The Scheme aims to support existing and new small and medium-sized enterprises (SMEs) to strengthen new circular economy investments to make their products, production processes, and business practices more environmentally friendly. Specifically, the Scheme aims to enhance the degree of circularity of businesses, improve product design, promote innovation, provide consumers with innovative and longer-lasting products, and create new jobs.
*A prerequisite for all interested applicants is the completion of the preliminary questionnaire: https://forms.gle/1eonkpMWcb7M92Ng8
Upon completion and submission of this questionnaire, a responsible officer will contact you as soon as possible for further discussion.
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Applicants can be new or existing small and medium-sized enterprises (SMEs) established or to be established in Cyprus, excluding areas not controlled by the Republic of Cyprus.
The types of investments for achieving the Circular Economy model are:
- Investments that improve the efficient use of resources through:
- Net reduction of resources consumed for producing a given quantity
- Replacement of primary raw materials with reused (recycled) ones
- Investments for the prevention, reduction, and reuse of waste
- Investments for the collection, sorting, decontamination, pre-processing, and processing of products, materials, or substances
- Investments concerning the separate collection and sorting of waste.
The funding rate will be 50% of eligible expenses, with a maximum funding limit of €400,000.
The total amount available for the scheme is 14.4 million euros, with a minimum proposed investment per application of €30,000.
Eligible Expenses:
| 1. | New machinery & Equipment |
| 2. | Transportation Vehicles |
| 3. | Feasibility Study |
| 4. | Business Coaching |
| 5. | Personnel Training |
Non-Eligible Activities:
| 1. | Activities related to fossil fuels. |
| 2. | Activities falling under the European Union Greenhouse Gas Emission Allowance Trading Scheme |
| 3. | Activities related to landfills, incinerators, and mechanical biological treatment plants |
| 4. | Activities whose long-term waste disposal may cause damage to the environment. |
| 5. | Activities related to the fisheries, aquaculture, and primary production of agricultural/livestock products sectors. |
| 6. | Activities related to the production of wines and vinegar from wine |
The Scheme falls under the General Block Exemption Regulation (EU) 651/2014 for Expenses 1 & 2 and the De Minimis category for Expenses 3, 4 & 5.
Submission period: until 30/09/2024 or until the available budget is exhausted.