2nd Announcement of the Aid Scheme "LARGE INVESTMENTS" of the development law 4887/2022 (A' 16)

Action 4-4.1-04: "XEKINO EPICHEIRIMATIKA" is co-financed by the European Social Fund (ESF+) and concerns the support of higher education graduates for the establishment and operation of a business activity, with the aim of strengthening self-employment and boosting employment by creating new jobs. Beneficiaries join the program either as individual entrepreneurs/professionals (sole proprietorships), or by establishing small and very small enterprises, in which they participate as partners/beneficiaries.

Action Budget

The budget of this Action amounts to a total amount of 70.000.000€ (Public Expenditure) and is distributed among the regions of the country as follows:

Beneficiaries of the Action

In the context of this, the following are supported: under recommendation and newly established Small and Very Small Enterprises, as defined in Annex IV hereto, which are established by natural persons who have obtained their first degree from a higher education institution (HEI/TEI) after 1/1/2016, as well as new businesses (self-employed or corporate/multi-shareholder structures with legal forms, as defined in this Call) that started after 1/1/2025, which will be active or are active in the eligible CACs of this Call (Annex II ELIGIBLE ACTIVITIES (CACs)).

In particular, the following categories of businesses are eligible for this Action:

Category A. Under recommendation. Businesses that will be established after the date of submission of the Funding Application and no later than 365 days from the date of electronic notification of the final approval of the funding application and will operate exclusively in eligible KAD(s), throughout the implementation of the business plan and until the repayment of the investment, in accordance with Annex II ELIGIBLE ACTIVITIES (KAD).

Category B. Newly establishedThe term newly established refers to businesses that have been established from 01/1/2025 up to and including the date of submission of the Funding Application.

It is noted that they must operate continuously exclusively in eligible CSDs of the Action (Annex II ELIGIBLE ACTIVITIES (KAD)) from the date of commencement of the business in the AADE and throughout the implementation of the business plan until the repayment of the investment.

Basic Requirements

The following conditions constitute some of the basic necessary conditions for the eligibility and participation of businesses in the Action:

• The potential beneficiary or potential beneficiaries, in the case of a corporate/multi-shareholder structure, must be holders of a higher education degree (HEI/TEI) or from Higher Schools of Artistic Education recognized by the Ministry of Culture, as well as from music schools (conservatories) recognized and supervised by the State after 01/01/2016 (first degree).

In the case of two or more higher education qualifications and simultaneously a higher level of qualification, the score of the higher level is given.

• To declare as the place for the implementation of the actions of this Action exclusively in one Category of Region of the Country (headquarters or branch). It is clarified that the company can implement expenses in only one professional establishment (headquarters of the company or branches).
• To operate in an independent, purely professional space. An independent professional space is defined as a space that has autonomy in use without being functionally dependent on other spaces and serves exclusively the exercise of the business's activity.
• The place of implementation of the investment must not be identical or must be committed not to be identical with the residence of the Beneficiary or any other first or second degree relative (primary or secondary)
• The individual income of the last available tax year of the potential beneficiary/partner, as shown in table C of the Summary of the Administrative Tax Determination/Settlement Act, should not exceed €30,000. In the event that the potential beneficiary/partner is a protected member and is not required to submit a tax return, the family income of the last available tax year is examined as shown in table C of the Summary of the Administrative Tax Determination/Settlement Act, which should not exceed €75,000. The last submitted and cleared tax form E1 (tax year 2024 or 2025) will be taken into account. It is noted that: this specific condition is examined for all partners in the case of a corporate/multi-shareholder structure.
• Potential beneficiaries/partners should not have an employment relationship and should not receive an old-age pension at the start of the business and throughout the implementation of the business plan.
• They must not have joined or submitted a funding application that is under evaluation in other subsidized programs (national or co-financed) in the capacity of an individual entrepreneur/professional or a partner in a subsidized company, as of 01.01.2025 and throughout the implementation of the business plan.
• Not to participate as a partner/shareholder in a percentage greater than or equal to 25% and not to exercise dominant influence over other businesses of any legal form from 01.01.2025 and throughout the implementation of the business plan.
• The physical object of the investment must not have been completed before the submission of the funding application.

