Looking at Greece’s entrepreneurs

April 10, 2012

Maybe it’s Instagram-size payouts or maybe it’s just pure desperation and a lack of good opportunities that drives someone to start a business in the middle of a recession. Either way, instead of protesting or moving away in search of work, a group of entrepreneurs in Greece are tapping into that same spirit and defying the odds to launch their own startups, NPR reports.

The Athens entrepreneurs, based around an incubator called CoLab, include at least one tech startup, BugSense, that has already raised capital from Silicon Valley. So while many tech startups, including those in Greece and those that launch during a recession, will never turn a  profit, it’s worth noting that a more than few startups have successfully launched during a recession.

For perspective, here are just a few of those companies that launched during hard economic times:

GEIBMMicrosoftApple. Oh and of course, Instagram.

Photo: A Greek presidential guard hoists the Greek flag in front of the Parthenon temple at the Acropolis hill in Athens October 3, 2010.  REUTERS/John Kolesidis



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It’s not only BugSense that is successful. Greece is also home to big mobile marketing players like Upstream, Velti and InternetQ. There are also startups that succeed globally like Helic, Gipht.me, Incrediblue, Weendy and others.

Posted by panosjee | Report as abusive

“Maybe it’s Instagram-size payouts or maybe it’s just pure desperation and a lack of good opportunities that drives someone to start a business …”

It’s neither of these! It is untapped talent that can no longer wait for the Greek market to wake up and smarten up – i.e. open up the market for young professionals to spin off, spin out, or start up (and create jobs). Young talent is tapping into its own abundance of skills, knowledge and ideas (most of the time overqualified for an under-qualified, receding market) and collaborating to kick start, create and map their futures. Why wait for tomorrow (“if” and “when” the market is ready for a new emerging generation of professionals and mindsets), when we are more than capable of doing something “now”. Just yesterday, I was reading the stats on EUROSTAT – we are top talent (unfortunately in a climate of negativity, finger pointing and labels, i.e. PIGS … hardly! And, no thanks!)

Posted by DespinaTsal | Report as abusive

Mr Peabody, looks like you got tipped for writing & mentioning only a handful of specific startups in Greece. As a journalist, you should have done your research better. That is in the case you care to provide your readers with a quality article that is also head and shoulders above the rest.

However, it’s just a shallow article with almost nothing to “take away”.

As one of fellow posters already mentioned, there is a good number of great startups from Greece. Here’s few: Babelverse, betcafe.com, tsoonami, etc.

Hopefully, you’ll investigate more for your next articles.


Posted by Roccosi | Report as abusive