Empowering SMEs: Understanding the Cybersecurity Grant Scheme

In today’s digital landscape, cybersecurity has become a critical concern for businesses of all sizes. Small and Medium-sized Enterprises (SMEs) are particularly vulnerable to cyber threats due to limited resources and expertise. Recognizing this challenge, governments and organizations worldwide are implementing initiatives to support SMEs in enhancing their cybersecurity posture.

One such initiative is the SMEs Cybersecurity Grant Scheme, aimed at facilitating the adoption of cybersecurity solutions among SMEs. Let’s delve into the details of this scheme to understand its scope, financials, investment areas, examples of cybersecurity solutions covered, and evaluation criteria.

The primary objective of the SMEs Cybersecurity Grant Scheme is to assist SMEs in embracing cybersecurity solutions. By providing financial support, the scheme aims to empower SMEs to mitigate cyber risks effectively.

• The scheme boasts a total budget of €2,000,000, with €1 million funded by the European Union under the Digital Europe Programme and €1 million sourced from National funds.
• An aid intensity of 80% ensures that eligible SMEs can receive substantial financial assistance, with the maximum permissible grant capped at €60,000.
• Projects considered under the scheme must have a total value of €20,000 and above.
• Funds are disbursed in two phases: a pre-financing aid of 20% upon Grant Agreement Signature and the remaining 80% upon Completion of Project.

Funds are disbursed in two phases: a pre-financing aid of 20% upon Grant Agreement Signature, followed by the remaining 80% reimbursed upon completion of the project.

The scheme covers a range of investment areas crucial for bolstering cybersecurity defenses:

• Vulnerability Management
• Threat Detection and Response
• Enhanced Cloud-Based Platform Security
• End-to-End Data Protection
• Identity and Access Management

Several cybersecurity solutions are eligible for funding under the scheme, including:

• Data Loss Prevention (DLP) solutions
• Identity and Access Management (IAM) solutions
• Endpoint/Network Detection and Response (EDR/NDR) solutions
• Vulnerability Management solutions
• Next-Generation Anti-Malware solutions
• Privileged Access Management (PAM) solutions
• Full-Disk Encryption (FDE) solutions
• Multi-Factor Authentication solutions
• Extended/Managed Detection and Response (XDR/MDR) solutions
• Intrusion Detection and Prevention (IDS/IPS) solutions
• Threat Intelligence solutions
• Security Information and Incident Management (SIEM) solutions

Projects are evaluated by a Project Selection Committee based on predefined gateway and selection criteria. The gateway criteria ensure the completeness and eligibility of the application, while the selection criteria focus on project excellence, impact, sustainability, and risk assessment.

The SMEs Cybersecurity Grant Scheme represents a significant opportunity for SMEs to fortify their cybersecurity defenses and safeguard their digital assets. By leveraging financial assistance and investing in innovative cybersecurity solutions, SMEs can enhance their resilience against evolving cyber threats.

Stay tuned for updates on the scheme’s outcomes and how it empowers SMEs to thrive in the digital age.

For further information and application guidance, interested SMEs are encouraged to reach out to the National Cybersecurity Coordination Centre (NCC-MT) or the relevant authorities overseeing the implementation of the scheme.