Eligible Sectors Activity

This Action concerns the financial support of Small and Very Small Enterprises provided that they fall within the scope and in accordance with the restrictions of Regulation (EU) 2023/2831 (OJ EL L 15.12.2023) (De Minimis). The eligible categories of business activities (CBA) are listed in detail in Annex II "ELIGIBLE ACTIVITIES (CBA)" of this Detailed Call.

Subsidy

Public funding is paid directly to the business plan entity as follows:

The above grant amounts per category may to be increased by €15,000 the maximum (unit cost), when declared in the funding application and verified during the implementation period, the creation of a new job (1 EMU).

It is noted that the company is required to complete at least two (2) semesters of verified operation (two milestones). It is noted that in the event that the beneficiary completes only two (2) semesters of verified operation, the amount of the corresponding grant will amount to €8,700.00 (€14,000.00 in the case of a corporate multi-shareholder scheme). Otherwise, the business plan will lead to the revocation of the inclusion decision and the recovery of any public funding received, in accordance with the applicable institutional framework.

Implementation Duration

The duration of the grant may concern continuous verified operation. twelve (12) or eighteen (18) months, from the date of commencement of business activity [i.e. at least two (2) milestones/semester verified operation from the start date in the AADE]

Aid Scheme

The aid under this Action constitutes grants and will be made available to enterprises within the framework of EU Regulation 2023/2831 (De Minimis), which concerns the application of Articles 107 and 108 of the Treaty to de minimis aid (De Minimis).

Financing Scheme

The percentage of Public Funding amounts to 100% the total (subsidized) budget of each business plan.

Subsidized Expenditures

1. Lump Sum

Indicative operating costs eligible for the Action, within the framework of applying the simplified cost option and lump sum calculation, may be the following:

• Operating expenses (rent of professional space, electricity costs, fixed and mobile professional telephony, water supply, heating, other common expenses, costs of hosting in incubators, etc.)
• Expenses for third-party fees (legal, consulting, accounting support, drafting and monitoring of a business plan, incubator services, specialized vocational training seminars, etc.)
• Promotion, networking and exhibition participation costs
• Supply of consumables
• Equipment procurement / Equipment leasing / Fixed asset depreciation
• Insurance contributions of the beneficiary (entrepreneur/partners)

1. UNIT COST (Unit Cost)

Salary costs for new job(s)

Unit cost for the compensation of beneficiaries for the creation of new employment position(s) with a dependent employment relationship. The calculation is based on the provisions of national legislation on the legal minimum gross wage, contributions and benefits.

Included: Gross earnings, Holiday allowances, Leave allowance, Employer social security contributions.

New staff costs are eligible up to €15,000 for one (1) EME.

Evaluation Criteria

A. GROUP OF GRADING CRITERIA – EVALUATION OF PROFESSIONAL EXPERIENCE & LEVEL OF STUDIES (CRITERIA GROUP WEIGHT 35%)

• A.1 General professional experience
• A.2 Existence of a higher education qualification after obtaining a basic higher education qualification

B. GROUP OF RATED CRITERIA – ASSESSMENT OF MACROECONOMIC & OTHER CONDITIONS AT REGIONAL UNIT LEVEL (CRITERIA GROUP WEIGHT 35%)

• B.1 Average GDP per capita (By Regional Unit)
• B.2. Declining or not Demographic Trend (By Regional Unit)
• B.3 Special Area (Fire-stricken/Earthquake-stricken/Flooded)

C. GROUP OF GRADING CRITERIA – EVALUATION OF INDIVIDUAL ELEMENTS OF A FUNDING APPLICATION (CRITERIA GROUP WEIGHT 15%)

• C.1 Creation of a Corporate/Multi-Shareholder Scheme
• C.2. Creation of an Annual Work Unit (AWU)

D. GROUP OF RATED CRITERIA – SOCIAL CRITERIA (CRITERIA GROUP WEIGHT 15%)

• D.1. Existence of certified disability at the level of potential beneficiary/beneficiary

Electronic Submission

The start date for electronic submission of funding applications to the Integrated State Aid Information System (IPSKE) is set Wednesday 06.05.2026 at 15:00 with a closing date of Tuesday 30.06.2026 at 15:00.

Contact us to proceed with checking your eligibility and submitting your application.