Digital Business Upgrade

Upcoming Digital Business Upgrade Plan

The purpose of JCSL Ltd is to help its corporate clients enhance their company's online performance by implementing and making the most of advanced marketing solutions.

Upcoming Project - Digital Business Upgrade

Choose JCSL Ltd for the digital upgrade of your business

The Digital Business Upgrading Project is about supporting Small and Medium Enterprises (SMEs) in the field of digital upgrading, enhancing the use of digital technology and the integration of new technologies (new software, digital marketing, equipment, use of e-commerce, etc.) in new and existing SMEs. The sponsorship project is part of the "Competitiveness and Sustainable Development" framework and is co-financed by the European Regional Development Fund (ERDF) and the Republic of Cyprus for the programming period 2021-2027.

The project aims to promote digital entrepreneurship, strengthen the production process and increase the number of SMEs involved in information and communication technology.

The programme is addressed to small and medium-sized enterprises, already active in the manufacturing sector, within Cyprus, which will proceed with the implementation of digital upgrade and digital technology related expenditure. More specifically, a manufacturing activity is defined as an activity included in Sector C in the Statistical Codes of Economic Activities, 2008 (based on the EU's NACE Rev. 2 Classification of Economic Activities). In addition, new SMEs that will invest in the creation of an e-shop and integrate e-commerce/e-shop into their activity are also eligible to participate.

The scheme cannot support small and medium-sized enterprises active in the primary production or processing or marketing of agricultural products as described in Par. I of the Treaty of the European Union, nor shall the programme be open to enterprises active in the fisheries and aquaculture sector.

We expect to announce soon the total amount of money expected to be allocated for the purposes of the project. The total amount is subject to change. We expect the percentage of public funding to be at least 50% of the total approved/eligible budget of the proposal. The remaining amount shall be covered by own contribution which may take the form of a loan (financing approval) from a credit institution or be covered by own resources.

Eligible expenditure

  • Equipment
  • Off the shelf software produced for the mass market
  • Specialised Software, Systems, Programmes and IT Services
  • Purchase of Services for other Digital Upgrade costs not directly related to IT systems (e.g. digital marketing, social media presence, video creation, etc.).
JCSL ltd marketing company. Website construction and promotion.

The first category for digital business upgrading includes costs for the purchase of new equipment necessary for the digital upgrade. This includes the supply of network equipment (e.g. firewall, router, load balancer), servers, storage networks, etc. Further equipment covered may be bar code readers based on the needs and activity of the business and/or other specific equipment that may be approved as part of the digital upgrade. It should be stressed that expenditure on the purchase of equipment is eligible only in cases where its use is shown to be necessary for the digital upgrading of the business.

The second category for digital business upgrading includes off-the-shelf software that is intended for mass market, available to the general public and ready for immediate use. The sponsorship covers the purchase for the license and installation on a PC and/or the license for Cloud and/or SaaS.

The third category refers to specialized software required for the business which include, among others, Software/Planning Systems such as ERP (Enterprise Resource Planning), HRMS (Human Resources Management System), CRM (Customer Relationship Management), BI (Business Intelligence), ECM (Enterprise Content Management), DMS (Document Management System), BPM (Business Process Management), RPA (Robotics Process Automation) or Specialized Applications such as Be-spoke-Software Development, e-store, Industrial Digitization, e-invoicing, data analytics, secure payments, etc. Other IT related services such as software configuration, data transfer, installation, staff training, etc. The expenditure covers either the purchase of the above software or the rental of a cloud application and the cost is covered for up to 36 months. The programme may cover additional costs that are approved as eligible and that promote the digitisation of the business following a Commission decision.

The fourth category aims to digitise the business but does not exclusively concern IT systems. This includes spending on digital marketing, interaction on social media platforms, creating videos to promote the business, enriching digital content and certification to Digital Security or Digital Functionality standards. A Certificate of Certification or Accreditation from the relevant accredited body is required for the payment of the amount. At the same time, consultant/researcher costs are approved for analysis of the business needs regarding the right steps to upgrade the business, as well as guidance on the application process. This expenditure amounts to EUR 600. It is stressed that the consultant/ consultant cannot be identified as a provider or supplier of products or services included in the investment proposal.