The application period for the new round of the PRE-SEED programme, implemented by the Cyprus Research and Innovation Foundation, closed on September 11, 2026. A total of 284 applications were successfully submitted through the IRIS electronic portal. The Foundation described this as a record level of participation in the scheme.
Such a high level of activity shows that interest in creating and developing startups in Cyprus continues to grow. More and more teams and companies are working to turn innovative ideas into real products and services that could eventually enter international markets.
For the Cyprus startup ecosystem, this also means growing competition for available funding. According to RIF, the record number of applications confirms the need to further expand support opportunities for young innovative companies.
What the PRE-SEED programme provides
The main objective of PRE-SEED is to support the creation and early development of innovative startups focused on developing products and services with the potential to enter global markets. The programme is also designed for startups that are still at the business idea stage or are only beginning to develop their product or service.
Under the new call, the total funding budget amounts to €1 million, while the maximum support available for a single project is €119,999.
PRE-SEED therefore gives early-stage companies the opportunity to receive funding while their idea is still progressing from development towards a full-fledged product and market launch.
What happens next
The applications must now go through the selection process. According to the programme rules, this includes a preliminary review and scientific evaluation of the proposals. Competing projects will be assessed by a separate seven-member committee. Its members will include representatives of the European Innovation Council and the Executive Agency for Innovation, entrepreneurs and venture capitalists. Teams that submitted applications will be required to present their startup development strategies to the selection committees and answer questions about the potential of their ideas and the stages of implementation.
It is worth noting that organisations selected for funding will automatically gain access to free innovation support services and knowledge transfer tools. The project is co-financed by the Republic of Cyprus and the European Regional Development Fund (ERDF) under the “THALEIA 2021–2027” Cohesion Policy Programme.
The record 284 applications show that a broad community of teams interested in creating technology and innovation companies is emerging in Cyprus. At the same time, the further development of the startup ecosystem will depend not only on the number of new projects, but also on access to funding, expert support and opportunities for Cypriot companies to enter international markets.
The Cyprus Research and Innovation Foundation continues to use funding programmes to support research, innovation and new entrepreneurial projects. PRE-SEED remains one of the tools specifically aimed at the earliest stages of startup creation.