Strengthening entrepreneurship in the priority areas of the South Aegean Region

The subsidized budget of each investment project ranges from €30,000 to €400,000.

The deadline for the completion of the financed investments cannot exceed twenty-four (24) months from the date of online notification of the final approval of the funding application (evaluation result or objection evaluation result).

The Call is addressed to existing, micro, small and medium-sized enterprises legally operating and active in the South Aegean Region in order to proceed with the development of new, or innovative, or improved products and services, of high added value, in order to increase competitiveness and improve the position of the Region's businesses in the domestic and international market. Each investment plan, in order to be eligible, must be documented as being linked to a Regional Endpoint of the priority sectors of the National Smart Specialisation Strategy (RIS3):

•  Experiential tourism (tourism, culture, creative industry)
• Agri-food
• Fisheries & Aquaculture
• Renewable Energy Sources (RES)

In addition, businesses must operate exclusively under one of the following business forms:

Société Anonyme, Limited Liability Company (Ltd.), General Partnership, Limited Partnership, Private Capital Company (I.K.E.), Sole Proprietorship, Social Cooperative Enterprise under Law 4430/2016 as in force (KOINSEP), Pleasure Craft Marine Company (NEPA), Agricultural Cooperative, Civil Cooperative Enterprise, Limited Liability Social Cooperative (KOI.S.P.E.). 

• Businesses must submit one and only funding application per TIN. 
• They should be active or due to be active in the Greek territory and make their investment exclusively within the South Aegean Region. 
• They must have at least two (2) complete business years prior to the date of online submission of the financing application.
• The business must have at least one (1) AWU under dependent employment in the year n-1 (2025).
• They must be substantially active in sectors of the RIS3 strategy, i.e. have, in the calendar year preceding the date of electronic submission of the funding application, a main KAD or a KAD with the highest revenues that is included in Annex XI: Eligible sectors of activity (KAD).
•  The operation (proposed investment) must concern (investment KAD) in at least one of the eligible KAD of Annex XI: Eligible sectors of activity (KAD). It is clarified that the company does not have the obligation to have the investment KAD when submitting the funding application but must have it before the first disbursement.
•  The subsidized budget of the investment plan must not be higher than three times the highest turnover achieved in one of the two complete, closed business years prior to the date of submission of the funding application (2024-2025) and must exceed the minimum threshold set in section 6.3. Budget & Duration of implementation of this Action.
• They must present evidence that Private Participation in the proposed investment plan has been secured at a rate of least 40% of the Total Budget, in accordance with Annex II:. SUBMISSION/INCLUSION DOCUMENTS. 
• Have the status of Micro or Small or Medium-sized Enterprise as defined in Commission Recommendation 2003/361/EC of 6 May 2003 and in accordance with Annex I of Regulation (EU) 651/2014 on the definition of micro, small and medium-sized enterprises, (ANNEX IV “Definition of SMEs & Model SME Declaration” hereto). 
• They must operate legally, possessing the appropriate licensing document in accordance with applicable legislation for the subsidized activity (e.g., operating license, Solemn Declaration of commencement of operation, exemption from operating license, notification of commencement of operation, etc.). In the event that the license has not been issued or has expired, the relevant application for its issuance/renewal is required. Businesses engaged in activities for which no operating license is required must submit a Solemn Declaration by the Legal Representative certifying that no operating license nor a document exempting them from the relevant obligation is required, with the relevant justification. 
• They must exclusively operate under one of the following forms of business: corporate/commercial enterprises, Société Anonyme, Limited Liability Company (Ltd.), General Partnership, Limited Partnership, Private Capital Company (I.K.E.), Sole Proprietorship, Social Cooperative Enterprise under Law 4430/2016 as in force (KOINSEP), Pleasure Craft Marine Company (NEPA), Agricultural Cooperative, Civil Cooperative Enterprise, Limited Liability Social Cooperative (KOI.S.P.E.). 
• It must maintain single or double-entry account books under Law 4308/2014, as in force. 13. They must be registered in the Beneficial Ownership Register of Article 20 Law 4557/2018 (A 139), as in force.
• The creditors of the company must not be under bankruptcy, liquidation or compulsory administration or should not have filed an application for resolution 23/316 
• Applicant businesses must meet all the conditions for the application of Regulation (EU) 2831/2023 (De Minimis) (OJ EL L 15.12.2023) on which the Action is based. More specifically, the total amount of de minimis aid granted per Member State to a single undertaking does not exceed the amount of €300,000 over the last three years (calculated over three years on a rolling calendar basis). De minimis aid is deemed to be granted at the time of granting the relevant undertaking the legal right to receive the aid in accordance with the applicable national legal regime, regardless of the date of payment of the de minimis aid to the undertaking. In the event that the ceiling is exceeded with the granting of the new De Minimis aid, this new aid may fall under the benefit of the regulation in its entirety.
• They must not have completed or fully implemented the physical object of the investment before submitting the funding application.
•  Businesses must undertake that the expenditure included in the funding application has not been financed, and is not included for funding under any other program financed by national or EU funds. 
• They must undertake that the expenditure included in the funding application, if approved, shall not be submitted under any other program financed by national or EU funds.
• The place of implementation of the investment must not be the residence of the beneficiary (primary or secondary). 
• 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 par. 1 of Greek law 4488/2017 (A137/13.09.2017). 
• They must undertake that, during the implementation of the investment plan, they will defend gender equality and prevent any discrimination on the grounds of gender, racial or ethnic origin, religion or beliefs, disability, age, or sexual orientation.
• They must undertake that, until the completion of the investment and depending on the type and nature of the proposed Action, they will ensure appropriate interventions so as to guarantee access for persons with disabilities (PwD) to building infrastructure, services, and electronic environments, in accordance with the applicable regulatory framework (see Annex X: “Ensuring accessibility for persons with disabilities”).
• They must undertake that the proposed action does not violate and is not incompatible with any of the provisions referenced in the Charter of Fundamental Rights of the European Union, as detailed in the “Table for compliance of actions with the Charter of Fundamental Rights of the European Union” (Annex X). 
• They must submit an electronic funding application, accompanied by all the necessary information and supporting documents, in accordance with the provisions set out in Section 8 “Funding Application Submission Procedure" of this action. 

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
• Promotion, Marketing & Networking Expenses 
• Indirect expenses (7% of the eligible direct expenses of the investment project)

Note:

• The start date for eligibility of expenditure is defined as the date of publication of the Action’s Call for Applications. Expenditure incurred before the start of eligibility of expenditure (even if the contract has not been invoiced) is not eligible.
• The deadline for the eligibility of expenditure is defined as the deadline for the completion of the operation, i.e. twenty-four (24) months from the date of notification of the approval decision of the funding application. In case the deadline expires on a non-working day, it is extended until the first working day.

Public Expenditure for all investment plans amounts to 60% of the subsidized budget, while the remaining amount is covered by private participation.