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The Explorer

Business Innovation Greece: €13m available to support Greek businesses grow

Business Innovation Greece, a flagship program under the EEA Grants portfolio, announced the second open call for project proposals under the ICT, ocean economy and green innovation sectors. The total available funding under this call is €13m and the deadline for Greek businesses to submit their proposals is 18 February 2021.

21 October 2020

Business Innovation Greece program is a part of the EEA Financial Mechanism (EEA Grants) 2014-2021 and represents the contribution of Norway, Iceland and Liechtenstein to reducing economic and social disparities and strengthening bilateral relations between 15 EU countries in Central and Southern Europe and the Donor States (Iceland, Liechtenstein, Norway).

What type of projects can be financed?

This program aims to finance projects that will increase the competitiveness and profitability of Greek enterprises and bring more innovation in products, services, and processes in the areas of green industry innovation, blue growth and ICT. 

  1. Green Industry Innovation - “reduce and re-use”

Green Industry Innovation is cross-sectoral by nature, it will offer opportunities for a wide range of enterprises. This could involve the development of new or improved green products and services, investment for a more environmentally friendly production process or a green organisational innovation. This gives the possibility for Greek enterprises to improve their competitiveness through reduced energy, water and oil consumption, better utilisation of raw materials and increased productivity.


The program encourages modernising of the industry, development of innovative solutions related to renewable energy (e.g. on solar, wind and biomass), technologies for energy efficiency and energy storage and water management for the islands. Other specific areas of interest could be innovation and greening of businesses in sectors such as the food industry, textiles, construction and waste management. 


  1. Blue Growth

The long coastline and the large number of islands in Greece have different challenges in different regions but this also represents new business opportunities. This program can support the development of new solutions within the marine and maritime sectors as a whole. 

The program encourages the development and investment in maritime supra-structures, in coastal and maritime tourism, in blue biotechnology and blue energy solutions (not production), in innovative technologies for the water supply, and in solutions for reducing marine litter -particularly plastic debris in the ocean. (Note that for aquaculture and costal fisheries the program can only support innovation (R&D), but not investments).


  1. Information and Communication Technology (ICT)

ICT solutions and tools are horizontal business opportunities with high innovation potential and possible green effect. The program aims to promote the development or application of innovative ICT solutions that will directly contribute to business development. This can include the opportunity for enterprises to develop a new innovative ICT product/ service/ solution (new-to-the-market) or to apply an existing innovative ICT solution that will support future growth (new-to-the-enterprise).


How much money can a Greek enterprise apply for?

Any enterprise can apply for minimum of Euro 200,000 and a maximum of Euro 1,500,000 per project. Small and Medium-sized enterprises can also choose to apply for smaller grants, in the range of minimum Euro 50,000 and maximum Euro 200,000 per project. Note that only one project application can be submitted by each enterprise under each open call. 


More information and details how to apply:

Visit the program website: https://www.innovasjonnorge.no/Greeceinnovation

Contact the program team: GR.innovation@innovationnorway.no