The RPF was established in 1996, at the initiative of the Government of the Republic of Cyprus, to promote scientific and technological research in Cyprus.

The Research Promotion Foundation (RPF) is the national body responsible for supporting and promoting research, technological development and innovation. The implementation of its mission is achieved through the Foundation's main pillars of activities, which include the design and management of grant projects for research projects and innovative activities, support for the integration of Cypriot researchers into research activities in the European and international spheres and the provision of support services to enterprises for innovation development, technology transfer and international networking.