Egg - Enter Grow Go

Call for Proposals 5th Cycle 2017-2018

The deadline for submission of proposals for the 5th cycle of the Program 2017-2018 is on April 10, 2017 at 3:00 pm GMT

The Programme under the title “egg – enter; grow; go” (hereinafter “the Programme” or “the egg Programme” or “the egg”) is organized by the societe anonyme under the name, “Eurobank Ergasias SA” (hereinafter, “Eurobank”) and the Corallia unit of the Private Law Legal Person under the corporate name, “Athena Research and Innovation Center in Information, Communication and Knowledge Technologies” [Athina – Erevnitiko Kentro Kainotomias stis Texnologies tis Pliroforias, ton Epikoinonion kai tis Gnosis] (hereinafter, “Corallia”).

Eurobank (www.eurobank.gr) has many years of experience as regards actions of social corporate responsibility, and continues to undertake new initiatives such as this, the aim of which is boosting youth entrepreneurship. Corallia ( www.corallia.org) is expanding its activities within the framework of innovation “ecosystems” that Corallia has developed, and of the innovation systems that it operates, in order to support youth entrepreneurship.

The Programme is governed by the provisions included in the terms of the present notice and the participation covenant therein, which (participation covenant) must be signed by those who have got through to the grow stage of the Programme. The competition procedure (evaluation procedure) to enter the grow stage of the Programme shall be carried out according to the terms of the present document pursuant to the details here below. Participation in the Programme constitutes a statement evidencing full knowledge and unreserved acceptance of the terms thereof, as well as of the evaluation judgments and decisions made by the competent bodies of the Programme, which (judgments and decisions) bind the participants fully. The participants waive every relative claim to the contrary that they may have.

It is explicitly mentioned that Eurobank and Corallia are entitled, by a unanimous decision of the Programme’s Steering Committee, to unilaterally change the terms of the Programme, and even to cancel the same for a serious reason, as well as to extend or shorten its duration, upon a relevant announcement posted in the specially modified web-page of the Programme (www.theegg.gr), or by any other appropriate means. No claim shall be raised against Eurobank and Corallia, deriving from the aforementioned actions or in relation thereof.

The egg Programme is a Corporate Social Responsibility initiative which aims at boosting innovative youth entrepreneurship and improving employment opportunities for the people of this country [of Greece], in particular young people. It aims at young people who have an original idea that may cover a need or may take an opportunity to enter in a market of a sufficient size, and who have the passion to turn their entrepreneurial “idea” into “practice”.

More specifically, the egg Programme is an integratedincubation, acceleration and co-working programme, providing for one year (this is the total duration of the grow stage [see below this article]) a series of supporting actions and tools that will help the participants develop and accelerate the transformation of their initial business plan, an original idea or an initial prototype, into an integrated and exploitable, from a business point of view, product or service.

The Programme consists, on the one hand, of the competitive part (the enter stage, see here below, as well as article 8 below, in particular) and, on the other hand, of the participation-realization stage, in the strict sense of the term (the grow stage, see here below, as well as article 2 below, in particular). The go stage (see below) follows the typical completion of the Programme and constitutes, in essence, its culmination. More specifically:

• enter (the inclusion stage of the competition): People who have innovative ideas from all fields of the economy may participate in egg. Those interested must submit, in accordance with the provisions of the present notice (see in particular article 9 below), a summary business plan in a standard form (a few pages long), which (plan) will be evaluated, in terms of innovation, prospects and viability, by distinguished experts in evaluating innovative business plans, in seed-capital financing, and who have a business perception and understanding on start-ups. The business teams whose business plan is evaluated positively at this stage, pursuant to the terms of the present notice, shall advance to the grow stage.

• Grow (the stage when the “idea” is transformed into an original product or service): the business teams that have got through to this stage will initially be supported in terms of advice, in order to create (within three (3) months at most from the completion of the evaluation procedure and the announcement of those business teams that got through to the grow stage) the company-agent that will implement their business plan (if not done already and in order for their further participation in the grow stage of the Programme to be possible), while at the same time they shall be provided with a series of actions of preparation in order to further improve/complete their business plans and for them to be better prepared, by means of skills that will be useful for the realization of their business plans. Then, for a period of nine (9) months (the duration of the grow stage stricto sensu), they will enjoy the full range of the Programme’s services, and will have the chance to focus intensively on the development of their idea/business, by taking advantage of the infrastructure and the supporting services offered by the Programme (see in particular article 2 below), to seek cooperation and synergies with the other participants as members of a development “ecosystem”, and to experience doing business, thus confirming in practice the dynamics and the value of their business plan.

• Go (the business leap stage): participation in the Programme concludes with the aim that all the participating enterprises in the stricto sensu grow stage will have succeeded in developing their business plans, so that they will be ready in every aspect to realize their business “leap”: to capitalize on the value of their idea by means of their own resources or through leveraging investment or other funds, and/or by entering as members into more “mature” innovation ecosystems (for instance clusters). It is specifically noted that in such effort, the participating enterprises of the sectors (1) Financial Technologies and Applications - (FinTech), (2) Technologies and Applications for Informatics and Communications (including technologies and applications for Health –Bioinformatics -Biotechnology, Internet of Things-IoT etc.), and (3) Innovative Applications for Tourism- Hospitality- Catering will have the opportunity to cooperate further with the organizers of the Programme, Eurobank and Corallia, as well as institutions/partners of the Programme.

