By Natassa Stasinou

 

Despite challenges and adversities the Greek innovation ecosystem "grows" and evolves. According to data from Elevate Greece, the country hosts more than 600 startups that employ approximately 5,900 employees.

 

The Hellenic Federation of Enterprises (SEV) estimates that they have a capitalization of about 8 billion euros. There are already five companies with a value of at least 1 billion euros and at least 30 companies with a capitalization of over of 100 million euros. And this is very important because the capacity of the services of a country to innovate is directly linked to the creation of quality jobs, the extroversion and its competitiveness.

 

SEV stands ready to help the continuous development of the Greek startup ecosystem, counting 91 startups among its members. Maggie Athanasiadis, Director of Industry, Development, Technology & innovation at SEV in an interview with "Naftemporiki", talks about the dynamics and the challenges of the Greek startup ecosystem, while she presents the tools offered by SEV.

 

She is noting that Greece is on the path of great changes in its production model. "This ecosystem, and I am referring to startups in Greece, is constantly growing in number and in capitalization. We find that the country has become much friendlier for a startup and it has advanced 6 places in the Global Startup Ecosystem Index 2022, reaching the 48th place in the world.

 

Equifund plays a catalytic role in this. Until today, as a result of the operation of Equifund, 830 million euros have been invested in the Greek startup ecosystem. Something worth noting is that over 15% of companies in the innovation ecosystem are in the health field, with over 50% of them offering digital health solutions. There is also great interest for the tourism sectors and recreation, as well as the energy and environment sector, with 9% and 8% of business activity respectively.

 

Notable efforts are also being developed in the field of industrial engineering technology and systems production.

 

In recent years we have seen significant progress on the front of funding, but also interest from foreign investors. This trend would be even stronger this year and the next years if the investment climate was not affected by the situation worldwide, Mrs. Athanassiadis believes. Inflationary pressures have alos depressed the valuations of startups. However "good companies will stay good and will garner investor interest and strategic partners".

 

As for what is the most important element for the further development of startups in Greece, she notes that "innovation requires collaboration. Executives and organizations that will network start-ups with other businesses in Greece and abroad, so that they develop strategic partnerships and overcome the so-called "valley of death". In SEV we believe in in the power of partnerships and we consider that it is a condition for the enlargement of Greek startups and their expansion into foreign markets".