Development and Promotion of Internationally Competitive Innovative Products and Services by Existing Enterprises (INNOVATE)
Programme Category
Programme Name
Programme Description
THALIA: Foundations of Change, Prosperity, Equality and Development
Programme “THALIA 2021-2027” constitutes a multi-annual, multi-fund development Programme that was drawn up in accordance to the Article 22 of the Regulation (EU) 2021/1060 (Common Provisions Regulation – CPR), outlining the development strategy for the utilisation of the resources allocated to Cyprus through the Cohesion Policy Funds, for the period 2021-2027.
The total budget of the Programme amounts to €1.81 billion, of which €968 million comes from the EU Cohesion Policy Funds, while the remaining €842 million is the national contribution.
Identifier Code
Call
Summary
The objective of the «Development and Promotion of Internationally Competitive Innovative Products and Services by Existing Enterprises (INNOVATE)» Programme is to support existing enterprises from all activity sectors, that will invest in research and innovation, for the development of competitive innovative products or services with quick global market penetration prospects. Moreover, the Programme facilitates the mobility of private investment funds for the support of rapid development innovative enterprises.
Detailed Call Description
The Programme aims to support existing enterprises already active in commercial activities, or have innovative products / services at a test or pilot phase. Funding is mainly aimed to support the development or optimisation of the product / service, the launch of the commercial production, the promotion / marketing, and ultimately the global market penetration of the product.
Specifically, in the frame of funded projects, experimental development activities may be carried out, which may include prototyping, demonstration, pilot operation, testing and validation of new or improved innovative products / services. New products or services may belong to a family of innovative commercial products of the company. In addition, new products or services may have entered the market in limited quantities or in a specific geographic area for trial purposes in the two previous years prior to the year of the application and need redesign, which requires experimental development, prototype development, testing and other production preparations in order to penetrate the market successfully.
The Programme also covers innovation activities, which may include the protection of intellectual property rights, secondment of highly qualified personnel from a research organisation to the beneficiary, and the acquisition of advisory services and innovation support services aimed at developing a scientifically and technically sound, innovative business idea, in a ready-to-sell product or service.
Through the Programme, beneficiaries are also given the opportunity to update their strategic business plan for the innovative business idea.
Finally, the Programme covers promotion / marketing activities for the products / services in order to support global market penetration with significant prospects, activities to enhance the investment readiness of the company, and activities aiming to attracting private equity.
In the cases where the new product or service is based on new technology, it is expected that the technology falls within a high technological readiness level, having already been validated in laboratory and relevant environment and is at least being demonstrate at relevant environment. This will also apply to non-technological innovations, accordingly.
- Priority: Competitive, Smart and Digital Economy
- Policy Objective: A More Competitive and Smarter Europe
- Specific Objective: Strengthening Research & Innovation
- Project Type: Grant Scheme
- Geographical area covered by the call: Cyprus
Call Total Budget
Financing percentage by EU or other bodies / Level of Subsidy or Loan
60%
Thematic Categories
- Research, Technological Development and Innovation
- Small-Medium Enterprises and Competitiveness
Eligibility for Participation
- Businesses
- Chambers
- NGOs
- Private Bodies
- Researchers/Research Centers/Institutions
- Trade Unions
Eligibility For Participation Notes
BENEFICIARIES: Enterprises, Research Organisations, Other Private Sector Organisations
SPECIFIC PARTICIPATION RESTRICTIONS ANS CONDITIONS: The Host Organisation (HO) must be an Enterprise (Β1, Β2, Β3)
Host Organisations must be existing enterprises, or under certain conditions affiliated with them, newly established enterprises that take over part of their activities (corporate spinoffs) given that they “inherit” the characteristics of the existing enterprise in terms of number of employees and turnover (excluding passive income from royalties, interest, dividends, financial leases, rental income, subsidies/grants/financing, etc.).
The Host Organisations must meet the following requirements:
- have audited financial statements for the previous fiscal year (N-1) or the year preceding (N-2), where “N” is the year of submission of the Proposal
- have sales and turnover amounting to at least 50% of the requested funding; and
- employ at least five (5) employees.
The above are Preliminary Check Criteria and should be documented at the proposal submission stage. The following should be submitted for documentation:
- Audited Financial Statements for the previous fiscal year (N-1) or the year preceding (N-2), where “N” is the year of submission of the Proposal; and
- Statement of Earnings and Contributions from the Social Insurance Services for the last 3 months prior to the month in which the proposal is submitted, for which the employer is required to have paid social insurance.
If these criteria are not met, the proposal will not proceed to a scientific evaluation. Research Organisations, Enterprises and other Private Sector Organisations are eligible to participate as Partner Organisations. The Partner Organisations may accompany the Host Organisation for the achievement of the technological objectives of the project and only for the implementation of experimental development activities, which concern the prototype development, pilot operation, testing and validation of the product/service of the undertaking.
The total costs of the Partner Organisations should not exceed 30% of the total project budget.
It is noted that the participation of a Large Enterprise in a project of the RESTART 2016-2020 Programmes is possible if the proposal demonstrates the incentive character of the funding expected to be provided to the Large Enterprise, as defined in Chap. 1.2 of Section III, of the RESTART 2016-2020 Programmes.
The participation of a Large Enterprise (including private universities) is allowed provided that at least one Small and Medium Enterprise (SME) participates in the Consortium, in accordance with Regulation (EU) 2021/1058 of the European Parliament and of the Council for the European Regional Development Fund (ERDF) and the Cohesion Fund.
An organisation may be funded as a Host Organisation for only one (1) project under this Call for Proposals.
Call Opening Date
Call Closing Date
National Contact Point(s)
Research and Innovation Foundation
Τelephone: 22205000
Email: support@research.org.cy
EU Contact Point
European Regional Development Fund