Trade with Greece
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Greece is in urgent need of economic development and
employment opportunities, new productive investments, but
also new enterprises that will utilise the talent and knowledge
of young people, create new jobs, and boost the Greek
economy’s competitiveness and growth.
G
reece has one of the highest tertiary
education graduate rates in the world. It
has many highly educated and ambi-
tious people, full of talent and innovative ideas,
who could play a leading role in the creation of
new dynamic enterprises. It is the responsibility of
both the state and the representatives of the
country’s productive forces, to create more
favourable conditions for the growth of start-up
entrepreneurship. In this context, the ACCI has
established a series of support structures and
services. One of the most important is the Athens
Start-up Business Incubator (THEA), which was
established in 2014 as part of the NSRF 2007-
2013, and currently operates as a self-financed
ACCI initiative, supported by the Regional
Authority of Attica. The Incubator focuses on sup-
porting new innovative business ideas in new-
technology related industries, as well as tradition-
al industries that are characterised by high growth
rates and extroversion.
Moreover, the Business Angels Network has been
operating since 2014, capitalising on best inter-
national practice for enhancing entrepreneurship
and bridging the gap between venture capital
financing and investment proposals for new
and/or innovative enterprises. The distinction
between Business Angels and conventional
investors, such as Banks and venture capital
funds, lies in the fact that the former require less
collateral in order to provide seed capital.
Moreover, Business Angels, most of them being
themselves seasoned entrepreneurs, usually pro-
vide advice and know-how to the young entrepre-
neurs they choose to support, in return for equity
stakes in the newly-formed company. Bringing
together the activities of these two structures, the
ACCI is organising regular presentations of
Incubator start-ups to the Business Angel
Network.
However, the growth of start-up entrepreneurship
in Greece does not require only support struc-
tures, but also the creation of a culture that recog-
nises and rewards creativity and business-related
skills. To this end, the ACCI and the Regional
Authority of Attica have established the Athens
Start-Up Awards for Innovative Start-up compa-
nies, with the aim of promoting the efforts of
young entrepreneurs. Supporting start-up entre-
preneurship is a crucial task, especially in such a
challenging period for the country. It is the
responsibility of all of us in today’s crisis-ridden
Greece to identify and jointly nurture these small,
albeit important sources of creation and opportu-
nities, which can change our collective fate.
ACCI: Investing in Youth
Entrepreneurship
