The ERATOSTHENES Centre of Excellence of the Cyprus University of Technology has announced the launch of Space BIC by ERATOSTHENES CoE, a specialized business incubation center designed to support space technology-driven entrepreneurship in Cyprus.

According to the announcement, the first call for applications is now open, with a submission deadline of October 15, 2025.

Funding and Program Details

The Space BIC operates under the ERATOSTHENES Centre of Excellence with the support and funding of the Deputy Ministry of Research, Innovation and Digital Policy of the Republic of Cyprus. Its mission is to empower startups and individual entrepreneurs who leverage satellite data, space technologies, or geoinformatics services to deliver solutions addressing market or societal needs.

Each selected participant or team will receive up to €50,000 in De minimis funding, without equity concession, to develop prototypes, validate technologies, and scale innovative solutions. The incubation program lasts 24 months and consists of two scheduled cycles, with the second cycle expected to be announced in mid-2026.

Comprehensive Support for Space Entrepreneurs

Participants will receive support tailored to the maturity and innovation level of their ideas, based on approved incubation plans. The assistance may include:

• Co-working space and access to facilities

• Specialized mentorship and technological support

• Access to markets and funding opportunities

• Open innovation collaborations

• Support for Research, Development, and Innovation (RDI) projects

Eligibility Criteria

The program is open to:

• Startups less than five years old

• Teams or individuals intending to establish a company in Cyprus

• Applicants who can demonstrate relevance to the space sector and present a viable business model

“The space economy is rapidly emerging as one of the most dynamic innovation fields, with applications in environmental monitoring, agriculture, security, smart mobility, and more,” the announcement states. “Space BIC strengthens Cyprus’ position in the global transformation by supporting initiatives that deliver impactful solutions through space technologies.”

The open call also invites public, research, educational, and private organizations to join efforts in shaping a robust and interconnected innovation ecosystem in the space sector.

Interested applicants can apply via www.spacebic.cy/apply, where all eligibility criteria, required documents, and submission guidelines are available.
For further information, contact [email protected] or call +357 25002908.