us06web.zoom.us/webinar/register/WN_4QGu2M3hScisHRvhxVc8CA#/registration

The Programme is funded by the Cyprus Recovery and Resilience Plan.

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Research and Innovation Foundation (RIF)

The Research and Innovation Foundation (https://www.research.org.cy) is the national authority in charge of supporting and promoting research, technological development and innovation in Cyprus. The RIF’s mission is pursued through the design and monitoring of funding programmes for research and innovation actions, in combination with the support of the integration of researchers from Cyprus in research and innovation activities at a European and international level.

Source: www.research.org.cy