Information and Communication Technology

Information and Communication Technology

Investing in the Greek ICT Sector

The Information and Communications Technology sector is one of the most promising in the Greek economy, driven mostly by the demand for automation and digitalization in the Greek public and private sectors.
  
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 for 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, leading to 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 TVs
  • the significant growth of technology clusters, incubators, accelerators and VC activity focused on new ventures in ICT, and the large number of entrepreneurs, who are actively leveraging this infrastructure
  • 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

During the last years, Greece became the center of several important  investment initiatives announced by some of the largest companies in the global ICT industry such as Nokia-Siemens, Oracle and others.

The Greek startup ecosystem was brought into the spotlight during the financial crisis and it keeps growing ever since. In recent years, the Greek startup scene saw a stage of consolidation with new successes and a lot of balancing out. Greece is home to many aspiring entrepreneurs who are working on promising new ideas and innovative business models. During the last seven years, more than €250 million has been invested in Greek startups, some of which are becoming famous in international markets.

Why Greece

Skilled Workforce – Greek engineers are included in the Economist's global top 20 ICT human resources pool and have topped the ITU/ICT 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.  The framework for Public-Private Partnerships allows for the realization of bigger projects, mainly in the areas of automation of state processes, homeland security and 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, fiber-optic networks etc.), hosting and server facilities.

Research and Education – Greece possesses an extensive network of science and technology parks and higher education centers. During the past few years, Greece has seen the development of several new ICT clusters, incubators and accelerators.

Favorable Location – Greece is the EU country with the best access to leading Asian ICT markets such as China, Japan and Korea. This favorable location, coupled with our logistics infrastructure and skilled labor, makes Greece ideal for the establishment of assembly facilities for ICT products and devices.

Main investment opportunities

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

EXTERNAL LINKS

Foundation for Research and Technology (FORTH)

National Telecommunications Regulatory Authority

Hellenic Semiconductor Industry Association

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