kathimerini.gr
Greek Startups Thrive: Pandemic Spark Ignites 555 Million Euro Funding Surge
In 2024, over 90 Greek startups raised 555 million euros in funding, with 80% of that capital concentrated in 10 companies. 8 out of 10 of these companies were founded during or shortly before the COVID-19 pandemic, highlighting the pandemic's impact on entrepreneurial activity.
- What is the primary impact of the COVID-19 pandemic on the Greek startup ecosystem and its attraction of global investment?
- During the COVID-19 pandemic (2019-2020), 80% of Greek startups securing funding this year were founded. Half of these funded startups are in their initial development phase, demonstrating a surge in entrepreneurial activity.
- How did the pandemic influence the types of startups attracting funding, and what sectors are currently leading in investment?
- The pandemic spurred a wave of Greek startups, many of which attracted significant investments in 2024. This trend reflects a growing global interest in technology, particularly in AI, biotechnology, and health sectors, as evidenced by the involvement of international investors like Alibaba and investments exceeding 555 million euros.
- What are the long-term implications of the increased investment in Greek startups, and what challenges might they face in the future?
- The increasing involvement of US (36%) and European (24%) investors in Greek startups signals a maturation of the Greek tech ecosystem. The ability of Greek startups to secure funding in later stages (Series C and D) indicates a growing confidence in their long-term viability and potential for scaling.
Cognitive Concepts
Framing Bias
The article frames the story around the success of Greek startups, particularly those funded during or after the pandemic. The positive tone and focus on large funding rounds might overshadow potential challenges and risks associated with these ventures. The headline (if there was one) likely would have further emphasized this positive framing.
Language Bias
The language used is generally positive and celebratory, focusing on success stories and large funding amounts. Phrases like "εμπνευση και… δημιουργικότητα" (inspiration and… creativity) and descriptions of high funding rounds contribute to a positive tone, lacking a more neutral perspective. While not overtly biased, it lacks the balanced language that would improve objectivity.
Bias by Omission
The article focuses primarily on successful startups funded during and after the pandemic, potentially omitting struggling startups or those that did not receive funding. This omission could create a skewed perception of the overall startup landscape in Greece. While acknowledging space constraints is important, including a brief mention of the challenges faced by other startups would improve balance.
False Dichotomy
The article doesn't explicitly present false dichotomies, but the emphasis on the success stories of startups funded during the pandemic might implicitly suggest a direct causal link between the pandemic and startup success, ignoring other contributing factors.
Gender Bias
The article mentions that 2.5 out of 10 startups were founded by women, which is noted as an increasing number. While acknowledging this, it lacks specific examples or deeper analysis of gender representation in different stages of funding or across sectors, which would provide a more comprehensive assessment.
Sustainable Development Goals
The article highlights a significant increase in funding for Greek startups, with 90+ companies receiving €555 million in funding. This demonstrates growth in the Greek economy and the creation of jobs within the startup ecosystem. The fact that many of these startups were founded during the pandemic showcases resilience and innovation, leading to economic growth. The involvement of international investors further boosts the economic impact and potential for job creation.