The Innovation Funding Website has been co-funded by InnoFun INTERREG IVC, a European project that the University of Cyprus participates in. The main objective of “InnoFun” is to improve regional policies concerning innovation funding in order to achieve the ultimate goal of making the selection criteria more flexible and reducing the communication gap between innovation and finance/market/people. The Access to information will be easier and the innovative ideas funding will be speed up.
The University of Cyprus (UCY) through InnoFun had the opportunity to research and study open innovation issues and problems in Cyprus, as well as meet, discuss and interview many relevant local stakeholders, decision makers, policy makers, innovation experts and practitioners about the situation regarding innovation funding opportunities in Cyprus. Through this interaction UCY is now in a position to actively get involved, collaborate with the stakeholders and policy makers in Cyprus and assist in finding solutions to problems. UCY has already produced a number of (internal) reports regarding the Cyprus situation on funding opportunities, as well as a research paper published in ICEIRD 2014. Moreover, UCY has organized a Stakeholders Meeting Event in June 2014 in which local stakeholders, decision makers, policy makers, innovation experts and practitioners from Cyprus participated to discuss issues and best practices regarding Innovation Funding in Cyprus, as well as contribute to the solution of related problems.
Besides UCY, the Cyprus Research Promotion Foundation, the Ministry of Energy, Commerce, Industry and Tourism of Cyprus, as well as the Directorate General for European Programmes, Coordination and Development of Cyprus were very interested in the methodologies of InnoFun, as well as interested in studying the best practices applied in other countries participating in the Innofun Project in order to benefit by adopting them (or parts of them) in Cyprus in the new programmatic period 2014-2020.