Significant interest was recorded in the third call of the Business Digital Upgrade Scheme, with the available budget of €14 million being fully allocated on the very first day of its launch. This was announced by the Ministry of Energy, Commerce and Industry (MECI), which confirmed that the submission of proposals has now concluded due to the exhaustion of the funds.

A total of 491 applications were submitted by both existing and newly established businesses through MECI’s electronic Grant Scheme System. These applications will be evaluated on a first-come, first-served basis.

The scheme is part of Cyprus’ “THALIA 2021–2027” programme, co-financed by the European Union’s European Regional Development Fund (ERDF) and the Republic of Cyprus, within the framework of the EU’s Cohesion Policy.

The Digital Upgrade Scheme aims to support the digital transformation of Cypriot enterprises, enhancing their competitiveness, productivity, and adaptability to modern technological standards.