EU Grants and Sustainable Entrepreneurship: A Pathway to Green Innovation A Comparative Evaluation of EU-Funded Projects Supporting Sustainable Business Practices

The European Union has positioned sustainable entrepreneurship as a strategic pillar in its pursuit of inclusive, green, and resilient economic growth. This thesis investigates the effectiveness of EU-funded projects in advancing sustainable entrepreneurship through a comparative evaluation of five initiatives developed within a single organization. Using a multidimensional framework grounded in the OECD-DAC criteria, Triple Bottom Line (TBL), and Theory of Change, the study assesses each project across seven key dimensions: relevance, effectiveness, efficiency, impact, scalability, innovation, and sustainability integration. The selected projects—NextSMEs, Stay Connected, Recrew Project, Stay OK, and R.I.S.E.—span diverse themes such as digital inclusion, workforce development, mental health, and green innovation. The findings reveal strong alignment with EU sustainability objectives and highlight the varied approaches through which impact is achieved. Projects with digital and modular formats excelled in efficiency and scalability, while those centered on social innovation and human well-being demonstrated deeper, though less replicable, transformations. The analysis identifies key success factors, including stakeholder collaboration, strategic alignment with EU priorities, and the integration of social and emotional innovation alongside technological solutions. Conversely, common limitations include challenges in scalability and the lack of long-term impact tracking. This thesis contributes to both academic and policy discourses by offering a structured, practical evaluation model and policy recommendations to enhance future EU funding strategies. Ultimately, it underscores the importance of adopting a holistic and human-centered lens to foster meaningful and enduring outcomes in sustainable entrepreneurship.