Greek Start-Ups Attracted $1 Billion in Investments Last Year

frank busch PzifgmBsxCc unsplash

The Greek start-up ecosystem managed to attract 1 billion dollars in capital investments in 2021, according to Deputy Development and Investment Minister Yiannis Tsakiris.

In a post on social media and responding to media reports on Thursday, Tsakiris said that "Greek start-ups stand out for their high innovation and human potential levels."

Specifically, he said that the European start-up ecosystem proved to be very resilient despite the Ukraine war, creating 21 new "unicorn" companies (with an assessed value of over 1 billion dollars) in the second quarter of 2022 alone. The year's total was 187 new companies, which managed to maintain quarterly growth rates, he revealed, noting that in Greece the start-up ecosystem is continuing to attract investors and to show signs of maturing.

The minister added that the Greek start-ups have received additional funding through the Hellenic Development Bank of Investments (EATE) and the Q-Equity program, which allocates nearly €400 million through the Recovery Fund to new funds in private equity or venture capital companies that will invest in Greek innovative enterprises.

Read also Underwater Robot Cleans Alonissos Seabed