Following a decision by Deputy Minister of National Economy and Finance, Nikos Papathanasis, and upon completion of the electronic submission of funding applications through the Integrated State Aid Information System for the “Start Entrepreneurially” initiative, the program’s call for applications has been amended to allow for an overcommitment of available resources by up to 30%.
2,815 funding applications submitted
The “Start Entrepreneurially” initiative was launched with a total budget of €70,000,000, of which €55,000,000 was allocated to Less Developed Regions (North Aegean, Eastern Macedonia–Thrace, Central Macedonia, Epirus, Thessaly, Western Greece, Crete, Western Macedonia, Ionian Islands, Central Greece, Peloponnese) and €15,000,000 to Transition Regions (Attica and South Aegean). A total of 2,815 funding applications were submitted under the program, representing a combined public expenditure of €62,273,364.
Specifically:
– In the Less Developed Regions category (North Aegean, Eastern Macedonia–Thrace, Central Macedonia, Epirus, Thessaly, Western Greece, Crete, Western Macedonia, Ionian Islands, Central Greece, Peloponnese), 1,976 funding applications were submitted, with a total public expenditure of €43,100,200.
– In the Transition Regions category (Attica, South Aegean), 839 applications were submitted, with a total public expenditure of €19,173,164.
Given that the public expenditure allocated to the Transition Regions was insufficient to cover the requested funding, the signed decision now empowers the Special Management Authority of the “Competitiveness” Programme to approve funding applications with a public expenditure of up to 30% above the original call budget, in order to meet the budgetary requirements of all eligible applications submitted from Transition Regions.
Activating human capital remains a top priority
It is noted that a core priority of the initiative is the activation of human capital through the promotion of self-employment and the development of new entrepreneurial ventures that contribute to job creation. Eligible beneficiaries were skilled and qualified young people with entrepreneurial ability and a desire to operate in sustainable and modern sectors (e.g. Information and Communication Technologies, Science, Technology, Engineering and Mathematics, Tourism, etc.). Particular emphasis was placed on business activities that create new, sustainable jobs.
The grant period may cover a continuous verified operational period of 12 or 18 months from the date of business commencement (i.e. a minimum of two milestones/six-month periods of verified operation from the registration date with the Independent Authority for Public Revenue).
The initiative is co-financed by the European Social Fund+ of the European Union under the ESPA “Competitiveness 2021–2027” Programme.
