The funded budget for each investment plan submitted may range from €80,000 to €400,000. If the submitted investment plan has a budget of less than €80,000, it will be deemed ineligible from the outset and cannot be submitted.

In the event that the investment plan has a budget exceeding the specified upper limit, the surplus amount will be considered as a 100% private contribution for the plan's implementation. In this case, although the excess expenses are not funded, the entire investment plan, including the surplus cost, is subject to evaluation and monitoring for assessment and control purposes.

Newly established and newly formed Very Small, Small, and Medium-sized Enterprises (SMEs) operating or planning to operate in the Tourism sector are eligible beneficiaries.

The category of Very Small, Small, and Medium-sized Enterprises (SMEs) consists of businesses employing fewer than 250 employees, with an annual turnover not exceeding €50 million and/or a total annual balance sheet not exceeding €43 million.

Newly established: Enterprises that will be formed from the date of the announcement of the action until the first disbursement of the grant.

Newly formed: Enterprises for which a continuous 12-month operation period has not elapsed (not exceeding 12 months from the commencement date of the business according to AADE until the date of the announcement of the Action).

Indicative expenses eligible for the action include all those related to the acquisition of:

• Buildings, land, other facilities, and environmental space.
• Machinery and equipment (productive and mechanical equipment, equipment for environmental protection and energy efficiency, circular economy equipment, office digital equipment, other business equipment).
• Transportation means (Transportation Vehicles - Mandatory electric vehicles).
• Software (Software and usage rights/licenses for software programs, website construction, e-shop, mobile applications as fixed assets).
• Software procurement/usage services under the "as a service" regime (Software installation services, software/application parameterization, user training, procurement/usage services for software under the "Software as a Service," "cloud computing," or similar schemes).
• Certification of Quality Assurance Systems and Environmental Management.
• Studies - Consulting Services (Technical studies necessarily linked to investment plan expenses, Expenses for consulting and equivalent supportive services used exclusively for the action, Expenses for submitting the funding application, Consulting support for monitoring the implementation of the investment plan, Expenses for consulting and supportive services in the field of innovation, Market studies/research).
• Promotion - Externalization - Internationalization Expenses (Promotion expenses on social/professional networking electronic media, SME participation expenses in trade fairs, Advertising listings in print and/or electronic format, Design and production of informational material, Logo design and corporate identity).
• Indirect Expenses.

The funding rate for financing applications is uniform for all eligible expenses of investment plans and amounts to 45% of the eligible budget.

The subsidy rate can be increased by:

a) 10% if the investment is made in a remote, fire-affected, earthquake-affected, flood-prone area, or small islands, and/or

b) an additional 5% by declaring, during the submission of the funding application, an employment target of at least 0.2 FTE (Full-Time Equivalent) in the first year after the completion of the investment.   

The subsidies under this Action constitute de minimis aid and will be allocated to businesses under the De Minimis Regulation as applicable.

It is emphasized that projects located in the Regional Unit of Mykonos and the Regional Unit of Thira, in the Municipality of Thira, except for the Municipal Community of Therasia, are exempted from this.

The application submission period started on December 18, 2023, and will end on February 29, 2024 (at 15:00).

The maximum duration for the completion of the physical and financial object cannot exceed twenty-four (24) months from the date of the Issuance Decision.

Funding requests are submitted through the Integrated Information System for the Management of State Aid (OPSKE).