The main benefits of the egg Programme to those who succeed in the competition stage, pursuant to the special provisions of the present document, are the following:

• Building Infrastructure , with fully functional and well-equipped offices located at 190, Syngrou Av., Kallithea, where the new entrepreneurs shall locate their offices and remain throughout their participation in the grow stage of the Programme. The Infrastructure is easily accessible by means of public transportation, provides modern building and technological infrastructure, a possibility for future extensions, and suitable premises for the provision of advisory guidance, support services and business training. More specifically, the Building Infrastructure provides the following:

1. Office space for young entrepreneurs (either in order for the company that will be established to have a seat and begin its operation, or as a subsidiary or as a branch of their company for the purposes of materializing the Programme). To those participating in the grow stage of the Programme, the following will be provided: fully furnished offices with one (1) to up to four (4) workstations for each participating enterprise, a high speed internet connection (wired and wireless), office software licenses, web-hosting and shared printing/photocopying/scanning equipment.

2. Co-working spaces that promote the exchange of ideas, complementarity and cooperation in order to achieve economies of scale and joint initiatives. The participants in the grow stage of the Programme, shall have access to the following: meeting rooms, training and discussion rooms (brainstorming) and entertainment areas.

  Mentoring provided by distinguished and renowned persons from various sectors of the economy and science, who will provide consulting services and guidance in business development to each participating business team. These are distinguished professionals with expertise and a business background, having a willingness to embrace and support young entrepreneurs; they will meet regularly with the participants in order to discuss progress in materializing the business plan, to advise, guide, encourage, and suggest solutions to the challenges that young entrepreneurs face.

  “one-stop-shop” Support Services for all the crucial issues that relate to the running of a business and to supporting each participating business team commencing the grow stage of the Programme, and more specifically:

1. Accounting and corporate management services.

2. Human resources management services.

3. Corporate identity and communication services.

4. Intellectual property protection services and legal support

5. IT technical support services and communications.

  Business Training in issues that are crucial for successful business operation through a predetermined intensive training programme (“business bootcamp”), which will have a practical rather than a theoretical character, as well as other lectures on specialized issues throughout the duration of the grow stage of the Programme. The intensive training programme will be completed within three (3) months, and will cover the following seven (7) crucial issues concerning the development and sustainability of a new business:

1. Lean Start-up Management (Lean Start-up Principles, Agile methodology, Project Management)

2. Business Strategy (Business Model Canvas, Business Planning, Product Development, Crisis Management)

3. Marketing Strategy (Market Research, Marketing Planning & Corporate Communications, Customer Development, New Digital Marketing)

4. Communications Strategy (Effective presentation, Public Relations Management)

5. IP Management (Patents, Copyright & Intellectual Property Law)

6. Financial & Funding Management (Financial Planning, Funding Capabilities & Opportunities, Funding & Investment Tools)

7. People Management (Human Resource Management, Talent Acquisition & Retention).

 Financial tools and business networking to support business operations, and the development of new teams, to enhance their economic viability during the “hatching” stages within the framework of the Programme. The aim is to provide the best possible framework so that young entrepreneurs may devote themselves to the materialization of their business plan in the first crucial stage of their development, and to make the most of the other benefits of the Programme and, in particular, those requiring the physical presence of the entrepreneurs. Indicatively, the teams will be supported through the following:

1. Financial consultation services and services concerning the seeking of products and funding programmes, provided by qualified officers of the Programme who have the knowledge and expertise on the subject, in order to meet all expenses obligations deriving from the operation of the business, as well as expenses relating to the materialization of the development part of the business plan submitted by the participating enterprises.

2. Support and networking of the groups with potential customers / strategic partners (B2B match-making) for products and services that will develop during the grow stage of the Programme.

3. A system of financial rewards for those business teams with the best performance on the basis of predefined indicators (KPIs) at specific times during the materialization of the Programme.

4. A special financial-economic programme in order to cover potential needs regarding pre-seed/seed financing, both on working capital and on investments in fixed assets, with favorable terms.

Within the framework of the present notice, there is no limitation as regards the sectors/fields of activity, provided that the business plan that is submitted meets the required criteria of business innovation, excellence and viability within the context of the Greek as well as international market. Those business plans that keep up with the current and emerging business tendencies of the economy at a national and international level (for instance, Financial Technologies and Applications), that make wide use of innovations and new technologies, and find considerable application in everyday life (for instance, Technologies and Applications for IT and Communications – Biotechnology, IoT), and/or contribute to the openness and development of the Greek economy (for instance, Innovative Tourism Applications), are particularly encouraged.

