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Sponsorship Scheme to Enhance Youth Entrepreneurship - Cyprus

Information program Young Entrepreneurship Support Plan


Program Description
The Plan aims to develop, support and promote the entrepreneurship of young people aged 20 to 40 who wish to do business in any economic activity other than those listed in Annex I attached to the Plan Guide as "Ineligible Economic Activities" utilizing knowledge, their training and talents. This objective is intended to be achieved through the use of incentives in the form of grants.

Special emphasis is given to the utilization of new technologies, the use of innovative methods of production and promotion of products and services, the development of entrepreneurship in the field of environment and in general the promotion of modern business activities aimed at creating new viable, dynamic, evolving and competitive small and medium enterprises. SMEs).

The Plan is co-financed by the Republic of Cyprus and the European Regional Development Fund of the EU. in the framework of the Business Program "Competitiveness & Sustainable Development".

Eligible to participate in the Scheme are young men and women who legally reside in areas that are effectively controlled by the Republic of Cyprus for at least six (6) months before submitting their application and have the right to free access to work and who:

  • They belong to the age group of 20 to 40 years (ie to have completed the 20th year of their age and not to have completed the 41st year on the date of submission of their proposal).

  • They are unemployed or employed at the date of submission of their proposal.

  • They did not do business at least six (6) months before the date of submission of their proposal.


Starting a business means starting a profession as a self-employed person or participating in a business as a partner with a percentage of more than 25%.

It is noted that citizens of the Republic of Cyprus who, for reasons of work, study or retraining, have not proved their permanent residence in the State-controlled areas for at least six (6) months prior to the submission of the application, have the right to submit an application under the Plan provided that their immediate family (spouse, parents) meets the criterion in question.


Eligible Costs
- Equipment, Special Facilities, Buildings - Erection, Buildings - Renovation / Landscaping,
- Training,
- Promotion,
- Other Expenses,
- Capital

Type of Aid: 
Co-financed by the Republic of Cyprus (15%) and the European Regional Development Fund of the EU. (85%) as a non-refundable sponsorship.

Announcement Budget :  € 6 million

THE  Ependysis Business Consultants ,  with executives who have previously evaluated and not only submitted NSRF investment proposals, can successfully undertake the submission as well as the monitoring of your investment plan.


For more information call the company phones:  2112155988  or contact via  e-mail  in the 

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