Newsletter

Innovate in Greece by SEV & Endeavor Greece

From the field to robo-tractors and the $110m exit

George Varvarelis discusses with Marco Veremis about the success of his company, the difficulties he faced and his ultimate goal.

The founder and CEO of Augmenta discusses his student days, the support he received from his university, his experience in America and his end-goal of leaving a positive footprint.

As he says, selling the company was not an easy task, however it was an important step towards achieving his goal.

Watch on
YouTube

Listen on
Apple Podcasts

Listen on
Spotify

Listen on
Google Podcasts

According to a recent OT article, the Greek startup ecosystem is accumulating capital, investments, maturity and experience with Greek startups showing a very promising course. In difficult times, start-ups are investing steadily in innovation, attracting considerable capital from abroad, especially from the US.

Foreign direct investment (FDI) in Greece has increased sharply over the last three years compared to the previous period, according to the latest Organisation for Economic Cooperation and Development (OECD) report "FDI in Figures”. From an average of 4.15 billion dollars in the three-year period 2017-2019, it reached 6.7 billion dollars in the three-year period 2021-2023, marking an increase of 62%.

Lambda Automata announced the acquisition of Smart Flying Machines, a manufacturer of autonomous aerial vehicles. With this acquisition, Lambda Automata will continue to develop the systems, networks, and hardware to defend European democracies and their allies and will help build the technologies that will keep Europe safe.

Thessaloniki-based Loggerhead Ventures Fund recently announced two investments during the Beyond 2024 exhibition. The fund announced that it will direct its first investments, €300,000 each, to SmartLoC and Caroo.

Orbito travel, the first online travel platform based in Greece for travellers with disabilities and limited mobility, has successfully completed its first round of funding, securing €125,000. The funding was coordinated by Investing for Purpose

Harbor Lab has raised a €14.7 million Series A funding round led by European VC Atomico. With participation from existing investors Notion Capital, Venture Friends, SpeedInvest and The Dock, and new investors Endeavor Catalyst and maritime VC TMV, the round takes total funding for the Greek startup to some $22.5 million.

Representatives from 15 start-ups and research centres were welcomed at the premises of BARBA STATHIS, as part of the Business Day organised by SEV on April, 5, with the aim of directly linking its member companies with the innovation ecosystem.

Ten innovative Greek companies exploring ways to enhance their level of digital protection held 38 B2B meetings with 13 startups and spin-offs to explore synergies and discuss partnerships at SEV's 14th Innovation Ready thematic workshop for cybersecurity and digital safety.

Two new funds join the domestic venture capital ecosystem contributing a total of €75 million. According to reports, these are the Apeiron Ventures Fundwith approximately €25 million, and the IGrow Venture Capital Fund, with €50 million. The funds are activated with the participation of the Hellenic Development Bank for Investments - EATE.

With significant funding from the National Resilience Recovery Plan Greece 2.0, Archimedes was established as a unit of the Athena Research Centre. Archimedes is a great success for the Greek scientific community, offering new research opportunities and creating a global platform for collaboration and exchange of ideas for education, research and innovation in the fields of Artificial Intelligence, Data Science and Algorithms. Article by Timos Selis.

Do the conditions exist for the re-industrialisation of Greece? And what are the challenges that Greek industries must face to become internationally competitive and act as catalysts for the growth of our economy? Maggie Athanassiadi, Director of industry growth, technology and innovation at SEV, and Thanos Mavros, Partner / Consulting Services CESA Head Operations & Supply Chain at EY discuss at economia.gr.

A gigafactory for the production of lithium battery cells is being prepared by Sunlight (member of the Olympia Group) in Kozani, in an investment estimated at €1.5 billion and estimated to create 2,000 jobs.

Dimitri Iossifidis is a co-founder and CEO of Greener than Green Technologies, a startup developing technologies and processes for the circular usage of water and resources in the industrial sector, aiding the transition towards more circular manufacturing and production models. Dimitri studied Chemistry at the University of Reading before pursuing postgraduate and doctoral studies in chemical analysis at Imperial College. We met with Dimitri to learn more about the company and his journey. Here's what he told us.

Hellenic Federation of Enterprises - SEV is organizing the 15th Innovation Ready, a matchmaking event about Artificial Intelligence and its applications to the industry and the large enterprises. The event will feature 1-on-1 meetings between the industry, big enterprises, startups, and university spin-offs and is scheduled for July 10. For more information please email us.

With the aim to highlight the opportunities for the country, the benefits for Greek businesses, as well as good practices in the integration of AI solutions, SEV is organizing an open event "People and Business in the Age of Artificial Intelligence", on Monday 3 June 2024 at 17:00. Register here.

Interested in a job with a fast-growing Greek startup? Are you a Greek startup looking for the right people to hire?

Check IG @WORK

Do you want to get involved in the Greek innovation ecosystem?

Join Innovative Greeks

Tell us what you want us to cover in the next issue, and who to interview or invite to speak at one of our next events. Get in touch at info@innovativegreeks.gr

Want to stop receiving emails from us? You can unsubscribe here.