In this section you can find information on all the approved Co-Financed programmes – projects announced by the Research and Innovation Foundation.

The Research and Innovation Foundation (RIF), in the frame of its activities to develop a culture of knowledge transfer and commercial exploitation of research results, announces for the first time the “Cyprus Award for the Commercial Exploitation of Research Results”.

Knowledge Transfer activity at national level makes a significant contribution to enhancing competitiveness, creating new jobs and contributing to the diversification, sustainability and vitality of national economies.

This Award will provide a reward for a scientist or a group of scientists who have demonstrated successful commercial exploitation of research results and seeks to motivate and encourage further development of knowledge transfer activities in the Cypriot ecosystem.

The winner is announced during the Cyprus Research and Innovation Awards Ceremony, where the rationale for the decision for each area is also announced. Winners will receive a work of art, specially made for the Awards.

Moreover, the winner(s)’ Host Organisation (HO) will be granted an amount of 60,000 Euros for conducting research and development activities (TRL 4-8) to improve the commercial readiness of the winner(s) research, as Project Coordinator, which should be used in the framework of a project of duration between twelve (12) and twenty four (24) months. In the case of a group of researchers, one person will assume the role of Project Coordinator. The signing of the Contracts must be completed up to 3 months from the date of the invitation to the Contract Preparation procedure. Otherwise, RIF reserves the right to terminate the Contract Preparation process. In the case of a group of natural persons, one person will assume the role of Project Coordinator. The Project must start no later than 6 months after the call for contract preparation.

Please note that if the Committee selects two winners for the award, the prize will be shared equally.

In any case, the HO should be a Research Organization, Enterprise or Other Organization legally established and active in the areas under the control of the Republic of Cyprus.

It is expected that the winners of the Award will participate in events for the promotion of the “Cyprus Research Awards”.

• Research, Technological Development and Innovation

• Educational Institutions
• Other Beneficiaries
• Researchers/Research Centers/Institutions

Nominees

The nominated researchers should:
• have been working and living in Cyprus on a permanent basis during the last three (3) years up to the announcement date of the Call.

• have demonstrated successful commercial exploitation of the results of his/her research in the field of Life Sciences or Physical Sciences and Engineering or Social Sciences and Humanities, as evidenced by at least one of the following during the Call announcement (i) the licensing of research results with revenues of at least €25.000, (ii) the establishment of a start-up1 company (the definition of a start-up should be fulfilled during the Call announcement) developing technology with commercial application based on the results of research work (e.g. may be own research, licensing of intellectual IP) and which has at least a Minimum Viable Product (MVP) for which beta testing has already been initiated by intended end-users as to its functionality, usability, and reliability and has secured funding of more than €40.000 from private investors or has placed products/services on the market and has revenues of at least €25.000. Note that own investments, or sponsorship income as private investment are not taken into account as revenue.

The nominated researchers may be of any nationality and must have been working in any Research Organization, Enterprise or other Public or Private Entity legally established and active in the areas under the control of the Republic of Cyprus.

Research and Innovation Foundation

Τelephone: +35722205000
Email: support@research.org.cy

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