‘Host-Up’ Project to Pave Way for Healthy Startup Ecosystem in Greece

In efforts to boost interaction among innovators, startups and organizations so that fresh ideas can materialize, The Boston Consulting Group (BCG) announced this week the launch of Host-Up Greece, an ambitious project set to work towards the creation of a strong startup ecosystem.

Vassilis Antoniades, senior partner and MD at BCG.

“As Greece evolves into a startup center with the support of Equifund and the European Investment Fund, legislative actions and innovative initiatives as well as the alliance of government agencies, large companies and universities are vital in order to spur into action the country’s ecosystem fostering newborn enterprises which is currently ‘under construction’,” Vassilis Antoniades, senior partner and MD at BCG, said during this week’s “Designing the Future with Investments” conference organized by the Hellenic Federation of Enterprises (SEV).

Antoniades presented a study carried out in Greece’s startup community by SEV and BCG, which identifies ways Greece can achieve the rapid development of the startup ecosystem by 2022 with the backing of Equifund.

He went on to note the obstacles including lack of applied skills, inadequate cooperation between large enterprises, universities and startups, young people’s fear of failure, a complex and restrictive economic environment, lead to a counter-productive market structure with time-consuming procedures.

Antoniades did however suggest ways to overcome the barriers, including establishing an innovation network with the involvement of universities, large businesses and startups; offering incentives and a friendlier taxation environment; harmonizing human capital with current market needs; and making flexible funding options available.

Founded in 1963, the Boston Consulting Group (BCG) is a global management consulting firm with over 80 offices around the world and a leading advisor on business strategy. BCG partners with clients from the private, public, and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises.