New announcement 2025

PARTNERS PS is pleased to inform you that the new notice for the Digital Upgrade Scheme will be announced by Ministry of Energy, Trade and Industry (YEEB) within 1st semester 2025.

Are you ready to submit your application / investment proposal?

According to the Plan of the last announcement in March 2023:

Purpose

The Scheme aims to encourage investments in digital entrepreneurship and to strengthen the degree of integration of digital technology in businesses thus contributing to the strategic goals of the Cyprus Recovery and Resilience Plan to strengthen and accelerate the digital transition of the Cypriot Economy.

Its main objectives are:

• Strengthening the digital identity of businesses.
• Προώθηση της ψηφιακής επιχειρηματικότητας. Increasing the number of SMEs in Cyprus that use Information and Communication Technologies in their daily operations, including in the e-commerce sector.

Beneficiaries

The right to participate in the Scheme is available to existing small and medium-sized enterprises that will implement expenses in the category of digital upgrading (including e-commerce), as well as new small- and medium-sized enterprises whose investment proposal necessarily includes e-commerce/shop and/or the application of advanced digital technologies.​

The applicant company does not fall under the concept of a company in difficulty as defined in the Guidelines on State aid for rescuing and restructuring non-financial companies in difficulty (2014/C 249/01).

Non-Eligible enterprises with economic activities in the fields of fishing, aquaculture and activities related to the primary production or processing or marketing of agricultural products as noted in Annex I of the Treaty of the European Union.​

Sponsorship amount

The relevant table of eligible costs – software, equipment and services covered by the scheme is presented towards the end of this update, see the YEEB Scheme Guide.

Maximum eligible total budget of the business digital upgrade grant proposal:

• There is no maximum eligible expenditure limit, there is a maximum sponsorship amount of €50,000.
• ​Minimum eligible total budget of the proposal €5,000.
• Public Funding Rate 50%.

De Minimis Regulation the total amount of grants that can be granted to a single company per three (3) financial years amounts to €200,000. Business digital upgrade sponsorship is calculated.

When is the proposal period

It is expected that the specific time period will be announced within the second semester, which will be defined in the Call for Proposals.

How can your business / organization submit an application / proposal

It will be done electronically on the YEEB online platform http://fundingapps.mcit.gov.cy. It is expected that applications will be considered in the chronological order of submission.

The business, in addition to meeting the formal conditions, eligibility and regularity criteria, must be properly prepared. To prepare her application / proposal, she needs a BUSINESS PLAN, to prepare the proposal according to the YEEB model and then to submit the application / proposal electronically.

We advise it to have the following features:

• Well organized structure
• Completeness
• Clarity
• Feasibility

Special attention is recommended to the clear description of the following:

1. Record of digital development activities – documenting how the project is expected to address the needs and problems of the sector in which it falls and the capabilities offered by the business.
2. Preparation of a realistic time planning - specific plan of actions - way of organization, implementation and operation.
3. Documenting the sustainability of the results expected in relation to the intended objectives.
4. How to manage the digital development project.
5. Financial analysis and financing needs of the project.
6. Management of supporting documents, attachments, etc.

***The Proposal will need to be prepared by a Consultant / Researcher (cannot be an IT provider).

The Business Digital Transformation Team of PARTNERS PS can undertake the preparation of your company's Digital Upgrade Proposal.

The Proposal Submission Form should be completely filled out and all the supporting documents requested should be attached to it.

It is emphasized that after the final submission through the application system, any modification or completion of the submitted proposal or the submission and replacement of data, information or evidence will not be accepted.

