ICT

The ICT sector is one of the most significant in the Greek Economy, driven mostly by the demand for automation and digitalization in the Greek public and private sector.

Investing in the Greek ICT Sector

The ICT sector is one of the most significant in the Greek Economy, driven mostly by the demand for automation and digitalization in the Greek public and private sector.
 
Greece possesses a skilled workforce, educated in high-quality technical institutions with global experience and entrepreneurial talent. Adding to this is the focus that has been placed on the support of ICT initiatives through dedicated publicly- and privately-run structures (incubators, R&D centers, co-working spaces etc.) and the country’s solid ICT infrastructure.

The ICT sector in Greece offers several opportunities of investment in high-end, value added services with a global reach, leveraging the availability of skilled labor, the existing know-how and research capabilities, the strong IT and Telecoms infrastructure and the outstanding living and working conditions. Business opportunities such as the establishment of software development labs, or microchip and MEMS design centers, data centers and R&D labs can be established with full state support and staffed with highly qualified available employees so they generate high returns in a very short time. 

Overall, the number of ICT business opportunities is expected to increase significantly over the next years driven mostly by:
• the strong requirement to further automate and digitize the public sector, which is driven by several major public procurement projects in the ICT field
• the quick adoption of new technology by the Greek public, including for example new communication devices (smartphones, tablets), broadband telecommunications and smart TV
• the significant growth of technology clusters, incubators, accelerators and VC activity focused on new ventures in ICT, and the large number of entrepreneurs that are actively leveraging this infrastructure, with products such as TaxiBeat and Piniata already succeeding on an international scale
• the several innovation and research activities currently being pursued in Greek polytechnic institutions and public RTOs in such areas as cloud computing, location-based services (LBS), nanotechnology and intelligent systems

Recently, Greece became the center of several new investment initiatives announced by some of the largest companies in the global ICT industry such as Nokia, Microsoft and HTC.

Why Greece:
Skilled Workforce – Greek engineers have been included in the top 20 ICT human resources pool globally by the Economist and have topped the ITUICT development index. Also, more than 70% of the Greek population speaks English.
Attractive Funding Opportunities - Investments in the Greek technology market can benefit from several funding opportunities provided both from public sources such as EU structural funds and PPP initiatives as well as from private sources. One of the key objectives of the new National Strategic Reference Programme is the support of R&D, Innovation and new technology initiatives. The Public-Private Partnerships framework allows for the realization of bigger projects, mainly in the areas of automation of state processes, homeland security and the provision of ICT infrastructure for the public transport system.
ICT Infrastructure – Greece can cover all infrastructure needs for a major investment in ICT, including telecommunications (fixed, mobile, data), hosting and server facilities.
Research and education – Greece possesses an extensive network of Scientific and Technology Parks and Higher Education Centers. During the past years, Greece has seen the development of several new ICT clusters, incubators and accelerators.
Favorable location – Greece is the EU country with best access to Eastern ICT producers such as China, Japan and Korea. This favorable location, coupled with our logistics infrastructure and skilled labor, make Greece ideal for the establishment of assembly facilities for ICT products and devices.

Main investment opportunities
• Data centers
• Call centers / service centers staffed by English-speaking staff
• Software Product Development
• Assembly and distribution of ICT devices
• Start-up communities and development clusters

Key Figures

ICT as % of Greek GVA

4,1%

Market Turnover

€ 17.1 billion

Networks

ADSL, VDSL, some fiber

Number of companies in ICT sector

4.500

Internet penetration

56%

Broadband internet penetration

24%

Mobile phone penetration

170%

Smartphone sales in 2012

1.5 million

Number of ICT startups funded in 2013

29

Number of new ICT clusters and incubators launched

8

Key Links
General Secretariat for Research and Technology: http://www.gsrt.gr/
Foundation for Research and Technology (FORTH): www.forth.gr
Information Society Observatory: www.observatory.gr
Association of Firms in Communication and Information Technologies: www.sepe.gr
Association of Information Technology Companies of Northern Greece (SEPVE):http://www.sepve.org.gr/
Information Society: www.infosoc.gr
National Telecommunications Regulatory Authority: http://www.eett.gr/
Hellenic Semiconductor Industry Association: www.hellenic-sia.org

Greece
Business, naturally
Greece is the natural investment destination for businesspeople who want to be at the heart of the fastest growing region in Europe. The emerging regional market of 140 million consumers in Southeast Europe has a cumulative GDP of almost 1 trillion Euro. As the economic engine of the region and the only Eurozone member, Greece has a stable economic and political environment, has instituted significant reforms that are driving investment activity, has a highly knowledgeable and highly productive workforce, and has created a business-conducive environment, fueling strong growth. Greece’s economy has been one of the best performers in the Eurozone and continues to outperform the EU average. Many multinational companies choose Greece as their headquarters for Southeast Europe and the Eastern Mediterranean. With one of the most attractive lifestyles in the world, Greece is a spectacular location to live, work, and play.

Invest in Greece Agency
Invest in Greece is the official Investment Promotion Agency of Greece that promotes and facilitates private investment. Invest in Greece identifies market opportunities and provides investors with assistance, analysis, advice, and aftercare support free of charge.
Invest in Greece identifies potential partners, locates sites, assists in legal and licensing procedures, analyzes investment proposals, furnishes pertinent economic information, and fully explains incentives available to investors.
The professionals at Invest in Greece guide investors at every step of the investment process and provide essential support for ongoing operations or expansion projects.
Invest in Greece is committed to helping businesspeople discover the many opportunities in Greece, the gateway to Southeast Europe and the Eastern Mediterranean.


3 Mitropoleos Street, 105 57 Athens, Greece
Tel: +30 210 335 5700 | Fax: +30 210 324 2079
E-mail: info@investingreece.gov.gr | Internet: www.investingreece.gov.gr