When applying to the Programme, the interested persons are requested to declare the sector/field that most fits to their business plan, in order to facilitate and program the evaluation procedure, as follows:

 Emerging Financial Technologies and Applications (FinTech)
• Emerging Technologies and Internet of Things Applications (IoT)
• Creative and Cultural Industry, Interactive Entertainment, and Gaming
• Applications on Earth Observation and Geomatics, Space Technologies
• Applications on Cloud and Data Management (Big Data)
• Applications and Technologies on Telecommunication, Advanced Electronic Devices
• E-Business, New Social Networking Services
• Innovative Applications on Tourism, Hospitality and Catering
• Innovative Medical Applications, Biotechnology, New Pharmaceutical Products
• Social Entrepreneurship
• New and Open Educational and Research Platforms, New Methods for the Creation of Knowledge
• New Energy Technologies and Renewable Energy Sources
• New Methods for the Organization of Wholesale and Retail Trade
• Environmental Technologies and Applications, Modern Waste Management
• Advanced Building Products, Viable Constructions, New Methods of Real Estate Management
• Advanced Materials, New Chemical Products, Nanotechnology
• Modern Methods for the Handling and Storage of Goods, Transportations, Logistics
• Modern and Alternative Forms of Producing and Processing of Food and Drinks
• Technologies and Alternative Forms of Agriculture, Aquaculture, Livestock
• Technologies and Applications for Security and Cybersecurity
• Other (as defined by the applicant)

The evaluation criteria of the business plans that are submitted are simple, transparent and they have a business logic behind them. More specifically, each business plan will be evaluated in accordance to whether, and to the extent that:

• It is based on an original/innovative idea that gives a solution to a genuine need and/or is an opportunity to enter a local or international market  of a sufficient size.
• The persons who will materialize the business plan have the necessary skills, knowledge and abilities, as well as the required profile for the  successful materialization of the plan.
• A reasonable and realistic preliminary action plan is in place, which must be materialized within nine and up to eighteen (9-18) months, in order  to establish the feasibility and/or the value of the business plan (proof of concept/proof of value).

The following bodies have been established for the unobstructed management and the smooth operation of the Programme:

• Steering Committee : a (6)six-member committee that is responsible for the supervision of all issues that relate to the planning, organization, materialization, control, monitoring and evaluation of the Programme, including the notice of the Programme, as well as anything else specified in the terms of the present document. Its responsibilities include, among other things, checking, with the assistance of the Secretariat of the Programme as per below, the submitted applications of those wishing to participate in the Programme, from a formal point of view, as well as the approval or rejection thereof, on formal grounds.

The Steering Committee is constituted by the following persons:

1. Martha Kesisoglou, Marketing Manager, Wholesale Banking, CSR & Public Relations, Eurobank

2. Vassileios Makios, General Director, Corallia

3. Jorge-A. Sanchez-P., Chief Strategy and Financial Officer, Corallia.

4. Sotirios Syrmakezis, General Manager, & Group Chief Digital and Technology Officer, Eurobank

5. Michalis Vlastarakis, General Manager Group Marketing, Corporate Communication & Client Relations, Eurobank

6. Nikolaos Vogiatzis, Chief Development and Operations Officer, Corallia

Any replacement of a member(s) of the Steering Committee will be announced on the web-site of the Programme, at www.theegg.gr.

The Steering Committee is convened following an invitation by any of its members, and is in quorum when all six (6) members are present, and can decide on simple majority of the present members, unless otherwise defined in the present terms. The Steering Committee can also hold meetings by means of a teleconference.

The Steering Committee and the Programme, in general, are supported by the Secretariat of the Programme that is appointed by Eurobank, with the agreement of Corallia. The Secretariat of the Programme provides administrative support to the Steering Committee and to the actions of any nature undertaken within the context of the Programme, and constitutes the point of contact and communication of the interested persons with egg (the contacts details are stated in the web-page of the Programme, www.theegg.gr); the Secretariat is, among other things, responsible for the keeping of minutes of the relevant meetings.

• Advisory Board : It is a committee that is made up of figures from the fields of science and entrepreneurship, who have the following competencies: (i) provision of guidance at the planning and/or materialization stages of the Programme, with the aim to improve the sought targets and to ensure the Programme’s viability, and (ii) evaluation of the main targets, achievements and results of the Programme, as well as suggesting possible corrective actions.

The Advisory Board is appointed by the Steering Committee, and is made up of the following persons:

1. Michalis Bletsas, IT Director, ΜΙΤ Media Lab

2. Georgios David, BoD President of Coca-Cola HBC A.G.

3. Georgios Doukidis, Professor at the Athens University of Economic and Business, Director of ELTRUN Laboratory

4. Nikolaos Ebeoglou, BoD President of ΑLBA Graduate Business School

5. Marina Hatsopoulos, Business Angel, AB Member at MIT Technological Innovation Center

6. Stavros Ioannou, Deputy Chief Executive Officer, Eurobank

7. Nelli Katsou, BoD Vice-President, Pharmathen S.A.

8. Rafail Moisis, B’ Deputy President of IOBE [Foundation for Economic & Industrial Research]

9. Efthymios Vidalis, BoD Secretary General-of the SEV-Hellenic Federation of Enterprises and President of the Committee for Sustainable Development of SEV-Hellenic Federation of Enterprises

10. Dimitrios Vlastos, BoD President of Bodossakis Foundation

Any replacement, removal or addition of a member(s) of the Advisory Board will be announced on the web-page of the Programme, at www.theegg.gr

The Advisory Board is convened by invitation of the Steering Committee, shall be in quorum when the majority of the members is present, and can provide an opinion by simple majority of its present members. The Advisory Board may also hold meeting by means of a teleconference. The Advisory Board is supported by the Secretariat of the Programme, which shall also be responsible for the keeping of minutes of the relevant meetings.

