Cyprus Research Promotion Foundation - RPF
Topic of the practice
“Innovation Vouchers” The measure attempts to create a simple and effective mechanism, which will allow SMEs to understand the importance of innovation.
Good Practice Information
The main objective of this Action is to encourage SMEs to familiarize with the concept of innovation, to participate in innovation activities and, consequently, to improve their competitiveness levels. The Action promotes SMEs to approach research and academic institutions in order to find solution to a specific problem relating to their operation or their products and services.
The only stakeholder involved in the evaluation process and management of the measure is Cyprus Research Promotion Foundation. Innovation vouchers were introduced and succesfully run in several countries all over the world, so it has proved simle tranferability to various frameworks. Only SMEs located in Cyprus can submit the project proposal.
Evidence of success
This measure satisfy the need to have a simple procedures as far as it concerns the submission of proposals and the implementation of the projects. Evaluation of the measure was expected to begin in 2012, but no results are known so far.
Contact details to obtain further information on the practice
Larnaca District Development Agency