Innovation, Business Development and SMEs

Increased value creation and sustainable growth

The Programme began in 2019 with the goal of promoting value creation and sustainable development in the Greek business sector. After four rounds of open calls for project proposals, 54 projects were chosen to receive financial support. It has fostered and facilitated long-term business collaboration between Iceland, Liechtenstein, and Norway on one side, and Greece on the other, focusing on business development and innovation. 75% of the funding has been allocated to Small and Medium Enterprises (SMEs), with a focus on bilateral partnership projects.

The Programme focused on three main areas, with the funding allocation as follows:
1. Innovation in the Green Energy Industry (40%)
2. Blue Growth (40%)
3. Information and Communication Technologies (20%)

It generally supported business activities in sectors such as:

Innovative technologies, processes, and services
Sustainable business development
Environmental improvement of existing businesses and processes
Development and implementation of innovative products and services

You can explore some of the projects from this Programme on our YouTube channel.

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Programme objective	Increased value creation and sustainable growth
Programme areas	Business Development, Innovation and SMEs
Programme Operator	The Financial Mechanism Office (FMO) in accordance with Article 6.13 of the Regulation
Fund Operator	Innovation Norway in accordance with paragraph 4 of Article 6.13 of the Regulation
National Programme Partner	The Hellenic Fund for Entrepreneurship and Development (ETEAN SA)
Programme Grant	€ 20,500,000