Scheme for the Digital Upgrade of Enterprises

01.

Beneficiaries

  • Eligible Entities:

    • New or existing Micro, Small, and Medium Enterprises that will incur expenses in the category of Digital Upgrading (including e-commerce) and are located or will be located in areas under effective control of the Republic of Cyprus.

    Excluded Activities:

    • Activities related to the primary production, processing, or marketing of agricultural products as listed in Part I of the Treaty on the Functioning of the European Union.
     

Funding Intensity:

  • The grant intensity (% of grant) is 50% of the total approved/eligible budget of the proposal.

Budget Limits and Public Funding Percentage:

  • Maximum Eligible Total Budget: €50,000
  • Minimum Eligible Total Budget: €5,000
  • Percentage of Public Funding: 50% of the total approved/eligible budget of the proposal
 

 

02.

Digital Upgrading Actions

• Website
• Online shop
• e-Invoicing
• Electronic Invoicing
• ERP – Enterprise Resource Planning
• HRMS – Human Resources Management
• System CRM – Customer Relationship Management
• BI – Business Intelligence
• Data Analytics

Data security
• ECM – Enterprise Content Management
• DMS – Document Management System
• BPM – Business Process Management
• RPA – Robotics Process Automation
• Be spoke Software Development
• PMS (Property Management Systems) 
• WAREHOUSE MANAGEMENT SYSTEM (WMS)

03.

Categories of Eligible Expenses

When preparing the overall budget of the business, it is mandatory to link the projected expenses with the following categories of eligible expenses:

  • Equipment
  • Off-the-shelf software produced for mass market
  • Specialized Software, Systems, Programs, and IT Services
  • Other Digital Upgrade expenses not directly related to an IT System

04.

Evaluation Criteria

Proposal Quality

  • Completeness and clarity of the proposal regarding the physical and financial aspects of the project, the expected deliverables, and the implementation plan.
  • Quality and suitability of the design of the proposed project in relation to the needs it aims to address.

Proposal Readiness

  • Presence of progress/readiness in project planning and tendering. Examination of the bids and the quality of the offered services.
  • Assessment of whether there is the possibility to fund the remainder (beyond the grant) of the investment from own funds.

Proposal Impact

  • Enhancement of the business’s competitiveness and relevance of the proposed investment with the goals of the Scheme.
  • Sustainability and long-term viability of the expected results and impacts of the project after its completion.
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