Setting Up Businesses & Enhancing New Micro and Small Enterprises in the Municipality of Megalopolis

Under the program, the total available public expenditure / budget is €3,000,000.00. Each investment plan may receive a grant under the program from €20,000 up to €100,000.

Loan applications with a submitted budget of less than €20,000 are non-eligible and cannot be submitted.

In the event of investment plans with a budget over the maximum limits as set out above (€100,000) 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 entire investment project, including the excess cost, is subject to assessment and monitoring-control.

The maximum duration for completion of the investment project should not exceed twelve (12) months as of the date of issuance of the Decision on Approval of Results. 

New and under establishment micro and small enterprises of the Municipality of Megalopoli.

Under establishment: businesses that will file commencement of business operations with the competent Tax Office after the electronic submission of the funding application. 

Newly established: businesses that have already started operations and, as at the date of electronic submission of the funding application, have fewer than (2) complete closed business years (for which the appropriate tax forms have been submitted), i.e. they have started operations from 1January 2022 (01-01-2022) onward.

Terms and Conditions for the participation of Beneficiaries (indicatively):

1. Newly established businesses can submit one and only funding application per TIN.
2. The same investment owner (business / shareholder / partner / owner) cannot participate in more than one (1) investment plans that concern a business under establishment. 
3. They must be active in the Greek territory and carry out the investment exclusively in the geographical limits of the Municipality of Megalopoli in the Region of Peloponnese.
4. They must undertake to increase business employment during the implementation phase of the investment, which, if maintained for one year, will increase the Annual Work Units (AWU) by at least one (1) unit (compared to the employment of 2024 for a new business).
5. They must present evidence of Available Funds in relation to the Investment Plan at a rate of at least 30% of the Total Budget.
6. The funding application must include costs related to the sub-activities marked as costs that contribute to the Protection of the Environment and Energy Saving, at a rate of a minimum of 30%.
7. They must not have completed or fully implemented the physical object of the investment, before submitting the funding application.
8. The subsidized budget of the investment plan must not be lower than €20,000.
9. They must undertake to retain the increase they will declare, which will form the basis of the evaluation of the application, at least for one year after completion of the investment.
10. The funding application must obtain a minimum overall score of 65 in the criteria mentioned in ANNEX IV CRITERIA FOR THE EVALUATION OF APPLICATIONS. Note that it is not permissible to submit a funding application to the iSAMIS system, if the aforementioned condition is not met.
11. They must hold the status of Micro or Small Business and operate under one of the legal forms provided for in the Call.
12. They must be registered in the Beneficial Ownership Register of Article 20 Law 4557/2018 (A' 139), as in force. Note that newly established businesses must have been registered with the Beneficial Ownership Register of Article 20 of Law 4557/2018 (A' 139), as in force, prior to final submission of their funding request, while businesses under establishment prior to the first disbursement of state funding.

The overall participation conditions for beneficiaries are presented in detail in the Action guide and must be met in their entirety. Failure to meet at least one or more of such conditions is grounds for exclusion of the investment plan, constituting, therefore, a reason for non-submission and/or rejection of the funding application.

The program finances the following:

• Expenses for buildings, facilities and surrounding area
• Expenses for mechanical equipment and means of transport 
• Expenses for the provision of services
• Software costs
• Indirect expenses (7% on the other categories)

The rate of state funding amounts to 70% of the subsidized budget of the funding application, while the remaining 30% is private participation.

The private participation may be covered by own funds, bank loan, or combination of both.

The funding application (investment proposal) must be submitted electronically by potential Beneficiaries, only through the Integrated State Aid Management Information System (ISAMIS), to the Just Transition Special Authority (EYDAM), accompanied by all supporting documents of ANNEX III REQUIRED DOCUMENTATION FOR SUBMISSION / INCLUSION of the Call.

Funding applications should be submitted from 10/01/2025 to 18/03/2025 by 15:00 at the latest.

The aid under this Action constitutes a grant and will be made available to businesses under Regulation (EU) 2023/2831 of the European Commission of 13 December 2023 (OJ EL L 15/12/2023) in application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to de minimis aid.