Launching A Startup In Greece: A Practical Guide And Tips

Published on September 29, 2025 and written by Cyril Jarnias

Greece, the cradle of Western civilization, is now reinventing itself as a dynamic hub for innovative startups. Despite past economic challenges, the Hellenic country has managed to transform its difficulties into opportunities, creating an environment conducive to entrepreneurship and innovation. Let’s dive into the fascinating world of business creation in Greece, where millennia-old tradition and technological modernity meet to shape the country’s economic future.

Greece: Fertile Ground for Ambitious Startups

Greece has experienced a true entrepreneurial renaissance in recent years. The country has transformed into fertile ground for startups, attracting both local and international entrepreneurs drawn by its untapped potential and exceptional quality of life. This transformation is not accidental but the result of concerted efforts between the government, private sector, and international community.

The Greek startup ecosystem has experienced rapid growth, with a significant increase in innovative companies and investments. In 2024, total funding for Greek startups reached €2.2 billion, a figure demonstrating growing investor confidence in the country’s potential. Success stories like Blueground, Workable, and Viva Wallet have highlighted Greek entrepreneurs’ ability to create world-class companies.

The Greek government has played a crucial role in this transformation by implementing startup-friendly policies. Initiatives such as the “Elevate Greece” program have created an environment conducive to innovation, offering tax benefits, grants, and logistical support to young companies. Additionally, simplified administrative procedures and the creation of special innovation zones have significantly facilitated startup launch and development in the country.

Choosing the Right Legal Structure: Key to Success for Your Greek Startup

Choosing the legal structure is a crucial step in creating your startup in Greece. Greek legislation offers several options, each with its advantages and specificities, tailored to different entrepreneur needs and ambitions. Here are the main legal forms to consider:

Limited Liability Company (LLC) or EPE

The LLC, known in Greece as EPE (Etaireia Periorismenis Efthinis), is a popular option for small and medium-sized enterprises. It offers considerable flexibility and limited liability for partners. The minimum required share capital is €4,500, making it accessible to many entrepreneurs. Managing an EPE is relatively simple, with fewer formalities than a corporation.

Corporation (SA) or AE

For more ambitious projects or those requiring significant funding rounds, the Corporation (Anonymi Etaireia or AE) is often preferred. It allows clear separation between company ownership and management and offers high credibility with investors and business partners. The minimum share capital is €25,000, but this legal form offers maximum flexibility for future growth and new investor entry.

Private Capital Company (IKE)

Introduced more recently, the IKE (Idiotiki Kefalaiouchiki Etaireia) has become a very attractive option for startups. It combines the flexibility of a sole proprietorship with limited liability protection. The minimum share capital is symbolic (€1), making it an ideal option for beginner entrepreneurs or projects with low initial investment. The IKE also offers great flexibility in share distribution and company management.

Simplified Corporation (SAS)

Although less common, the SAS (Aploustevmeni Anonymi Etaireia) is gaining popularity among Greek startups. It offers great statutory freedom, allowing founders to define their company’s governance rules on a custom basis. This flexibility makes it an interesting choice for innovative projects requiring adaptable structures.

The choice of legal structure will depend on many factors, such as your business nature, growth objectives, number of founders, and funding needs. It’s crucial to properly evaluate these aspects and consult a local legal expert to make the choice best suited to your project.

Funding Your Dream: Financing Options for Startups in Greece

Funding is often the lifeblood for startups, and Greece is no exception. Fortunately, the Greek entrepreneurial ecosystem has evolved considerably in recent years, offering an increasing variety of financing options for ambitious young companies.

Venture capital funds and business angels

The venture capital scene in Greece has experienced remarkable growth. Funds like Marathon Venture Capital, Venture Friends, and Openfund have played a crucial role in funding the most promising Greek startups. In 2024, venture capital investments in Greek startups reached a record €500 million, demonstrating the growing attractiveness of the ecosystem. Business angels, often successful entrepreneurs reinvesting in the ecosystem, are also increasingly active, offering not only funds but also their expertise and networks.

Public and European funding programs

The Greek government and European Union offer various financial support programs for startups. The Hellenic Development Fund, for example, offers loans on favorable terms and guarantees to facilitate access to bank credit. European programs like Horizon Europe and InvestEU are also accessible to Greek startups, offering grants and funding for innovation and research.

