EmBRACE

Enhancing MSEs sustainaBle gRowth And CompEtitiveness (EmBRACE)

Priority Axis 1: Smart investments in research, innovation and competitive entrepreneurship
Operation start date: 1 March 2024
Operation completion date: 28 February 2029
Budget: EUR 11.764.705,89
Number of partners: 1

Operation purpose and expected achievements:
EmBRACE project is a Small Project Fund (SPF) that plans to offer support to micro and small enterprises (MSEs) in the Programme area and enhance the competitiveness of micro and small sized enterprises (MSEs) in the border regions.
MSEs in all three countries account for the largest significant share of business and total employment, but the ‘starting a business’ category is still one of the lowest rankings as the bureaucratic administration remains a burden. Support will be given to the development and adaptation of business models, products, services and processes, fostering development of local MSEs with strong focus on introducing product or process innovation, developing pilot actions and new business solutions, while simultaneously enhancing their cross- border business cooperation.
The HAMAG-BICRO will allocate a total of EUR 8.725.324,36 in Programme funds to micro and small enterprises through several calls for proposals within the EmBRACE project.

Beneficiaries:

HAMAG-BICRO is Small Project Fund Beneficiary (SPFB) and only partner within the EmBRACE project. As SPFB, HAMAG-BICRO is responsible for the sound and prudent management of the EmBRACE project and selection of the Final Recipients (FR) of the SPF. The FRs of the selected Small Project Applications shall sign a contract with the SPFB. The SPFB operates the online EmBRACE Platform as the official web portal of the SPF. The SPFB is obliged to sound administrative and financial management of the SPF, including submission of the project level progress reports and final report, accompanied by the payment claims to the Joint Secretariat. SPFB’s responsibility is to transfer the grant amounts verified to the FRs (MSEs).

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