Funding ProgrammesAll you need to know about each Funding program


The “Commercial Exploitation of Research Results in Enterprises” aims to support the added value of entrepreneurial activities in Cyprus, through the commercial exploitation of the results of research carried out by Cypriot Enterprises. The objective is to use research results as the basis for the development of internationally competitive, innovative products and services, with consequent benefits regarding the employment of young scientists and the general growth of economy. At the same time, the Programme aims to encourage the growth of the high-risk investment fund market in Cyprus, emphasising on investment funds for high-tech start-up companies.

The Programme consists of two independent stages:

  • Stage A: Supports the development of a business plan for the commercial exploitation of results generated from a research project funded by the RPF and implemented by the Enterprise that submits the proposal. It also supports preparatory actions for product refinement, development of a business strategy, promotion and access to finance.

It is anticipated that the core activity of the proposed projects will be the deployment of a feasibility study which will be supported by innovation activities, assisting in the identification of obstacles to business success, investigation of the viability of business concept and further development of the product/service (which is based on the research results to be commercially exploited), prior to establishing a new venture and approaching potential investors.

  • Stage B: Provides funding for activities for commercial exploitation of research results in the frame of the operation of a new high-tech company established by a private, independent investor. The investor must fulfil certain conditions to be set in the Call for Proposals.

As the Programme is part of Pillar III of the Smart Specialisation Strategy, which aims to upgrade the RTDI System in Cyprus, the thematic selection of projects does not apply.

Stage A: Enterprises

Specific Participation Restrictions and Conditions
Stage A: The Host Organisation must be an SME (B1, B2), wishing to proceed to the commercial exploitation of the research result generated from a research project funded by RPF, in which the SME participated, and was successfully completed within the last five (5) years of the date of submission of the proposal. It is expected that the Enterprise owns the rights to use the research result.

The participation of Partner Organisations and Foreign Research Organisations is not permitted.

Project Activities
Stage A: The projects may include a Feasibility Study and/or the following Innovation activities:

  • Protection of intellectual property rights and licencing agreements
  • echnology and knowhow transfer activities,
  • Measurements, tests and analyses, and
  • Access to research infrastructures and databases.

Duration of project implementation
Stage A: 6- 18 months

Stage A: €270.000

Maximum Funding per Project
Stage A: €30.000 The aid intensity is 50%.

Eligible Costs
Stage A: Innovation Costs (only for the innovation activities described above) and/or Personnel Costs, Instruments and Equipment Costs, Costs for External Services, Costs for Travelling Abroad, Consumables, Other Specific Costs, Overheads.

The abovementioned costs should be directly relevant and be necessary for the Feasibility Study

It is noted that for Stage A, the restrictions of maximum cost limits for “Cost of External Services” as described in Chapter 3.4 of Section III of the present Work Programme do not apply.

Stage A: Remote Evaluation.

The present Call is part of the «Competitiveness and Sustainable Development 2014-2020» Operational Programme and is co-funded by the European Regional Development Fund and the Republic of Cyprus.

General Call Information
Pillar ΙIΙ. Transformation of RTDI system
Programme Commercial Exploitation of Research Results by Enterprises (STAGE A)
Call Budget 270.000 Euro
Maximum Funding Per Project 30,000 Euro
Publication Date 24 September 2018
Deadline Open Call for Proposal Submission until 30/09/2020, 13.00, or until budget exhaustion

All general rules and procedures for the participation of organisations and individuals, the eligible activities and costs, as well as the specific information regarding the RESTART 2016-2020 Programmes, are included in the RESTART 2016-2020 Work Programme, which is the main reference document and an important information source for interested parties and can be found on the Research Promotion Foundation’s IRIS (Innovation Research Information System) Portal ( 

The English version of the Call, even though an official translation endorsed by the Research Promotion Foundation, is provided for information purposes only. Only the Greek version of the Call is legally binding and shall prevail in case of any divergence in interpretation.

