The Research and Innovation Foundation (RIF) announced a new program, "Enhancing Business Capacity for Developing New Products," offering businesses with 30 or more employees the chance to hire specialized staff and develop new products or services.

According to an RIF press release, the program will follow a simplified proposal submission process and a fast-track evaluation process. Eligible businesses can include the related project expenses in their financial statements as research and innovation costs, qualifying for tax relief.

The program's total budget is €930,000, supporting 31 businesses.

Interested parties must submit their proposals through the RIF's IRIS electronic services portal. The Project Coordinator and the lead organization must be registered in advance. The first submission deadline is July 19, 2024, at 13:00, with the final deadline on October 9, 2024, at 13:00.

The program is funded by the Next GenerationEU Recovery and Resilience Mechanism and is implemented under the policy axis "Enhancing the Resilience and Competitiveness of the Economy."