Incubators and accelerators

Greece now has several renowned incubators and accelerators, such as EGG (Enter-Grow-Go) supported by Eurobank, and Orange Grove, an initiative of the Dutch embassy. These structures offer not only workspace and mentorship but also often crucial initial funding for startups in their launch phase.

Crowdfunding and alternative platforms

Crowdfunding platforms are gaining popularity in Greece. Sites like Indiegogo and Kickstarter are used by Greek entrepreneurs to raise funds, while local platforms like GiveandFund are developing. This approach not only allows fundraising but also validates market interest in a product or service.

Traditional banks and financial institutions

Although traditionally more reluctant to fund startups, Greek banks are beginning to adapt to the entrepreneurial ecosystem. Some, like Alpha Bank and Piraeus Bank, have launched specific programs for startups, offering loans on more favorable terms and advisory services.

It’s important to note that the choice of funding method will greatly depend on your startup’s development stage, business sector, and specific needs. A well-thought-out funding strategy, potentially combining several of these options, will be crucial for your company’s success.

Navigating the Greek Startup Ecosystem: Practical Tips and Resources

Launching a startup in Greece may seem intimidating, but with the right resources and strategies, you can turn this challenge into an opportunity. Here are some practical tips for effectively navigating the Greek entrepreneurial ecosystem:

Leverage networks and communities

Greece has a dynamic and supportive startup community. Actively participate in networking events, hackathons, and conferences to connect with other entrepreneurs, investors, and mentors. Organizations like Found.ation and The Cube Athens regularly organize events that are excellent opportunities to develop your network.

Take advantage of coworking spaces

Coworking spaces have become essential innovation hubs in Greece. Places like Stone Soup in Athens or Coho in Thessaloniki offer not only affordable workspace but also an environment conducive to collaboration and idea exchange.

Explore acceleration programs

Acceleration programs can give your startup a significant boost. Initiatives like the MIT Enterprise Forum Greece or Metavallon VC offer intensive support, valuable resources, and funding opportunities.

Take advantage of government incentives

The Greek government has implemented various incentives to attract and support startups. The “Elevate Greece” program offers tax benefits, grants, and facilitated access to funding for registered startups. Make sure to explore all available options and register for relevant programs.

Adapt to local culture

Although the Greek startup ecosystem is becoming increasingly internationalized, understanding and adapting to local culture remains crucial. Take time to learn the subtleties of Greek communication and business practices. This can make a big difference in your interactions with local partners, customers, and investors.

Stay informed about trends and opportunities

The Greek ecosystem is evolving rapidly. Follow information sources like Startuppers.gr or GreeceThisIs to stay updated on the latest trends, funding opportunities, and regulatory changes affecting startups in Greece.

Consider regional opportunities

Although Athens is the main startup hub, other cities like Thessaloniki, Patras, and Heraklion are developing their own dynamic ecosystems. Explore opportunities in these regions, which can offer unique advantages in terms of costs, talent, or market niches.

By following these tips and leveraging available resources, you’ll be well positioned to successfully navigate the growing Greek startup ecosystem. Remember that perseverance and adaptability are essential qualities for success in this dynamic and constantly evolving environment.

Conclusion: Greece, Fertile Ground for Bold Entrepreneurs

Today’s Greece offers fertile ground for bold and visionary entrepreneurs. With its thriving startup ecosystem, favorable government policies, and enviable quality of life, the country positions itself as a prime destination for launching and developing innovative businesses.

Past economic challenges have forged a generation of resilient and creative entrepreneurs, capable of transforming obstacles into opportunities. This mindset, combined with an influx of talent, capital, and innovative ideas, creates an environment conducive to innovation and growth.

The diversity of funding options, increasing simplicity of administrative procedures, and support from the local entrepreneurial community make Greece an attractive choice for startups of all backgrounds. Whether you’re a local or international entrepreneur, Greece offers you the opportunity to realize your ambitions in an inspiring and dynamic setting.

However, as in any entrepreneurial ecosystem, success in Greece requires careful preparation, thorough understanding of the local market, and adaptability. By leveraging available resources, building a strong network, and staying alert to opportunities, you can transform your entrepreneurial vision into a thriving reality on Hellenic soil.

Greece is not only a country rich in history and culture; it’s also a land of opportunity for 21st-century entrepreneurs. As the country continues to reinvent itself and assert itself on the global technology stage, there has never been a better time to launch your startup in Greece and be part of this exciting entrepreneurial renaissance.