The Greek Startup Tech Scene is expected to grow and attract considerable investment.

It is widely agreed that there is a lot of work to be done to improve the Greek startup ecosystem.  It currently stands at a pivotal point with great potential for growth over the next years.

The Greek Startup Ecosystem

The European Digital City Index, attempts to depict how well European cities support tech founders. The Greek capital ranks low among other European cities, in position 56 out of the 60 reviewed. Athens scores low in digital infrastructure, entrepreneurial culture & market conditions.

A recent study of the BCG on the state of the Greek startup ecosystem, indicates problems that Greek startups face. Limited access to the right talent, under-developed collaborative networks and an unfriendly business environment are some.

According to the Startup Hubs Europe, Athens scores the lowest among other European startup hubs in attracting investment.

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Investment though in Greek startups is on the rise in recent years as shown in the table below.

According to a recent Found.ation report, only 36% of Greek startups have received external capital. With the majority of them being in the range of €25,000 to €50,000.

This affects the fundamental process of team building for a startup. European startups hire 12 employees on average (including founders), but this number drops in Greece to approximately 5.

Sylipsis Corporation provides the means and expertise to develop and commercialize business ideas.

Tech Startup ecosystem fund and growth opportunities

Equifund is expected to bring 260 million euros in the Greek startup ecosystem. Adding extra private capital to that, there are estimates that the Greek tech scene can be injected with up to 400 million euros, over the next years.

But is plenty of money enough to bring about change, challenge the Greek systemic problems and put the city on the European tech startup scene?

The BCG report suggests a roadmap with realistic milestones, for building the Greek startup ecosystem. A dedicated host-up Greek organization, responsible to drive innovation could be a crucial step. The private sector is a significant stakeholder, for the future development of the Greek tech startup ecosystem.

Sylipsis Corporation provides the means and expertise to develop and commercialize business ideas.

Sylipsis is a US-based company (Boston, MA) with an office in Athens, Greece. We focus in growing technology sectors that disrupt the medical; agricultural; sports; marine; financial; and cyber defense industries.

Find out more about how you can benefit from our services that include the idea2seed and seed2business development stages, Technology Solutions and Funding Solutions.