Cypriot entrepreneurs flood RIF with proposals for early-stage funding

The Research and Innovation Foundation (RIF) has received a record 284 proposals for its PRE-SEED programme, highlighting growing interest in creating and developing startups with international ambitions in Cyprus.

The submission process for the latest PRE-SEED/0526 call under the “Creation and Initial Development of Startups with an International Orientation” programme was completed on September 11, 2026, according to the foundation.

A total of 284 proposals were successfully submitted through the foundation’s IRIS electronic services portal, marking the highest level of participation recorded for the programme.

The RIF explained that the high level of participation was an indication of the growing momentum in Cyprus’ startup sector, as more teams and businesses seek to turn innovative ideas into products and services capable of expanding internationally.

“The increased interest in the Programme and the record number of proposals confirm the dynamism of the startup ecosystem in Cyprus,” the RIF said.

The foundation added that the level of participation also highlighted the importance of continuing to expand the opportunities available to new and innovative businesses.

“The creation of more and appropriately targeted financing tools and support can make a decisive contribution to exploiting the business ideas being developed in the country and turning them into viable businesses with international prospects,” the RIF stated.

The PRE-SEED programme is aimed at supporting the creation and initial development of startups developing innovative products and services with the potential to enter international markets.

The latest call will now move to the proposal selection stage, the foundation pointed out.

According to the RIF, this process, under the RESTART programmes’ call framework, includes a preliminary check of submissions followed by scientific evaluation.

The foundation stated that the record participation demonstrated the increasing competitiveness of Cyprus’ innovation ecosystem, while also pointing to the need for continued support for early-stage companies.

“The RIF continues to actively support the development of a dynamic and competitive innovation ecosystem, creating opportunities for new business ideas and contributing to the transformation of innovation into products, services and businesses with international prospects,” the foundation said.

The latest call therefore comes as Cyprus seeks to strengthen the pipeline of new companies capable of developing innovative products and services for markets beyond the island.

The RIF concluded by saying that the number of submissions provided further evidence of the level of interest among entrepreneurs and teams seeking to develop such businesses in Cyprus.