Table of eligible expenses – software, equipment and services covered

* The table below can be varied or another expense can be decided as eligible:​

Equipment - Hardware

• Servers / Computers / Screens / Laptops / Tablets
• POS Desks
• Stocktaking machines, i.e. RFID Digital automatic recording and stock inventory systems
• Smart copiers / printers
• Special printers - Barcode readers/printers
• OCR systems - scan documents for archiving, scan invoices for transfer to software
• Servers (Servers, Bladeservers)
• Network equipment (Routers, Firewalls, WAFs, Load Balancers), Storage Networks (SAN), Gateways, Ups, etc.
• IoT - Internet of Things (devices connecting and exchanging data with other devices and systems over the internet)
  
• Electronic display / promotion / digital customer service kiosk equipment
• And other necessary related equipment

Software

Off the shelf software produced for the mass market

An off-the-shelf software produced for the mass market. The Plan covers the purchase of a user license and installation on the user's computer and/or a cloud computing license (cloud - cost coverage up to 36 months).

Software as a service (SaaS) allows users to connect to and use cloud-based apps over the Internet, i.e. Microsoft Office 365 - package purchase and customization services.

Specialized software custom made to meet special operating needs, e.g. Online Platform for Customer Service, Cooperation with involved parties, etc.

Tailor-made software designed and developed to meet all business requirements and related services from IT providers

• ERP – Enterprise Resource Planning
• Eshop / Website - Online Store / Website
• HRMS – Human Resources Management System
• CRM – Customer Relationship Management and Loyalty Systems / Applications
• Sales Orders Management – ​​Management of B2B Orders and other sectors
• Business Process Automation
• AML - Anti Money Laundering
• GDPR - General Data Protection Regulation - Total Solution Management
• Payment Gateway – Get paid electronically
• ECM – Enterprise Content Management
• DMS – Document Management System
• BPM – Business Process Management
• RPA – Robotics Process Automation
• Project Management Systems
• Security services
• Creative Programs
• Custom Made Programs Applications – Programs and applications tailored to the business needs and activities
• Mobile phone applications
• IoT - Internet of Things Software (connecting and exchanging data with other devices and systems over the internet)
• Be-spoke-Software Development
• e-Invoicing - Electronic invoicing
• Data Analytics Business Intelligence - i.e. Microsoft BI
• Secure Payment Systems
• eSign
• Intranet - Internal Communication Systems
• And other software systems

Services related to IT Systems such as Software Configuration, Data Transfer (initial system setup), Installation, Staff Training, etc.

Costs for implementation and certification for Digital Security (eg ISO27001) and/or Digital Functionality standards. For the sponsorship payment, the Certification or Accreditation Certificate from an Accredited Body must be presented.​

It is noted that the purchase of software can be implemented by purchasing services or by renting an application in a computing cloud (cost coverage up to 36 months).

Digital advertising/promotion (digital marketing) only for new eshops

• Social media – Facebook, Instagram (management, posts, campaigns)
• Google Ads
• SEO
• Blog
• Email SMS Campaigns (platform and management)
• Video - video creation for company product presentation, content creation, etc.
• And other services

Attention!!!

1. Expenditure incurred before the approval decision is issued is the sole responsibility of the applicant and does not bind the decision of the competent Authority regarding the approval or non-approval of the application.
2. Expenses incurred (date of invoice or receipt of payment) before the date of submission of the proposal are not eligible.
3. Equipment procured by the company under the Scheme must be new.
4. The quality of the offered services of the tenderer, as well as the experience and quality of the tenderer.
5. Invoices and related payment receipts must be issued in the name of the business.
6. Value Added Tax (VAT) is not an eligible expense.

Terms of use of the content of this update:

1. The content is not a consulting service.
2. Content may be modified or deleted at any time without notice and without commitment.
3. The content does not replace the official news content published by YEEB, in whole or in part.
4. The content of the page may differ at any time from the content of the YEEB due to new changes of the Plan.
5. PARTNERS PS is not responsible for any problems created by the use of the content of the page

Methodology we follow

We inform you that the Partners PS Team has prepared a significant number of business digital upgrade proposals in all three calls - December 2019, November 2022 and March 2023.​previous plans).

Thanks for the trust!