Greek startup scene 2018: A maturing ecosystem pointing to a brighter future
Greece isn’t yet known for its startup scene, but when we went to Athens for our annual company offsite last week, we thought it would be a great chance to look into it and see if we can offer any of our experience. With Maria Loupa from our UK team and Loukianos Zaganiaris from our French team both being Greek born and bred, it felt like a golden opportunity to see what’s been happening on the Greek startup front.
Over the course of two days, Maria and Loukianos met with some of the leading incubators, VC firms and co-working spaces in the capital. And their reception was incredibly positive.
They heard about the challenges the startups are facing and offered some tips on how to tackle comms and content with a ‘PR 101 from Ballou’ workshop. Below is an overview of some of the organisations they met with:
- The Egg, a CSR initiative by Eurobank, designed to encourage young entrepreneurs to bring innovative ideas and turn them into successful enterprises.
- The Impact Hub, a local and international connected network, where business and creative professionals are working to design and implement business models that will define the future of entrepreneurship.
- ACEin, The Athens Center for Entrepreneurship and Innovation (ACEin), offering support to researchers and potential young entrepreneurs in order to help them develop innovative business ideas and bring them to the market.
- Found.ation, acting as a startup hub, a digital transformation accelerator for corporations and a tech education hive, igniting innovation and driving transformation through digital technologies, new business models and culture shift.
- Velocity Partners, a team of founders, operators and investors with hands-on experience and skills that match and complement the vision and ambition of entrepreneurs.
The ‘PR 101’ sessions were really well received by investors and promising startups alike, such as Lefko and TechTalent.jobs, among others. While the Greek startup scene is very much in its infancy, there are some exciting signs of growth. A new report analysing the Greek Startup Ecosystem, labelled ‘Startups in Greece 2018: A maturing ecosystem points to a brighter future’ has been published this week by some of the experts we met with, across Found.ation, Velocity Partners and EIT DIGITAL EIT Digital. It provides a realistic overview and presents opportunities to engage with startups, doing great things across tech, life sciences, agri-tech, travel-travel, health-tech and maritime.
Local startups are maturing, offering innovative solutions and competitive services. Thankfully, this is now gradually being matched with great funding prospects, such as EquiFund, an initiative created by the Hellenic Republic in cooperation with the European Investment Fund (EIF). By leveraging the top-notch research Greek universities and research centers are producing, the available human capital and the relevant historical knowledge, the much-needed investment injections will come. And while Greece may still be the “The Ugly Duckling” of the investment world for some, it may just be the next black swan, kick-starting technologically-fuelled economic growth.