OT at TIF – Dep. Tech Min. Dimas: New financial tools for startups and innovation - Οικονομικός Ταχυδρόμος

The need to connect research and innovation with entrepreneurship was mentioned by the Deputy Minister of Research & Technology, of the Ministry of Development and Investments, Christos Dimas.

Speaking at the OT Forum organized in the context of the 86th TIF, Mr. Dimas, referred in particular to the single action “RESEARCH – CREATE – INNOVATE”, which aims to connect research and innovation with entrepreneurship and strengthen competitiveness, productivity and extroversion of businesses towards international markets

The purpose of this action is to direct and effectively channel the available resources to promote research activities and the implementation of innovations in businesses, and especially in small and medium-sized businesses, through a series of interventions.

Mr. Dimas underlined that this program provides the necessary financial tools, and through special evaluators the appropriate programs are selected to be financed

“Those who get a high score are selected and funded,” he emphasized, adding that the amounts may vary by industry.

Startups

Mr. Dimas made an extensive reference to start-ups, and in particular to Elevate Greece, the initiative of the Greek Government, which aims to map start-ups and support their development, with the ultimate goal of highlighting a strong innovation ecosystem.

The deputy minister underlined that in start ups there are not only young people, but also older people who have fresh and innovative ideas.

He also underlined that the Greek ecosystem shows signs of progress and maturation.

The reference “OT’s one of our own”

Mr. Dimas did not fail to mention one of our own people and his important contribution to the initiatives of Elevate Greece, Kostas Tsaousis, who passed away prematurely last May. And he revealed that he was the man who had a decisive input in the video that has been created for this action.

The deputy minister also underlined that the country’s innovation ecosystem is now mapped and the state is no longer an opponent, but an ally.

Innovation

Referring to the actions to promote innovation, Mr. Dimas underlined the application of the investment angel.

It is noted that with decision 39937/5-4-2021 the terms and conditions for the characterization of a natural person as an “investment angel” in a start-up business or start-ups are determined. The “investment angel” may be entitled to a deduction from his taxable income for capital contributions to start-ups.

It is also the essence of people who invest money in a start-up before it takes the big step, and then share in the profits: “We gave tax incentives to boost innovation,” he said, adding that incentives were also given for stock options.

Implementation rates

Christos Dimas also said that of the proposals submitted, the data they have at their disposal shows a high percentage of implementation and added at the same time that in Elevate Greece there are 620 registered businesses that have been approved.

Funding sources

In addition to the actions being run by the ministry, Mr. Dimas emphasized that there are also alternative sources of financing such as the NSRF, but also the banks, for which he said they have opened the loan taps.

He also underlined that European funds and programs are available, which have a great response to technology companies