HOW TO APPLY

Start-ups at IDEA enjoy a total estimated worth of up to €60.000 in benefits:

• €12.000 seed capital from the Bank of Cyprus
• Business creation training & mentoring from industry experts
• Specialized mentoring in Financial Technology – fintech – and cultural / art proposals
• Consultation in legal, accounting, ICT & Marketing areas
• Business development opportunities, networking, access to investors
• Enthusiastic in-house staff, nurturing in-residence entrepreneurs
• Utilisation of fully equipped co-working spaces for 9 months
• Extraversion activities in order to internationalise and expand their business abroad (such as participation in conferences in Israel & Europe)
• Weekly consultation sessions with a mature business person, so that the startups can receive customized feedback and personalised guidance
• In cooperation with Amazon Web Services (AWS) we offer the opportunity to provide startups with low cost, easy to use infrastructure needed to scale and grow any size business. AWS Activate is a program with resources designed to help startups get started on AWS.

Indicative timelines*

• Opening of new call for Applications – December 2019
• Closing of acceptance of new applications – Extended until 2/3/2020
• First evaluation – February 2020
• Formal Pitching of selected teams – 10/3/2020
• Initiation of training sessions – 16/3/2020
• 2nd Formal evaluation – Entry stage B – 10/7/2020
• 1st tranche of seed funding** – July 2020
• 3rd Formal evaluation – November 2020
• 2nd tranche of seed funding** – December 2020
• End of IDEA 5th cycle – 31/12/2020
• Expected 5th IDEA Graduation Ceremony – February 2021

*timelines may change based on needs at the absolute discretion of IDEA Management

**subject to completion of requirements of the startup program – satisfactory Pass Rate.