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CYPRUS
Measure targeting high tech SMEs
Guarantee for loans to SME
This measure aims at encouraging the financing under short procedures and favourable terms Of existing enterprises
State grants for upgrading technology for SME
Business incubators measure
The objective of the measure is to support the creation of new High Technology and Innovation enterprises. From 2002 to 2004 the government planned to invest 87,000€ in five incubators.
Other measures as “Support to female entrepreneurship” or “Support to young researchers” could have a positive impact on SME development.
Financial support
Government has planned to create innovation financing assistance to facilitate SME access to capital funds.
Calls for proposals from the Research Promotion Foundation (RPF)
Two calls have been published and were open until the 22 April 2005 in the framework of the programme 'Start-Up Scheme the Research Promotion Foundation'
The Centre for SME of the Cyprus Development Bank
The Centre for SME is a department of the Cyprus Development Bank dedicated to supporting SME. It provides different services: Medium and Long-Term Loans, Venture Loans, Current Accounts and Overdrafts, Trade Finance, Hire Purchase and Leasing…
Private Support
Cyprus counts 4 business incubators, and the creation of a Technology park is planned:
Promitheas Business Innovation center
ERMIS research and Incubator center
Diogenes - Incubator of University of Cyprus
Helix Business Incubator, Ltd
Other
IRC Innovation Relay Center
The IRC-Cyprus’ mission is to enrich local enterprises’ technological infrastructure through technology transfer from Europe and, also, to enhance the development and management of innovation in Cyprus
RTD Talos Ltd
The Development Organisation Talos was established in September 2000 as a private limited company. Tales strategically placed itself between industry, academia, financial institutions and public authorities with the core mission of supporting the development of Smells in Cyprus. Talos hosts the National Contact Point for SMEs for the 6th Framework Programme and is the scientific co-ordinator of the Regional Innovation Strategy (RIS) project for Cyprus.
technical realisation:
VDI Technologiezentrum GmbH
