Objective IrisPhone was born in early 2014 as an entrepreneurial project of two young Cypriot engineers who have set out to reduce the digital divide by designing a novel and intuitive communication interface for smartphones that requires neither key or touch-screen pressing nor voice-based commands. IrisPhone delivers technology innovation, but also social innovation, by enabling its target users, mainly elderly people, to remain connected and avoid risk of exclusion. Today, almost 2 years into development, and after raising funds which led to the expansion of the team and the foundation of iResTech Ltd, the first IrisPhone prototype has already been successfully tested with a wide group of elderly users in Cyprus. In light of these results, MTN Cyprus, subsidiary of the multinational mobile telecommunications company with more than 230 million users, has expressed its interest in incorporating our future product into its retail space. Consequently, we anticipate to generate an accumulated net profit of €4,6 to €8,9 million (depending on which business model is chosen) within the first five years of commercialisation.With the SME instrument’s support, iResTech Ltd aims to explore, plan and finally execute a business plan for the upscale, demonstration and future market introduction of IrisPhone. Fields of science natural sciencescomputer and information sciencesinternetinternet of thingssocial sciencessociologysocial issuessocial inequalitiessocial scienceseconomics and businessbusiness and managementbusiness modelssocial sciencessociologygovernancecrisis managementengineering and technologyelectrical engineering, electronic engineering, information engineeringinformation engineeringtelecommunicationsmobile phones Programme(s) H2020-EU.2.1.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT) Main Programme H2020-EU.2.3.1. - Mainstreaming SME support, especially through a dedicated instrument Topic(s) ICT-37-2015-1 - Open Disruptive Innovation Scheme (implemented through the SME instrument) Call for proposal H2020-SMEInst-2014-2015 See other projects for this call Sub call H2020-SMEINST-1-2015 Funding Scheme SME-1 - SME instrument phase 1 Coordinator IRESTECH LTD Net EU contribution € 50 000,00 Address AGIAS ELENIS 6 AGIAS ELENIS BUILDING 4TH FLOOR FLAT/OFFICE 43 1060 NICOSIA Cyprus See on map SME The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed. Yes Region Κύπρος Κύπρος Κύπρος Activity type Private for-profit entities (excluding Higher or Secondary Education Establishments) Links Contact the organisation Opens in new window Participation in EU R&I programmes Opens in new window HORIZON collaboration network Opens in new window Total cost € 71 429,00