Eurobank and Corallia just announced the start of the 6th consecutive cycle of egg – enter•grow•go, the programme they designed and have been implementing since 2013, which is the most recognised youth entrepreneurship programme in Greece.
The 6th cycle of egg is launching in a new package of financing options for new businesses to carry out their business plans. It also introduces new criteria and improved quality traits for the inclusion of business teams in the programme, in line with the standards that apply in the most modern ecosystems internationally.
The Deputy CEO at Eurobank, Mr Stavros Ioannou, noted, “Supporting youth entrepreneurship is a timeless priority and a strategic choice. We ought to create the conditions that will reverse the brain drain, create incentives for the thousands of talented people that have left Greece during the crisis to return, and at the same time enable young entrepreneurs to play a vital role in the economic development process. Recognizing that financing is one of the key factors that can keep ambitious and capable young entrepreneurs in the country, Eurobank, in partnership with Corallia, has designed a comprehensive financing programme, which will keep expanding as the situation with the Greek economy is stabilising. Now is the chance to provide substantial support to youth entrepreneurship, not only through organised programmes such as egg, but also as an investment of the wider business community to the future.”
The General Director at Corallia, Professor Vasileios Makios, stated, “For the sixth consecutive year, egg is continuing to support innovative ideas so that they may flourish and become viable businesses. This initiative – which we jointly envisioned along with our outstanding partners at Eurobank and which is being implemented thanks to their solid support in all areas – has currently become an established business school in our country. This year, we raise the bar even higher, attempting quality improvements in terms of benefits, services and networking opportunities in Greece and abroad for young businesses. Corallia, as a unit of the Athena Research Centre, has been strongly supporting 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 turning the Greek growth model towards innovative activities that create added value and employment.”
Dr Nikolaos Vogiatzis Chief Development and Operations Officer at Corallia, unveiled the quality improvements included in the 6th cycle of egg, while Ms Roula Bachtalia, egg Programme Manager, presented the achievements of the five previous cycles of egg, as well as the extroversion programme of the ecosystem.
Keeping a close eye on the needs being shaped in the Greek market, through the 6th cycle, young entrepreneurs will have the chance to make the most of new financing channels. Meanwhile, based on the experience of the previous cycles and the international model, the quality traits of the programme will be further improved.
1. The comprehensive package of financing options includes:
- Financing under the European EaSI programme, in partnership with AFI (Action Finance Initiative), at the incubation stages of the Programme.
- Working capital and long-term loans.
- Eurobank intends to participate in 2 funds of EquiFund, the investment platform that invests in startups and operates under the auspices of the European Investment Fund (EIF). The 2 funds will be used to financially support
a) business teams with innovative ideas (Beyond Hackathon & egg) that are just starting off
b) companies created in universities and research centres. - As of next May, young businesses will be able to search for funding through the Equity Crowd Funding Portal of Eurobank Equities.
- Business teams will be further supported through the cash awards offered by Eurobank.
2. In the context of the improvements included in the Call for proposals for the 6th cycle, the age that a company must have to participate in the programme is extended to three (3) years from two (2). At the same time the maximum number of people per participation (business team) is increased to six (6) from four (4) that applied in the previous cycles.
3. The extroversion programme for young businesses participating in egg, as well as actions that aim to link them to the real economy, are further strengthened with a series of initiatives, in cooperation with recognised domestic and international organisations.
Proposals from all economy sectors that fulfil the requirements can be submitted in the 6th cycle of egg. 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 that can be applied extensively in everyday life (e.g. ICT, Biotechnology, IoT) and/or contribute to the extroversion and growth of the Greek economy (e.g. Innovative Tourism Applications) are particularly encouraged. People aged between 18 and 49 who wish to turn their innovative business idea into a successful business can submit their proposal under the 6th cycle of egg – enter•grow•go, which will run for 12 months.
Applications for participation in the Programme may be submitted by 23/04/2018, at 15:00.
Interested parties may search for further information on the new egg – enter•grow•go website.