RISE is funded by EU through the TEAMING program of HORIZON 2020. The consortium consists of the Municipality of Nicosia-Cyprus, the three public Universities of Cyprus — University of Cyprus, Cyprus University of Technology and Open University of Cyprus — and the prestige research institutes Max Plank Institute for Informatics – Saarbrucken, Germany and University College London (UCL) – UK. The project aims at the establishment of an interdisciplinary Research Centre in Cyprus to integrate research in the Visual Sciences, Human Factors and Design, and Communications and Artificial Intelligence. The grant awarded is 0.5 million EUR for phase 1 with potential funding of 15-20 million EUR in phase 2 of evaluation.
More about the project here (in Greek)