Funding for Greece-based start-ups up more than 3-fold in 2021, at 4.5bln USD

Funding for Greece-based or Greek-controlled start-ups by domestic and foreign investors posted a new record in 2021, with the figure exceeding 4.5 billion USD, substantially higher than the 1.3-billion-USD total posted in 2020.

In fact, the same figure, 1.3 billion USD, was recorded for the specific sector during the two-year period of 2018-19.

According to the Federation of Hellenic ICT Enterprises (SEPE), the 2021 total is 10 times higher than in 2015, the “annus horribilis” for the Greek economy, and a whopping 87 times higher than in 2010, the first full year of the Greek fiscal and economic crisis.

For all of Europe, the figure increased by 159 percent, year-on-year, and 90 percent, worldwide.