Nicosia: A record number of applications were submitted for a programme aimed at creating and developing startups in Cyprus, the Research and Innovation Foundation (RIF) revealed in a press release.

According to Cyprus News Agency, the submission process for the PRE-SEED/0526 Call under the RIF 'Creation and Initial Development of Startups with International Orientation (PRE-SEED)' Programme was successfully completed on the 11th of September 2026. A total of 284 proposals were submitted through RIF's Portal, IRIS, marking a new high in participation for the Programme.

"The particularly high level of participation is a strong indication of the growing momentum in Cyprus' startup sector, as an increasing number of teams and businesses seek to transform innovative ideas into products and services with international growth potential," the press release stated. This surge in interest highlights the dynamism of Cyprus' startup ecosystem and underscores the need for continuous support to new and innovative businesses.

RIF emphasized the importance of developing additional, well-targeted funding and support mechanisms to unlock the potential of new entrepreneurial ideas, transforming them into sustainable businesses with international appeal. The Programme is designed to foster the creation and initial development of startups focusing on innovative products and services that can successfully compete in global markets.

The proposal selection process is set to commence, which will include a preliminary eligibility check and a scientific evaluation of the submitted proposals, in line with the RESTART Programmes' Call for Proposals. RIF remains committed to fostering a vibrant and competitive innovation ecosystem by offering opportunities for new business ideas and aiding in the transformation of innovation into products, services, and businesses with potential for international growth.