The launch of a competition - with a focus on ESG criteria and innovation- was announced by Hellenic Development Bank , in cooperation with Elevate Greece of the Ministry of Development and Investment, in the framework of the Thessaloniki International Fair (TIF. The competition is addressed to the startups of Elevate Greece. It concerns the creation of applications and platforms for the integration and evaluation of environmental, social and corporate governance (ESG) criteria as well as the degree of innovation of businesses, especially SMEs, with the aim of expanding the perimeter of businesses that are considered bankable.

The submission of applications is done through the Elevate Greece platform with the deadline for submission being September 30, 2021.

Agreement between the Participant and HDB

The ESG Innovation Challenge ("Competition") Competition is offered by Hellenic Development Bank ("HDB") in cooperation with Elevate Greece to legal entities legally operating in Greece and entitled to participate in this Competition ("Entrants") and requires the acceptance without modification of the terms and conditions contained herein ("Terms"). The submission by the Participants of the Entry Form ("Submission") constitutes their agreement to the following Terms.

Innovation Competition Statement

The adoption of ESG Environmental (Environmental), Social and Corporate Governance criteria and the adoption of innovation criteria for monitoring the production, assimilation and successful exploitation of new achievements or ideas in the economic and social sector in business evaluation, is a rapidly rising trend internationally. The term "ESG" refers to environmental, social and corporate governance issues. Issues that can affect a company's ability to generate value in the long run. Through indicators that record performance on environmental, corporate governance society (ESG indicators) and innovation, the ability of companies to create value and formulate effective strategies with a long-term horizon is reflected.

Participants in the context of a) the knowledge and monitoring of ESG (Environmental, Social and corporate Governance) practices by businesses and b) the evaluation and monitoring of the degree of innovation of enterprises and the evaluation of the achievement of an innovative project, form an opinion on both ESG criteria and those related to the degree of innovation and are invited to create and present applications and/or platforms or easy-to-use business intelligence tools (Business Intelligence), which convert each company's data into information wherever it comes from along with other open data sources and use it to form part of a more comprehensive Credit / Investment Scoring process beyond the use of traditional banking criteria, in order to expand the perimeter of businesses that will be considered bankable.

Description of the Innovation Contest for startups

The Hellenic Development Bank (HDB) seeks to facilitate the access of businesses to sources of finance and to expand their bankability, especially of small and medium-sized enterprises.

In this direction, it seeks innovative digital solutions that can be part of an alternative evaluation process (Credit & Investment Scoring) beyond the use of traditional banking criteria.

Consequently, and based on the view that transparency in the exchange of information has a direct and positive effect on the financing of sound development projects, the Greek economy as a whole will be strengthened.

Themes of the startups competition

1. ESG Scoring: Methodology, platform applications and Business Intelligence applications that provide automation in the evaluation and monitoring of ESG (Environmental, Social and corporate Governance) policies and practices by businesses, in order to adapt to credit criteria for alternative Credit Scoring and key performance indicators (KPIs) and / or to be criteria for investment decisions, for example by ESG funds or any other investment scheme interested.

2. Innovation Scoring: Methodology, applications, platforms and Business Intelligence applications that provide automation in the evaluation and monitoring of the degree of business innovation, the evaluation of the achievement of the project through the control of criteria / KPIs with application in the creation of alternative Credit Scoring or more specific evaluation.

For both thematic units, the following are of interest:

· Educational e-learning side, either as part of the proposed solution or autonomously.

· Data visualization (dashboards) and Business Intelligence tools

A proposal can be submitted for each Challenge separately or a proposal covering both thematic areas.

Procedure

11 September – 30 September: Submission period on the Elevate Greece platform

1 October – 8 October: First evaluation and communication with semi-finalist

October 15: Pitching & final evaluation

Reward / Possible Partnership

HDB provides PoC (Proof of Concept) funding up to the amount of 40,000 euros for both thematic areas in total (20,000 for each thematic unit). There is also the prospect of concluding a commercial cooperation agreement with the company (s) that will be distinguished

The idea will be recognized and promoted by HDB and its network of partners, in terms of its contribution to the expansion of bankability with a positive impact on an economic and social level.

Eligibility of innovation for startups

Any legal entity (start-up) legally operating in Greece may participate in the Competition. It must also be registered on the "Elevate Greece" platform at the time of participation ("Participant"). "Elevate Greece" is the official platform and the leading source for in-depth information about the Greek startup ecosystem. The National Register of Start-ups is the official archive of start-ups in Greece. For the conditions of registration and the criteria for the registration of companies in this register see specifically: (a) Joint Decision of the Deputy Ministers of Finance and Development and Investment of Greece No. 134622/ Government Gazette B'/5587/18.12.2020 "Recommendation to the General Secretariat for Research and Technology of the Ministry of Development and Investment, National Registry of Start-up Enterprises. Registration requirements and criteria for the registration of enterprises in this register" and b) on the website: https://elevategreece.gov.gr/startup-registry/ ).

Participation in legal entities wholly or partially owned or managed by HDB employees is not allowed.