IDEA Programme: Boosting Entrepreneurship and Innovation in Cyprus…


IDEA aspires to boost the entrepreneurial spirit and put Cyprus high on the map of the international innovation ecosystem. Through promoting entrepreneurial activities and supporting the establishment and growth of startup companies, it contributes to job creation for youth and facilitates their transformation into innovative, international and sustainable businesses.


With the great emphasis is given on the entire spectrum and peripheral activities that support innovation in general, IDEA is proudly a strong part of the lobby that promotes innovation on the national level.


The Programme


With its accelerator and incubator programme, it hosts startup businesses for a period of 9 months, offering them the highest quality of supporting services so as to turn their innovative ideas into viable businesses.


The 9month programme is deployed in two phases; after the intensive training of the first 3 months (stage A: Accelerator) tied to specific deliverables, the teams are evaluated to ensure that they qualify to progress to stage B: Incubator, where they will enjoy even more benefits. Interim evaluations continue.


The Programme can host teams of 2-5 persons at any time, providing multifaceted assistance at no cost for the participants, as it is a Corporate Social Responsibility initiative of the Bank of Cyprus (BOC) and the Cyprus International Institute of Management (CIIM). It also enjoys the valuable support of its strategic partners and supporters: Deloitte Cyprus, Cyprus Telecommunications Authority (CYTA), Lellos P. Demetriades Law Office, Innovation Leo Burnett and others.


Given all the support we offer to each team, we give great emphasis to making them believe that the major success factor is themselves: Their passion, their determination, their hard work, their commitment, their willingness to give and take, their aspirations and perseverance. And we also give great emphasis on each one’s important role – to gradually become able to give back to the ecosystem, to the new startups…