Greece – Business Innovation

Greece – Business Innovation is now accepting applicants. The purpose of the Greece – Business Innovation program is to enhance the creation of value and promote sustainable growth in the business sector of Greece. Moreover, the program is funded by European Economic Area  (EEA) Grants and is a component of the EEA and Norway Grants 2014-2021 initiative. Additionally,  the primary objective of the EEA and Norway Grants is to decrease economic and social inequalities in the European Economic Area (EEA) while fostering stronger bilateral ties between the donor countries (Norway, Iceland, and Liechtenstein) and the recipient countries.

Eligibility

• SMEs1 and large companies with no more than 25% public ownership, established as legal entities in
  Greece
• Not-for-profit organisations2 (including clusters and business associations) established as legal entities
  in Greece. O
• Registered as Associations (Civil Code Art. 78-107), Civil non-profit companies
  (Civil Code Art. 741-748) and Foundations (Civil Code Art. 108-121 and Law 4182/2013 Art. 50-60), are
  considered as NGOs
• Also, to qualify for the “Business Innovation Greece” program, applicants must send their applications to the Fund Operator, Innovation Norway, via email according to the submission procedures outlined in Article 5.
• Additionally, all application materials and supporting documents must be submitted in English, as it is the program’s official language.
• However, official certificates and certified annual accounts can be presented in Greek.

Eligible partners: Any public or private entity, commercial or non-commercial and non-governmental
organizations, established as a legal person in Norway, Iceland, Liechtenstein or in Greece.

Not eligible costs:

• Interest on debt, debt service charges and late payment charges
• Charges for financial transactions and other purely financial costs, except costs related to accounts and
  financial services imposed by the project contract
• Provisions for losses or potential future liabilities
• Exchange losses
• Recoverable VAT
• Additionally, costs that are covered by other sources
•  fines, penalties and costs of litigation, except where litigation is an integral and necessary component
  For achieving the outcomes of the project
• Also, costs for purchase of a new or second-hand equipment
• Any other costs incurred before the date of the grant awarded, or, if different, the date set in the
  project contract; and
• Operational expenses.

Risk Management for Business

Benefits

• The minimum amount of grant assistance applied for shall be EUR 10,000.
• Also, the maximum amount of grant assistance applied for shall be EUR 200,000

Application Process

To be eligible, applications must be submitted to the Fund Operator for the “Business Innovation Greece”
Programme, Innovation Norway, via email: GR.Innovation@innovationnorway.no 

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