Cyprus Chamber flags EU Cascade Funding for local SMEs

The Cyprus Chamber of Commerce and Industry (Keve) has publicised European funding opportunities for Cypriot SMEs and startups, specifically through the EU’s Cascade Funding mechanism. The move targets technology-focused businesses, according to reporting by the Cyprus Mail.

Cascade Funding, typically distributed via calls for proposals, offers non-dilutive grants to support innovation projects. While the Cyprus Mail did not specify amounts or timelines, the mechanism has previously directed tens of millions of euros to similar initiatives across member states. Earlier this month, StartupReader covered Moldova’s €1 million EU-backed startup fund, the first of four planned rounds, suggesting a pattern of regional funding expansion.

The announcement follows recent EU budget negotiations that flagged journalism funding as a new priority—marking the first explicit media support tied to the bloc’s financial planning. Meanwhile, campaigners have accused lawmakers of weakening proposals intended to simplify capital-raising for early-stage companies, a tension StartupReader reported on October 15. In parallel, the European Investment Fund’s €5 billion Scaleup Fund, which opened to UK and US startups last month, aims to address late-stage funding gaps, though its focus remains distinct from the SME-targeted Cascade programme.

Keve’s outreach arrives as Cypriot startups face limited local venture capital. The Chamber’s role in spotlighting EU opportunities may reflect broader efforts to bridge funding disparities in smaller markets.

Sources: cyprus-mail.com