Nikos Papathanasis, during an event held at the Athens Chamber of Commerce and Industry (ACCI) on the theme “State Aid with a Focus on SMEs and New STEP – Defense Priorities,” announced three new business funding programs with a combined budget of €220 million. The Deputy Minister of National Economy and Finance emphasized that “ESPA funds don’t stay on paper. They reach businesses in every corner of the country, with the goal of supporting where real value is actually created.”
Funds reaching every corner of the country, where value is created
Papathanasis also noted that through the “Competitiveness” and “Human Resources & Social Cohesion” programs under ESPA 2021-2027, investment plans and loans with a total public expenditure exceeding €3 billion have already been approved. He further underlined that Greece is actively participating in European Union initiatives to strengthen strategic technologies and defense through the Strategic Technologies for Europe Platform (STEP).
The three new funding initiatives
The new initiatives announced by the Deputy Minister are as follows:
– Support for small and medium-sized enterprises (SMEs) in the sectors of strategic technologies and defense, with a total budget of €80 million. The program will be implemented through two separate calls: one for existing businesses with a 50% funding rate, and one for new or start-up businesses with funding of up to 67%.
– Support for medium and large enterprises with a budget of €120 million, targeting initial investments that generate new economic activity outside the Attica region.
– An in-company training program called “STEP UP,” with a budget of €20 million.
Key priorities across the three initiatives
The event, organized by the General Secretariat for the Management of Sectoral Programs of the European Regional Development Fund, Cohesion Fund, and European Social Fund+ of the Ministry of National Economy, focused on the new priorities of the “Competitiveness” and “Human Resources & Social Cohesion” programs, as well as STEP-Defence interventions for the 2021-2027 period.
The initiatives place particular emphasis on investment and skills upgrading in strategic technologies, including artificial intelligence, robotics, drones, digital applications, and dual-use technologies. Dedicated financial instruments are also envisaged for SMEs and companies operating in the defense sector.
More than €3 billion in state aid
The presentation featured a dedicated overview of the state aid footprint. Through the “Competitiveness” program, nine sub-actions are currently being implemented, with 18,224 approved projects. The “Human Resources and Social Cohesion – Entrepreneurship 2021-2027” program has approved 8,305 projects. In addition, the TEPIX III financial instrument has disbursed 11,499 loans totaling €2.91 billion. Overall, public expenditure on state aid and financial instruments exceeds €3 billion, with significant geographic distribution across all regions of the country.
Financing investments in strategic technologies
Vassilis Siadimas, Secretary General for the Management of Sectoral Programs of the ERDF, CF, and ESF+, stated that the STEP and STEP-Defence interventions constitute a targeted state aid framework for the 2021-2027 period, focusing both on investment financing and on skills development in strategic technologies such as artificial intelligence, microelectronics, cybersecurity, drones, and robotics. He noted that the goal is to create “a coherent set of tools that allows Greek businesses, particularly SMEs, to participate more actively in defense, security, and dual-use technology projects.”
Representatives from the ACCI, the General Secretariat for ESPA, the Public Investment Program, DYPA, EFEPAE, the Hellenic Development Bank, and the General Secretariat for Research and Innovation also addressed the event. A thematic panel followed, focusing on funding opportunities in the fields of strategic technologies, defense, and security, highlighting new opportunities for both small and large enterprises, as well as the growing importance of dual-use technologies for the Greek economy.
