20 May 2025

New Initiative for New and Upcoming Businesses in the Macedonia Region with a Total Budget of 60.000.000€

Introduction

Central Macedonia, within the framework of the NSRF 2021-2027, is moving towards a productive and sustainable transformation aimed at recovery from the crisis, strengthening social cohesion, and enhancing its international position. Through the initiative “Innovation & Extroversion Start-Up in Central Macedonia,” funded by the ERDF, the establishment of new, innovative, and extroverted small and medium-sized enterprises is supported, primarily in the sectors of manufacturing and tourism, with the aim of boosting competitiveness, employment, and sustainable entrepreneurship.

Eligible Beneficiaries & Participation Requirements

The beneficiaries must be New or Newly Established, very small, small, or medium-sized enterprises (SMEs), as defined by the European Commission and relevant legislation, and must operate or intend to operate exclusively within the region of Central Macedonia.

  • Newly established businesses are those that will be founded after the electronic submission of the funding application
  • New businesses are those that have been established with a start date later than January 1, 2023

Basic Participation Terms

  • The proposed investment plan must involve at least one of the eligible NACE codes, under which the beneficiaries must have been active no later than the submission of the first payment request for the grant (including the advance payment)
  • The business must operate or intend to operate exclusively under one of the following forms: Individual Business, Limited Partnership (L.P.), General Partnership (G.P.), Private Limited Company (P.L.C.), Limited Liability Partnership (L.L.P.), Corporation (S.A.), Private Capital Company (P.C.C.), Urban Cooperative, Urban Profit-making Company, Non-Profit Legal Entity, Social Cooperative Enterprise, Social Cooperative Company, Agricultural Cooperative, Branch of a Foreign Company
  • The business must have sufficient capital to cover at least 25% of the total investment expenses
  • A land use certificate must be submitted for the declared location(s) of the investment, proving that the establishment of the investment’s activities is feasible

Specific Requirements

In the case of individual businesses, the investment implementation site cannot be the beneficiary’s place of residence (main or secondary).

In the case of new enterprises

  • They must be registered in the Beneficial Ownership Registry, if this registration is required by law
  • The investment project must not have been completed or fully implemented before the submission of the funding application. In other words, the investment should still be in progress or planned at the time of application
  • The business must not be under bankruptcy, liquidation, or compulsory administration. Additionally, no creditors of the business should have filed a request for restructuring or financial recovery
  • There must be no pending recovery orders for any financial aid or grants previously received by the business.

For investment projects in the tourism sector (NACE Code 55), the projects must meet specific conditions upon their completion. For primary hotel accommodations, a classification of at least three stars and a minimum of 8 beds is required, while for non-primary accommodations, at least 3 tourist residences or 10 beds for rental rooms are required.

It is important to note that businesses operating in non-eligible NACE codes, as well as in sectors such as fishing, aquaculture, and agriculture, which are not eligible for support, can participate only if there is a clear distinction between the activities and accounts within the business.

Project Budget, Funding Amount, and Aid Intensity

The eligible budget for each investment plan ranges from 25.000€ to 500.000€.

Investment plans with a budget lower than 25.000€ are not eligible and cannot be submitted. If the investment plan exceeds 500.000€, the additional amount is considered as private participation.

The public expenditure covers 50% of the eligible budget, while the remaining amount is covered by private participation, which may be financed through own funds or bank loans.

The loans may be either bank loans or bond loans and are supported by the financial tools of the NSRF. The combination of grants and NSRF financial tools cannot exceed the total amount of the expenditure, and state aid rules must be adhered to. The loan may be in foreign currency.

Upon submission of the application, the potential beneficiary must submit proof of available funds to demonstrate that it is possible to cover at least 25% of the total amount of the investment plan. When certifying the physical and financial implementation of the investment, the private contribution is proven by the settlement of the expense receipts.

Basic Categories of Eligible Expenses

The start date for the eligibility of expenses is defined by the publication date of the Action’s invitation, which is May 6, 2025. Expenses incurred or contracted before this date, even if not yet invoiced, will not be eligible for funding.

In order for the expenses to be eligible, the investment plan and its related expenses must be connected to at least one of the eligible NACE codes listed in the invitation. Below is the table with the eligible categories of expenses:

Evaluation Factors

The evaluation process for funding applications is based on specific factors that aim to highlight investment plans with strong growth potential. The evaluation is comparative, combining both qualitative and quantitative aspects, as outlined below:

  • Factor 1 – Financial Capacity: The assessment focuses on the proportion of available equity capital of the business in relation to the total investment budget.

Maximum Score: 30 points.

  • Factor 2 – Professional Experience: The professional experience of the partner/shareholder with the largest stake in the business is considered.

Maximum Score: 30 points.

  • Factor 3 – Educational Background: The educational qualifications (degree, master’s, doctoral) of the primary partner/shareholder are taken into account.

Maximum Score: 30 points.

  • Factor 4 – Availability of Installation Space: The existence of legal documentation proving the availability of the installation space for the investment (e.g., ownership titles, lease agreements, preliminary contracts) is evaluated.

Maximum Score: 10 points.

To be eligible, a proposal must achieve a minimum total score of 50 points.

Submission Period, Submission Method, and Duration of Implementation of Investment Plans

The submission of funding applications and candidate files begins on May 20, 2025, and ends on August 11, 2025, at 15:00.

The support application must be submitted exclusively online via the integrated Information System for State Aid (iSAMIS). Only one application per Tax Identification Number (TIN) and one participation per investment entity in a proposal for a newly established business is allowed. Failure to meet these conditions will result in the rejection of all related applications.

New businesses should submit their applications in the integrated Information System for State Aid (iSAMIS) system using their own TaxisNet codes and designate a Coordinator. For businesses under establishment, the application is entered by the Coordinator, who also creates their registration in the system.

The evaluation process is comparative and includes administrative checks, scoring, determination of eligible budget, and public funding.

The implementation of the project must be completed within 24 months from the date of approval of the application.

For further details on this specific program, 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 2310 552 000 or 210 958 0000, or via email at [email protected].