15.07.2022
This week, the Research and Innovation Foundation (Idek) announced that it has provided funding for start-ups and other innovative businesses totaling 8.5 million euros.
The fund said it expects this will mobilize more than €5 million in additional private investment, while it is estimated that more than 70 new jobs will be created.
“The companies will be funded through the Pre-Seed, Seed and Innovate initiatives announced in December 2021,” the fund said in a statement.
“Of the 215 proposals submitted, 61 of them passed the second stage of evaluation, and as a result of the final evaluation, 15 start-ups and 7 existing enterprises were funded,” the fund added.
The RIF’s entrepreneurial innovation programs are part of the Fund’s new National Framework Program for the period 2021-2027.
The programs aim to support start-ups and the Cyprus business ecosystem , with the ultimate goal of creating long-term social and economic benefits.
The Cyprus Ports Authority this week participated in a European conference in Germany under the STEAM (Sea Traffic Management in the Eastern Mediterranean) program funded by the European Union.
“The STEAM project started in January 2019 and is designed for three years with funding of one million euros from the European Union and its structural funds,” the agency said in a statement.
Program participants include the Cyprus Ports Authority, the Cyprus University of Technology, the RISE Foundation, the Association of Shipping Agents and CSCS, Delevant Business Solutions and Tototheo Maritime.
“The overall goal of the STEAM project is the efficient management of maritime traffic in the Eastern Mediterranean while ensuring safety and environmental sustainability, with specific objectives to improve the efficiency of various port operations and services, optimize navigation and facilitate short-haul navigation,” explained Officer Stelios Colombos.
“It also aims to collect real-time information on navigation, environment and cargo tracking to provide high quality data, create new tools and services that are consistent with the main goal of the program, and develop effective interaction between all maritime stakeholders ,” he added.
The Cyprus Stock Exchange ended Thursday, July 14 with a marginal gain.
The overall Cypriot stock market index stood at 66.22 points at 12:59 pm during the day, reflecting an increase of 0.08% from the previous trading day.
The FTSE/CySE 20 Index stood at 39.62, up 0.08%.
The total transaction value was 30,411 euros.
On sub-indices, the main index rose by 0.12%. Alternative, investment and hotel indexes remained stable.
Demetra (no change), Bank of Cyprus (-1.86%), Blue Island (+1.76%), Salamis Tours (-6.59%) and Blue Island (+1.76%) attracted the highest investment interest .
