IDEA stands for Idea, Develop, Excel and Accomplish. It is the first and only accelerator and incubator in Cyprus, launched by its two Co-Founders Bank of Cyprus and CIIM in September 2015.
Every 9 months we accept 8 to 10 startups teams, ideally composed by 2-3 team members with complimentary skills to each other.
The first part of our program is the Accelerator and lasts 3 Months. Where the accepted teams are trained by experts in entrepreneurships towards the better improvement and development of their ventures.
At the end of the 3 Months of the Accelerator, teams will be again evaluated based on their progress through the past 3 Months so as to enter or not the next phase, which is the Incubator, lasting 6 Months. The ultimate purpose of the Incubator program is for the teams to be ready to leave the program at the end of the 6 Months ready to independent and revenue making to support their operations thereafter.
Through this period, IDEA provides all the means for support agreed with its strategic partners for ONLY when teams demand it. At this stage, teams are independent and are not monitored at the level they were at the previous Accelerator stage. For this reason, the teams that pass from the Accelerator to the Incubator stage are the ones with the greatest maturity both as a team and as a venture.