National Startup Registry - Elevate Greece
Elevate Greece is an initiative of the Greek Government, aiming to map startup businesses and support their development, with the ultimate goal of fostering a strong innovation ecosystem.
The initiative begins with a digital portal through which Greek startups can apply for registration with the competent authority of the Ministry of Development and Investments, the General Secretariat for Research & Innovation (GSRI).
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The main objectives of the initiative are the following:
- Official and reliable registration of startup businesses
- Comprehensive mapping of the innovation ecosystem - networking
- Monitoring the progress of startups based on indicators (KPIs)
- Targeted support from the State
- Awards and specialized support from Official Supporters
- Promotion of extroversion and an attraction pole for investors
- Specialized job positions
International Visibility
Upon completion of your profile, gain international visibility and promote your innovative products and services.
Greece: The next major innovation hub in Southeast Europe
Leveraging a strong spirit of innovation and entrepreneurship, Greece’s public and private sectors collaborate through the Elevate Greece platform to conquer international markets and establish the country as an innovation hub in Southeast Europe.
Registry
About the Registry
The National Startup Registry is the official registry for recording startup businesses in Greece.
It aims to monitor their progress based on specific KPIs, support them with benefits and advantages, and act as an attraction pole for investors, both from Greece and abroad.
There are two registration methods:
- Fast Track, without evaluation, for startups with specific characteristics
- With evaluation by two independent reviewers
- Legal form of IKE, APE, SA with headquarters in Greek Territory, or with headquarters abroad, maintaining a subsidiary or branch in Greece, provided it has a Greek VAT number and is registered in the G.E.MI./General Commercial Registry
- Does not exceed 8 years of operation from the start date at the Tax Office before the application submission date for inclusion in the Registry. (e.g., a business founded on 23/12/2012 has the right to apply until 22/12/2020).
- Employs fewer than 250 employees in Annual Work Units (AWU) during the last financial year, the year before the application submission, as recorded in the ERGANI information system of the Ministry of Labor and Social Affairs.
- Annual turnover does not exceed 50 million euros as recorded in the financial statements of the last closed financial year. For example, if the application is submitted in 2020, the annual turnover for 2019 is also checked.
- There must be technological innovation in the product/service and/or an innovative business model based on recent (new) technology.
- There must be a very limited number of corresponding startup competitors or very few large companies in the sector. It is clarified that in this context, the term 'competitors' refers to businesses offering solutions with similar advantages, and not generally those targeting the same market.
- Businesses whose main activity is research aimed at producing intellectual property with commercial exploitation prospects are also considered innovative.
- It is evaluated whether the business model and/or technology allow for the rapid scaling of sales volume in the global market. The company's main product/service must be standardized or standardizable and not consist of providing consulting/study services, nor involve custom manufacturing.
- For 'knowledge-intensive businesses' (spin-offs), the business model may be based on the sale or exploitation of intellectual property in general.
If your company meets the eligibility criteria and, at the same time, falls into one or more of the following categories, you can register directly via the Fast Track process.
Criteria
- Businesses in which Venture Capital Companies from Greece and abroad, other institutional investors, and banking organizations participate in their corporate structure. Bank or other loans and investments from 'Angel investors' contributions are not taken into account.
- Spin-offs from Greek Higher Education Institutions and Research Centers
- Businesses that have secured funding in HORIZON
2020 programs, approval for 'Seal of Excellence', and in their successor programs in HORIZON Europe. - Businesses holding a registered and active patent at the European Patent Office and the US Patent Office (cumulatively).
