The Ministry of Energy, Commerce, and Industry (MEI) has announced a new call for proposals under the Digital Upgrading of Enterprises Plan, part of the broader THALEIA 2021-2027 Program. Co-financed by the European Regional Development Fund (ERDF) and the Republic of Cyprus, this initiative is designed to bolster digital transformation across the island’s businesses.
With a total budget of €30 million for the 2021–2027 programming period, the plan includes €14 million specifically allocated for this funding round. These funds include savings from earlier calls and are aimed at fostering digital investments among small and medium-sized enterprises (SMEs) in Cyprus.
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Boosting Digital Integration For Cypriot Businesses
The plan targets businesses already established or planning to operate in areas under the Republic of Cyprus’s control. It encourages investments in digital technologies, including e-commerce and advanced IT solutions, to enhance competitiveness and growth.
Eligible businesses can receive funding covering up to 50% of the eligible project costs, with grants of up to €50,000. These funds can be used for a range of digital upgrades, from software and IT services to essential equipment.
For businesses located in mountainous or economically disadvantaged areas, the sponsorship intensity increases, covering 70% of costs, with grants up to €70,000.
Key Dates And Application Process
Applications will open on May 20, 2025, at 9:00 AM, and will be accepted until the funds are exhausted. Submissions must be made through the Ministry’s online Grant Scheme System, accessible via the website fundingapps.meci.gov.cy, using supported browsers like Chrome, Firefox, and Edge.
Priority will be given based on the order of submission, with the total approvals capped by the available budget. Applicants are urged to ensure their investment proposals are fully developed and backed by the necessary documentation before submitting.
This funding round offers a significant opportunity for SMEs in Cyprus to modernise their operations and stay ahead in an increasingly digital world.
The Startup World Cup Cyprus Finals 2025, presented by Mellow and organized by Aivitam Ventures in partnership with Pegasus Tech Ventures, is a prestigious competition that offers local and international startups the opportunity to compete for a $1 million investment prize at the Grand Finale in San Francisco.
Partners
- Title Partner: Mellow
- Silver Partner: Dream Play
- Bronze Partner: Cybergizer
- Bronze Partner: Sendpulse
- Venue Partner: BrainRocket
- Media Partner: The Future Media
- Global Organizer: Pegasus Tech Ventures
- Cyprus Organizer: Aivitam Ventures
