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General Overview & Purpose of the Project

Economic I nterdependence Agreement No. 63365-09-002 Bi-communal Business Partnership Grant Programme. Purpose: To promote awareness on the benefits of economic integration and the importance of economic interdependence between the GC and the TC community Overview: Reports on:

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General Overview & Purpose of the Project

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  1. Economic InterdependenceAgreement No. 63365-09-002Bi-communal Business Partnership Grant Programme

  2. Purpose: To promote awareness on the benefits of economic integration and the importance of economic interdependence between the GC and the TC community Overview: Reports on: A. Assessment of current economic interdependence between the two communities and recommendations for reinforced economic convergence; B. Framework for a Joint development strategy Joint Initiatives such as Events, Grant programmes and Directories Public Awareness Campaign General Overview & Purpose of the Project

  3. Bi-communal Business Partnership Grant Programme • Purpose: To bring business people from the G/C and the T/C communities together enabling them to set up a bi-communal joint business partnership • Total Available Funds are €192.000 • Max Grant contribution per application is €38.400 (excluding VAT) • Only one application per partnership is permitted • The actual Grant depends on eligible costs • If the eligible costs are less than €38.400 then the lesser amount will be paid • Applicants are free to contribute matching funds if their costs exceed max. grant.

  4. Bi-communal Business Partnership Grant Programme • Who can apply: • G/C and T/C individuals, enterprises, professional associations or other bodies permanent residents of Cyprus interested in setting up a bi-communal joint business partnership active in any sector of the economy (services, manufacturing, trade) • Must be able to communicate in English and by e-mail • Young and Women entrepreneurship is strongly encouraged

  5. Bi-communal Business Partnership Grant Programme • Other relevant information: • The bi-communal joint business partnership is not necessary to be bound by any legal structure; a Memorandum of Understanding (MoU) will be signed between the “Economic Interdependence” implementing partners and the parties involved in the partnership; • The bi-communal joint business partnership can be located/set-up in any part of the island, as long as the original owner of the property in the GC community is GC and the original owner of the property in the TC community is TC

  6. Bi-communal Business Partnership Grant Programme • Selection Criteria • At least one G/C and one T/C individual/enterprise/organisation • Either party must have at least 30% of share ownership • Priority given to ideas that demonstrate sustainability • Priority given to initiatives set up in the Buffer Zone • Priority given to initiatives involving joint manufacturing • Priority given to innovative and unique ideas • Full respect to Human Rights including Gender equality must be paid • Ideas that contribute to sustainable development and CSR are encouraged

  7. EVALUATION CRITERIA TABLE CRITERIA A: PARTNERSHIP ESTABLISHED (10%) Project Team (CVs) (5%) Young/ Women Entrepreneurship (5%) CRITERIA B: BUSINESS IDEA (70%) Clarity of proposal (20%) Sustainability (20%) Innovative Idea and Uniqueness (15%) Added Value (10%) Revitalisation of UN Buffer Zone (5%) CRITERIA C: FINANCIAL (20%) Own Contribution (5%) Clarity of Expenses and Justifications (15%) Bi-communal Business Partnership Grant Programme

  8. ELIGIBLE COSTS Equipment & Machinery Computers & Software Furniture, Fixtures and Fittings Set Up Costs (Accounting, Legal, Consultancy) Others (e.g. Commercial Vehicles) NON ELIGIBLE COSTS Land and Building purchase Rent and Salaries Utility Costs Administrative Expenses Other running expenses VAT Bi-communal Business Partnership Grant Programme

  9. Bi-communal Business Partnership Grant Programme • Reimbursement of costs: • Reimbursement of actual costs will be effected after the submission of the necessary documentation (copies of invoices and receipts) with a cut-off date set as 30 June 2011. Any documentation received after the cut-off date will be considered ineligible; • Any costs realised before the signature of the MoU will be considered ineligible;

  10. Bi-communal Business Partnership Grant Programme TIMELINE • DEADLINE FOR SUBMISSION OF APPLICATIONS 30 NOVEMBER 2010 • DEADLINE FOR EVALUATION OF APPLICATIONS 31 DECEMBER 2010 • FIXED DEADLINE FOR REIMBURESEMENT OF COSTS 30 JUNE 2011 Submission Methods: • Email, Fax, Post or in person • Cyprus Chamber of Commerce and Industry Or • Turkish Cypriot Chamber or Commerce

  11. Thank you!

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