Cyprus Times

New Funding Tools from IDEK Bring Research and Businesses Closer

Published March 26, 2026, 09:08
New Funding Tools from IDEK Bring Research and Businesses Closer

The Foundation for Research and Innovation (IDEK) announces two new Calls for Proposals under the 'Proof of Concept' and 'Research in Enterprises' programs. The Proof of Concept program supports the preliminary exploration of industrial applications, while Research in Enterprises focuses on the creation or improvement of products and services by Cypriot businesses. The programs aim to develop innovative products and services, promoting the commercialization of research results and collaboration between the research community and businesses. IDEK also presents the new MatchMe tool, which facilitates partner search. The total budget for Proof of Concept is €1,000,000 with a maximum funding of €40,000 per project (deadline: June 26, 2026). The budget for Research in Enterprises is €2,400,000 with a maximum funding of €150,000 per project (deadline: June 30, 2026). IDEK’s General Director, Theodoros Loukaidis, emphasized the importance of linking research and businesses to enhance Cyprus' competitiveness. The MatchMe tool facilitates finding partners and developing solutions to real challenges. Interested parties can submit proposals through the IRIS portal and contact IDEK’s Partner Service Center for more information.