Cyprus is rapidly developing into a dynamic hub for innovation, attracting a growing number of entrepreneurs and startups. To support entrepreneurship, several national and EU-funded schemes are available to help startups launch and scale.
Here’s an overview of the most relevant funding opportunities and subsidies currently available for startups in Cyprus.
1. Youth and Women Entrepreneurship Scheme (Ministry of Energy, Commerce and Industry)
🔹 Purpose: Support young entrepreneurs (aged 20–39) and women of any age to start their own business
🔹 Grant: Up to 70% of eligible costs
🔹 Maximum Funding: €120,000
🔹 Sectors Covered: Trade, Services, Manufacturing, Tourism
📝 Applicants must not be engaged in any business activity at the time of application.
2. Startup Innovation Schemes (Research and Innovation Foundation – RIF
🔹 Purpose: Financial support for research-driven, innovative startups
🔹 Categories:
- PRE-SEED: Up to €100,000 for early-stage ideas
- SEED: Up to €500,000 for product development and validation
- INNOVATE: Up to €1,000,000 for startups ready to scale
💡 Projects must have clear technological innovation and market potential.
3. European Programs (Horizon Europe, EIC Accelerator, etc.)
🔹 Purpose: Support for technology-based startups across the EU
🔹 Funding: €50,000 to over €2.5 million
🔹 Requirements: Strong business plan, partnerships with universities or R&D centers
🔹 Managed through: National Contact Points (e.g. RIF Cyprus)
4. Business Consultancy Support Scheme
🔹 Purpose: Subsidy for acquiring professional business consultancy services
🔹 Grant: Up to 90% of total cost
🔹 Ideal for: Startups that require strategic, export or marketing guidance
5. Private Investment Funds & Business Angels
🔹 Active investors and accelerators in Cyprus include:
- CyRIC & Gravity Ventures
- Kinisis Ventures
- Cyprus Investment Fund (CIF)
💼 Investors often offer funding along with mentorship and networking support.
6. Crowdfunding & Corporate Sponsorships
🔹 Startups can raise capital through platforms like Kickstarter or FundedByMe
🔹 Large companies in Cyprus occasionally offer sponsorship programs for impact-driven or green startups
How YMC Consulting Can Help
At YMC Consulting, we provide expert support in:
- Identifying the right funding program
- Preparing and submitting grant applications
- Financial and compliance management of funded projects
- Business strategy and growth planning
Contact us today to discover how you can
info@ymcconsultings.com
leverage Cyprus’ startup ecosystem
Sources:
- Ministry of Energy, Commerce and Industry – Entrepreneurship Schemes
- Research and Innovation Foundation – Funding Programs
- Horizon Europe & EIC Accelerator
- Cyprus Government Grants Portal
- CyRIC | Gravity Ventures
