EU-backed €50m scheme aims to create 800 Cyprus businesses and 1,600 jobs
An EU-backed initiative in Cyprus plans to support the creation of about 800 new businesses and more than 1,600 jobs, using cohesion-policy funds channelled into business development and related sectors. The figures come from officials describing the THALIA 2021–2027 programme and its two funding calls, totaling €50 million.
What the scheme covers
The plan relies on the THALIA 2021–2027 programme, with two EU-cofinanced calls: a €30 million allocation (launched in 2021) and a €20 million allocation (launched in 2024). Officials say the combined funding aims to spur new, sustainable, and competitive businesses in Cyprus, contributing to broader regional and urban development goals.
Key facts you should know
- Total potential impact cited: about 800 new businesses and more than 1,600 jobs.
- Funding total: €50 million, split €30m + €20m across two calls.
- Program: THALIA 2021–2027, funded by EU cohesion funds and the Republic of Cyprus.
Who could be helped
The scheme targets new entrepreneurial ventures and small businesses that can grow under cohesion-policy support. It specifically aims to encourage sustainable and competitive enterprises across Cyprus, potentially affecting aspiring entrepreneurs, small firms, and employment in related sectors.
What to do next if you’re interested
Potential applicants should monitor official programme communications for eligibility criteria, application windows, and evaluation criteria tied to the THALIA 2021–2027 calls. Local business development offices and national counterparts may provide guidance on preparing proposals and aligning projects with the scheme’s goals for sustainable growth and job creation.
Limits, questions and caveats
The article notes plans and targets reported by officials; it does not provide detailed data on approved projects, success rates, or distribution across Cyprus. Official funding data indicate that the 800 businesses and 1,600 jobs relate to the total €50 million for the scheme, but no granular breakdown is provided in the cited source. Readers should look for official programme updates to confirm actual allocations and outcomes.
Which sources did Setup in Bahrain review?
Setup in Bahrain reviewed the following source material before preparing this explanatory article.
The links remain visible so readers can inspect the evidence, compare dates and context, and confirm current requirements with the relevant authority.
- cyprus-mail.com — evidence source reviewed for this article.
Information and responsibility notice: This article is general information based on the cited material available when published. It is not legal, tax, immigration, medical, financial, banking, or investment advice; it does not create a professional-client relationship; and it is not a guarantee of outcome, availability, accuracy, or eligibility. Rules, schedules, prices, and third-party information can change. Confirm material decisions with the relevant authority and an appropriately qualified adviser before acting.