Reinforcing Med Microfinance Network System for Start-ups

Research and Innovation Foundation

What are the existing microfinance measures in the country today? (indicate the number of measures)

TYPE OF MEASURE	MEASURE (indicate the names of the measures)
NATIONAL	Research and Innovation Foundation




LOCAL (provincial, regional, municipal or equivalent territorial reality)

B) For each MEASURE ( to repeat for each measure)

Name/Title: Marinos Portokallides
Name of responsible organization: Research and Innovation Foundation
Website: https://www.research.org.cy/en/
NATIONAL OR LOCAL		N/L
Starting year	1996	End year	ongoing
The Research and Innovation Foundation (RIF) is the national authority in charge of supporting and promoting research, technological development and innovation in Cyprus.

What kind of activity does this measure finance?

Creation of new businesses	Yes
Strengthening of existing businesses	Yes
Specific investments – specify type (i.e. innovation, research, environmental transition, hiring, internationalization, purchase of goods)	No
Training activities	No
Other (specify)

What type of financing is it?

Low-interest loan (indicate the repayment time and, if present, the requirement for collateral)	No
Non-repayable grant (indicate the percentage of non-repayable fund)	Yes If Yes, percentage of non-repayable fund:100%
Tax credit
Other (specify)

How does the activation of the measure work?

One-stop means	Yes
Call with closing date

Financial entity of the measure (indicate the resources allocated)

Overall amount	100k-500k
% facilitation for each recipient
Minimum amount that can be financed
Maximum amount that can be financed	n/a
Origin of financial resources (European, State, Regional authority, Municipal authority, other)	European

Type of funded social structure (indicate if belonging to a specific category is required in order to access the measure)

	Female	Over 50	Unemployed (specify any type)	Disadvantaged groups (specify type)	Youth (specify age range)	Other (specify)
Individual
Company

Does the measure provide for accompaniment and training or only financial support?

Financial support + accompaniment/training
Only Financial support	YES

Is the measure considered a good practice and as such replicable in other national and / or international contexts?

YES
NO

C) How many initiatives have been financed in the last 3 years and for what economic amount?

Number of initiatives 56

Total economic amount Average investment – amount 100k-500k