Announcement and Presentation of New Entrepreneurship Support Plan – 2nd Call for Proposals

We would like to inform you that the Ministry of Energy, Commerce and Industry in cooperation with the Cyprus Youth Organization (CYYO), has announced the 2nd Call for Proposals for the New Entrepreneurship Support Plan.

The aim of the project is to develop, support and promote entrepreneurship by focusing on specific population groups such as young people and women who wish to engage in entrepreneurship in any economic activity, except those listed in Annex I of the Plan Guide, by making use of their knowledge, experience, training and talents.


  • Young men and women who have been legally resident in areas under the exclusive control of the Republic of Cyprus for the last six months and have free access to work.
  • Unemployed or employed
  • Young men and women aged 18-29, men 30-50 and women 30-55
  • They have not been engaged in business activity in the last six months prior to their application, i.e. not self-employed or with more than 25% participation in an active business.

The sponsorship amount is 70% for young people aged 18-29 and 60% for men aged 30-50 and women aged 30-55.

The sponsorship is calculated on the cost of the eligible investment costs (Equipment, Special Facilities, Buildings – purchase, construction, renovation/remodelling, Promotion) with a maximum eligible budget perenterprise of €120,000 for activities related to manufacturing, services and tourism.

The total budget allocated for the needs of the Plan is €20 million and may be modified.

Interested parties can obtain the Guide to the Plan, which contains all the details, the Model Application

Form and other required forms, from the website of the Ministry of Energy, Commerce and Industry HERE.

For more information, those interested can contact the competent Ministry officials at 22867178/156/194 and the Youth Officer, Anna Loizou, at 22402615.

The date of application will be announced at a later stage.

CCCI, as the Coordinator of the EEN Cyprus, will organise a two-hour event on 14 May 2024, at 16:30, at the Limassol Chamber of Commerce, in order to present the Plan in detail and answer any questions. To register for the event, click HERE.

We would also like to inform you that the Cyprus Youth Organisation will hold a series of events to present the Plan. Details HERE.

Presentations at the events will be conducted in Greek. Participation is FREE of charge.

Remaining at your disposal.

Stalo Demosthenous Senior Officer CCCI

Department of European Affairs & Programmes Coordinator of Enterprise Europe Network Cyprus

Tel. 22889752,