The first (1st) Decision of Inclusion of Beneficiary Enterprises in the framework of the EPANEK Action " Support for Start-up Enterprises of the National Registry Elevate Greece for the response to the Covid-19 pandemic (B Cycle)" has been published, regarding the inclusion of seventy-eight (78) beneficiaries, with a total public expenditure of 3.730.225,13 euros.

The beneficiaries of the projects, which are included in this Decision, have the possibility to submit an electronic objection once (through the PSKE in the field "OBJECTIONS"), within an exclusive deadline of seven (7) working days, from the day following the publication of the results of the Decision.

Objective of the Action Elevate Greece

The Action aims to strengthening the entrepreneurship and liquidity of start-ups/innovative SMEs operating in the Smart Specialisation/RIS3 sectors of the National Register of Start-ups Elevate Greece. The second cycle of the Action comes to support these enterprises (in the affected NACE codes) non-repayable aid (working capital), so that they remain sustainable and not lose work posistions, taking into account the adverse circumstances of the COVID-19 crisis and the prolonged outbreak of the disease.

Budget of the Action

34 million euros for all regions of the country.

React EU - Action funded as part of the Union's response to the COVID-19 pandemic

Beneficiaries of the Action Elevate Greece

Smart innovative SMEs which are registered in the National Register of Start-ups/Elevate Greece (elevategreece.gov.gr).

Grant

The public funding covers working capital up to 80% of the company's expenses for the reference year (2020 or 2021) with a minimum grant amount of 5,000 euros and a maximum of 100,000 euros.

Beneficiaries select the year in which they incurred the highest Working Capital costs, namely 2020 or 2021, on which the requested grant amount will be calculated.

The subsidy of the beneficiary enterprises with expenses equal to or greater than the amount of 125,000 euros amounts to 100,000 euros. Businesses shall not be subsidised if the result of the audit demonstrates a sum of costs of less than EUR 6 250.

The amounts on which the exact grant amount will be calculated are derived from the sum of:

• Commodity Markets (code 102)
• the Purchases of Raw Materials and Materials for Use (code 202)
• the total of Employee Benefits (excluding those employed in Agro-organic activities) (codes 181, 281, 481)
• miscellaneous operating expenses (codes 185, 285, 485)

The registered businesses that were funded by the A.P. 1729/262/A2/ 16.03.2021 (SAA: Ω88346MTLR-ΩΧ) Decision, as amended and in force, may be cumulatively supported by both Calls with Maximum total amount of EUR 100.000. A single enterprise may not be supported under both calls for proposals for the same reference year, i.e. 2020.

Basic Conditions for Participation

Businesses should, inter alia, meet the following conditions:

• be registered in the National Register of Young Entrepreneurs / E.M.N.E. Elevate Greece
• the company's activity is compatible with an area of the national smart specialisation strategy RIS3
• be very small, small or medium-sized enterprises;
• have started by 31.12.2021,
• be active in one of the eligible NACE codes, in accordance with Annex I of the Detailed Call "ELIGIBLE ACTIVITIES (NACE)", the NACE code is declared either as a main activity or as an activity with the highest revenues,
• operate exclusively with one of the following types of enterprises of corporate / commercial character: PC, LTD, SA, based in the Greek Territory or capital companies based abroad, which maintain a branch in Greece, provided that it has a Greek VAT number and is registered in the General Commercial Registry,
• operate within the Greek territory, i.e. have a Greek VAT number or a certificate from the General Commercial Registry,
• the sum of the costs arising from the following categories of costs is equal to or greater than EUR 6,250.00: 1a. of Commodity Markets, 1b. of the Markets for AA Materials and Materials for Use, 1c. of the total of Employee Benefits (except those employed in Agro-organic activities), 1d. the total of the Miscellaneous Operating Expenses,
• to keep simple or double-entry books in accordance with Law 4308/2014,
• have submitted an income tax and VAT return (if they are subject to VAT) for the reference year 2020 on time, in accordance with the tax legislation or a Declaration of Responsibility for those businesses that choose 2021 as the reference year, in accordance with ANNEX IV. If an E3 amendment return has been submitted after the deadline for submitting an income tax return, both must be submitted in order to verify that the amounts in the above-mentioned fields of the last timely return have actually been spent.
• In case of a working capital grant in the context of all non-repayable support actions for businesses affected by the COVID-19 pandemic of the NSRF 2014-2020, the total amount of grants from this Action and the other above Actions must not exceed the sum of the amounts indicated in the E3 Codes for the reference year, on the basis of which the grant of this Call is calculated.

Beneficiary of the Action of Elevate Greece

General Secretariat for Research and Innovation

Closing date for online submission: 31 October 2022 at 15.00

Online Submission

The application for funding is submitted electronically to the State Aid Information System (PASKE) provided by the Ministry of Development and Investment, at the following address: www.ependyseis.gr, with the indication: Support to National Registry Start-ups Elevate Greece, for the response to the pandemic COVID-19 - Cycle B.

The evaluation of the submitted funding applications will be done on a first in-first out basis, according to the date and time of their electronic submission to the PSKE and the number of codes they received, the total Public Funding (P.C.) of the call, (34,000,000 euros) and the funding ceiling of EUR 100,000.00, given the adequacy of the budget.

Please note that there will be no scoring of applications, only verification of compliance with the eligibility requirements. In case the available budget is exhausted, the GGEI will inform the potential beneficiaries through the relevant website: www.gsri.gov.gr and the website of the EIF EAFENEK: www.antagonistikotita.gr.

See more detailed information about the Action here.