Launched in 1985, EUREKA is an intergovernmental framework through which industry and research institutes from European countries and the European Commission develop and exploit the technologies crucial to global competitiveness and a better quality of life.
EUREKA currently has 42 full members. EUREKA projects concentrate on the development of marketable products and services. Projects are generated on a ‘bottom-up’ basis.
The EUREKA Network:
- act as leading facilitator of innovation, providing a proven platform for international R&I cooperation,
- promotes and supports market-oriented international R&I project generation, and
- facilitates access to finance for companies involved in its projects.
EUREKA does not provide direct financial support for projects – this is the responsibility of the EUREKA members. The Research and Innovation Foundation funds EUREKA projects under the “EUREKA Cyprus” Programme.
Cyprus has been a member of the “EUREKA” Organization since 2002, with RIF being the EUREKA National Office in Cyprus. RIF has the responsibility of managing Cyprus’ participation in the Organization’s activities.
As part of its role RIF has established the “EUREKA Cyprus” Program as the mechanism for selecting and supporting Cypriot organizations wishing to participate in “EUREKA” projects.