Support of investment plans of existing SMEs implemented in the Municipality of Megalopolis

Under the program, the total available public expenditure/budget amounts to €10,000,000.00. 

Each investment plan may have a subsidized budget ranging from €500,000 up to €12,000,000.

Funding applications with a submitted budget of less than €500,000 are non-eligible and cannot be submitted.

In the event of investment plans with a budget over the maximum limits as set out above (€12,000,000), 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 thirty (30) months as of the date of issuance of the Decision on Approval of Results. 

Beneficiaries are existing micro, small, and medium-sized enterprises, as such are defined in Annex I of Regulation (EU) 651/2014, which will implement an investment plan within the Municipality of Megalopolis under the Territorial Just Transition Plan of Megalopolis, related to at least one of the eligible activity codes (KAD) (included in Annex XVII of the Call).

Existing businesses are those that have already started operation and, before the date of issue of the Call, had at least one (1) complete closed financial year, i.e. they have filed commencement of business operations with the competent Tax Office before 1/1/2023.

Conditions for the participation of beneficiaries (indicatively):

1. They must submit one and only funding application per TIN.
2. They must be currently active or intend to be active in the Greek territory and carry out the investment exclusively in the Municipality of Megalopolis under the Territorial Just Transition Plan of Megalopolis.
3. On the date of issue of the Call, they must have at least one (1) complete closed financial year.  
4. They must be registered in the Beneficial Ownership Register of Article 20 Law 4557/2018 (A' 139), as in force.
5. The proposed investment plan must relate to at least one or more of the eligible Business Activity Codes (KAD) included in ANNEX VVII of the Call.
6. The funding application must be submitted prior to the commencement of the investment’s works.
7. The proposed investment plan must be an initial investment, as per Article 2.49 of Regulation (EU) No 651/2014. Note that a replacement investment in not considered to be initial. 
8. They must undertake to create, until the completion of the investment is certified, a minimum number of new work units (AWU), which will be additional to those in place in the last 12 months prior to the submission of the application, and to maintain them for at least 3 years after the final disbursement of the investment.
9. The financial participation of the aid beneficiary must stand at minimum 25% of the total eligible costs through its own funds or external financing and in a form which does not contain state aid support measures.
10. The subsidized budget of the investment plan must not be lower than €500,000.
11. Hold the status of Micro or Small Business and operate in one of the legal forms as provided in the Call.
12. Not be considered “an undertaking in difficulty” as per Article 2.18 under the title “Terms” of Regulation (EU) 651/2014, neither an off-shore business.
13. The overall score of the funding application has to be equal or hither than 65 points.

The overall assumptions for participation of beneficiaries are presented in detail in the Action guide and must be met in their entirety. The unsuccessful satisfaction of at least one or more of them is a condition for the exclusion of the investment plan and therefore a reason that constitutes an unsuccessful submission of the application and/or its rejection.

The program finances the following expenses:

• for buildings, facilities, and surrounding area
• for mechanical equipment and means of transport 
• provision of services
• software
• staff

For regional aid expenses the percentage of state funding ranges from 60% to 70%, while for expenses outside regional aid the percentage of state funding ranges from 50% to 75%. In any case the percentages vary depending on the type of expenses and on the size of the company.

The private participation may be covered by own funds, bank loan, or a 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 Managing Authority of the “Just Transition Development Program” (DA ESPA DAM), accompanied by all supporting documents of ANNEX I REQUIRED DOCUMENTATION FOR SUBMISSION / INCLUSION of the Call. 

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

The aid is granted under Commission Regulation (EU) 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market, in application of Articles 107 and 108 of the Treaty, as amended, and in particular Articles 14, 18,19, 33, and 41 respectively of Sections 1, 2, 6, and 7 of the Regulation.