Recovery fund


The aim of the action is to accelerate the industrial transition through the digitalisation of business and production functions to increase the competitiveness of enterprises and create a resilient industry.

Funding Key Points

Date of opening/closing of applications

23 November 2022 – 23 January 2023 at 17:00.

Content of the Investment Plan

The investment plan must be compatible with the Industry 4.0 model and meet at least one of the following objectives:

  • Artificial intelligence and Big Data analysis/management for the benefit of the production process
  • Smart Manufacturing Technologies, such as Machine to Machine (M2M) learning, Manufacturing Execution Systems (MES), Supervisory Control and Data Acquisition Systems (SCADA), etc.
  • Robotics, to upgrade and automate existing production lines with mechanical equipment and digital technologies such as sensors, automation, robotics and remote use of production equipment


  • Eligible for aid are existing and new enterprises that use an open or double-entry bookkeeping system (keeping category B or C books), which must have been established before the date of publication of the call for proposals (i.e. 28/9/2022). Specifically: 
  • Existing enterprises are enterprises that have completed two or more financial years by 31/12/2021. 
  • New businesses are businesses that have not completed two financial years by 31/12/2021 
  • Eligible are enterprises that have one of the following legal forms: SAs, LLCs, General Partnerships, Limited Partnerships, Private Companies, and sole proprietorships.


The subsidised budget of each investment proposal may not be less than €250,000 and may not exceed €6,000,000

Underlying investment projects

The sector of economic activity is:

  • The manufacturing sector.

Eligible expenditure

  • Mechanical equipment – Up to 100% of the subsidised budget
  • Expenditure on buildings – Up to 20% of the subsidised budget
  • Special Building Facilities (for facilities that will contribute to digital transformation) – Up to 40% of the Subsidised Budget
  • Laboratory Equipment Expenditure – Up to 30% of the subsidised Budget
  • Expenditure on software and IT equipment – Up to 20% of the subsidised budget
  • Costs of Consultancy Services – Studies for the adaptation of the company to the requirements of Industry 4.0 – Up to 10% of the subsidised Budget. The provision of monitoring and administration services for the investment project is up to €2,500.00, 
  • Workforce training (upskilling and reskilling) directly related to the investment project – Up to 10% of the subsidised Budget

The starting date for the eligibility of expenditure of the investment proposal is the date of submission of the subsidy application.

Other information

Subsidy rates

The maximum rate of aid per beneficiary undertaking may not exceed the aid intensity limits laid down in the Regional Aid Map

The Central, Northern and Southern Sectors of Athens are excluded from the aid.

Undertaking size Expenditure under article 14 Expenditure under article 18 and 31
North Aegean Sea 70% 75% 50%
Crete 60% 70% 50%
Eastern Macedonia-Thrace 60% 70% 50%
Central Macedonia 60% 70% 50%
Western Macedonia 60% 70% 50%
Epirus 60% 70% 50%
Thessaly 60% 70% 50%
Ionian Islands 50% 60% 50%
Western Greece 60% 70% 50%
Central Greece 50% 60% 50%
Evritania 50% 60% 50%
Peloponnese: Municipality of Megalopolis, Gortynia, Tripoli, Oichalia 60% 70% 50%
Peloponnese: Other municipalities 50% 60% 50%
South Aegean 50% 60% 50%
East Attica / West Attica / Piraeus and islands 35% 45% 50%
Western sector of Athens 25% 35% 50%


Funding structure

The beneficiary’s equity contribution is the difference between the eligible budget and the public aid. The investor must have at least 25% of the required private participation in the proposed investment project, which in any case will not constitute State aid. 

Implementation time schedule

The duration of implementation of approved projects is set at twenty-four (24) months from the date of signature of the company’s inclusion decision, while at least 30% of the expenditure of the approved subsidised budget must have been incurred and have been subjected to verification in the first year of implementation

Book an Appointment and get information about the development of your business

For your convenience, please fill out the form and we will contact you for the appointment.