12° Nicosia,
21 July, 2024

Startups get boost from new PRE-SEED program

€119,999 available in funding and expertise

Newsroom / CNA

The Research and Innovation Foundation (RIF) has introduced the PRE-SEED program, welcoming entrepreneurs and early-stage startups with open arms. The program offers aspiring business owners the opportunity to secure equity-free funding, with a maximum value of €119,999. Additionally, participants can access free-of-charge knowledge transfer and innovation support services. The PRE-SEED initiative seeks to propel innovative concepts to the next level, fostering the growth of startups in their early phases and setting the groundwork for sustainable enterprises.

By providing funding for initial operations, team expansion, prototype and business plan development, and even marketing endeavors, the program paves the way for startup success. Theodoros Loukaidis, Director General of RIF, highlighted the program's broader impact. He emphasized how the PRE-SEED program champions early-stage entrepreneurs as they strive to transform their ideas into influential products or services that can conquer global markets. The program welcomes ventures across various domains, whether they're still conceptual or in their preliminary stages of product or service creation.

Reflecting on the previous achievements of the PRE-SEED program, Loukaidis expressed satisfaction with the startup support it has provided. Several startups that received funding from the program have progressed to attract private investments and introduce their products and services to the market. As some startups approach international launches, the program has become a catalyst for positive outcomes.

Proposals for the PRE-SEED program can be submitted via the RIF's user-friendly IRIS platform. The application deadline is set for November 3, 2023. To gather further details or inquire about participation, interested parties can reach out to the RIF's Partner Support Centre at 22205000.

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