Notes:
- Completion of the preliminary questionnaire is a prerequisite for arranging a meeting: https://forms.gle/x1HKdfqbFMmmJfv16
Upon completion and submission of the questionnaire, the officer in charge will contact you.
The Ministry of Energy, Commerce and Industry announces the Digital Business Upgrade Plan 2025. This plan, funded by the European Union’s THALEIA Cohesion Policy Program 2021–2027, aims to support the digital transition of small and medium-sized enterprises (SMEs) in Cyprus by providing financial support for investments in information and communication technologies and services (ICT).
The total budget for 2025 will be 14 million Euros.
Beneficiaries of the scheme are:
- Existing small and medium-sized enterprises (SMEs) that will implement expenditures related to digital upgrading.
- New SMEs (established after 01/01/2024 or inactive until 31/12/2023) whose investment proposal concerns e-commerce/store development and/or the promotion of advanced digital technologies (such as artificial intelligence and blockchain).
The project covers a wide range of costs related to digital upgrading, including:
- Equipment: Purchase of new network equipment (routers, firewalls), servers, storage networks (SANs), RFID solutions, electronic shelf labels (ESL), and other digital devices required for the digital upgrade.
- Off the Shelf software: Purchase of software licenses for installation on computers or access through cloud services (SaaS, PaaS, IaaS).
- Specialized Software and Services: Development, purchase, configuration, installation, and training for specialized software such as ERP systems, CRM platforms, e-commerce applications, and other tailored solutions.
- Other Expenditure:
- Expenditure on digital advertising and promotion, but only for businesses operating an e-commerce platform (subject to a maximum of 10% of the e-shop cost and up to €4,000).
- Consultancy services for needs analysis, technical project planning, and support during implementation (up to a maximum amount of €1,000).
The grant intensity is:
- 50% of the eligible costs, up to a maximum amount of €50,000.
- 70% of the eligible costs, up to a maximum amount of €70,000, for SMEs located in mountainous and disadvantaged areas.
Implementation period:
The investment must be completed within 12 months from the date of the approval letter.
The application period will officially open on 20 May 2025 at 09:00 AM.
With many years of experience and expertise in supporting and developing businesses through the exploitation of European and national funds and other funding programmes, our consultancy provides the necessary expertise and support to entrepreneurs wishing to take advantage of these funding opportunities. Our organisation’s experience includes providing expertise in the development, management and submission of funding proposals as well as the development of business plans and feasibility studies.