The “DISRUPT” Programme aims to connect enterprises that develop cutting-edge innovations with the potential to create new or disrupt existing markets with Venture Capitalists who will support their further development and scale-up in international markets. The RIF funding – grant will be combined with VC investment through the Program, with the goal of assisting beneficiaries in successfully entering international markets, thereby increasing the competitiveness and resilience of the Cypriot economy.
The present Call will be financed by the Recovery and Resilience Facility of the NextGenerationEU instrument, in the frame of the action C3.212 “Innovation Funding Programmes and Funding Schemes for the Enhancement of Growth and Competitiveness of start-ups, innovative companies and SMEs” of the Cyprus Recovery and Resilience Plan. The Action is implemented under Policy Axis 3: “Strengthening the Resilience and Competitiveness of the Economy”, and specifically Component 3.2 “Enhanced Research and Innovation”.
Proposals are submitted through the Research and Innovation Foundation’s IRIS Portal.
1st Deadline: 23 March 2023, 13:00 – Call Budget €5 M.
2nd Deadline: 1 June 2023, 13:00 – Call Budget €5 M plus any unused budget from the 1st Deadline, based on the announced results of the 2nd Evaluation Stage of the 1st Deadline.
3rd Deadline: 1 December 2023, 13:00 – with any unused budget from the total €10 M based on the announced results of the 2nd Evaluation Stage of the 2nd Deadline. In case of budget exhaustion in the 2nd Deadline, the RIF will consider the possibility to allocate additional budget for the 3rd Deadline.
To learn more about the program, the eligibility criteria, the beneficiaries, and the evaluation criteria download the relevant flyer here.