Support for Entrepreneurship in the Priority Sectors of the South Aegean Region

The Action “Support for Entrepreneurship in the Priority Sectors of the South Aegean Region” has been announced under the “South Aegean” Programme 2021–2027, with public funding of €5 million and the possibility of 200% overcommitment.

Existing micro, small and medium-sized enterprises may apply for investment projects ranging from €30,000 to €400,000, implemented within the South Aegean Region, including the Cyclades and the Dodecanese.

The grant rate amounts to 60% of the eligible investment budget. The Action supports the upgrading of businesses and the development of new, innovative or improved products and services with high added value. Its objective is to strengthen their position in both domestic and international markets, while ensuring alignment with the Region’s smart specialisation priorities (RIS3).

Eligible legal forms include, among others, sole proprietorships, S.A., Ltd, G.P., L.P. and Private Companies (I.K.E.), provided that they meet the requirements of the Call. Applicants must have completed at least two full financial years and must have had at least one (1) Annual Work Unit (AWU) of salaried employment during 2025.

Applications may be submitted from 28/08/2026 at 13:00 until 30/10/2026 at 15:00, electronically through OPSKE. The evaluation process is comparative and is not based on a first-come, first-served basis.

The Investment Center [Blackbird Group] provides comprehensive support, from the initial eligibility assessment and estimation of the expected evaluation score to the preparation and submission of the investment project and the monitoring of its implementation.

⬢ Grant Rate

Public funding covers 60% of the approved eligible investment budget. The remaining 40% must be covered through private participation, using own funds and/or borrowing. Bank financing is not mandatory.

⬢ Eligible Activities

Each proposal must be linked to a specific regional priority within one of the following sectors:

Information and communication technologies, green technologies and human resources provide horizontal support across the above sectors. Eligibility is assessed against the specific NACE code listed in Annex XI of the Action and the link between the investment project and the RIS3 Strategy sectors.

The 1st Amendment dated 21/09/2026 expanded the list of eligible NACE codes under the Programme. Preliminary eligibility checks should therefore be carried out using the updated Call for Proposals, and eligibility should not be assumed solely on the basis of a company’s general business activity description.

⬢ Beneficiaries & Key Requirements

The Action concerns existing micro, small and medium-sized enterprises. Newly established or start-up enterprises are not eligible. The main requirements include:

› Two fully completed financial years. For businesses operating on the standard calendar year, the years 2024 and 2025 are examined. Official clarifications specify that business activity must have commenced no later than 31/12/2023.

› At least 1 Annual Work Unit (AWU) of salaried employment in 2025. AWU represents annual employment expressed in full-time equivalents; seasonal and part-time employment is calculated proportionally.

› Eligible existing business activity. The primary NACE code or the NACE code generating the highest revenue must be eligible and must have been active throughout 2025, in accordance with the official clarifications.

› Eligible investment NACE code. It may be activated after submission of the application, but it must be active before the first grant disbursement.

› The investment must be implemented exclusively within the South Aegean Region, with one application permitted per Tax Identification Number.

› Evidence of private participation covering at least 40% of the total budget, supported by the documentation required under the Call.

› Lawful business operation, appropriate licensing and maintenance of either simplified or double-entry accounting books.

Eligible legal forms include S.A., Ltd, G.P., L.P., Private Companies (I.K.E.), sole proprietorships, Social Cooperative Enterprises, Maritime Companies for Pleasure Yachts (N.E.P.A.), agricultural and urban cooperatives and Social Cooperatives of Limited Liability (Koi.S.P.E.), subject to the specific conditions of the Call.

⬢ Eligible Expenditure

Expenditure must directly serve the investment project, be reasonable and be adequately documented. The percentages shown in the following table represent maximum eligible expenditure limits as a percentage of the subsidised investment budget, rather than different grant rates.

Indirect costs are included within the overall eligible investment budget. Individual expenditure limits are not added together as additional funding; they apply alongside the specific conditions applicable to each expenditure category.

⬢ Important Eligibility Requirements

› Start date for eligible expenditure: the publication date of the Call for Proposals, 24/07/2026. Expenditure incurred before this date is not eligible, even where the relevant contract has not yet been invoiced.

› Implementation period: up to 24 months from the electronic notification of final approval. No standard extension is foreseen, except in the specific cases of force majeure provided for under the applicable rules.

› De minimis: the overall ceiling of €300,000 over a rolling three-year period is assessed at single-undertaking level, including the new aid requested.

› Business premises: co-location in a non-distinct space that would allow another company to use the subsidised fixed assets is not permitted.

› Accessibility: the required interventions for persons with disabilities must be provided for, depending on the nature of the investment.

⬢ Evaluation Criteria

Applications are comparatively evaluated and ranked according to their score until the available programme budget is exhausted. Early preparation enables businesses to assess the completeness of their proposal, its alignment with the Region’s priorities and the company's financial performance.

⬢ Application Submission & Supporting Documents

Applications must be submitted exclusively through OPSKE by 30 October 2026 at 15:00, together with all required information and supporting documentation.

Depending on the case, the application file includes company incorporation and representation documents, tax and financial information for 2024–2025, evidence of lawful operation, SME and de minimis declarations, evidence of the required private contribution and documentation of the investment project and its expenditure. The exact documentation requirements must be checked against Annex II of the current Call for Proposals.

Update 21/09/2026: The first amendment corrected the financial years examined for supporting financial documentation to 2024 and 2025, updated the documentation requirements for capital companies, clarified the calculation of the evaluation score and added further eligible NACE codes.

The Investment Center [Blackbird Group], with more than 16 years of experience in EU-funded and ESIF programmes, provides comprehensive support including eligibility assessment, estimation of the expected evaluation score and the preparation and submission of a fully documented investment project for the Action “Support for Entrepreneurship in the Priority Sectors of the South Aegean Region”.

More than 10 years of experience in business development and investment support schemes

✓ 3,000+ subsidised investment projects

✓ 95.6% success rate (approved applications)

16 Consecutive Years of Experience & Success!

Our consistently high success rates reflect the systematic preparation, documentation and organised support required for subsidised investment programmes.