RIF: New €10m programme to fund facilities and production lines for innovative products

The Research and Innovation Foundation (RIF) has announced the launch of the new funding programme “STEP: Creation of facilities and production lines for new innovative products and services”, aimed at enhancing the innovation and production capabilities of Cypriot businesses with a total budget of €10 million.

This programme is part of the government’s flagship initiatives, as presented by President Nikos Christodoulides, in the Annual Governance Programme for 2025, reaffirming the government’s commitment to reform policies that boost the real economy and the country’s production base, RIF said in a press release.

The programme targets businesses that seek to transform innovative ideas into high value-added products or services, through the development and establishment of modern facilities and production lines, ensuring their industrial exploitation.

Strategic Scope of STEP

STEP is the first funding programme of its kind, supporting the creation of facilities and production lines, in line with the EU’s Strategic Technologies for Europe Platform (STEP) regulation, focusing on the following sectors:

• Advanced and digital technologies
• Clean and efficient technologies
• Biotechnologies

Funding Details

• Total available funding: €10m
• Maximum funding per project: Up to €2m
• Funding is provided in accordance with the EU State Aid Regulations.

The programme is open to all Cypriot businesses, regardless of size, that wish to enhance their production base. It covers expenses related to the creation of facilities and production lines for innovative products/services, as well as staff training.

In a statement, the Director General of RIF, Theodoros Loukaidis, noted: “Through the STEP programme, we are making a strategic investment in the advancement of Cyprus’ research and innovation ecosystem, as well as in the country’s industry. We support businesses in taking the next decisive step — from development to production — turning innovation into real business results, with the goal of establishing a strong presence in international markets.”

Implementation and deadline

The programme will be implemented under the Cohesion Policy Programme “THALEIA 2021–2027”, with EU co-funding.

Submission deadline for proposals: 5 September 2025

For more information, interested parties may contact the RIF Support Service at:

📞 +357 22205000

📧 support@research.org.cy