This Policy Axis aims to improve the competitiveness and resilience of the Cypriot economy. In addition to the other axes, it includes measures that contribute to the promotion of a new model of development and international competitiveness of the Cypriot economy, based on the results of the relevant study of the Cyprus Economy and Competitiveness Council.
Includes investments and reforms to expand the productive base by strengthening the primary and secondary sectors of the economy, improving competitiveness and the business environment, mainly by supporting small and medium-sized enterprises (SMEs), diversifying and strengthening the tourism product, modernizing public administration and local authorities, reform and improve the efficiency of the judiciary, fight corruption and enhance transparency, enhance research and innovation, and the resilience of the financial sector and the financial situation.
“Creation and Initial Development of STARTUPs with International Orientation (PRE-SEED)” Programme aims to support the creation and initial development of innovative STARTUPs which intend to develop innovative products and services with global market penetration prospects.
The Programme aims to support STARTUPs with international orientation with significant prospects for rapid development, which are still in the idea stage and their product or service is not yet fully developed.
Funding to beneficiaries is expected to cover the investigation, evaluation and development of the idea, the development of an initial product / service and the first efforts towards the commercialization of the product / service. More specifically, funding is expected to cover, amongst others, the initial operation of the enterprise, prototype development, market research, identification of the appropriate business model, business plan, intellectual property protection, investor search, etc.
The Host Organisation must be a Startup Company. The participation of Enterprises, Research Organisations and Other Organisations of the Private Sector, is permitted.
Research and Innovation Foundation
RIF Support Service