The Cyprus Chamber of Commerce and Industry (Keve) announces this week the launch of the first incubation cycle of Space BIC, a specialised initiative run by the Eratosthenes Centre of Excellence, aimed at empowering startups and entrepreneurs in the space sector.

According to the announcement, Space BIC targets companies and teams that leverage satellite data, space technologies, or geoinformation services to develop innovative solutions, the chamber said.

The first call for applications is open until October 15, 2025, and each selected participant or team will receive up to €50,000 in non-equity De Minimis funding to develop prototypes, validate technologies, and scale their innovations.

The incubation programme will run for 24 months and include two cycles, with the second cycle scheduled to be announced in mid-2026.

Eligible applicants include newly established companies less than five years old, teams, or individuals who have or will create a company in Cyprus and can demonstrate relevance to the space sector while presenting a viable business model.

Applicants can access the application form and all supporting documents, eligibility criteria, and submission guidelines at www.spacebic.cy/apply.

For further information, interested parties can contact Space BIC via email at [email protected] or call +357 25002908.

Soti Christou, officer at Keve’s Department of Services, Trade and Digitalization, said Space BIC seeks to build a dynamic space innovation ecosystem in Cyprus.

Keve, acting as coordinator of the Enterprise Europe Network Cyprus, encouraged all interested startups and entrepreneurs to participate in the programme.

The initiative reflects Cyprus’ growing focus on space technologies and its commitment to supporting innovative enterprises in developing globally competitive solutions.