Greek National Startup Registry reaches 789 startups

The National Startup Registry, Elevate Greece, has registered a total of 789 startups operating in Greece. Elevate Greece tracks the progress of startups and supports young entrepreneurial organizations through benefits and incentives.

Recent data from Foundation and Elevate Greece indicate that in 2023, 70 Greek startups received a total of € 485 million in funding, with Greek Venture Capital funds, family offices and angel investors contributing to 42% of the total funding rounds.

By some estimates, the total value of the Greek startup ecosystem is approximately $ 8.2 billion.

Currently there are 13 active Greek VC funds focusing mainly on startups with a total size of € 540 million. Those funds invested in 62 startups in 2023. The involvement of investors outside Greece reached 78% of total investors, 33% of the participating VCs in the investment rounds were from the U.S.

The most funded sectors in the Greek Startup ecosystem were in retail, artificial intelligence (AI) and agricultural and food technology. Other areas included: commercial real estate, semiconductors, health tech, manufacturing, mobility, software, greentech, fintech, blockchain, big data and transportation.

The Top 10 most funded Greek Startups are:

·        Viva Wallet

·        FlexCar

·        Skroutz

·        Blueground

·        Spotawheel

·        EdgeQ

·        Causaly

·        Persdao

·        Plum

·        Workable.

Greece ranks 19th in Western Europe and 49th in the Global Startup Ecosystem Index worldwide in terms of startups.

To improve the startup ecosystem, the Greek Government is focussing on business-friendly economic developments such as the Digital Nomad Visa; tax incentives for patent-utilising startups; and initiatives such as Elevate Greece, EquiFund and Startup Greece to bring startups with investors to grow the entrepreneurial environment in the country. 

Source:

Startups in Greece

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