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The Future of Entrepreneurship in Greece
The startup scene in Greece is flourishing, but what comes next?
As you may already know, the 2008 recession had an enormous impact on the Greek economy, with unemployment percentages soaring to the high twenties. For youth this rate was even lower, with more than 50% unemployed. In the end, the Greek Depression set the record for the longest recession ever endured by a modern capitalist society, even beating the American Great Depression. Although the Greek economy experienced utter devastation and multiple bankruptcies, the stage was set for a revival of hope and growth through entrepreneurship amongst a population of hardworking risk-takers who prefer to be their own bosses. Greece was finally ready to host a startup community of its own.
In 2016, the Greek Government partnered with the European Investment Fund to create EquiFund — a €300 million fund for early stage startups — enabling illustrious growth for the companies they have invested in. In total, up to €500 million will be invested in the Greek economy through EquiFund.
This influx of capital, combined with the enormous surplus of labor capacity due to…
