New NSRF Actions

25 October 2017

New NSRF Actions for Tourism, Extroversion, Environmental Industry, Upgrading of Small and Micro-Enterprises & Start-ups

1. ‘Supporting the Establishment and Operation of New SMEs in the tourism sector’
Public Expenditure: €120 million – Up to 50% subsidy (September 2017).
This concerns support for tourism enterprises that are newly incorporated or under incorporation (hotels, camping sites, tourism lodgings – rented rooms, travel agencies, car rental agencies, TEOMs (Road Transport Tourism Enterprises), freight forwarders, alternative forms of tourism), aiming at:

  1. The development of special forms of tourism, as well as the upgrading and/or diversification – enrichment of the traditional ‘sun & sea’ tourism model
  2. The achievement of higher quality of services provided throughout the value chain

The subsidised budget will range from €25,000 to €400,000.
The eligible expenditures include, by way of indication:

  • Expenditures concerning the erection, expansion and renovation of building infrastructure;
  • Furniture and fittings;
  • Electric appliances;
  • Clothing;
  • Computerisation equipment;
  • Promotional expenditures.

2.  ‘Upgrading micro & small businesses to develop their skills in new markets’ (2nd cycle)
Public Expenditure: €150 million – Up to 50% subsidy (September 2017).

This action concerns the provision of aid to small and micro-enterprises active in the eight priority areas of the Operational Programme Competitiveness, Entrepreneurship and Innovation (EPAnEK), namely agri-nutrition/food industry, energy, environment, information and communication technologies (ICT), logistics, health, materials-construction, cultural industries) in order to enable them to upgrade their competitive position by investing in their technological, organisational and commercial modernisation or in the restructuring of their operations or products/services.
The investment plans to receive aid must clearly aim at improving the quality of the products and services being offered or at creating new products/services to cover specific market needs. Furthermore, the investment plans may aim at reducing costs or increasing the efficacy of operational and productive processes.
Eligible expenditures include building works, mechanical and other equipment, software and computerisation equipment, quality system certification expenditures, promotional expenditures, payroll for existing and/or new jobs.

3. ‘Extroversion – Internationalisation of SMEs’
Public Expenditure: €50 million – Up to 50% subsidy (October 2017).

The goal of the action is to aid the extroverted entrepreneurship of new and existing enterprises through their participation in regional and international added value chains and, generally speaking, to boost their competitive position.
Eligible expenditures include: cost of participation in international fairs, expenditures for the design of new products and packaging, market research expenditures, mechanical equipment for the final stage of production.

4. ‘Aid for Social Cooperative Enterprises’
This concerns a comprehensive financial reform agenda, adapted to the particular features of each area and focusing on national regional priorities for knowledge-based growth.
Eligible expenditures may concern:

  • Procurement of the necessary equipment
  • Assurance of the quality of the services provided
  • Coverage of the payroll cost of existing jobs and for the creation of new jobs

5. Aid for Environmental Industry, with Public Expenditure amounting to €15 million in total, focusing on the business utilisation of liquid, solid and gaseous waste and refuse for the production and disposal of raw materials and products/services with high added value.

The Eligible Budget of the investment plans is expected to range between €250,000 and €2,500,000.

6. ‘Aid for start-ups to exploit the research results of start-ups, spin-offs and spin-outs’ aiming at providing aid for the establishment and development of knowledge-intensive start-ups by Higher Educational Institutes and Technological Educational Institutes, research centres, enterprises and researchers for the commercial exploitation and commercialisation of mature research results and innovative ideas.
In other words, the action aims at supporting the creation and development of new, innovative business activities through the exploitation of new or existing patents with prospects for commercial exploitation, the application of innovative investment plans and the exploitation of the knowledge produced by researchers, scientists and new, dynamic enterprises engaging in innovative activities.