The Greek Innovation Ecosystem saw a record-breaking year in 2020 reaching €455M in capital raised, an increase of 71% from 2019. It also brought a growth of 30% in new jobs, which is an optimistic sign that the Greek ecosystem is reaching a maturity stage. Following this phenomenal growth, Endeavor’s ScaleUp program welcomes 17 new highly promising companies, founded by Greek entrepreneurs around the world. Our Batch 3 companies have already made a significant impact with an increase in funding rounds by 17%, in comparison to the last, as highlighted in our Greek Tech Revolution Report.
Our program is tailored to support the growth of ScaleUps; innovative companies that can create high-impact success stories. They are at a Seed or Series A funding phase, and their high-impact entrepreneurs can generate new jobs and a multiplier effect in the local and global economy. For the selection of the new batch, Endeavor put together a panel that consisted of 41 world-class executives from companies like Facebook, American Express, and Microsoft. The panelists were looking for entrepreneurs that lead businesses with significant growth potential at an inflection point, that will enable scalability at a regional or global level and the creation of large-scale impact and new jobs.
There are now a total of 41 companies participating in the ScaleUp Program! In the program, entrepreneurs have access to strategic guidance from expert mentors around the world, access to investors through the international Endeavor investor network, support in expanding to new markets, and the organization’s cooperation with universities and businesses internationally, to attract talent. ScaleUp’s batches have found huge success as the participating companies have attracted €250M in investments, increased the number of jobs created by 35%, and grown in revenue by 60%.
The 3rd batch consists of the following members: Advantis, Anodyne, Arrikto, Better Origin, Billfront, Causaly, Classter, DCI, Green Panda, Instacar, Manual, Numan, Prosperty, Sync, TileDB, Vimachem, and Voda.ai. A noteworthy observation in this cohort goes to the addition of 6 companies in the health tech vertical, which has seen immense growth in the past years.
“With the addition of the new batch, Endeavor ScaleUp now supports 41 companies in different technological sectors, 50% of which are located abroad, making Endeavor ScaleUp an international community of promising companies for Greece” stated Anna Natsvlishvili, Innovation Programs Manager at Endeavor Greece.
The Greek Innovation Ecosystem is booming and there is a growing ambition for Greece to become a major technology hub, with world class tech entrepreneurs that in collaboration, positively impact Greek tech. With dozens of new startups being founded or launching operations in Greece, Endeavor Greece is excited to be a part of the evolving ecosystem. Through our ScaleUp program, we bring together entrepreneurs who are based all over the world, that want to make an impact on the Greek economy through the making of their success stories!