IDEA Innovation Center
IDEA Innovation Center is the largest non-profit incubator-accelerator for start-ups on the island founded and supported by Bank of Cyprus, along with other partners. It further serves as an entrepreneurship hub for Cypriot young entrepreneurs.
IDEA’s cornerstone is its Business Creation Training Program, a comprehensive incubation-acceleration programme which hosts start-ups for a period of 9 to 12 months. The training curriculum is designed according to international standards, tailored to the start-ups’ needs, and reviewed annually to reflect current trends. Through its extensive panel of more than 80 high-profile mentors and trainers working mostly pro-bono, start-ups work closely with industry experts to receive feedback, the highest quality of mentoring, consultation and professional services.
The latest highlights
- 74 start-ups supported (12 start-ups joined in 2021 & 12 new companies were established)
- €576,000 pro-bono services (€48,000 to 12 companies) in 2021
- €60,000 financial support received (€12,000 to 5 companies) in 2021
- 90+ new jobs created since 2015
- 70 mentors & 42 trainers since 2015
- 160 entrepreneurs trained since 2015
In 2021, IDEA brought to life innovative businesses relating to the cleantech, accounting, food and beverage sectors, wildlife watching activities, and conversation recording and transcription through its current start-ups: Renewable Z, Logistaras, Picado, Bird Focus, and Recorn.
It achieved perhaps two significant recognitions in Cyprus – one of its start-ups was accepted into Y Combinator and secured a significant investment from a US fund, while another raised €700,000 through a crowdfunding platform, the greatest success to date for a Cypriot start-up.
Our IDEA Newletter
This newsletter regularly informs our stakeholders about our latest actions and events, as well as about the progress of our projects. The newsletter provides concise information on what we have achieved and which topics, related to enrepreunership and innovation, our focus is on.