Cyprus Mail
Cyprus

Applications open for SME incentives worth €50m

The energy, commerce and industry ministry on Monday invited applications under its €50m incentives scheme to boost the competitiveness of small and medium-sized enterprises (SMEs).

Co-financed by the EU and the Republic, the Thalia 2021-2027 programme aims to support and promote SMEs in manufacturing and other targeted sectors of the economy. The subsidy can be up to 60 per cent of an approved investment programme and can cover expenditure to build or expand buildings, buy new equipment, machinery or transportation means and other expenditure.

A total of €50m is being made available for the scheme, although the budget may be changed.

The guide on the programme with details as well as an example of an application and the required documentation is available on the website of the ministry’s service of industry and technology (www.meci.gov.cy/sit).

Applications will open at 8am on Tuesday. The deadline is 23.59 on September 30 or until the budget is exhausted.

There may be a second round of applications between March and September 2022, provided funding remains available.

Applications and accompanying documents can be submitted only online on https://fundingapps.mcit.gov.cy using Chrome, Firefox or Edge.

Priority will be determined on the date of the application which will be evaluated immediately. The maximum approved amount will not exceed the budget.

Further information is available from ministry officials on telephones 22867149/22867320/22867247/22867282 and 22867284.

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