•  egg Programme Manager : He/ she is an officer of the Programme who monitors the course and progress of the Programme as a whole, and the participating teams in particular, being in touch and evaluating their overall presence in the Programme. He/ She is the main contact person for the teams with the Programme, and his/her main duty is to solve their problems; he/she manages the relationship with the suppliers, and coordinates the provision of Support Services, supervises the smooth functioning of the Building Infrastructure and the Business Training of the teams, takes care of the integration of all the benefits of the Programme, represents the teams before the Steering Committee and notifies the latter concerning the needs and the course of the Programme. Ms Stavroula Bachtalia is appointed as the egg Programme Manager. Any replacement of the egg Programme Manager will be announced on the web page of the Programme, at www.theegg.gr.

egg Site Manager: He/ she is an officer of the Programme, who secures the smooth functioning of the Building Infrastructure and suggests, when required, changes or improvements thereof, while being the first point of contact for the teams, the main duty of whom is the solution of the teams’ problems at the first level; he/she monitors the teams’ compliance with the terms of participation, and in general, their activities; he/she ensures the materialization of all the actions within the framework of the Building Infrastructure; he/she activates the available internal mechanism with the aim to achieve the optimum benefits of the Programme’s services; he/she plans and proposes modifications of services on the basis of existing needs; he/she systematically informs the egg Programme Manager; he/she represents the teams before the latter, he/she makes suggestion with regards to decision making by the egg Programme Manager or the Steering Committee, and is responsible for the timely promotion of the various requests/information to the egg Programme Manager. Mr Efthymios Georgakopoulos is appointed to be the egg Site Manager. Any replacement of the egg Site Manager will be announced at the web-page of the Programme, at www.theegg.gr.


• Participation in the Programme is governed by the provisions that are included in the terms of the present notice, as well as by the additional terms of the participation covenant to the Programme (hereinafter, “ Participation Covenant”), which must be signed by the participants the business plans of whom will get through, by means of the evaluation procedure, to the grow stage of the Programme. The Participation Covenant will include reasonable terms, in accordance with the principle of good faith, with regards to the expected behavior of the participants in relation to the Building Infrastructure and the other participants, as well as in relation to the individual provision of other benefits of the Programme, as set out in the present document (see in particular article 2 above), specifying the same and the precise way they are provided (indicatively, minimum requirements as regards physical presence at the Building Infrastructure, exploitation of the Supporting Services, participation in Mentoring, monitoring of the Business Training and, in general, a wide exploitation of the infrastructures and benefits of the Programme, progress of the submitted business plan on the basis of specific indexes (KPIs), detailed description of the bodies and other contributors of the Programme etc).

 Whenever there is a reference to participation in the Programme, this will imply participation in any stage of the Programme. The submission of an application for participation in the Programme constitutes a statement evidencing the full knowledge and unreserved acceptance of the terms thereof.

 The right to submit an application for participation in the Programme belongs to separate individuals or groups of individuals (henceforth, without distinction, the Business Team, and each member thereof, the Participant), who have a certain business idea, in accordance with the specific provisions set out in the present document, and who, on the date of the announcement of the present notice, should fulfil the following criteria:

1. They must be 18-49 years old.

2. They must be Greek citizens or European Union citizens or third country citizens who have the right to reside in Greece and to participate legally in the Programme throughout its duration.

3. They are graduates or registered with a higher or highest educational foundation, whether public or private, in this country or abroad.

4. They have not already established or participated in the creation or operation of a national or foreign company of any legal form, in the capacity of a partner/shareholder/lawful representative or member of its management, with regards to the materialization of their proposed business plan, or, if they have, such company has not preexisted for a period of more than two (2) years from the date of notice of the Programme.

All members of the Steering Committee, the Advisory Board, and other officers/employees working for the materialization of the Programme, the employees of Corallia, the employees of Eurobank and its subsidiaries, the natural persons who, as members of Business Teams which got through to, and participated in, the grow stage of the previous cycle of the Programme, as well as legally incompetent individuals, are barred from the procedure of submitting an application to participate in the Programme.

It is clarified that although it is allowed, as per above, for individuals to submit an application, we particularly encourage Business Teams to participate, within which functional relationships have already developed and each member has a role and shares tasks. It is also stressed that housing at the Building Infrastructure and access to the other benefits of the Programme will be granted to a maximum of four (4) persons from each Business Team that has got through, which (persons) will have already been appointed when submitting the application, and which, in other words, will constitute, in essence, the Business Team, as defined here above, since it is in relation to them that it will be decided whether the criteria under 1, 2 and 3 are met. These persons of the Business Team should be the key factors for the realization of the business idea and the operation of the company “carrying” this idea. In exceptional cases when there is a reasonable need, and following a relevant approving decision by the Steering Committee, which, however, may freely and without any explanation reject the relevant requests, it is possible to replace and/or supplement (up to four persons per Business Team) the members of the Business Teams, provided, of course, that the new Participants meet the criteria provided under 1, 2 and 3. Apart from that, a Business Team may have other collaborators, under any capacity and/or collaborators that do not meet the aforementioned criteria for candidacy.

