The call for proposals is addressed mainly to universities, research centres and institutes and concerns the funding of start-up investments, as well as the creation of spin off companies for the commercial exploitation of research knowledge.

The duration of the project cannot exceed 36 months and the maximum amount granted to a single enterprise is 1 million euro for initial investments and the purchase of infrastructure, for consultancy services and running expenditures such as salaries, rents, travel expenses, etc.

The total budget for the first round of the call (2003-2004) is around 23 million euro, covered by the European Regional Development Fund along with national public and private resources.

The submission of proposals started on the 14th of September and it will continue either until the available funds are exhausted or until 31st of October 2004.

The evaluation criteria of the proposals include a compliance with the definition of a "spin-off" company, the soundness of the business plan, documentary evidence of the link between the main commercial activity of the company and the research results, as well as the financial credulity of the participants.

It is noted that the action PRAXE B is included in Measure 4.1 of the Operational Programme "Competitiveness" for the technology transfer and the commercial exploitation of research results, the creation of new companies and the support of SMEs as well as the promotion of regional development.

The first stage of the action PRAXE has already been completed, through the funding of 210 projects related to the preparation of investment and support towards those interested in creating spin-offs.

More information and documents for the submission of proposals are available on the web site of the General Secretariat for Research and Technology ( http://www.gsrt.gr) or
at the Ministry of Development/GSRT,
Mr. E. Sakellariou, Mrs E. Ketsetzopoulou, Mrs M. Kitsou
(tel.: +30 210 6911122, fax: +30 210 7713810).

Source: General Secretariat for Research and Technology