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Cyprus Research and Innovation Center Ltd
Organisation Details
Organisation  Cyprus Research and Innovation Center Ltd
Type Innovation Centre
Address 72, 28th Octovriou Street,
Office 301, Engomi,
Country Cyprus
Phone +357 22 282828
Profile Manager Panayiotis Philimis
EBN Membership

Sector expertise


CyRIC Research and Innovation Center is a pioneering Cypriot company developing disruptive products for the world markets and providing unique, high quality services to the industry. CyRIC is also the certified Business Innovation Center EU-BIC supporting the Cyprus entrepreneurial ecosystem. It offers Research and Innovation Services for its customers in the fields of engineering design and prototyping, electronics, communications and networks and IT/Software solutions. In addition, a number of specialised consultancy and entrepreneurship services are offered to startups and SMEs including investment and funding opportunities. CyRIC has achieved success stories for several of its projects building an impressive product portfolio and intellectual property on innovative technologies and received an award by the European Business Awards as the National Champion in Innovation for the year 2015/16. Over the years, we have proven ourselves by delivering these services with top quality criteria and results. We have a tracking record of completing Innovation and industrial Projects worth over 50 million Euros.

CyRIC supports research and technology developments from idea stage to commercialization and helps businesses, inventors and entrepreneurs to design and develop their inventions and ideas and to materialize their ideas into tangible projects and ventures. We consult and advise multiple businesses on organizational, operational, product creation and marketing issues. We offer specialized IT support on S/W related problems, such as development and deployment consultation and solution direction for complex IT related issues. We also offer digital facilities so that business can kick-start their product development. Additionally, through the CyRIC's Incubator GRAVITY we offer hands-on business consultation and guidance, covering a wide spectrum of business development needs from idea validation and implementation to IP and commercialization. GRAVITY is currently the only Technology Incubator in Cyprus supporting both the local industry and universities.

The Cypriot entrepreneurial ecosystem is still at a very nascent stage and CyRIC as a BIC plays an important role for its advancement the last decade. Given the size of Cyprus, our BIC role is national, thus we put all our efforts to set the solid foundations of this new-born ecosystem. Our services support startups from the idea level all the way to investment readiness whilst at the same time we are trying to identify and acknowledge potential investors in order to connect them with the ecosystem.


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