Funding Opportunities in the Republic of Cyprus

Each year, (usually end of June) funding becomes available for promoting digital entrepreneurship in the Republic of Cyprus under the regulations of the European Union.

Private schools, institutes and training centers can be qualify to apply for financial support to integrate FUNecole® as an eLearning solution into their curriculum

The scheme aims to enhance the degree of integration of digital technology in enterprises to strengthen digital identity and increase the number of SME’s that use ICT to help promote digital entrepreneurship. Sponsorship is expected to be 50% of the approved investment program with a maximum sponsorship of € 20,000 per company.

Eligibility

SMEs that use ICT are entitled to apply if registered as a Limited Company (Ltd). This would entail a digital upgrade in relation to their existing technological usage and would be entitled to receive 50% of related costs if approved.

Process

Interested parties are required to complete an Application Form, accompanied with a report and various supporting documents for approval. Once the budget is approved they can begin implementing solution of choice. According to government officials all applications are processed within a 3-month time frame.

Getting Started

More information on this scheme can be found from the Ministry of Energy, Commerce and Industry (tried inserting this link to PDF below but does not work)