Reinforcing Med Microfinance Network System for Start-ups

Gravity Ventures Incubator

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)
NATIONAL	Gravity Ventures Incubator




LOCAL (provincial, regional, municipal or equivalent territorial reality)

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

Name/Title: Moyses Moyseos
Name of responsible organization: Gravity Ventures Incubator
Website: www.gravity.ventures
NATIONAL OR LOCAL		N/L
Starting year	2015	End year	ongoing
Gravity Ventures in the only technology incubator on the island of Cyprus that provides high-quality standards of support under the umbrella of the European BIC network and the only incubator on the island that can provide customized service packages for incubated startups

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 Health, Biotech, AgroFood, Space, Marine, Transport/Mobility, Energy, CleanTech
Training activities	Yes
Other (specify)

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	Yes

Financial entity of the measure (indicate the resources allocated)

Overall amount	200k
% facilitation for each recipient
Minimum amount that can be financed
Maximum amount that can be financed	n/a
Origin of financial resources (European, State, Regional authority, Municipal authority, other)

Type of funded social structure (indicate if belonging to a specific category is required in order to access the measure)

	Female	Over 50	Unemployed (specify any type)	Disadvantaged groups (specify type)	Youth (specify age range)	Other (specify)
Individual
Company						Health, Biotech, AgroFood, Space, Marine, Transport/Mobility, Energy, CleanTech

Does the measure provide for accompaniment and training or only financial support?

Financial support + accompaniment/training	YES
Only Financial support

Is the measure considered a good practice and as such replicable in other national and / or international contexts?

YES
NO

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

Number of initiatives 12

Total economic amount 2.4m