IDEA, the largest non-profit innovation centre in Cyprus offering comprehensive support to aspiring businesses, is accepting new applications from ambitious entrepreneurs wishing to transform their idea into a startup. Applications may be submitted by February 24, 2020.
To date, the IDEA Incubator-Accelerator has supported 48 startups, created more than 70 jobs, and is actively engaged overseas by helping evolve Cyprus into a regional innovation hub. It is also implementing public-private sector partnerships and contributes to fostering a culture of ‘giving back’ among the Cyprus business community.
IDEA has been recognized by the European Commission as the best Europe-wide, taking top spot among 29 countries in the area of business skills promotion. It is moreover the recipient of two awards at the Cyprus Responsible Business Awards: a Gold Award for ‘Excellence in Partnership’ and a Silver Award for ‘Cause Advocacy’.
IDEA provides for a period of nine months the following facilities to its hosted startups:
- Integrated practical training geared at setting up a business
- €12,000 in seed capital
- Mentoring from accomplished businesspeople
- Consultancy services on a range of matters: business, legal, accounting, marketing and ICT
- Free use of fully – equipped office facilities
- Business opportunities and contacts with businesses
- Networking with key players, access to investors
- Guidance on EU programmes
IDEA acquires a 5% shareholder stake in each company, in a bid to continue supporting young businesspeople over the next cycles.
The centre receives financial and human resources support from Bank of Cyprus as part of the Bank’s investment in promoting innovation, entrepreneurship and digitization in Cyprus, making the Bank a leader in the field of business innovation.
Lastly, IDEA is supported by other important partners such as CyTA, Innovation-Leo Burnett, Lellos P. Demetriades Law Office, Deloitte, Kinisis Ventures, the Cyprus Employers and Industrialists Federation and others.
Terms & conditions and applications available at wwwHYPERLINK “http://www.ideacy.net/”.HYPERLINK “http://www.ideacy.net/”ideacyHYPERLINK “http://www.ideacy.net/”.HYPERLINK “http://www.ideacy.net/”net and at f: ideacy.
For more information, call 22 128259 / 22 128261 or send an email to infoHYPERLINK “mailto:[email protected]”@HYPERLINK “mailto:[email protected]”ideacyHYPERLINK “mailto:[email protected]”.HYPERLINK “mailto:[email protected]”net.