By Vangelis Dourakis

The special electronic platform “opens” next Thursday, December 19, through which thousands of unemployed people will have the opportunity to claim hot State money to “set up” their own business. The amount they will secure is 17,000 euros and they will collect it in three installments. One of the conditions is the preparation of a plan by the interested party, which will be considered to allow the viability of the project.

Based on the relevant information – and as mentioned above – from Thursday applications will begin to be submitted for this DYPA program, which aims to strengthen the entrepreneurship of the unemployed aged 30 to 59, giving them the opportunity to start their own business.

How is the €17,000 paid?

Those interested should submit a funding application, accompanied by a business plan proposal. The program will provide financial support of 17,000 euros to the beneficiaries, so that they can start their own business, while the duration of the grant will be 12 months.

This action is expected to benefit 5,800 unemployed beneficiaries who are registered in the DYPA register and do not participate in education, work or training.

The amount will be paid in three installments, as follows:​

– 1st installment of 5,000 euros, after the start of business activity
– 2nd installment of 6,000 euros, after the end of the first semester from the start
– 3rd installment of 6,000 euros, after the end of the second semester from the start of the business.

Who is eligible to apply for funding?

Those interested, before submitting the online application for funding in the context of the action, should meet the following conditions in total:

– To be unemployed registered in the register of the Ministry of the Interior.
– To have completed the personalized approach process and agreed on an individual action plan and thereafter
– To be Greek citizens or citizens of another EU state or expatriates who have the right to reside and work in our country or citizens of third countries who have a valid residence permit at least for the duration of the program.
– Male candidates must have fulfilled or been legally released from their military obligations
– To operate their businesses legally within the Greek territory.

What type of company should be formed?

Potential beneficiaries submit a single funding application and join the action either as individual entrepreneurs or as members of legal entities, with one of the following legal forms:

– Limited Liability Company (LLC)
– Limited Partnership (LP) for its general partner
– Limited Liability Company (LLC)
– Private Equity Company (IKE)
– Workers’ cooperative of article 24 of Chapter E’ of the law. 4430/2016 (A’ 205).
– Individual businesses that will join the program must have been created by former unemployed people.

The funding application, which includes the business plan, will be submitted electronically through the State Aid Information System of the Ministry of Development and Investments (www.ependyseis.gr).

Afterwards, the application evaluation process will follow, which will be carried out through the same system, under the responsibility of DYPA.
After evaluation, a list of eligible applications will be drawn up.

The program has a total budget of 100,000,000 euros and is co-financed by the Greek State and the EU.