STARTUP ECOSYSTEM
Greece Investment in key sectors
Greece’s Investments in Technology and Education: Driving Digital Transformation
Greece is advancing digital transformation with substantial investments, including $176 million for 5G networks and funding under the Next Generation EU Recovery Plan for digital and green transitions. Initiatives like the Elevate Greece platform support startups, while public administration modernization reflects the nation’s commitment to innovation and efficiency.
Greece has undertaken significant public and private investments to advance its technology and education sectors, aiming to foster innovation and digital transformation.
- Digital Transformation of the Public Sector: The Greek government has allocated billions for the digital transformation of public administration. This initiative focuses on enhancing digital services, improving efficiency, and modernizing public sector operations.
- Development of 5G Networks: An investment of $176 million USD is dedicated to the development of 5G networks, aiming to bolster connectivity and support emerging technologies across the country.
- Next Generation EU Recovery Plan: As part of the Next Generation EU recovery plan, Greece has designed a strategy to invest in digital and green transitions, including substantial funding for education and technology sectors. The plan aims to modernize public administration, promote innovation, and improve healthcare and education systems.
- Elevate Greece Platform: The Greek government has launched the “Elevate Greece” platform to support the startup ecosystem, providing resources and information to foster private investments in technology and innovation.
Greece Funding volume
In 2024, Greek-founded startups secured $1.3 billion in funding globally, with $400 million directed to ventures operating in Greece—a 32% increase from 2023. This growth underscores investor confidence and Greece's rising prominence in the global startup ecosystem. In 2024, Greek-founded startups worldwide secured a total of $1.3 billion in funding, marking a $200 million increase from the previous year. This upward trend indicates a robust and expanding venture capital ecosystem in Greece. Focusing on startups with operations in Greece, the total venture funding in 2024 reached $400 million, a 32% increase from 2023. This growth highlights the country's attractiveness to investors and the increasing confidence in its entrepreneurial sector.
Greece Investment in key sectors
Greece is advancing digital transformation with substantial investments, including $176 million for 5G networks and funding under the Next Generation EU Recovery Plan for digital and green transitions. Initiatives like the Elevate Greece platform support startups, while public administration modernization reflects the nation’s commitment to innovation and efficiency.
Greece Innovation index
Greece's R&D expenditure rose to 1.49% of GDP in 2022, up from 1.46% in 2021, reflecting the country's dedication to innovation and technological progress. This growth highlights Greece’s focus on fostering a competitive and forward-thinking economy. Greece has demonstrated a commitment to enhancing its innovation capacity through increased research and development (R&D) expenditure and a growing number of patents filed annually.
Greece Startup density
Greece's startup ecosystem is growing rapidly, with Athens recognized as an emerging hub in the 2024 Global Startup Ecosystem Report. A strategic location, skilled workforce, and supportive government initiatives drive investment and innovation, making Greece an increasingly attractive destination for entrepreneurs and investors.
Greece Export/Import Ratio
Greece's high-technology exports reached 15.15% of manufactured exports in 2023, showcasing the sector's growth. However, imports of electrical and electronic equipment, representing 6.48% of total imports in 2022, highlight the country's reliance on imported technology. Despite a trade deficit, high-tech products play an increasing role in Greece's manufacturing sector.
