Ultimately aiming to connect the research community of Cyprus with the local industry, the Research and Innovation Foundation’s (RIF) newly announced €10.2m funding programme ‘Collaborative Development - Co-Develop’, is  a product of the "Cyprus Tomorrow" Recovery and Resilience Plan and is primarily targeted at businesses and research organizations.

Among its ambitions, is the utilization of existing know-how to address specific needs and challenges in specific sectors of the economy, strengthening the economy’s competitiveness and improving the quality of life in Cyprus. The purpose of the program is to identify challenges and opportunities to tackle them through joint collaborative research and development projects, resulting in the creation of new technologies and solutions. In order to achieve effective cooperation, enable the transfer of technology and the exchange of knowledge, greater sharing of resources and infrastructure, as well as greater mobility of staff is expected to take place between participating organisations.

The programme’s priorities are twofold, with €6m earmarked for the green transition, specifically in renewable energy sources, energy efficiency and sustainable transport, and €4.2m dedicated to information and communication technologies or health sciences.

The projects are expected to be implemented by consortia consisting of at least one company and one research organization. Other consortia from the public and private sectors can participate in each consortium, as deemed necessary for the better implementation of the project. The maximum funding per project is € 600,000.