 In order to enhance the submission of business plans which are based on research and innovation, as well as having considerable chances in terms of competition and scaling, particularly in the international markets, it is possible for up to twenty (20) candidates who got through the written assessment stage of the acknowledged competition (current and/or previous) in applied research and innovation entitled, “Greece innovates!” ( www.kainotomeis.gr), if they so wish and have submitted an application in accordance with the other terms of the present document, to participate in the Programme, by getting through directly to Stage C (Step C1) of the evaluation procedure (see Art. 8 below), in which they will equally compete with candidates who have qualified from Stage B’ (see Art. 8 below) in this procedure, as defined in this notice, and according to absolutely the same terms and conditions. It is specified that the applicants who come from the competition entitled "Greece Innovates!" must first, on the one hand, have succeeded in Stage A’ checking of formal requirements for participation and of the completeness of the candidate’s portfolio (see Art. 8 below), and, on the other hand, the number of business plans that will qualify from Stage B’ of the evaluation will not be reduced in any way, but the said applicants must be in addition thereof.

  For each nomination that will qualify upon completion of the enter stage, as specifically described under 8 below, its Business Team will be invited to participate in the stricto sensu grow stage of the Programme by means of a corporate scheme (sole proprietorships are expressly excluded) of any legal status, either already existing, subject to the above criterion, either new, which should be set up within three (3) months from the announcement of the business plans that have got through to the grow stage. It is stressed that there will be counseling support through the relevant supporting services of the Programme, in order for the process of establishment to be completed fast and easily for the new entrepreneurs. The company's headquarters or the seat of any subsidiary or branch of the company should be declared to be the Building Infrastructure of the Programme, where the company or its subsidiary or its branch must also be located, in accordance with the present participation terms of the Programme. It is noted that the establishment of new or the use of an already existing (subject to the aforementioned criterion) legal entity with headquarters abroad is allowed provided that the company’s headquarters are transferred in Greece or a subsidiary or a branch of the above foreign legal entity is established in Greece as it is above determined.

  Along with the formation of the company, the transfer of the seat, or the establishment of a subsidiary or a branch, and in order to allow further participation of the Business Team in the grow stage of the Programme, the Participation Covenant to the Programme must be signed, which, as mentioned above, shall include the agreement on the installation of the company (either its headquarters or its branch or its subsidiary’s seat) in the Building Infrastructure for a total of nine (9) months from the commencement of the stricto sensu grow stage, as announced by the Steering Committee on the web-page of Programme ( www.theegg.gr), against a symbolic total amount of thirty Euros (€30) for every month and for every Business Team, as well as the relevant detailed terms of use of the infrastructure and services of the Programme, in particular the rules of a good and professional conduct that are expected from the Participants. The total amount to be paid by the Business Teams, as per above, will be donated at the end of the program for a public benefit purpose selected by the Business Teams.

  The acceptance and signing of the Participation Covenant by the Business Teams which have got through to the next stage must have been completed within fifteen (15) days at the latest, from the date of announcement of the Business Teams that have got through and are candidate to enter the grow stage . Also, the procedure for the establishment of any new company or for the transfer of the seat or the establishment of a subsidiary or of a branch of any existing company will be completed within three (3) months from the date of announcement of the Business Teams that have got through and are candidates to enter the grow stage . During that time, other actions will, at the same time, take place for the preparation of the teams, mainly through the activation of the mentoring network and the provision of targeted training seminars on key practical concepts aimed at further improving the business plans, as well as preparing/providing the Business Teams with skills that will be useful for the materialization of their business plans during the stricto sensu grow stage.

  It is stressed that in case of an untimely completion, according to the aforementioned, or a delay in signing the Participation Covenant and / or the establishment of the new company / seat transfer / subsidiary or branch establishment and / or in case of non-consistent and non-diligent attendance and participation in the training courses or other preparatory activities by the Business Teams that will be organized and / or indicated by the organizers of the Programme, the Steering Committee may decide that the said Business Teams should not join the stricto sensu grow stage, and, possibly, at the Steering Committee’s free judgment, that they must be replaced by the teams in the final ranking that immediately follow, as such ranking emerged at the enter stage.

  The Building Infrastructure of the Programme can accommodate approximately ninety (90) Participants, thus it is estimated that from the evaluation procedure, as described in Article 8 below, about thirty (30) teams (with an average of three persons per team) will qualify in order to be included in the grow stage of the Programme. The final number of qualifying Business Teams will depend on how many Participants are in each Business Team. Regardless of the final number of Business Teams that qualify as per immediately above, the selection will be made strictly on the basis of the ranking that they have following the rating received during the evaluation procedure, as per the provisions of article 8.

  The Business Teams that have qualified, and which meet the conditions of the present document, will enjoy all the Programme’s benefits as described in this notice, for nine (9) months from the commencement date of the stricto sensu grow stage of the Programme, after which (time) their participation in the Programme shall be completed, and they will undertake to leave the Building Infrastructure, by promptly carrying out, under their own responsibility, the necessary actions in order to complete the transfer of the seat of the company or of the subsidiary or its branch.

