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            <input type="checkbox" class="read-more-state" id="text-from-report"/>
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                <p><img src="https://images.unsplash.com/photo-1603565816030-6b389eeb23cb?ixlib=rb-4.0.3&amp;ixid=M3wxMjA3fDB8MHxzZWFyY2h8MTJ8fGdyZWVjZXxlbnwwfHwwfHx8MA%3D%3D&amp;w=1000&amp;q=80" alt="brown concrete building under blue sky during daytime">
<br>
Despite being heavily impacted by the economic crisis in 2008 and by the COVID-19 pandemic in 2020, Greece remains resilient. The country reached a major milestone with both Viva Wallet and PeopleCert exceeding US$ 1 billion in valuations in 2022. Success stories like these inspire entrepreneurs and boost motivation in the ecosystem. The country has the advantage of a highly skilled English speaking workforce and a promising IT sector. Moreover, Greece enjoys proximity to European markets, the Middle East, and Africa, which would all support the creation of a regional tech hub.<br> <div class="read-more-target">
<br> However, the challenge is keeping this talent in the country while also fostering an entrepreneurial mindset through education and training. With heavy bureaucracy and a scattered network of ecosystem stakeholders, the budding startup landscape of Greece still has a long way to go.<br>
<br> The public sector plays a pioneering role in the startup ecosystem development, especially in developing a network for promoting and mentoring potential entrepreneurs and directing investor interest in early stage startups. <a href="https://equifund.gr/">EquiFund</a>, a fund-of-funds, is taking an active role in addressing a lack of venture capital and private equity activity. <a href="https://elevategreece.gov.gr/">Elevate Greece</a> and <a href="https://startup-greece.org/">Startup Greece</a> are two government initiatives that bring startups and investors together to provide a more comprehensive look at the startup landscape.<br>
<br> Where bureaucracy is concerned, the government should continue its recent positive trend of being business friendly and making entrepreneurs’ lives easier. This is extremely important in Greece, as we have met freelancers and entrepreneurs who feel it is unnecessarily hard to begin freelancing or to embark on an entrepreneurial path due to overwhelming bureaucracy and social security costs. Smart reforms could make the economy more competitive. Such reforms would also generate positive publicity, creating a real impact in the global narrative of the local startup ecosystems. We already see improved policies starting to appear, such as the <a href="https://workfromgreece.gr/">Digital Nomad Visa</a>. Overall, the ongoing digital transformation of Greece sends encouraging signals for the future. The startup ecosystems of Greece have huge development potential, and with the right public initiatives, Greece could become a mature regional startup hub.<br></p>

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![brown concrete building under blue sky during daytime](https://images.unsplash.com/photo-1603565816030-6b389eeb23cb?ixlib=rb-4.0.3&ixid=M3wxMjA3fDB8MHxzZWFyY2h8MTJ8fGdyZWVjZXxlbnwwfHwwfHx8MA%3D%3D&w=1000&q=80)
<br>
Despite being heavily impacted by the economic crisis in 2008 and by the COVID-19 pandemic in 2020, Greece remains resilient. The country reached a major milestone with both Viva Wallet and PeopleCert exceeding US$ 1 billion in valuations in 2022. Success stories like these inspire entrepreneurs and boost motivation in the ecosystem. The country has the advantage of a highly skilled English speaking workforce and a promising IT sector. Moreover, Greece enjoys proximity to European markets, the Middle East, and Africa, which would all support the creation of a regional tech hub.<br> ==read-more==
<br> However, the challenge is keeping this talent in the country while also fostering an entrepreneurial mindset through education and training. With heavy bureaucracy and a scattered network of ecosystem stakeholders, the budding startup landscape of Greece still has a long way to go.<br> 
<br> The public sector plays a pioneering role in the startup ecosystem development, especially in developing a network for promoting and mentoring potential entrepreneurs and directing investor interest in early stage startups. [EquiFund](https://equifund.gr/), a fund-of-funds, is taking an active role in addressing a lack of venture capital and private equity activity. [Elevate Greece](https://elevategreece.gov.gr/) and [Startup Greece](https://startup-greece.org/) are two government initiatives that bring startups and investors together to provide a more comprehensive look at the startup landscape.<br>
<br> Where bureaucracy is concerned, the government should continue its recent positive trend of being business friendly and making entrepreneurs’ lives easier. This is extremely important in Greece, as we have met freelancers and entrepreneurs who feel it is unnecessarily hard to begin freelancing or to embark on an entrepreneurial path due to overwhelming bureaucracy and social security costs. Smart reforms could make the economy more competitive. Such reforms would also generate positive publicity, creating a real impact in the global narrative of the local startup ecosystems. We already see improved policies starting to appear, such as the [Digital Nomad Visa](https://workfromgreece.gr/). Overall, the ongoing digital transformation of Greece sends encouraging signals for the future. The startup ecosystems of Greece have huge development potential, and with the right public initiatives, Greece could become a mature regional startup hub.<br> 

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