Elevate Greece Announces Funding for Start-ups

The Greek Ministry of Development announced that start-ups registered with Elevate Greece will be able to apply for € 60 mln in working capital funding. The funding will be provided as non-repayable grants.

Athens, Greece: 05 January 2021

The funding is aimed at providing Greek start-up companies impacted by Covid-19 with the support. Very small, small and medium sized companies registered on the national registry are eligible for working capital grants to to cover expenses such as:

Purchase of consumer goods
Raw materials and consumables
Employee costs
Operating expenses.

The funding is open to the companies meeting the following requirements:

The companies should be operating legally in Greece before 1 January 2020.
The sum of working capital expenses for the year 2019 should be equal to or greater than € 10,000.
Companies must be among Covid-19 affected activities (KAD).
Companies must be clear of any “problematic” issues.

Projects are subsidised between € 5,000 and € 100,000 with the grant amount covering at least 50% of expenses for 2019.

The opening date for applications is expected to be announced in January 2021. Interested parties should apply here by 30 June 2021.

Elevate Greece is an initiative launched by Greek Government with the aim of identifying promising start-ups and supporting their growth in order to promote a robust innovation ecosystem.

Navigator Consulting provides Investment Advisory, Strategic Management and support for tech start-ups in Greece and internationally. For further information, please contact

Philip Ammerman

Managing Director

info@navigator-consulting.com

Sources:

Elevate Greece Announces Funding for Startups

Greek Travel Pages. 5 January 2021

Greek start-ups absorb $ 1 billion in funding

Navigator Consulting. 2 December 2020

Greece launches Elevate Greece

Navigator Consulting. 13 October 2020

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