The Youth Board of Cyprus, in collaboration with the Ministry of Energy, Commerce and Industry, announces the Second Call for applications under the “New Business Activity Support Scheme,” which is part of the “TH.AL.E.I.A.” 2021–2027 Program. The Scheme is co-funded by the Republic of Cyprus, the European Social Fund Plus (ESF+), and the European Regional Development Fund (ERDF) of the EU under the Cohesion Policy in Cyprus for the Programming Period 2021–2027.

The Scheme aims to promote, support, and develop entrepreneurship, with a focus on specific population groups, such as young people and women who wish to engage in any type of economic activity (excluding those listed in the Scheme Guides), by leveraging their knowledge, experience, training, and talents.

The grant rate is set at:

• 70% for young people aged 18–29,

• 60% for men aged 30–50 and women aged 30–55.

The grant is calculated based on eligible investment costs (equipment, special facilities, construction, purchase or renovation/arrangement of premises, marketing and promotion, and other expenses), with a maximum eligible budget per business of €120,000, for activities related to manufacturing, services, and tourism.

The total available budget for the Scheme is €20 million, subject to change.

Interested individuals can find the Scheme Guide, Application Form template, and all necessary documents on the Cyprus Youth Organization’s website, which links to the Ministry of Energy, Commerce and Industry’s official site.

🗓️ The application submission start date will be announced at a later stage.

📞 For more information, interested parties may contact the responsible officers at the Ministry at 22867178 / 156 / 194, or Youth Officer Anna Loizou at 22402615.

Scheme Presentations by Senior Commerce and Industry Officer, Mrs. Vicky Tsangkaridou:

• Nicosia – April 16, 2024 | 17:00–19:30 | Declaration of Participation Required
  (At the Central Offices of the Cyprus Youth Organization, 4th floor event hall)

• Limassol – April 24, 2024 | 17:00–19:30 | Declaration of Participation Required

• Sotira – April 25, 2024 | 17:00–19:30 | Declaration of Participation Required

Participation is free of charge.