 Any unacceptable conduct under the terms of the Participation Covenant, any damage by fault or other kind of behaviour by the Participants which is contrary to the principles of morality and especially to the widely accepted rules of acceptable social and professional conduct, as well as the misuse of the Programme, in general, may cause exclusion from the Programme upon recommendation of the egg Programme Manager and a decision of approval taken by the Steering Committee. In this case, and in any case of the withdrawal of a Business Team from the Programme, the Steering Committee may proceed to the replacement of the Business Team that was excluded or voluntary withdrawn, by the Business Team that immediately follows in the ranking list, as the latter emerged at the enter stage.

  Each Business Team is entitled to submit an application to participate in the Programme only along with a business plan.

  The Business Team is entitled to submit its business plan in order to get support from national or community resources, or to participate in other competition programmes, and this will not limit its participation in the egg Programme.

  The Business Team bears the exclusive responsibility for the applications it submits, as well as for the accuracy and completeness of the details that are declared. Eurobank and Corallia bear no liability in case of a false or an inaccurate application, in the case of silencing crucial details or submitting a business plan with illegal content, in any way, on the part of the Business Teams.

  Any cost for the preparation of the business plans that will be submitted shall be borne exclusively by the Business Teams.

  Each Participant represents and warrants, among other things, that his/her candidacy is submitted lawfully and in accordance with the terms of the Programme, having received the necessary authorizations, consents and / or licenses. Additionally, the Participant declares that he/she holds the lawful rights as regards the business plan that is to be submitted, and by submitting, using, promoting and in any way exploiting the business plan, there is no violation of any intellectual or industrial property rights, trade or industry secrets or any other third party rights, whether natural or legal persons, either in Greece or abroad.

 The Participants bear full and exclusive responsibility to secure or assure any other desired protection of their business plans to be submitted, as well as the rights deriving therefrom. The Participants, by submitting their application for participation in the Programme, declare that they bear the responsibility, releasing therefore the organizers of the Programme from any relevant responsibility.

  All the details that will be submitted by the Participants within the framework of the Programme shall be confidential, unless otherwise provided for the present terms.

  Each Participant explicitly agrees that a brief description of his/her business idea, upon his/her prior approval of the final text, may be presented by the Programme to the general public and be viewed through electronic, print or other media in the context and for the purposes of the Programme and its promotion.

 Participants fully maintain any existing copyright rights and other rights in relation to their business plans and their results, as required by law. In all other respects, Participants undertake to provide Eurobank and Corallia with permission so that they may use and promote the progress and achievements associated with the materialization of their business plan, upon their prior approval as regards the final texts, exclusively for the purposes of the implementation and promotion of the Programme, for a total of five (5) years from the date of their inclusion therein.

  Copies of the portfolios of all the candidacies that have been submitted, along with the submitted business plans, shall be kept by Eurobank and Corallia, for the purpose of keeping records.

  Every announcement in relation to the Programme shall be exclusively posted on the web-page of the Programme ( www.theegg.gr) and shall be valid from the date of its posting; in case of a conflict, such announcement shall prevail over any other provided notification (for instance through an electronic message, letter, etc).

• Eurobank and Corallia notify that they will process personal data of the Participants and, in general, of the web-site users of the Programme in accordance with the terms of this notice, the provisions of L. 2472/1997 on the protection of individuals from the processing of personal data, and of L. 3471/2006 on the protection of personal data and privacy in the field of electronic communications, and the relevant decisions, directives and regulatory deeds of the Data Protection Authority. More specifically, with regards to the Participants, Eurobank and Corallia inform that they will process the personal data provided by them, under the present terms, for the purpose of the proper carrying out, materialization, and promotion of the Programme, and they will store such data throughout the duration of the Programme. All personal data collected will be permanently deleted at the completion of the Programme, except for those for which there are other provisions in this notice.

  Every individual whose data is subject to processing in accordance with the aforementioned provisions, reserves the right to exercise the rights deriving principally from Articles 12 and 13 of L. 2472/1997 (right of access and objection to the processing of personal data, respectively), in which case they should contact the Secretariat of the Programme, at info@theegg.gr

  The recipients of personal data for the purpose of carrying out and promoting the Programme, as set out in this notice, will be employees and collaborators of Eurobank and Corallia, the bodies and in general contributors to the Programme, as well as companies collaborating with Eurobank and Corallia, within the framework of the materialization and promotion of the Programme and the candidates, in particular, advertising companies, companies organizing events, media etc.

  Participation in the Programme constitutes an explicit and unconditional acceptance and consent on the part of the Participants, as regards the keeping and processing of personal data by Eurobank and Corallia, as described above, with the aim of carrying out and materializing the Programme in accordance with the terms of this notice, the provisions of L. 2472/1997 on the protection of individuals against the processing of personal data and L. 3471/2006 on the protection of personal data and privacy in the field of electronic communications, and the relevant decisions, directives and regulatory deeds issued by the Data Protection Authority.

The evaluation procedure for the applications along with the business plans that will be submitted, will take place in three (3) stages:

• Stage A: Checking the formal requirements - completeness of the candidate’s portfolio : After the expiry of the deadline for submitting applications, the submitted applications for participation in the Programme shall be allocated a protocol number by the Secretariat of the Programme, and shall be properly prepared, along with the documentation that is also submitted, in order, then, to be forwarded to the Steering Committee for the carrying-out of the necessary assessment. The Steering Committee shall decide – after carrying out checks as to whether the conditions for participation are met pursuant to these terms, and whether the details that are submitted are proper and adequate – to exclude the applications that do not meet the relevant conditions from any further evaluation procedure.

