Reinforcing Med Microfinance Network System for Start-ups

EUC-Peak Innovation Center

  1. What are the existing microfinance measures in the country today? (indicate the number of measures)
TYPE OF MEASURE  MEASURE (indicate the names of the measures)
NATIONALEUC-Peak Innovation Center  
LOCAL (provincial, regional, municipal or equivalent territorial reality) 

B)     For each MEASURE ( to repeat for each measure)

Name/Title: Dr. Simona Mihai-Yiannaki
Name of responsible organization: Innovation Center for Entrepeneurship    
Starting year2018End yearongoing
The research center EUC-PEAK aims to research, support and accelerate efforts of Entrepreneurship, Business Innovation and Knowledge Transfer. The primary mission is to formulate a research community that creates research on the aforementioned topics. Research in such topics will focus on, but is not limited to, the impact of Entrepreneurship, Business Innovation and knowledge transfer in Cyprus and the near region.      
  1. What kind of activity does this measure finance?
Creation of new businesses  Yes
Strengthening of existing businesses  Yes
Specific investments – specify type (i.e. innovation, research, environmental transition, hiring, internationalization, purchase of goods)  Yes STEM, Art and green entrepreneurship, SDG and sustainable finance, ESG.
Training activities  Yes
Other (specify)The Entity does not Directly support startups, yet it provides support to beneficiaries in the form of services.  
  • What type of financing is it?
Low-interest loan (indicate the repayment time and, if present, the requirement for collateral)No  
Non-repayable grant (indicate the percentage of non-repayable fund)No If Yes, percentage of non-repayable fund:
Tax credit 
Other (specify) 
  • How does the activation of the measure work?
One-stop means 
Call with closing date 
  • Financial entity of the measure (indicate the resources allocated)
Overall amountn/a    
% facilitation for each recipient 
Minimum amount that can be financed 
Maximum amount that can be financedn/a  
Origin of financial resources (European, State, Regional authority, Municipal authority, other)Erasmus+ funded projects, and other EU funds  
  • Type of funded social structure (indicate if belonging to a specific category is required in order to access the measure)
 FemaleOver 50Unemployed (specify any type)Disadvantaged groups (specify type)Youth (specify age range)Other (specify)
Individual     Academics and active entrepreneurs, trainers from the industry  
  • Does the measure provide for accompaniment and training or only financial support?
Financial support + accompaniment/trainingYES
Only Financial support 
  • Is the measure considered a good practice and as such replicable in other national and / or international contexts?

C) How many initiatives have been financed in the last 3 years and for what economic amount?

Number of initiatives  Total economic amount N/A
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