The Entrepreneurship Fund (TEPIX) is a blended finance instrument designed to enhance SMEs’ access to finance and address structural market failures in the Greek economy. It combines public and private resources through co-financed (risk-sharing) loans and guarantees schemes blended with interest rate subsidies, effectively de-risking SME lending. TEPIX has evolved across three programming periods (2007–2013, 2014–2020, 2021–2027), adapting to changing policy and economic contexts. It embeds green and digital finance components, supporting SMEs to invest in energy efficiency, circular economy and digital transformation projects.
TEPIX Fund operates as a counter-cyclical and results-oriented mechanism that supports entrepreneurship, job retention and competitiveness, while promoting green, digital and inclusive growth. TEPIX exemplifies a mature financial engineering model that leverages EU, reflows, and national resources efficiently, ensuring transparency, sustainability and high socio-economic impact. It stands as a cornerstone of Greece’s SME support architecture and a replicable example of effective financial instrument design within the EU framework. TEPIX demonstrates strong EU added value by translating Cohesion Policy objectives into tangible results for enterprises and citizens, offering a replicable model for other Member States.
| Competition theme: Growing impact Submitting organisation: Hellenic Development Bank Type of authority: National Development Bank Financial instrument name: Entrepreneurship Fund |
| Country: Greece Funding source: ERDF & ESF+ Type of financial product: Loan and Guarantee Financial size: EUR 2 100 000 000 |
