250 million euros readily available to finance startup companies

The government “bets” on the activation of “smart” money in order to strengthen entrepreneurship and especially that of startup entrepreneurship, which in recent years shows that it has future and  it can attract capitals.

In this context, according to sources attached to the Deputy Minister of Development and Investments, Yiannis Tsakiris, the financial instruments that are currently to be “exploited” and that are linked to the NSRF amount up to the total amount of 250 million euros and are addressed entirely to startups.

These funds are linked to the initial investments that a startup company needs, and can reach one or two additional levels of funding.

It is worth mentioning that these funds are not “locked”, but can raise, depending on the conditions and data of each time, further funding from a “pool” that reaches 2 billion euros and are always linked to the NSRF.

The government’s goal is to strengthen the culture of entrepreneurship, both by potential startuppers, as well as by those who wish to invest, but also to manage these funding.

So after the “generation” of managers that emerged together, the Jeremy and Equity funds the government “sees” another new “generation” of managers who will link their professional course from now on with the new funds that will be created and which are already in the process of being evaluated. In the near future, therefore, the creation of at least 4 new investment funds is expected, while it is worth noting that there are schemes that come with the aim of taking advantage of the favorable – tax – regulations provided by the government e.g. to angel investors.

The next day for Equity Funds

The government evaluates positively the course of the Equity Funds, recognizing, however, that there are some “grey” areas, such as the tax residence of some, which it wants to correct. Thus, today, equity funds are in the process of finding new funds having as a “dowry” their course in the previous period in which they were strengthened with funds from the IEF.

And if Equity Funds seem to get a grade “above” the “base”, the same does not apply to Jeremy Funds that are rated below the “base”.

Finally, the government wants to further strengthen the position of universities in the field of entrepreneurship, as well as all the “players” who have stood by the greek startup scene, which we should forget that they were “born” and “grew up” in the years of crisis.

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