Startups in Greece 2018 report

Found.ation, in collaboration with EIT Digital (part of the European Institute of Innovation and Technology), is once again mapping the field of startups in Greece, which is growing in an increasingly fascinating way thanks to the inflow of more investment funds.

For the first time this year, Found.ation partnered with Velocity.Partners VC, one of the EquiFund-backed funds, to analyze and highlight the attributes of the Greek startups in their early stages of development (pre-seed and seed), understand their needs, identify the problems they face in seeking funding, and build their profile.

This report examines issues such as: the EquiFund program, which will be the main mechanism for financing and strengthening the startup ecosystem for the years to come, the amounts already invested in this context, from what funds and to what startups.

We are also updating and presenting the list of the most successful Greek startups, both in terms of those that have received the largest funding amounts in 2018 and overall, as well as those that have achieved the best exit deals.

Some of the report’s highlights:

• Greek startup companies continue to seek and achieve ever greater funding, while examples such as Workable and Softomotive are powerful case studies not only on a Greek but on a European level.
• More than €500 million is expected to be channeled to Greek startups and companies in the coming years through EquiFund’s investment program, which combines European, national and private funds. A total of €14 million has been invested in 2018, supporting innovative businesses and research teams.
• The Greek startup ecosystem is maturing and turning to B2B services. The areas of life sciences, lifestyle / social networking / entertainment and tourism / hospitality are the most popular amongst early-stage startups.
• Highly important investment opportunities are now available to Greek startups seeking funding, but adequate planning and serious work is needed before approaching the relevant investment funds in order to increase the chances of their proposal being accepted.

The purpose of the report is to highlight not only the issues but especially the opportunities for development and further funding. With the emergence of the most successful case studies of entrepreneurship, we aim to attract the interest of investors coming in and out of the country as the report is written in English.

“We should not underestimate the fact that the EquiFund program is the largest intervention by the European Investment Fund in a member state of the European Union. Its impact must be intense, in financial terms, and visible to the general public, ”said Dimitris Kalavros-Goussiou, co-founder and partner of Found.ation and Velocity.Partners VC.

You can read the full report (in English only) by downloading it here.