IDEA Incubator – Accelerator for startups continues to support the young people that aspire to realise their dreams and aspirations for creating an innovative business. The 3rd cycle of IDEA starts soon and new applications are now accepted from young and ambitious entrepreneurs who wish to create a viable business out of their innovative idea. IDEA is non-profitable organisation that aims to develop successful startups, but also to contribute actively in the transformation of the culture in our country, more towards innovation and entrepreneurship.

Startups hosted at IDEA enjoy:

  • comprehensive business creation training
  • mentoring from industry experts
  • consultancy in business legal matters, accounting, marketing and technology (ICT)
  • fully equipped office space
  • business opportunities and contacts with businesspersons of their industry
  • networking with key persons
  • access to investors when the time is right
  • guidance on European schemes
  • initial capital (seed funding) of EUR €12.000 from the Bank of Cyprus
  • networking with local and ecosystem of neighbouring countries
  • access to specialised mentoring in the area of financial technology – fintech

At the same time, IDEA will acquire a 5% share capital in each company, ensuring in this way the sustainability of its support to young entrepreneurs and new startups each year.

IDEA looks for small groups (2-5 persons) with creative and innovative ideas. Any economic sector is welcome, as soon as it has potential to expand internationally. We do welcome proposals for “Financial Technology-Fintech”.

IDEA is a Corporate Social Responsibility initiative of the Bank of Cyprus and the Cyprus International Institute of Management (CIIM). At the same time, it enjoys the support of a strong partner network: Innovation/Leo Burnett, CYTA, Lellos P. Demetriades Law Office and Deloitte Cyprus.

IDEA has also strong connections with the innovation ecosystem both in Cyprus and abroad, including Israel with whom IDEA exchanges regular visits. Strong connections are also held with the diplomatic missions of countries in Cyprus that are distinguished for their interest in supporting innovative activities.

Applications are submitted electronically via the website of IDEA. For terms and conditions for participation and for more information, you may visit www.ideacy.net or call on 22128144 or send an email at [email protected].

Posted by Antonis Papadopoulos

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