RESTART 2016-2020 Programmes / Call for Proposals for the “Development and Promotion of Internationally Competitive Innovative Products and Services by Existing Enterprises (INNOVATE)” Programme
Programme Category
Programme Name
Programme Description
The third 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.
Identifier Code
Call
Summary
“Development and Promotion of Internationally Competitive Innovative Products and Services by Existing Enterprises (INNOVATE)” Programme aims 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 businesses.
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 optimization 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 refer mainly to 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 fall 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.
Call Total Budget
Financing percentage by EU or other bodies / Level of Subsidy or Loan
50%
€ 1.000.000
Thematic Categories
- Research, Technological Development and Innovation
Eligibility for Participation
- Associations
- Educational Institutions
- Large Enterprises
- NGOs
- Non Profit Organisations
- Other Beneficiaries
- Private Bodies
- Researchers/Research Centers/Institutions
- Small and Medium Enterprises (SMEs)
Eligibility For Participation Notes
The Host Organisation must be an Enterprise (Small, Medium, or Large). The participation of Enterprises, Research Organisations and Other Organisations of the Private Sector, is permitted.
Call Opening Date
Call Closing Date
National Contact Point(s)
Research and Innovation Foundation
RIF Support Service
Email: support@research.org.cy
Telephone: +35722205000