Much of the world is currently overlooking Greece, but this could prove to be a significant oversight. Traditionally celebrated for its postcard-perfect islands, picturesque cities, and profound historical sites, Greece has recently begun turning heads for an entirely different reason—a rapidly emerging and remarkably resilient tech economy.
While global attention has been occupied elsewhere, within Greece’s borders a notable transformation has quietly taken shape. Conversations across Athens reveal that a country once teetering on economic disaster has done more than rebrand itself as an “Innovation Nation.” Instead, it has systematically acted on this vision, supported by policy improvements, increased investor interest, and a fresh, widespread enthusiasm for technology and entrepreneurship.
In a recent discussion, Greek Prime Minister Kyriakos Mitsotakis articulated his belief in Greece’s potential not merely to catch up, but ultimately to outpace many European counterparts in the tech arena. Mitsotakis suggested that technology could realistically account for ten percent of the country’s economy, a vision he sees as entirely achievable given the growing number of startups, expanding investment streams, and a palpable excitement within the local tech ecosystem. Drawing from direct personal experience—having founded Greece’s first incubator in 2001—Mitsotakis delivered insights with a refreshing candor rarely heard from political leaders.
Greece’s late arrival onto the European startup scene is proving valuable. Having initially lacked the resources to engage broadly during the earlier stages of Europe’s tech boom, Greece has avoided many pitfalls from overvalued companies and failed projects that continue to challenge more established European tech centers. Now, starting with what amounts to a relatively clean slate, Greece can rapidly pivot toward emerging technologies, particularly artificial intelligence.
AI, Mitsotakis explained, offers Greece an opportunity to leapfrog rather than merely catch up. Already demonstrating impressive achievements—like digitizing public services to an extent exceeding even Germany—Greece is rapidly adopting advanced technologies. One example is a Microsoft-backed AI project that has streamlined government procurement processes, reducing review times dramatically from hours to mere minutes.
This strategic approach combines startup encouragement with broad governmental reform. Mitsotakis envisions Greece becoming a testing ground for responsible innovation, particularly in fields such as medicine, civil protection, and defense. “We aren’t simply observers of technological advancement,” he emphasized. “We’re consumers of these technologies, aiming to adopt a startup mindset within our own administrative organizations.”
Attracting talent remains integral to this development plan. Greece is focused on reversing its historic “brain drain,” a challenge intensified by the financial crisis and subsequent emigration of skilled workers abroad. Significant tax breaks have been put in place—up to a 50 percent reduction in income tax rates over seven years—to entice expatriates and skilled international talent back into the Greek fold. However, Mitsotakis acknowledges incentives alone won’t suffice; the country must offer meaningful career opportunities, entrepreneurial support, and chances to genuinely build successful companies.
To address talent attraction head-on, Greece is implementing two new programs aimed explicitly at bringing skilled international entrepreneurs and workers into Greece. Though these initiatives remain in preliminary stages, their creation underscores Greece’s openness to global collaboration and casts the country as a competitor in the international war for talent. Mitsotakis noted this proactive stance in talent attraction isn’t limited to Athens, as technology ecosystems emerge across regions including Thessaloniki, Heraklion, and other university-centered cities: “This must also be a story of regional development,” he said.
The prime minister nevertheless acknowledges remaining challenges—including accelerating legal reforms, securing more substantial late-stage investments, and navigating the complexities of operating within Europe’s diverse markets. Yet, crucially, he maintains that Greece now offers predictability, stability, and genuine forward momentum: “The question we have to ask ourselves is this: Is Greece heading in the right direction? The resounding answer is yes.”
Ultimately, Mitsotakis frames Greece’s current economic and technological progress as a profound, irreversible shift rather than a temporary trend. While legacy isn’t his chief aim, the prime minister, along with hundreds of founders and investors returning to Greece from places like Silicon Valley and London, shares a strong determination to ensure these gains aren’t fleeting.
“We can’t expect miracles—we can’t erase decades of lost ground overnight,” Mitsotakis acknowledged. “But we’ve certainly broken free from a destructive cycle, and technology represents a unique, transformative opportunity for both the private and public sectors.”
