Scheme for the Enhancement of Youth Entrepreneurship

The aim of the Scheme is to develop, support and encourage entrepreneurs between the ages of 20 - 40, who wish to establish an enterprise in the sectors of manufacturing, services, tourist activities and e-commerce.Emphasis is given in the development of new technologies, in the use of innovative methods of production and promotion of products and services, in the growth of business skillfulness in the sector of modern enterprising activities aiming at healthy competitiveness.


Results/Outcomes/Products: This scheme applies to young people between the ages 20 to 40 who had not any previous business activity in any sector, for at least a period of 6 months before the date of the submission of their proposal, are either unemployed or employees.Eligible candidates may participate in only one proposal and their participation must represent at least 75% of the total share / corporate capital. Results: 451 applications for funding were approved between 2014 – 2020. Total Budget: €15.300.000
Name of the coordinator: Industry and Technology Service MECIT
Location: All Cyprus