Politis

New Funding Tools from IDEK Bring Research and Businesses Closer Together

Published March 26, 2026, 09:21
New Funding Tools from IDEK Bring Research and Businesses Closer Together

The Foundation for Research and Innovation (IDEK) has announced two new funding programs, 'Exploration of Industrial Application of Technology / Know-how (Proof of Concept)' and 'Research in Enterprises', aimed at bringing research and businesses closer together in Cyprus. The Proof of Concept program supports the preliminary exploration of industrial applications of a technology, while the Research in Enterprises program focuses on the creation or improvement of products and services by Cypriot businesses. The total budget of the programs amounts to €3.4 million, with maximum funding of €40,000 per project for Proof of Concept and €150,000 per project for Research in Enterprises. The deadlines for submitting proposals are June 26, 2026, for the first program and June 30, 2026, for the second. At the same time, IDEK presented the new MatchMe tool, a platform that facilitates the search for partners and the creation of new collaborations between research organizations and businesses. This tool aims to enhance the commercial exploitation of research results and promote innovation. The Director General of IDEK, Theodoros Loukaidis, emphasized that linking research with businesses is a key strategic goal, contributing to strengthening the competitiveness of Cyprus. The funding programs and the MatchMe tool are part of this effort, helping to solve real challenges and develop innovative products and services.