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Ministry of Development: Support for 60 start-ups affected by Covid-19

A decision has been published on the inclusion of 60 start-ups, supported in the form of a non-refundable advance of € 5,000 – € 100,000, under the Action “Support for Start-ups of National Register “Elevate Greece”” of the Operational Programme “Entrepreneurship, Competitiveness and Innovation”, to tackle the Covid-19 pandemic, so that businesses remain viable and jobs are not lost. The total public expenditure amounts to € 4.62 million.

So far 239 applications for funding have been submitted and 169 have been evaluated. The next Inclusion Decision for 84 more start-ups is expected in the course of July, for a total public expenditure of € 6.1 million.

The Action is funded by the European Regional Development Fund (ERDF) and national resources.

It is noted that the budget of the action amounts to € 60 million, the evaluation of the submitted applications is done on a first in-first out basis, according to the date and time of their electronic submission to the PSCE and the submissions continue until 30.09.2021.

The Minister of Development and Investment, Mr. Adonis Georgiades said:

“I am extremely proud that through the implementation of the Elevate Greece initiative we have found a way to use European resources to boost start-up innovation businesses in Greece. The Greece of the future will be a competitive and modern Greece”.

The Deputy Minister of Development and Investment responsible for Research and Innovation, MP for Corinthia, Mr. Christos Dimas said:

“Until recently, the Greek state did not know how many start-ups exist, in which sectors they operate, how many employees they employ, what turnover they achieve. When you don’t have data and information, it is difficult to implement effective policy. Through Elevate Greece we now have detailed data on the innovation ecosystem, so we can implement targeted programmes to support start-up entrepreneurship.

The COVID pandemic has also affected startups, especially those operating in tourism. The state, through Elevate Greece, from NSRF funds, supports in the form of a non-refundable advance of €5,000-100,000 to start-ups that were financially affected by the pandemic. Start-ups need support to grow even further and create innovative products and services for the benefit of citizens, society and the economy.”

Read more:

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