Build in Greece: Scale Globally

Your weekly insider on tech, innovation, and startups

Author

Henry Umunnakwe
April 28, 2025

Good morning!

Last week, Alex Tsilfidis, the Engineering Manager at Meta, announced the launch of Edits - Instagram's new video editing app which was developed by his team right here in Athens. It got me thinking about how much the tech scene has grown into a truly emerging ecosystem compared to when I first moved here in 2019 and how Athens can play a crucial role in becoming a global home for innovators and entrepreneurs.

Why "Emerging"?
Over the years, Greece’s ecosystem has played a frontier role from early stage business incubation programs mentoring first-time entrepreneurs, to blending investments and financial support from angels, venture capital, and corporate grants, and benefiting from increasingly entrepreneurship friendly policies.

Greece’s tech ecosystem, especially in Athens, has evolved significantly since 2019. A handful of startups successfully transitioned into growth-stage companies (scaleups), with a few achieving exits, while others that couldn't adapt have naturally phased out. Overall, it’s a win for the ecosystem as the market now has a pool of tested and trusted talent, more experienced founders and support networks capable of shortening the journey from startup to scaleup and eventually to successful exits.

What I find fascinating is the increased opportunities for networking created by the growing number of events among ecosystem players which have significantly boosted the interconnectedness within tech scene. Our weekly event tracker via Techincider records more than 30 events happening across Athens, Thessaloniki, Heraklion, and Patras every month. Simply put, it’s now easier than ever for entrepreneurs to find advisers, co-founders, investors, and form meaningful collaborations.

An important task for the ecosystem is to keep score: celebrate what has worked, learn from what hasn’t, and stay critically aware of what still needs improvement if we want to maintain our growth trajectory toward the sustaining phase of the ecosystem lifecycle, as shown in the image below.

Lifecycle Model of a Startup Community or Entrepreneurship Ecosystem

My hope is that we focus on building an ecosystem that is inclusive, resilient, and globally connected. As we grow the number of startups, we must ensure that female founders, immigrant founders, and underrepresented entrepreneurs feel fully welcomed, supported, and empowered to lead, while transforming Athens from just a global tourist destination into a global Σπίτι (home) - a place where entrepreneurship is accessible to everyone from anywhere in the world to come not just to visit but to stay, build, and thrive.

Weekly Roundup

Funding and Startup Opportunities

  • Apply for the 2025 Innovation Fund - Expanding Access to Youth Mental Health and Well-Being, supported by The Tow Foundation. Grants ranging from $300,000 to $1 million over three years will be awarded to up to 10 organizations focused on improving mental health and well-being for young people aged 0-25. Apply by May 23.

  • Apply Now: Join Greece’s Leading Business Accelerator for Early-Stage Startups by egg | Deadline: May 5

Events

Things Worth Reading, Listening and Watching

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