The Cyprus Research and Innovation Foundation (RIF) has launched a new funding initiative under its “PhD in Industry” program, committing €1.25 million to support local companies in Cyprus. The initiative aims to bridge the gap between academia and industry by funding doctoral students to conduct research that aligns with the operational needs of participating businesses, enhancing their competitive edge.

The program offers grants of up to €150,000 over a three-year period for companies to employ PhD candidates who will carry out research projects directly related to the companies’ objectives. This funding structure not only fosters practical innovation but also helps develop a talent pipeline of highly skilled professionals prepared to address real-world challenges in the Cypriot economy.

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In addition to financial support, the RIF provides free innovation and knowledge transfer services to grant recipients. These services include specialized consulting, enabling companies to make the most of cutting-edge research and technological advancements tailored to their fields.

The program gives priority to proposals from medium and large enterprises or projects that have not previously received RIF or European funding since 2016. Applications are open through RIF’s IRIS platform, with a submission deadline of March 27, 2025.