The Action concerns support for entrepreneurship through the establishment of new micro-, small, and medium enterprises in specific Activity Code Numbers spanning all sectors of the economy, except for catering, retail, and tourism.
Budget: €190,000,000
The Action is co-funded by the EU European Regional Development Fund (ERDF) and national funds.
Eligible Enterprises
Enterprises eligible to submit a proposal for the Action include under-establishment and newly established small and micro-enterprises, as these are defined in Commission Recommendation 2003/361/EC.
The term ‘newly established’ signifies enterprises that have not exceeded a 12-month period of continuous operation as of the date of announcement of the action.
The selected eligible Activity Code Numbers (ACNos) shall be defined in the Detailed Invitation of the Action. These numbers will not include those associated with support for enterprises in the Catering, Retail, and Tourism sectors.
Investment Plans and Funding Rates
Each investment plan may receive from €40,000 to €400,000 in funding.
The overall funding will amount to 45% of submitted expenses.
The percentage of the funding may be increased by (a) 10% if the investment is made in a remote or fire-prone or earthquake-prone or flood-prone area or on small islands; or (b) an additional 5% with the employment of at least 1 ALU (Annual Labour Unit), in the first year after the completion of the investment.
The maximum duration of completion of the physical and financial object of the investment plan cannot under any circumstances exceed twenty-four (24) months.
Basic Participation Requirements
Potential beneficiary enterprises:
- Must invest exclusively in one Region.
- Must be active exclusively in eligible ACNos, as defined in the Detailed Invitation expected to be issued, throughout the implementation of their investment plan. Startups must only be active in eligible ACNos of the Action.
- Must provide accurate details and location data regarding where the investment on a specific property (land, building or other kind of secluded area) will be implemented.
- Must have an approved building permit or, at least, a submitted application for it to be issued, in cases of construction and completion of buildings, from the date on which electronic submission commences, as set out in the call.
- Must submit details of their rights of use (ownership, usufruct, lease) on the property.
- Must submit a Land Use Certificate for the above investment location.
- Must provide evidence of securing the Private Participation at the percentage to be specified in the Detailed Invitation.
- Must meet the implementation requirements of Reg. EU 1407/2013 (De Minimis) on which the Action is based.
All requirements for participation shall be defined in the Detailed Invitation of the Action.
Categories of Eligible Costs
- Buildings, Facilities, and Surrounding Area
- Machinery – Equipment
- Digital Equipment and Software
- Other Equipment
- First-time operating aid (start-up SMEs)
- Promotion and Extroversion Costs
- Technical Studies
- Consulting Services
- Means of Transportation
- Indirect Costs (up to 7% of eligible direct costs of the investment plan)
The eligible cost categories, as well as their ceiling, will be set out in the Detailed Invitation of the Action.
The cost eligibility starting date shall be the date of the Action’s call
Submission and Evaluation of Applications for Funding
Applications for funding are submitted through the Integrated State Aid Management Information System (iSAMIS). No printed supporting documents shall be submitted. The deadline and submission process, required supporting documents, obligations of the beneficiaries, as well as the other terms of implementation will be described in detail in the Detailed Invitation of the Action.
The Action will be evaluated through Benchmarking.
To see the Pre-publication of the Action, click here
