Cyprus Mail

New entrepreneurship support schemes announced

New entrepreneurship support schemes worth €11m have been announced after a meeting of the house trade and industry committee.

The schemes are addressed to people aged between 20 and 40 and to women between 18 and 55 who are either unemployed or employed but do not own a business or were partners in one at least six months before the submission of their application.

Christos Fokaides, an official of the commerce ministry said that the schemes concern all activities except those that cover production, processing and marketing of agricultural and livestock products, the fisheries sector and wholesale and retail, which are already covered by other projects.

“For the funding of these schemes there is €15.3m available for the next seven years with possibility of further increases; for the first call €8m will be given for youth entrepreneurship and €3m for women,” Fokaides said.

He said that the aim is to give those funds within two years and that deadline for applications is May 11. For more information visit

Head of the European Commission’s representation in Cyprus, George Markopouliotis said that €950m had been allocated to Cyprus for 2014-2020 for development projects and that Cypriots can also draw funds through the EU’s competitive programmes.

He added that an information campaign on how citizens could draw these funds has already begun.

DISY’s Andreas Michaelides said that there are many funds amounting to millions that are not being utilised and that in April 29 an information day on the drawing of these funds will be held in Nicosia.


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