Horizon 2020 is the biggest EU Research and Innovation programme ever with nearly €80 billion of funding available over 7 years (2014 to 2020), in addition to any private investment attracted.

Funding is given as part of the first phase during which the participants for each project will receive funding of €50,000 so that they can invest in research for innovative products which will shake the market. They can also ask to receive up to three days of free business coaching.

The Commission received 1995 proposals for the first phase on the 24th of February 2016. The 189 medium-sized enterprises to receive funding have submitted proposals for 174 projects. The total funding at this stage comes up to €8.7 million.

Regarding Cyprus, the following enterprises have been chosen:

Aqualligence- A ‘startup cleantech company’ that deals with the design, development and realization of software and hardware solutions for smart water networks.

Elysee Irrigation Ltd- Elysée manufactures and supplies piping and irrigation systems for agricultural, domestic and public use. The company serves more than 50 destinations in Europe, the Middle East and beyond,

iResTech - The company focuses on developing the IrisPhone, a new interface for smartphones that streamlines the experience and makes it more inclusive for the elderly and other people at risk of social exclusion.

Offshore Monitoring – The company provides monitoring systems and sensor solutions for the maritime and offshore industries, and aims to improve safety, security and navigation for commercial shipping and offshore operations.

The country with the largest number of participating medium-sized enterprises is the UK (36) participating enterprises, followed by Spain (34) and Italy (25). Most of the projects funded are in technology, transportation, along with low-emission energy systems.

Source: InCyprus