The public expenditure for the Action amounts to €20,000,000.

The subsidized budget of each investment project can range from €50,000 to €425,000. Note that the amount of the subsidized budget of the investment plan cannot exceed the highest turnover of the business increased by 40% achieved in one of the two complete closed fiscal years preceding the date of the Call announcement (2023, 2024). If the submitted investment plan has a total subsidized budget of less than € 50,000, then it will be deemed ineligible from the outset and will not be able to be submitted. 

Note that if the Total Budget of the investment plan is over the Subsidized Budget, the excess amount will be considered as a 100% private participation for the implementation of the plan. In this case, although the excess cost is not subsidized, the investment plan in its entirety, including the excess cost, is subject to assessment and monitoring-control. 

Existing small, micro and medium enterprises, which are active in the Greek Territory, will implement an Investment Plan within the Region of Thessaly provided that 
they operate exclusively under one of the following forms of business:
Société Anonyme (S.A.), Limited Liability Company (Ltd.), Single-Member Limited Liability Company (M.E.P.E.), General Partnership (O.E.), Limited Partnership (E.E.), Limited Partnership (E.E.) by Shares, Private Capital Company (I.K.E.), Single Member Private Capital Company (M.I.K.E.), Sole Proprietorship, Social Cooperative Enterprise of Law 4430/2016 as in force (KOINSEP), Limited Liability Social Cooperative Enterprise (KOISPE), Civil Limited Liability Cooperative, Civil Cooperative of Unlimited Liability, Civil Cooperative Profit, Civil Profit-Making Company, Agricultural Cooperative.

• They must be incorporated prior to 01/01/2023 (commencement of business activity with AADE-tax authority).
• They must have at least two (2) complete closed financial years behind them, with the appropriate tax forms (forms E3 & N) for the years 2023 & 2024 submitted to and processed by the tax authorities (AADE) as at the date of online submission.
• They can submit one and only funding application per TIN
• They must have at least one (1) eligible business activity code (KAD) during the last closed financial year preceding the date of publication of the Call (2024).
• The proposed investment plan should concern at least one of the eligible business activity codes (KAD), in which activity the beneficiary has been active or undertakes to be active through to submission of the first subsidy request (including the advance payment).
• They must submit proof of availability of funds, which should evidence that it is possible to cover at least 25% of the total costs of the investment plan.
• They must meet all the conditions for the application of Regulation (EU) 2831/2023 (OJ L 15.12.2023) (De Minimis) on which the present Action is based.
• They must maintain single or double-entry account books under Law 4308/2014, as in force.
• They must operate legally in their substantially declared activity (i.e. in the main one and in the one with the highest income) as well as in at least one of the activities they have during the last closed financial year preceding the date of publication of the Call (2024) by having the appropriate licensing document, in accordance with the applicable legislation.
• If the investment plan includes costs for the construction/extension of a building, they must submit proof of availability of the place where the investment is to be installed.
• They must undertake that the entire investment plan and the individual costs included in the specific financing application:
  • They must not have been funded under any other action funded by national or EU funds.
  • The costs must not constitute approved investment project expenditure in another action financed by national or Union funds.
  • If approval is carried out also for the period that they constitute approved expenditure under the investment plan to be implemented, such expenditure will not be submitted for inclusion or certification in an investment plan of another action financed by national or Union funds.

• They must not have completed or fully implemented the physical object of the investment before submitting the funding application.
• If they are active in the fisheries and aquaculture sector, they should not have committed one or more of the infringements referred to in Article 10(1)(a) to (d) and Article 10(3) of Regulation (EU) No 508/2014 of the European Parliament and of the Council.
• They must be registered in the Register of Beneficial Owners of Article 20 of Law 4557/2018 (A 139), as in force, if there is a relevant obligation. 
• The place of implementation of the investment must not be the residence of the beneficiary (primary or secondary).
• They must not be under bankruptcy, liquidation or compulsory administration, or the creditors of the company must not have filed an application for resolution.

Note that the same evidence of funds availability (e.g. certificate evidencing average balance, from the same account for the same amount and for the same month), which will document that it is possible to cover at least 25% of the total costs of the investment plan, as well as the documentation of the relevant assessment criterion to be scored, should not be used for the same amount in more than one funding application within the framework of the entrepreneurship actions of the Region of Thessaly.
The overall participation conditions of beneficiaries are presented in detail in the Action guide.

The main expenses covered by the Program relate to:

• Personnel costs
• Costs of Equipment, Means of Transport & Instruments
• Expenditure on Buildings, Land Plots, Facilities & Surrounding Areas
• Expenses for the Provision of Services
• Software Costs
• Indirect Expenditure

The eligible costs are detailed in the Call File.

The percentage of public funding (aid intensity) can reach up to 70% of the subsidized budget, while the remaining amount is covered by private participation.