Introduction

On April 16, 2025, the first amendment for the two new business support actions in the island regions of Greece was published under the “JTP 2021-2027” program (“Green Business Initiative”). These actions, with a total budget of 50.000.000€, primarily aim to support entrepreneurship and promote sustainable development, with a particular focus on green technologies and innovative solutions. These initiatives are targeted at both existing businesses already operating in island regions and new entrepreneurs wishing to establish their own businesses, thereby creating new opportunities for growth and employment in areas with small populations.

Eligible Beneficiaries & Participation Requirements

The invitation applies to businesses that are currently operating or plan to operate on islands with a population of up to 3.100 residents, according to the data from the latest 2021 census. The island areas included in these actions are vital for the Greek economy and are in particular need of developmental support and renewal.

Some of the islands included are:

• Fourni Korseon (Municipality of Fourni Korseon, Island of Thymaina)
• Agios Efstratios (Municipality of Agios Efstratios)
• Psara (Municipality of the Heroic Island of Psara)
• Oinousses (Municipality of Oinousses)
• Thirasia (Municipality of Thira)
• Anafi (Municipality of Anafi)
• Ios (Municipality of Ios)
• Sikinos (Municipality of Sikinos)
• Folegandros (Municipality of Folegandros)
• Telendos (Island of Telendos)
• Spherimos (Island of Spherimos)
• Agathonisi (Municipality of Agathonisi)
• Astypalaia (Municipality of Astypalaia)
• Lipsi (Municipality of Lipsi)
• Arki (Island of Arki)
• Kasos (Municipality of the Heroic Island of Kasos)
• Kea (Municipality of Kea)
• Kythnos (Municipality of Kythnos)
• Nisyros (Municipality of Nisyros)
• Kimolos (Municipality of Kimolos)
• Serifos (Municipality of Serifos)
• Sifnos (Municipality of Sifnos)
• Amorgos (Municipality of Amorgos)
• Donoussa (Municipality of Amorgos)
• Iraklia (Municipality of Amorgos)
• Koufonisia (Municipality of Amorgos)
• Schinoussa (Municipality of Amorgos)
• Antiparos (Municipality of Antiparos)
• Megisti (Kastellorizo) (Municipality of Megisti)
• Tilos (Municipality of Tilos)
• Symi (Municipality of Symi)
• Chalki (Municipality of Chalki)
• Gavdos (Municipality of Gavdos

Type and Amount of funding

The actions are funded by the Just Transition Program (JTP) and the Just Transition Fund (JTF), with the aim of contributing to the achievement of policy goal JS08.1 and Priority 1: “Strengthening and Promoting Entrepreneurship.” These actions aim to strengthen the local economy through sustainable investments and promote green development, which will help empower the island areas and improve the quality of life of their inhabitants. Supporting local businesses and developing innovative green technologies are critical factors for the sustainable development of the islands and for achieving the goals of the European Green Deal, with particular emphasis on areas with fewer resources and limited access to investments. Below are the key points of each action.

1. Support for the Establishment of Very Small and Small Enterprises in the Island Areas under the “JTP 2021-2027” Program (“Green Entrepreneurship”)

Program Budget: 30.000.000€

Minimum and Maximum Eligible Investment Budget: From 20.000€ to 150.000€

Eligible Beneficiaries: The funding is available for new and under-establishment very small and small enterprises that will implement an investment project in at least one of the eligible NACE codes listed in the call. Under-establishment refers to enterprises that will commence operations after submitting the funding application. New enterprises are those with fewer than two full fiscal years

Funding Intensity: 70% of the investment budget, excluding specific expenses and limits

Key Eligible Expenses:

• Building facilities
• Site development works
• Machinery & Equipment
• Other equipment
• Means of transport
• Service provision expenses
• Indirect costs (7%)

• Support for Existing Very Small and Small Businesses in Island Areas under the ‘’JTP 2021-2027 Program (“Go Green Business”)

Program budget: 20.000.000€

Minimum and Maximum Eligible Investment Budget: From 20.000€ to 150.000€

Eligible beneficiaries: Eligible for funding are existing very small and small businesses that will implement investment plans related to eligible activities (NACE codes). An “existing” business is one that has at least two full closed financial years, for which the corresponding tax forms have been submitted

Support intensity: 70% of the investment budget, excluding specific expenses and limits

Main categories of eligible expenses:

• Building facilities
• Site development works
• Machinery and equipment
• Other equipment
• Means of transport
• Service provision expenses
• Indirect expenses (7%)

Regarding the expenses for both Actions, the implementation of expenses for environmental protection and energy savings must account for at least 30% of the total investment. If expenses totaling 30% are not certified, the percentage of public funding will be reduced accordingly to ensure that the 30% quota for the aforementioned expenses is maintained in the eligible budget.

Submission period, application process and project duration

The completion of funded projects must occur within a maximum of 18 months from the date of the electronic notification of the final approval of the funding application. This approval may result either from the evaluation of the application or from the evaluation of a potential appeal.

The funding application must be submitted exclusively via the Integrated State Aid Information System (iSAMIS) at the website https://app.opske.gr/. The application must include all required documentation, as detailed in Appendix III: “Submission/Approval Documentation.” If any fields in the iSAMIS application are incomplete, the application cannot be submitted or proceed to the next phase. The evaluation of investment plans will be carried out based on a comparative assessment.

The electronic submission process for funding applications, following the latest amendment, will begin on May 8, 2025, and the deadline for submitting applications will be July 7, 2025, at 15:00.

For more information on these two programs, other available funding opportunities, or any support related to the planning and implementation of your investment projects, please do not hesitate to contact us at 231 0 552000 or 210 9580000, or via email at [email protected].