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29 February, 2024

Uprising Greek Entrepreneurial Ecosystem

Greece is a growing hub of innovation and entrepreneurship, with skilled professionals, government support, and direct investments in several sectors.

The entrepreneurial ecosystem in Greece is an evolving landscape marked by increasing dynamism, collaboration, and innovation. From healthcare and technology to energy and tourism, the Greek entrepreneurial ecosystem exhibits a unique blend of traditional expertise and modern innovation, making it an attractive hub for both domestic and international entrepreneurs.

Initiatives like Elevate Greece play a pivotal role in connecting key stakeholders, thereby facilitating partnerships and resources essential for startup growth. Elevate Greece initiative was launched by the Greek Government, intended to identify promising startups and support their growth nurturing a robust innovation ecosystem along the way.

Greece is home to 24 state-accredited universities each a hub of research and academic excellence. One of the most significant assets of the Greek entrepreneurial ecosystem is its highly educated workforce, particularly in fields like IT, engineering, healthcare, and social sciences.

According to OECD, 44.20% of the young adult population in Greece has a tertiary education. This level of educational attainment positions Greece competitively in terms of human capital, which is crucial for any startup ecosystem. Coworking spaces and innovation hubs like JOIST serve as nurturing grounds for startups. These spaces provide entrepreneurs with the essential infrastructure they need to grow their ideas, from office amenities to networking opportunities.

To boost overall performance, Greece should actively promote entrepreneurship through nationwide campaigns and incentives. Creating a culture of innovation can be fostered through hackathons, workshops, and incentivizing R&D initiatives. Programs to incubate startups that merge tech with sectors like tourism and agriculture could be highly effective.Furthermore, the focus on social entrepreneurship can be expanded to tap into international funds dedicated to social impact, thus making Greece a go-to destination for impact investing.

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Read the full SWOT Analysis of Greek Entrepreneurial Ecosystem to understand the strengths and weaknesses in fostering new ventures. ExcellEnt’s SWOT Analysis examines the dynamics of entrepreneurial ecosystems in six European countries (Greece, Turkey, Bulgaria, Ukraine, France, and Ireland). It presents detailed SWOT analysis of each country to understand their strengths and weaknesses in fostering new ventures.

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