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. 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. 

Newly established or under establishment 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 can submit one and only funding application per TIN (newly established businesses).
• The potential beneficiaries must:
  • have not filed the commencement of business operations with the competent Tax Office prior to the funding application (under establishment business);
  • have commenced operations at the competent Tax Office as from 1/1/2023 onwards (newly established business). 

• The same investment vehicle (partner/shareholder/business) cannot participate in more than one (1) investment plan involving a business under establishment.
• The proposed investment plan must concern at least one of the eligible business activity codes (KAD) of the Call, in which activity the beneficiaries must have been active no later than the submission of the first request for payment of the grant (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 in accordance with the law by having the appropriate licensing documentation, as per the applicable legislation.
• They must submit a land use certificate for the declared location(s) of the investment, which will evidence that it is possible to set up the investment activity.
• 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: 
  • have not been funded under any other action funded by national or EU funds.
  • do 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.

• For newly established businesses: 
  • They must not have completed or fully implemented the physical object of the investment before submitting the funding application. 
  • 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.
  • They must not be under bankruptcy, liquidation or compulsory administration, or the creditors of the company must not have filed an application for resolution. 
  • They must not be subject to an order for the clawback of aid, following a prior decision of the European Commission or the Court of Justice of the European Union, declaring aid unlawful and incompatible with the internal market. 
  • They must comply with the legislation on occupational health and safety and prevention of occupational hazards. 
  • They must undertake that there are no grounds for exclusion under article 39, par. 1-4 and article 40 of Law 4488/2017 (A137/13.09.2017). 
  • 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 not have received rescue or restructuring aid, or they have received rescue aid but have repaid the loan and terminated the guarantee agreement, or they have received restructuring aid which has been completed.
• The place of implementation of the investment must not be the residence of the beneficiary (primary or secondary).
  Note that:
• During the implementation of the transaction and until its completion, at least 51% of the initially approved shareholding/corporate composition of the investment entity (ownership status) must remain unchanged, i.e. the shares/corporate shares transferred may not exceed 49% in relation to the initially approved (upon assessment) corporate/shareholding composition of the investment entity.
• 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 applications 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.