In this section you may find information on National Schemes published by the Cyprus Research and Innovation Foundation (formerly know as the Research Promotion Foundation – RPF).
The Fast Track Innovation Programme aims to support existing enterprises from all sectors of activity to invest in the rapid development and promotion of internationally competitive innovative products and services. The Programme includes activities targeting the improvement of the characteristics of existing products/services/processes through research and development activities or the development of new products or the development of services that create new revenue streams into the business within a short period of time.
The Programme aims to support existing enterprises already engaged in commercial activities, or ones that have innovative products / services at a test or pilot phase. Funding mainly aims to support the development or optimization of the product/ service, the launch of commercial production, the promotion / marketing of the product / service, and ultimately enable the product to penetrate the global market.
Specifically, in the frame of funded projects, entities may carry out experimental development activities, which may include prototyping, demonstration, pilot operation, testing and validation of new or improved innovative products / services. New products or services may be part of a series of innovative commercial products produced by the company.
The Programme also covers innovation activities, which may include the acquisition of advisory services and innovation support services aimed at developing a scientifically and technically sound, innovative business idea into a product or service ready for commercial launch.
Finally, the Programme covers activities related to the production and commercial exploitation of products/services, including promotion / marketing activities for the products / services, with the aim of making them available in global markets with significant prospects, activities to enhance the investment readiness of the company, and activities aiming to attract private capital.
In cases where the new product or service is based on a new technology, it is expected that at the start of the project, the technology should be at TRL 6. This will also apply to non-technological innovations.
Closing date of call: 30 April 2025, 13:00
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Research & Innovation Foundation
Partner Support Centre
Τelephone: 22205000
Email: support@research.org.cy