The Action includes innovative interventions for the reorganization of the productive and/or administrative functions of the enterprises of the Region, such as modification of the production process (production lines, reorganization of the sales system, etc.). Innovation can have significant benefits for businesses such as reducing costs, increasing sales, and strengthening the company's position in the market. 

This action does not relate to the development of technological innovation, but rather promotes:

  • Organizational innovation, that is, the application of new organizational methods in the business practices of the company, including knowledge management (e.g. supply chain management, business reorganization, etc.), organization of the workplace (e.g. use for the first time of a new system for the allocation of employees’ responsibilities, education and training systems, etc.) or the external relations of the company, which has not been used in the past (e.g. application for the first time of partnerships, company relationships, outsourcing or subcontracting, etc.).
    This innovation should be the result of strategic decisions of the company's management.
    Mergers or acquisitions are excluded, even if they are implemented for the first time.
  • Process innovation, i.e. when a company develops a method to create its product or service. Often, process innovation leads to faster production, greater efficiency and less waste of time and resources, which can be more evident in manufacturing industries. In any case, companies that provide a service can also innovate in their processes.

Τhe Action in detail

Under the program, the total available public expenditure is €7.000.000,00. 

Each investment plan may receive a grant under the program from €60,000 up to €400,000.

The subsidized budget cannot 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 (2022-2023).

 

Existing SMEs of a corporate/commercial nature of the North Aegean Region:

  • Société Anonyme
  • Limited Liability Company
  • General or Limited Partnership
  • Private Capital Company
  • Sole proprietorships
  • Social cooperative enterprises under L. 4430/2016 as applicable
  • Pleasure Craft Marine Company
  • Agricultural cooperatives

Existing companies are defined as businesses that have at least two (2) complete, closed business years 2022-2023 prior to the date of online submission of the financing application.

Complete, closed business years are fiscal years for which the final financial results have been determined in accounting terms and the appropriate tax forms (e.g. forms E3 & N) have been submitted to the tax authorities (AADE), and which each present a duration of 12 months. 

 

I. The business must have been active or intend to be active in the Greek territory and carry out the investment exclusively in the North Aegean Region.

II. The proposed investment plan must relate to at least one of the eligible Business Activity Codes (KAD) included in ANNEX XI.

III. The business must have at least 1 Annual Work Unit (AWU) in the year preceding the year of submission.

IV. The subsidized budget of the investment plan must not be higher than three times the highest turnover achieved in one of the two business years prior to the date of submission of the funding application and must be greater than the threshold of the call. 

V. The business must present evidence that Private Participation in the proposed investment plan has been secured at a rate of least 30% of the total budget. 

VI. The company must not have completed the physical object of the investment or fully implemented it, before submitting the funding application. 

The program finances the following expenses:

  • Staff costs (Full salary cost of newly hired staff (up to €17,000 - 1 AWU)
  • Expenses for equipment, means of transport (e.g. equipment for environmental protection and energy saving, electric means of transport)
  • Expenses for Buildings, Land, Facilities & Surrounding Area 
  • Expenses for the provision of services (e.g. costs of consultancy, label design, etc.)
  • Software costs
  • Indirect expenses
 

The implementation of the investment plan is covered by public expenditure and private participation. Public expenditure for all investment plans amounts to 70% of the subsidized budget, while the remaining amount is covered by private participation.

To cover the private participation, the potential beneficiary may use its own resources and/or a loan. 

 

What we do for you

Contact your Business Banking Relationship Manager  today and learn about our financing products and the tools we offer for the implementation of your business growth plans.

IN THE APPLICATION PHASE OF THE PROGRAM 

  •  Before final submission of the application to the OPSKE system, we explore the option to finance your business's own participation (contract or loan approval or pre-approval). 

IN THE IMPLEMENTATION PHASE OF THE INVESTMENT BY MEANS OF THE PROGRAM

  •  Once the inclusion decision has been signed, it is possible to issue an Advance Payment L/G for up to 40% of the public funding. The L/G is issued in favour of EFEPAE with a validity period of indefinite duration.
  • Bridge Financing
  • Support in finding the appropriate financial tool to cover private participation, depending on the needs of your business.
 

 

 

 

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Manage the daily transactions and banking needs of your business easily and quickly, wherever you are.

View all of your business’s products, make transfers and remittances, pay bills, personalize your home screen according to your needs and manage all approvals, online, from your mobile.


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