Greece has quietly built one of Europe’s most intriguing startup ecosystems, fusing government- backed incentives with a pro-business climate, and the numbers speak for themselves: 63,000 new businesses were registered in 2024, an 11% increase from the previous year (Marathon, 2024). Founders seeking their next launchpad and investors looking for high-potential markets will find Greece’s transformation hard to ignore.
The Greek Business Opportunity
In 2024, Greek startups attracted over €555 million in funding across over 90 companies, marking a 15% increase from the previous year. This growth is particularly noteworthy given the 5% decline in startup funding observed across European markets during the same period (The Foundation, 2024).
A substantial portion of this investment— approximately 78%—originated from international investors, underscoring Greece’s rising global appeal. Prominent VC firms such as MarathonVC, Metavallon VC, VentureFriends, Uni.Fund, EquiFund, and the Hellenic Development Bank of Investments (HDBI) led this growth. The ecosystem now encompasses over 8,100 active startups,with two achieving unicorn status, including Blueground in March 2024.
Angel investors are eligible for a 50% tax deduction on investments in startups, with the maximum eligible investment increased from €300,000 to €900,000, distributed among up to three startups or funds. Moreover, companies can benefit from a 100% tax deduction on expenses related to the green economy, energy, and digitalization until 2025.
63,000 new businesses in 2024, €555M in startup funding, and a booming fintech scene- Greece is now one of Europe’s fastest-growing startup hubs.
So far, the EU Recovery and Resilience Facility (RRF) has allocated €36.6 billion to Greece, to boost innovation in green energy, digital transformation, and infrastructure (Greece 20, 2024). Upcoming grant opportunities in 2025 are expected to support these high-growth areas further.
Greece’s Startup Ecosystem – High-Growth Companies in High-Growth Sectors
Greece’s fintech sector is proving its global competitiveness, with Viva Wallet becoming Europe’s first cloud-based neobank and securing a €700 million acquisition deal with JP Morgan, a landmark moment for the country’s digital finance landscape. Similarly, Plum, an AI-driven wealth management platform, has scaled across eight European markets, raising over $44 million to redefine how users automate savings and investments. These success stories signal Greece’s evolution into a fintech innovation hub, where startups leverage AI and digital banking models to expand beyond domestic borders.
In proptech and mobility, Greek startups are reengineering traditional industries with scalable, tech-driven solutions. Blueground has flipped the mid-term rental market, operating in 30+ global cities and offering premium, fully furnished stays for business travelers and digital nomads. FlexCar, meanwhile, has raised over $270 million to pioneer a flexible vehicle leasing model, expanding rapidly into Italy, Mexico, and Cyprus. These companies illustrate a shift towards asset-light, high-growth business models that scale internationally by solving real-world inefficiencies.
Beyond fintech and mobility, deep tech and AgriTech are emerging as high-impact sectors. Augmenta, an AI-powered precision farming startup, was acquired by CNH Industrial for $110 million, demonstrating Greece’s growing influence in agricultural automation and sustainability. Meanwhile, Hellas Direct, a next-gen InsurTech company, has raised over $100 million to digitize car and home insurance, using AI-driven underwriting and risk assessment to modernize the industry.
Smart Route to Residency Through Startup Investment
Greece now offers a startup visa (Type B.6) for foreign investors committing at least €250,000 to a registered Greek startup—making it one of the most accessible residency pathways compared to the Golden Visa (€400,000+) or financial investment visas (€500,000+). Investors can hold up to 33% ownership, and their backing must create at least two new jobs within the first year, with employment maintained for five years (Lexology, 2025).
For investments made through legal entities, Greek firms can grant a permit to one investor, while foreign companies can extend permits to up to three individuals, depending on the shareholding structure. The visa remains valid as long as the investment is active, with a two-month reinvestment window if the startup is acquired, fails, or restructures. This built-in flexibility reduces risk, ensuring investors can pivot without losing residency status.
A Structured Ecosystem for Startups
The main pillar of Greece’s startup landscape is Elevate Greece, the country’s official startup registry (Elevate Greece, 2025). So, to qualify for Elevate Greece, startups must meet the following requirements:
- Legal Structure: Must be registered as a capital company (P.C., Ltd, or S.A.).
- Business Age: Must be operating for less than eight years.
- Revenue Threshold: Annual turnover must not exceed €50 million.
- Innovation & Scalability: Companies undergo an assessment to ensure they meet innovation and growth potential standards.
But there are some exceptions, as Some startups can bypass standard evaluations through an expedited process if they meet one of the following conditions:
- Venture Capital Backing: Companies funded by recognized VC firms.
- University Spin-offs: Startups originating from academic institutions.
- Patent Holders: Businesses holding patents registered with major intellectual property offices.