The Steering Committee will then send a confidential letter to all Participants, whether they have got through to the next stage or not.

  Stage B: Evaluation of the Business Plan – Written stage: The Business Teams that have got through from Stage A’ will be evaluated and marked, at this stage, in accordance with 3 criteria, with regards to whether:

1. The business plan is based on an original / innovative idea that gives a solution to a real need and / or applies to a domestic or international market of a sufficient size.

For the evaluation of this criterion, the relevant fields of the template description of the business plan will be taken into account, that is:

- Excellence and Innovation of the business plan (innovative dimension - originality of the proposed business concept, evidence for the competitive advantage).

- Aim of and Benefits from the business plan (evaluation of specific advantages and impact on an economic and / or social level, evidence as to whether the materialization of the plan can lead to new products or services and / or whether it can constitute an intermediate step concerning the development of other products or services).

- Competition analysis of the business plan (quality of the preliminary study - market research as regards the needs and the estimated market size, determination of the target-customers, and evaluation of the superiority of the business idea over other existing solutions).

- Resources and Viability of the business plan (realistic assessment of the capital / resources needed to materialize the plan, evaluation of the possibility to extent (scale-up) the business plan).

2. The Business Team which will materialize the business plan possesses the necessary skills, knowledge and abilities, as well as the appropriate complimentary profile for the successful implementation of the business plan.

For the evaluation of this criterion the relevant fields of the template of description of the business plan will be taken into account, that is:

- The individual quality features of the individuals who could guarantee the successful implementation of the business plan (assessment of CVs of the team as a whole, in terms of knowledge, skills, experience, expertise and commitment as regards the materialization of the business plan).

- Complementarity of the team (assessing whether the team, as a whole, possesses the required skills, complementarity and balance among its members in order to carry out the successful materialization of the business plan). In the case that the business plan is submitted by an individual Participant, this specific point is not be to taken into account, and will not be marked. Please note, however, that the mark corresponding to this specific sub-criterion cannot be transferred or reduced to the other evaluation sub-criteria .

3. A reasonable and realistic preliminary plan of actions is in place, required to be materialized within nine and up to to eighteen (9-18) months, in order to ascertain whether the business plan is feasible and/or has value (proof of concept / proof of value).

For the evaluation of this criterion the relevant fields of the template of description of the business plan will be taken into account, that is:

- Time schedule of the business plan (assessment of whether the time schedule concerning the main steps for materialization for the first nine to eighteen months (9-18) is realistic and feasible).

- Required resources (financial, human, technological) for the business plan (assessment of the reasonableness and necessity of the resources that are required for the first nine to eighteen (9-18) months).

From the list of evaluators, drawn up under the responsibility of the Steering Committee, two (2) separate evaluators will be appointed per business plan, and they will assess each application on the basis of the three (3) criteria set out above. It is stressed that all three (3) above criteria are of equal importance, and will be marked with an integer number, from a minimum one (1) to a maximum ten (10). The final mark of the business plan will be the arithmetic average of the mark of the two (2) evaluations, which (each assessment mark) will be the average of the marks obtained for each of the three (3) criteria. The necessary condition for the business plan to qualify, at this stage, is to take a minimum overall score of six (6) in the range of one to ten (1-10) as per above. It is noted that in case of a deviation of more than three (3) points in the separate marking of the two evaluators, of whom the mark of one is more than six (6), and the mark of the other less than six (6), there will be a reassessment of the business plan by a third evaluator whose mark will be the final mark of the business plan.

It is explicitly noted that the Steering Committee may undertake any required initiative in order to ensure the smooth completion of the procedure of evaluation of the business plans to be submitted, including the possibility of replacing the evaluators that have an impediment in fulfilling their obligations, by other evaluators, at the Committee’s discretion. It is also explicitly clarified that the Steering Committee will not select as evaluators natural persons associated with the business plan that they are required to assess in any way outside the framework of the Programme.

On the basis of the table of mark and ranking of all business plans, the best sixty (60) of them shall initially get through to the next evaluation stage (unless there is a tie in the last position, in which case this number will increase accordingly), plus those business plans of any candidates coming from the competition entitled, "Greece innovates!" (see Art. 6 above).

The Steering Committee will then send a confidential letter to all the Participants, whether they have got through to the next stage or not.

  Stage C: Evaluation of the Business Plan – Oral Stage (2 steps)

1. Step C1: The persons who qualified from Stage B’, as well as any candidates coming from the competition entitled, "Greece Innovates" as per above, will be invited by letter that will be sent to them by the Steering Committee, to present orally the key points of their business plan before the evaluators as well as the other persons who qualified. The presentation will strictly last five minutes (5') and shall aim at highlighting the key elements of the business plan (innovative idea, people who will implement it, plan of main actions) that the qualified Participants consider that would attract the interest of an investor in order for the latter to invest in their business idea. At this stage there will be no questions from the evaluators, but a presentation of the business plans only. For the scoring of the presentation all three (3) criteria of Stage B will be taken into account, but now there will be only one (1) total mark based on a scale from one to ten (1-10), by each of the evaluators. The final mark will emerge as the average of the evaluators' marks. Then on the basis of these scores, there will emerge a new classification of business plans from which initially forty (40) business plans with the highest scores will get through to the next step (unless there is a tie in the last place, in which case the number will increase accordingly).

