Central Macedonia: Tourism and Key Industries to Get Funding for Innovation

Photo source: Thessaloniki Travel

The Region of Central Macedonia recently received 234 investment proposals from small and medium-sized enterprises (SMEs) seeking funding through the new National Strategic Reference Framework (ESPA) program, titled “Transition to Innovative, Internationally-Oriented, and Smart Specialization”.

Among the most active applicants in Central Macedonia are companies within the tourism sector, particularly in the “Hotels and Similar Accommodations” category, both in terms of application volume and budget size.

This ESPA program, with a total budget of 62.2 million euros — 27.98 million of which is allocated from Greece’s national budget — aims to support SMEs across priority sectors defined in Greece’s National Strategy for Smart Specialization. These sectors include tourism, culture, environment and circular economy, sustainable energy, biosciences, digital technologies, and more.

Each approved investment plan will receive funding of between 60,000 and 400,000 euros, with a subsidy covering 45 percent of the project’s total cost.

Governor: We support thousands of businesses in Central Macedonia 

Central Macedonia Governor Apostolos Tzitzokostas. Photo source: Central Macedonia Region

According to Central Macedonia Governor Apostolos Tzitzikostas, the regional authority has, to date, leveraged EU resources to support thousands of businesses, secure tens of thousands of jobs, and create new employment opportunities, with ongoing programs for modernization and growth.

Tzitzikostas also noted the strong response from local businesses to the ESPA program, with 234 applications submitted from across Central Macedonia. The proposals will be evaluated shortly, allowing successful projects to commence soon, said Tzitzikostas, who also serves as Greece’s new European Union Commissioner responsible for Sustainable Transport and Tourism.

High-interest sectors and investment plans

Photo source: Thessaloniki Travel

The Central Macedonia regional authority reported that the sectors generating the highest number of investment applications include “Alternative Processing and Preservation of Fruits and Vegetables”, “Hotels and Similar Accommodations”, “Bakeries and Fresh Dessert Production”, “Electronic Systems Programming”, and “Metal Frame and Component Manufacturing.”

For smart specialization investment plans, sectors with the largest proposed budgets include the Agrofood chain, Construction Materials and Industry, Environment and Circular Economy, Tourism and Creative Industries, and Digital Technologies. Sectors with smaller budgets include Biotechnology-Health and Pharmaceuticals, Transport-Supply Chain, and Sustainable Energy.

Of the 234 applications, 113 — or 48 percent — were submitted by very small businesses with fewer than ten employees. Small businesses with 10 to 50 employees accounted for 84 applications, or 36 percent, while medium-sized businesses with 50 to 250 employees submitted 37 applications, or 16 percent of the total.

Approved funding will cover expenses related to building improvements, machinery and production equipment, environmental and energy-saving equipment, electric vehicle purchases, participation in exhibitions, new product development and certification, promotional activities, and hiring of new employees.