Business Setup: How to Start a Company in Greece in 2025
An IKE (Private Limited Company) in Greece offers a flexible, low-capital, and limited-liability structure, making it an attractive choice for entrepreneurs. It operates as a separate legal entity, shielding members from personal liability. The company can be formed with just one euro and requires no minimum cash contribution. The formation of an IKE is streamlined through the General Commercial Registry (GEMI) One-Stop Shop, ensuring a fast and efficient setup process.
- Processing Time: Registration is typically completed within one day.
- Notarial Act: Required only if real estate is involved.
- Website Requirement: A company website must be registered within one month of incorporation.
Ownership & Structure
IKE companies offer flexible ownership structures, allowing entrepreneurs to choose between a single-member or multi-shareholder model.
- Single-Member IKE (SMPC): Can be formed with just one shareholder.
- Multi-Shareholder IKE: Allows multiple investors to participate.
- International Operations: While an IKE must list its headquarters in Greece, it can operate internationally without restrictions.
- Company Duration: Default duration is 12 years, but this can be extended through a shareholder agreement.
Legal & Tax Advantages for Entrepreneurs
Greece has made strategic tax reforms to attract entrepreneurs, investors, and high-growth startups. The country offers a competitive corporate tax rate, strong incentives for angel investors, and a startup- friendly residency program, positioning itself as an attractive base for business expansion. Corporate tax in Greece is set at 22%—significantly lower than in Germany (29.94%) and France (25%) (OECD, 2024).
Angel investors can deduct 50% of their investment in eligible Greek startups from their taxable income (Greek Ministry of Finance, 2024). The maximum eligible investment for deductions increasedfrom €300,000 to €900,000, allowing investors to distribute funds across up to three startups for greater diversification.
Entrepreneurs who invest at least €250,000 in a registered Greek startup can qualify for a residency permit under Greece’s Startup Visa (Type B.6) (Machas & Partners, 2024).
Talent & Hiring: How to Build a Team in Greece
The nation offers a highly skilled, multilingual workforce that is powerful in STEM fields, and labor costs are significantly lower than in Western Europe. According to Eurostat, Greece ranks among the top EU countries in terms of the percentage of university graduates in science and engineering. In 2023, the average hourly labor cost in the European Union was €31.8, with countries like Luxembourg reaching €53.9 per hour. In contrast, Greece’s labor costs are almost 3x times lower at €12.58 per hour (OECD, 2024).
To attract talent, Greece provides substantial tax incentives. Notably, individuals relocating to Greece can benefit from a 50% tax exemption on employment or business income for up to seven years, aiming to reverse brain drain and draw foreign professionals (PwC, 2024). Employers also gain from reduced social security contributions, with potential tax deductibility increases of 50%, up to 14 times the minimum wage per new employment position.
Hierarchical decision-making is common, particularly in larger organizations, while informal networking—often cultivated through extended meetings or social gatherings—can accelerate deal- making. Recruitment strategies in Greece should be adapted to its professional culture. Networking remains one of the important avenues for employment—business relationships are built on trust, and personal rapport can significantly impact hiring success. Companies seeking engineers, product managers, or marketers should tap into university networks and research institutions, many of which have strong ties to the industry.
Market Expansion: Why Greece is a Strategic Location for Startups
Greece’s position at the crossroads of Europe, the Middle East, and Africa makes it an ideal launchpad for businesses aiming to reach multiple regions from a single base. The country’s major ports—Piraeus and Thessaloniki—anchor a robust maritime and logistics network, supporting supply chain startups and multinational corporations alike. Beyond logistics, Greece’s digital consumer market is expanding rapidly, with fintech and e-commerce ventures experiencing high adoption rates as the population embraces digital financial services and online marketplaces.
Greek Bureaucracy between Hurdle and Innovation
Bureaucracy is still a major nail in the coffin of the Greek system, but the state has significantly streamlined its business registration process through the digital platform gov.gr. Now, entrepreneurs can establish companies online without the need to visit public service offices. This initiative simplifies the setup of various business entities, including Limited Liability Companies (EPE), by allowing applicants to complete necessary documentation and registration digitally via the One Stop Service (e-YMΣ). However, processes like tax registration, VAT compliance, and licensing can still involve administrative delays.
A Window of Opportunity for Founders and Investors – Greece’s Startup Moment
The same country that once saw entrepreneurs leave in search of opportunity is now actively inviting them in—with capital, incentives, and a thriving ecosystem eager for innovation. Just ask the early investors in Viva Wallet or Blueground— the ones who saw the potential before the mainstream caught on. If you’re a founder looking for your next base, or an investor scouting high- growth opportunities, Greece represents the ultimate strategic move.
