Start-up Entrepreneurship - The program concerns the establishment of new small and micro enterprises by unemployed people and by professionals who do not have a paid employment relationship.

It aims to create micro and small, viable enterprises with an emphasis on innovative business plans and to enhance employment by creating sustainable new jobs.

Who it concerns Young Entrepreneurship

The program is open to:

• Unemployed registered in the unemployment registers of OAED at the time of submission of the application.
• Individual service entrepreneurs who are active traders without an employment relationship and who are not in receipt of an old-age pension on the date of publication of the invitation.

Individual entrepreneurs engaged in a commercial activity are not eligible

Program budget

The budget for public expenditure amounts to EUR 120 million. It will be divided into two cycles (1st cycle first half of 2016: 60% and 2nd cycle: second half of 2016: 40%).

The present action of the first cycle is financed with an amount of 72 million. euros and distributed among the regions as follows:

• Eastern Macedonia & Thrace, Central Macedonia, Epirus, Thessaly, Western Greece: 43.440.000€
• Western Macedonia, Ionian Islands, Peloponnese, North Aegean, Crete: 12.780.000€
• Attica: 11.040.000 €
• Central Greece: 2.760.000 €
• South Aegean: 1.980.000 €

Amount of subsidy

From €15,000 up to €60,000

Subsidized for

Setting up a business in the 8 strategic priority areas:

• Agri-food / Food Industry
• Cultural & Creative Industries (CCI)
• Materials / Constructions
• Supply Chain
• Energy
• Environment
• Information and Communication Technologies ICT
• Health-Medicines.

Expenses subsidized

• Operational (business premises, electricity, telephone, water, heating) costs--> 60%
• Costs for third-party fees (legal, accounting support) --> 8%
• Costs of promotion, networking and participation in exhibitions --> 15%
• Depreciation of fixed assets / Financial leasing of equipment -->30%
• Purchase / Leasing of equipment / Landscaping --> 40% (using flexibility clause)
• Supplies supply -->15%
• Beneficiary's (entrepreneur/partner) insurance contributions -->30%
• Salary cost for new position(s) -->€24,000
• Costs of preparation, submission, registration or renewal for a recognized industrial or intellectual property title -->20%

Costs will only be eligible if they are incurred after 17.03.2016 starting date for the electronic submission of the application for funding.

The funding covers 100% of the eligible costs.

Important dates for Neophyris Entrepreneurship

The start of the online submission will be on 17.03.2016 and will remain open until 27.04.2016.

Young Entrepreneurship - Required documents for submission Applications

Required among other things

• Submission form signed by the Legal Representative of the company
• Unemployment card from OAED or certificate
• Photocopy of identity card
• Copy of the 2015 E1 form
• Certificate of commencement as well as any changes of work by a competent Tax Office
• Supporting documents of legal existence

More information about the action here.