2. Step C2: The persons who qualified from Step C1 will be invited by letter which will be sent to them by the Steering Committee, to take into account written comments made by the evaluators in order to improve their business plan, as regards the way to present/promote the latter; clarifications may be requested on details of the business plan, so that the said persons may then appear again before the evaluators (but now without the presence of other persons who qualified from Step C1). This second oral presentation will last for up to ten minutes (10'), it will be in the form of interview with questions asked by the evaluators, and will aim at highlighting the ability to incorporate the feedback and adjustment of the Business Teams that have qualified with regards to the comments made, while other issues of the business plan (perhaps confidential) may be explored in detail through questions and answers if needed . For the scoring of the presentation all three (3) criteria of Stage B will be taken into account, but there will be only one (1) total mark based on a scale from one to ten (1-10), by each of the evaluators. The final mark will emerge as the average of the evaluators' marks. Then on the basis of these scores, there will emerge a new classification of business plans from which about thirty (30) business plans, as per article 6 above, with the highest scores will get through to the grow stage of the Programme, as per the provisions of the present document.

As mentioned above, the final number of the business plans that are to be included will depend on the number of Participants in each Business Team and may be differentiated from the estimated number of thirty (30) provided here above. But in any case, the Business Teams that are candidates for final inclusion in the Programme will be selected strictly on the basis of the scoring that they will have received in the last step of the evaluation procedure, and in no event will they exceed the total number of the teams that have qualified for Step C2.

The submission of an application is made by means of a template form, of 8 pages at most, which will be available on the web-page of the Programme, www.theegg.gr, the predefined sections of which correspond and cover the basic evaluation criteria as they appear under 8 here above.

The Business Teams must submit, electronically, via the Programme’s web-page (www.theegg.gr) by April the 10th, 2017, and 15:00 Greek time at the latest, their application which will consist of the following:

1. The Application form, by filling-in all required fields on the electronic form. It is particularly noted that by filling out the application form and in order for its submission to be allowed, a specific relevant field must be selected, by which the Business Teams should unreservedly accept all the terms of this notice, after first having studied them carefully.

2. The Business Plan, using the template that is available on the Programme website (www.theegg.gr ) during the electronic submission procedure. The size of the submitted business plan should not exceed eight (8) pages in its entirety, including plans, tables and graphs, while it must be written either entirely in the Greek language (with the exception of use of international terms where needed) or entirely in the English language, in font Calibri, size 11, full alignment and 2.5cm margins.

3. A Solemn Declaration (in case of nationals, with the signatures of each declarant being authenticated by a competent Authority) or Declaration of Honour (in case of non-nationals) given by each of the main key persons for the realization of the business plan that has been registered with the electronic entry form, namely the Participants, by which they will declare that they meet the basic requirements of participation in the Programme. Each solemn declaration or declaration of honour will be digitized and incorporated at the end of the business plan file (Appendix), so that it will be possible to submit a comprehensive file on the electronic application form, according to the detailed instructions and the templates made available through the online submission process request to participate in the Programme.

In particular the candidacies that come from the aforementioned qualified candidacies of the competition entitled, “Greece Innovates!” may submit their application to participate in the Programme, according to the provisions here above and to the other terms of the present, electronically, at the Programme’s web-page ( www.theegg.gr) by April the 28th, 2017, 17:00 Greek time at the latest .

The Business Teams that will be eventually selected through the evaluation procedure, as set out in detail in Article 8 here above, must furnish any documentation that may be requested by the competent bodies of the Programme, at their discretion, in order to accurately determine or verify the accuracy of the details declared (indicatively: identity card, passport, residence permit, evidence in relation to the CV, legalizing documentation of any pre-existing company and any other certificate or document provided for by this notice or deemed necessary as the case may be).

It is stressed that, as already mentioned, there will be full advisory support through the relevant Support Services of the Programme in order for the creation and installation procedure of the new company in the Building Infrastructure of the Programme to be materialized .

The Steering Committee will check the relevant documentation, retaining the right to reject an application, for which no or insufficient documentation or other required details were furnished. The Steering Committee reserves the right, throughout the duration of the Programme, to request any additional legalizing element or document it may deem necessary, in the context and for the purposes of carrying out and materializing the Programme, as well as the right to exclude a Business Team from which the requested items were either not delivered or were delivered but were not sufficient.

Information on the time schedule to carry out the Programme and, in particular, the stages of the evaluation process (enter stage) will be displayed on the specially designed Programme web-page ( www.theegg.gr). It is expected that the evaluation procedure will be completed by early June 2017, while the formation of the companies and other preparatory actions must have been completed within three (3) months after the completion of the evaluation procedure and the announcement of the Business Teams which got through to join the grow stage. The commencement of the stricto sensu grow stage of the 5th cycle of the Programme is expected to take place on September 1, 2017.

For more information, news and announcements, please check the web-page of the Programme, at www.theegg.gr.

Download the full text of the call of proposals as published for the 5th cycle 2017-2018.