Fifth amendment of the Decision to Join the Action Support for Start-ups of the National Register of Elevate Greece

The fifth (5th) amendment of the Decision on the inclusion of Beneficiary Enterprises under the Action of the National Register "Elevate Greece", Supporting Start-up Enterprises of the National Register to tackle the Covid-19 pandemic, has been published, regarding the inclusion of five (5) additional beneficiaries. The total public expenditure amounts to EUR 426.067,10.

The fifth (5th) Decision of Rejection of Funding Applications within the framework of the Action of EPANEK, Support for National Registry Start-ups "Elevate Greece" to address the Covid-19 pandemic, has been published, regarding the final rejection of twenty-four (24) additional applications, with a total requested public expenditure of 1.767.321,42 euros.

Fifth decision rejecting applications to the Action Support for Start-ups of the National Elevate Greece Registry

The fifth (5th) Decision of Rejection of Funding Applications within the framework of the EPANEK Action " Elevate Greece", Support for National Registry Start-ups to tackle the Covid-19 pandemic, has been published, regarding the final rejection of twenty-four (24) additional applications. The total requested public expenditure amounts to EUR 1,767,321.42.

The Action aims to enhance the entrepreneurship and liquidity of start-ups / innovative small and medium-sized enterprises (active in sectors of Smart Specialization / RIS3) of the National Register of Start-ups "Elevate Greece", under the adverse conditions of the COVID-19 crisis, which worsened due to the prolonged outbreak of the disease in the affected SMRs. The aid will take the form of a grant (working capital) to keep businesses viable and not to lose jobs.

Budget of the Action

60 million euros for all regions of the country.

The Action is co-financed by the European Regional Development Fund (ERDF) of the European Union and by national resources.

Beneficiaries of the Action of Elevate Greece

Innovative start-up SMEs that are registered in the National Register of Start-ups/Elevate Greece: www.elevategreece.gov.gr.

Grant

Public funding covers working capital up to 80% of the company's expenses for the reference year (2019 or 2020). The minimum grant amount is €5,000 and the maximum is €100,000.

Beneficiaries choose the year in which they incurred the highest working capital expenditures. Specifically in 2019 or 2020 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:

• purchases of goods for use
• the purchases of raw materials and materials for use
• of all benefits to employees (except those employed in Agricultural-Organic activities)
• of the various operating expenses

Basic Conditions for Participation

Businesses should, inter alia, meet the following conditions:

• be registered in the National Register of Start-ups/Elevate Greece, established and maintained by the General Secretariat for Research and Innovation, Directorate for Supporting Research and Innovation Actions/Division C A Innovation
• the company's activity is compatible with an area of the national smart specialisation strategy RIS3
• be micro, small or medium-sized enterprises
• have started by 31.12.2020,
• be active in one of the eligible SMRs, according to Annex I of the Detailed Call "ELIGIBLE ACTIVITIES (Nace Codes)"
• operate exclusively with one of the following types of enterprises of corporate / commercial character: IKE, LTD, SA, based in the Greek Territory, or capital companies based abroad, which maintain a branch in Greece, as long as it has a Greek VAT number and is registered in the G.E.MI / General Commercial Registry
• 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) for the reporting year 2019 on time, in accordance with the tax legislation, or a Solemn Declaration for those businesses that choose 2020 as the reference year
• the total amount of public funding that the beneficiary will receive does not exceed in total nominal value the total ceiling of EUR 1,800,000

The evaluation of the submitted applications is done in order of priority (first in-first out), according to:

• the date and time of electronic submission to the State Aid Information System
• the total Public Funding (P.C.) of the call
• and the funding ceiling of EUR 100 000 given the adequacy of the budget

It is noted that there is no scoring of the applications but only a verification of compliance with the conditions of participation. In case of exhaustion of the available budget, the GSRT informs the potential beneficiaries through the relevant website: www.gsrt.gr and the website of ESA EPAnEK: www.antagonistikotita.gr.