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 70 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
- 82 start-ups supported until 2022 (7 start-ups joined in 2022 & 7 new companies were established)
- €336,000 pro-bono services (€48,000 to 7 companies) in 2022
- €60,000 financial support received (€12,000 to 5 companies) in 2022
- 90+ new jobs created since 2015
- 70 mentors & 42 trainers since 2015
- 190 entrepreneurs trained since 2015
In 2022, IDEA was recognised as a valuable partner by the State through the signing of a Memorandum of Understanding with the Ministry of Research, Innovation & Digital Policy, thus materializing its strategic pillar for Public-Private Sector cooperation. The Memorandum included a grant of €100,000 for two IDEA start-ups, as well as joint activities to strengthen youth innovative entrepreneurship.
In 2022, IDEA has brought to life innovative businesses relating to healthtec, greentch and tourism sectors, through its current start-ups: MedicalHub, Premno, Humeral, Verum et Accuratus and LuvMySelf.
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.