ΘΑλΕΙΑ 2021-2027

Examples of Projects

Scheme for the Development of New Business Activity

Μια-Ευρώπη-πιο-Έξυπνη
Policy Objective 1

A more Competitive and Smarter Europe

Μια-Ευρώπη-πιο-κοινωνική
Policy Objective 4

A more Social and Inclusive Europe

Programme Priorities

Competitive, Smart
& Digital Economy
Supporting Youth Employment

Specific Objectives

Strenghtening the Competiveness
of SMEs
Promoting the Employment
of the Unemployed

Project Budget

€40M

60%
EU Contribution

Implementation Period
17/05/21-31/12/26

Pan-Cypriot

Implementing Body
Ministry of Energy, Commerce and Industry (MECI)

22867194, 22867178, 22867156, 22867317, 22867109

vtsangaridou@meci.gov.cy,
axanthopoulou@meci.gov.cy,
sprodromou@meci.gov.cy,
snicolaou@meci.gov.cy, apapakyriakou@meci.gov.cy

Short Description/Objective

The Scheme aims to develop, support and promote entrepreneurship among young people aged 18-29, males aged 30-50 and females aged 30-55, that wish to create a business, by leveraging their knowledge, experience, training and talents.

The Scheme subsidises costs, such as equipment, purchase , construction and renovation of buildings, interior design, visibility-promotion.

Planning of Calls

The available budget of the Scheme (€40 mil.) is planned to be launched through two Calls of Proposals.
The first Call (€30 mil.) was launched during the period May 2021-December 2021, while the second one (€10 mil.) is expected to be launched in March 2024.

Expected Benefits/Outcomes

The Scheme is expected to bring:

  • Acceleration of economic activity, through the development of new business activity, based on knowledge, technological upgrade and innovation, enhancing in this way the competitiveness of all businesses in the country
  • Creating new jobs.
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