Within the framework of the present Call for Proposals the following specific conditions, which are not defined in the RESTART 2016-2020 Work Programme, apply:

  • Each Host Organisation cannot receive funding for more than one (1) Project in the frame of this Call.
  • The technology readiness of the research results that will be commercially exploited must be classified at least at level 5 (TRL 5: technology validated in relevant environment) of the scale (TRL 1-9) as adopted by the EC.
  • Τhe Host Organisation submitting the proposal to RPF must be the owner of the research results and possible intellectual property rights arising from them.


Evaluation Procedure
For the evaluation of Proposals submitted under the Programme «Commercial Exploitation of Research Results», a Proposal Eligibility Check and a remote scientific evaluation by one (1) evaluator will be followed, as described in the RESTART 2016-2020 Work Programme.

Prior to the scientific evaluation of each Proposal according to the evaluation criteria, evaluators are requested to assess the Proposal’s compatibility with the objectives of the Programme and the relevant Call for Proposals. The evaluator will not proceed with the assessment of the evaluation criteria should the Proposal fail the compatibility assessment.

Evaluation Criteria
1. Excellence – Weight 30%

  • Quality of the project’s objectives and their relevance to the Program’s objectives with particular reference to the following:
    o The stage of development / maturity of the research results that will be commercially exploited.
    o The type of activities included in the Project.
  • Degree of Innovation and Originality of the proposed Project in relation to the existing knowledge (state-of-the-art) at international level (taking into account the target market for the suggested products and services, the existing competition and the innovativeness of the end product/service).
  • Soundness, credibility and feasibility of the proposed concept in a way that:
    o The proposed idea presents a business opportunity, either by covering a gap in the market or creating a new market,
    o The proposed activities are achievable.

2. Added Value and Benefit – Weight 50%

  • Scientific, technological, social and/or economic impact emerging from the commercial exploitation of research results and measures to maximize it.
  • Effectiveness of the proposed measures of exploitation (including the management of intellectual property rights).
  • Relevance of the proposed Project’s objectives with the business strategy of the Host Organisation.

3. Implementation – Weight 20%

  • Completeness and appropriateness of the Work Packages’ content, the allocation of the various activities, the timetable and the budget. Correlation between the maturity of the research results and the timeline of activities.
  • Effectiveness of the proposed methodology for the implementation of the deliverables.
  • Completeness, quality and the capacity of the Host Organisation for qualitative the implementation of the Project (at the level of Organisation and/or individuals where applicable) and the achievement of the proposed objectives.
  • Suitability and adequacy of the proposed coordination and management activities, including identification and handling of potential risks.

Prioritised by order of submission to the RPF (non-competitive procedures apply) with the condition that proposals have been deemed eligible for funding following the scientific evaluation procedure, securing a score of at least 11.00/15.00, until the sum of:

(a) the requested funding in proposals submitted to the RPF and that of ongoing

Projects, and

(b) the approved funding for Projects that have been completed,
reaches the total Call budget.

Proposals are submitted through the Research Promotion Foundation’s IRIS Portal ( 

The Project Coordinator and Host Organisation should register in advance on the IRIS Portal.

Potential applicants are advised to use the «Guide for Applicants», which contains guidelines and clarifications regarding the Submission procedure and the «IRIS Portal User Manual», which can be found on the IRIS Portal ( 

The Research Promotion Foundation encourages in all its Calls for Proposals:

  • the participation of women as Project Coordinators, and
  • the gender-balanced formation of research teams.

The Project Proposal consists of the following parts:

  1. Part A – General Information & Budget (electronic form (fields) to be completed online through the IRIS Portal).
  2. Part B – Technical Annex (document to be uploaded as an Annex on the IRIS Portal in PDF format).
  3. Annex I – Curricula Vitae (document to be uploaded as an Annex on the IRIS Portal in PDF format - Optional).






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