Greece’s Youth Turn Towards Innovation and Foreign Funding

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Greece’s youth has found a new way to fight unemployment in the light of the country’s four year old economy […]

Greece’s youth has found a new way to fight unemployment in the light of the country’s four year old economy crisis. Instead of pursuing civil service or joining the family business as many young Greeks once did, they are now turning a new page and pursuing business startups aimed at innovation and foreign funding.

One example is Verdical – company that designs “vertical” gardens for the sides of building. Found by 35-year-old Petros Boskos, he says that it was his only chance to stay in Greece and “make it”.

Since 2010 eight innovation initiatives have opened in Athens. They range from offering advice to budding entrepreneurs with bankable ideas. Between 2010 and 2013 the number of startups has grown from sixteen to 144. Investment rose from 500 000 euros to 42 million over the same period, Endeavor said.

According to one of the managers of Greek fund Odyssey the country’s market was ripe for startup growth.

One successful startup was 30-year old Antonios Fiorakis’ project Incrediblue – a website for yacht and sailboat rentals in Greece, Turkey, Spain, Italy and Croatia.

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