The 6th cycle of egg - enter•grοw•go launches, a comprehensive package of financing options for new businesses, new criteria and it adopts improved qualitative features for entering the programme, in line with the standards of the most modern ecosystems worldwide.
In his address at the press conference for the launch of the 6th cycle, Eurobank’s Deputy CEO Mr. Stavros Ioannou stated among other things: «Supporting youth entrepreneurship is a timeless priority and a strategic choice. We ought to create the conditions that will, reverse the brain drain phenomenon, create return incentives for the thousands of talented people that have immigrated Greece during the crisis, and at the same time enable young entrepreneurs to play vital role in the process of economic development. Eurobank, recognizing that funding is one of the key factors that can keep ambitious and capable young entrepreneurs in the country, with the collaboration of Corallia, has designed an integrated funding program that will be enriched as the situation in the Greek economy is stabilizing. Now, is the opportunity to provide substantial support to youth entrepreneurship not only through organized programs, such as egg, but also as an investment of the wider business community to the future”.
Corallia General Director, Professor Vassilios Makios noted: «egg continues, for the sixth consecutive year, to provide its support to innovative ideas so that they flourish and develop into viable businesses. This initiative, which we co-envisioned along with our outstanding partners at Eurobank and that is being implemented thanks to their solid support in all areas, has become today an established business school in our country. This year, we raise the bar even higher, going forward with qualitative improvements in terms of benefits, services and interconnection opportunities, offered to young businesses. Corallia, as a unit of the Athena Research Center, strongly supports the interconnection of research with production, through new technologies, for more than 10 years. It will continue to meet the demands of those who dare to innovate, contributing to the turn of the Greek growth model towards innovative activities that create added value and employment.
Dr. Nikolaos Vogiatzis Chief Development & Operations Officer at Corallia presented the qualitative improvements included in the 6th cycle of egg, while Mrs. Roula Bachtalia, Programme Manager at egg, presented the achievements of the five previous cycles of egg as well as the extroversion program of the ecosystem.
Through the 6th cycle young entrepreneurs will have the opportunity to exploit new funding channels having access, at the same time, to a program with improved qualitative features in line with international standards, based on the experience of the previous five cycles.
1. The wide range of financing options includes:
- Funding under the European EASI program and in co-operation with AFI (Action Finance Initiative) at the "hatching" stages within egg.
- Capital and long – term loans.
- Eurobank intends to participate in two funds of EquiFund, the investment platform that invests in start-ups and operates under the auspices of the European Investment Fund (EIF). Through the two funds, business teams with innovative ideas (Beyond Hackathon & egg) and
Companies, "born" in universities and research centers, can be financially supported.
- From May 2018 onwards, young businesses will be able to search for funding through the Equity Crowd Funding Portal of Eurobank Equities.
- Business teams can be further supported through Eurobank’s money awards.
2. In the context of 6th cycle the lifetime that a company must have to participate in the program is extended to three (3) years from two (2). At the same time the maximum number of people per business group is increased to six (6) from four (4) in the previous cycles.
3. The extroversion program for businesses participating in egg, as well as actions that aim to connect them with real economy, are strengthened by a series of actions and initiatives, in cooperation with recognized domestic and international organizations.
Business projects, from all sectors, that fulfil the requirements can be submitted in the new cycle. Projects that, are in line with current and emerging business trends, in Greece and abroad, (e.g. Financial Technologies and Applications), make extensive use of innovation and new technologies and are applied extensively in everyday life (e.g. ICT, Biotechnology) and / or contribute to the extroversion and growth of the Greek economy (e.g. Innovative Tourism Applications) are widely encouraged. Under egg’s 6th cycle – a cycle of 12months total duration - people from 18 to 49 years of age that wish to turn an innovative idea into a successful business can submit their proposal.
Applications for participation in the Program may be submitted until 23.04.2018, at 15.00.
Interested parties can search for further information on the new egg - enter•grοw•go website.