The New Business Activity Support Plan is a funding scheme introduced by the Ministry of Energy, Trade and Industry, now accepting applications. The project aims to encourage the youth in Cyprus to build new businesses with the help of some monetary funding.
The plan is included in the “TH.ALEIA” Program 2021-2027 and is co-financed by the European Regional Development Fund (E .TPA) of the European Union and the Republic of Cyprus.
The scheme has a total monetary budget of €30 million (this may be subject to changes). Applicants have the possibility of receiving funding of up to € 84,000! (70% of a 120K budget plan)
Scheme specifications:
Beneficiaries & Percentage of Funding per Age Category:
- 18–29 Men & Women – 70% Funding
- 30–50 Men – 60% Funding
- 30–55 Women – 60% Funding
Eligible Applicants:
- Unemployed or Employee
- No more than 25% shares owned within an active business
Eligible Business Activities:
- Processing/Manufacturing
- Services
- Tourism
- E-commerce
Excluded Activities:
- Production, Processing & Trading of Agricultural Products
- Fisheries & Aquaculture
- Wholesale & Retail Trade
Eligible Costs:
- Equipment
- Special Infrastructure
- Buildings (Construction, Renovation, Purchase)
- Business Promotion
- Other costs: 7% (flat-rate) of the total eligible costs, including the consultant fee
Open for submission until 30.12.2021
Applicants are encouraged to submit here: https : //fundingapps .mcit .gov .cy
At Soft Surge, we offer services including Web Crawling and Scraping, Data Aggregation, and fully-functional E-shop websites. Help us help you build your new business while getting aid from the New Business Activity Support Plan.
Read more on eurosc.eu and meci.gov.cy