Foundation allocates €1.75 million to channel talent into Cypriot businesses

Cyprus’ Research and Innovation Foundation (RIF) on Thursday announced the launch of a new programme, aimed at introducing specialised, scientific talent to Cypriot businesses, with the ultimate objective being to bolster their competitiveness.

According to the announcement, the foundation’s ‘PhD in industry’ programme has a total budget of €1.75 million and a maximum funding cap of €150,000 per project.

It further noted that this initiative offers businesses the opportunity to establish or enhance their Research and Development (R&D) departments by hiring specialised talent or boosting the knowledge of their existing members of staff.

The foundation underlined that through the programme, Cypriot companies can take a pivotal step towards groundbreaking solutions, addressing societal needs and strengthening their own competitiveness.

The announcement explained that this latest cycle of the programme prioritises proposals without previous funding from RIF or European programmes from 2016 onwards. Medium and large enterprises stand out as potential beneficiaries. the foundation noted.

Projects are expected to align with the companies’ activities, corresponding to the content of the researchers’ doctoral theses.

The scope of the programme spans life sciences, physical sciences and Engineering, extending even to applications in social and human sciences within these scientific fields.

Moreover, the foundation mentioned that selected recipients of funding gain automatic access to the RIF’s complimentary innovation and knowledge transfer support services.

Interested parties can submit proposals through the foundation’s IRIS platform until the programme’s deadline on March 29, 2024.

For further information, individuals can contact the RIF Support Center at 22-205000, email [email protected], or visit the following link: RIF Program Details.