Greek Economy minister presents funding tools to support innovation, SMEs

7 December 2015
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Greek Economy Minister George Stathakis on Monday presented the funding sources which the government planned to use for the return of the economy towards innovation and export business activity.

Addressing an Equity Investment Forum in Athens, Stathakis said that “in comparison with the past, the government’s strategy in dealing with innovation and its contribution to export activity of Greek businesses is very different”.

The Greek minister presented the funding tools to be used:

-a community funding programme (2014-2020). “We have achieved more funds while the programme will be more friendly to enterprises,” Stathakis said.

-transforming ETEAN into an umbrella organization to mobilize tools from other European programmes to fund small- and medium-sized enterprises and innovation. “The necessity of such an institution has been agreed with the European Investment Bank and the European Commission,” the minister said.

-the Institute for Growth (IfG), a fund created by Greece, France and Germany and scheduled to begin operations in June 2016.

-a supportive development fund focusing on research and technology. “There will be state money but private capital as well along with funding through European mechanisms,” Stathakis noted, adding that a new development law will be structured very differently, focusing on priority innovative investments, small- and very-small businesses.

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