The Greek Startups Environment 

Who doesn’t love Greece? Amazing beaches, delicious food, fine wine, friendly people, and the hot sun. But we have lost sight of the fact that Greece is also the birthplace of culture, innovation and technology.

It’s hard to imagine what would happen to modern society, or rather to its culture if there were no Greece. It was the birthplace almost all that we love and care about: mathematics and literature, the Greek alphabet and comedy, drama, drama, democracy and theater, as well as the Olympics. 

It was Greece who gave the world the beliefs and ideas that have profoundly influenced the development of all societies in every corner of the globe.

Modern computer technology must pay tribute even to Ancient Greece. It is hard to imagine science without Pythagoras. Modern theaters and movie theatres, actors, and actresses must be grateful for the first actors who performed comedy and drama in homage of the god Dionysus.

But, unfortunately, the country’s economy has not been able to reach a stable level in recent years. The country is currently in a prolonged crisis. It is not as bad, however, as many interesting startups have been established in Greece since the mid-2010s.

Marathon Venture Capital’s study found that the Greek startup sector has received $1 billion in investment over the past decade. In recent years, funds have been investing in Greek startups in increasing amounts. While some companies have their headquarters or representative offices in Greece, most of their employees remain in Greece.

If we add companies with Greek founders that are based in Greece to the $6 billion figure, it includes 608 startups from 2010 through 2020.

These companies raised $6Billion in 927 rounds of investment, which involved 790 investors.

There are many startups today that have a strong presence in Greece. Orfium, a startup based in Los Angeles with Greek co-founders is one example. It keeps most of its employees in Greece.

Magos is the most interesting startup in Greece today. Magos, a startup that was founded in 2017 and runs the Athens Digital Lab is focused on developing an exoskeleton gloves that can be used to create meta universes. The glove digitizes hand movements and sensations using sensors that produce vibrations and simulate touch in real life. Magos’s new tool is placed on the hand of a human to digitally depict its movements in a virtual or augmented reality environment. 

Metauniverses are changing the face of so-called immersive technologies. Virtual technologies have only interacted with sight and hearing until now. Magos, a Greek startup has invented a glove which allows you to touch the virtual universe. 

And who knows, maybe this will be the invention, which will bring Greece back to the world’s pedestal, and just like the letters of the Greek alphabet are widely used in geometry and physics, some of them are familiar to American college students through the names of fraternities and sororities, the Magos gloves will be a part of every meta-universe app. 

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