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Innovative agricultural project competition gives 250 thousand euro

28 February 2013 / 22:02:19  GRReporter
3413 reads

Victoria Mindova

While the government is trying to satisfy the lenders by implementing equivocating reforms, the private sector is doing everything possible to maintain and develop new opportunities for economic growth. The proof of this is the new initiative of GAEA in cooperation with Piraeus Bank, which have announced a competition for an innovative project for agricultural activity. The organizers will award the ten best proposals, which will receive 25 thousand euro in free capital.

The budget to fund the young entrepreneurs will be collected from the sale of olive oil specially produced for the occasion on the small island of Antiparos. According to studies, the olive oil from Antiparos is one of the products with the highest content of antioxidants and nutrients. It will be directed solely to the U.S. market. A 500 ml bottle of original ANTIPAROS extra virgin olive oil will sell for $50. The marketing strategy for fundraising is supported by the Greek-American Foundation and popular chef Cat Cora, who is also of Greek origin.

"We will collect the funds for the project by May" the Chief Executive Officer of GAEA Aris Kefalogiannis told GRReporter with confidence. He believes that it is an obligation of the big companies in the country to support and encourage entrepreneurship. It will not only allow people with ideas to realize them but it will also enhance business and competitiveness.

Everyone can submit his or her projects for the development of agriculture by 30 June this year on The applicants should be aged between 18 and 35 years, live in Greece or be Greeks who reside abroad, but want to do business in the country. The ten winners in the final stage will be announced in the middle of November. They will receive preferential funding from Piraeus Bank worth 25 thousand euro, which will increase the initial capital for the entrepreneurs to 50 thousand euro. Not only will the interest rate of the loan to the consumers be low but the conditions for its repayment will be very favourable as well. Young agricultural entrepreneurs will not be pressured by time and they will be able to pay their obligations when there is a return from their produce. "We are encouraging the innovative thinking, ingenuity and creativity of young people. At the same time, we are giving an impetus to exports that distinguish the Greek business community abroad and can contribute to the gradual stabilization of production in the country," said the representative of Piraeus, Christodoulos Andoniadis.

The press conference announcing the initiative was attended by the chairman of the American Agricultural School of Thessaloniki, Panos Kanelis, who will participate in the commission that will evaluate the applying projects. He said that the institution presented by him has embraced the idea with enthusiasm and expects that the interest of young farmers in the investment opportunity will be huge. "There is a new generation of young people who are interested in working with the land, in becoming successful businessmen and manufacturers. We need to support their efforts in any way we can. The Greece of European Union subsidies is over. Now we have to make room for healthy entrepreneurship," said Kanelis in a conversation after the presentation.

Tags: EconomyMarketsCompetitionAgriculture
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