The Research and Innovation Foundation (RIF) has announced the launch of the new funding program “STEP: Creation of Facilities and Production Lines for New Innovative Products and Services,” with a total budget of €10 million. The program aims to strengthen the innovation and production capacity of Cypriot businesses.

The program targets businesses seeking to transform innovative ideas into high value-added products or services by developing and establishing modern facilities and production lines that ensure their industrial utilization.

STEP is the first funding scheme of its kind to support the creation of facilities and production lines, aligned with the EU regulation Strategic Technologies for Europe Platform (STEP). It focuses on the following sectors:

• Advanced and digital technologies

• Clean and efficient technologies

• Biotechnologies

The total available funding amounts to €10 million, with individual projects eligible for up to €2 million, in line with EU State Aid Regulations.

“The program is open to all Cypriot businesses, regardless of size, that wish to enhance their production base,” the statement adds. Eligible expenses include the creation of facilities and production lines for innovative products or services, as well as staff training.

The program can be implemented under the Cohesion Policy Program "THALIA 2021–2027" with co-financing from the EU, and the submission deadline for proposals is September 5, 2025.

For more information, interested parties can contact RIF’s Support Service at +357 22205000 or via email at [email protected].