Frequently Asked Questions

  1. What is ELEVATE GREECE?

Serving as a gateway, ELEVATE GREECE is the official resource for in-depth information about the Greek Startup Ecosystem. It is an initiative launched by the Greek Government and intended to identify promising startups and support their growth, while nurturing a robust innovation ecosystem.

Our mission     

By mapping and supporting the Greek innovation ecosystem, particularly focusing on startups, Elevate Greece aims to make Greece a global innovation hub and a leader in Southeast Europe.

Elevate Greece will be implemented through a series of legislative measures to improve the regulatory framework for startups and support investments. This will be coupled with state-aid schemes, through the co-operation of startups with Official Partners, and through networking and community building activities.

Main goals:

  • Establishing an Official Startup Registry
  • Mapping the Greek Startup Ecosystem
  • Monitoring the progress of the ecosystem through monitoring reliable KPIs, and creating dashboards of metrics using metadata analysis
  • Networking opportunities
  • Helping investors discover innovative companies and the human potential supporting them

 

  1. What Does Elevate Greece Offer?

Elevate Greece is an innovative initiative by the Greek government. It aims at establishing a sound ecosystem to support the growth of startups.  The first stem in this direction is to implement an integrated/comprehensive policy: We are launching the National Startup Registry that all startups fulfilling the registration prerequisite conditions can enter. This way such enterprises can have access to benefits provided by the state and our official partners.  Furthermore, we are working towards creating an advanced portfolio of programmes and activities related to startups, which are to be announced soon. 

 

  1. What Is our Mission?

Our mission is to make Greek a top destination where one can live and set up their own startup enterprise. By implementing a range of legislative measures to improve the regulatory framework for startups and investors, we are laying the foundations to make Greece a global innovation hub.

  1. What is the National Startup Registry?

The National Startup Registry is the official record of startups in Greece. The Registry aims to monitor the progress of such enterprises by monitoring specific KPIs; the aim of the Registry is to support startups through benefits and assistance, and to serve as  a reliable resource for investors from Greece and abroad!

 

  1. What Are the Benefits for Startups?

Entering the National Startup Registry does not make an enterprise available for State-aid schemes and benefits available. Applicants will be evaluated on a case-by-case basis.

Benefits:

  • International Visibility
    Complete your profile – gain international visibility and promote your innovative products and services
  • Support Measures By The Authorities
    Stay tuned for state-aid schemes and other support measures by the Authorities
  • Funding
    Receive funding from Venture Capital Funds and Angel Investors
  • Networking Opportunities
    Exploit networking opportunities with innovation community players and explore synergies within the innovation ecosystem
  • Updates
    Receive updates on events and business missions
  • Job Openings
    Search for highly talented personnel through the platform

Who Is an Eligible Applicant?

Startups that meet the following prerequisites

  1. Operation
  • Legal form: PC or LLC or SA with headquarters within the Greek territory, or maintains a subsidiary company or a branch in Greece (Greek VAT number is required), in the case headquarters is are located outside Greece.
  • Does not exceed 8 years of full operation since their establishment, counting from the date of submission of the application for registration in the National Startup Registry.
  • Employ less than 250 employees Full-Time Equivalent during the last year of operation, as recorded through the ERGANI information systems of the Ministry of Labor and Social Affairs
  • The annual turnover should not exceed the amount of 50 million euros as recorded in the financial statements of the last fiscal year.

2. Startups also need to meet the following selection criteria:

A) Innovation

  • Τechnological innovation in the product / service and / or the existence of an innovative business model taking advantage of the latest technologies available.
  • Existence of few competitors (i.e. startups or large companies). It is clarified that the term “competitors” refers to companies offering solutions with similar advantages. The term “Competitors” does not refer to those firms addressing at the same market in general.
  • Innovative enterprises are also considered companies with primary activity in research and innovation aiming to patent intellectual Property Rights with prospects of commercial exploitation (“knowledge-intensive enterprises”).

B) Scalability

  • Evaluators examine whether the business model and/or technology allow for rapid scalability. The main company’s product/service is standardised, or may be easily, standardized. Consulting/design services or tailor-made construction are not considered as scalable.

Who Is a Non-eligible Applicant?

  • Teams with innovative ideas not yet officially registered (without a Greek Tax Identification Number)
  • Companies with a single owner (by statute)
  • Large companies (according to EU definition)

 

What is the Registration Procedure?

  1. How do I submit my application?

Applications are submitted online via the Elevate Greece Information System (https://registry.elevategreece.gov.gr/) – Download the instruction guide

  1. How do I cancel my application?

Please contact the helpdesk of GSRT at: https://registry.elevategreece.gov.gr/

  1. What are the obligations of a Registered Startup?

If your application is approved, you are expected to keep your profile updated. The startup profile must be updated twice a year (in June and December). If a company does not keep its profile updated, it is subject to penalties, and  may be crossed out of the National Startup Registry.

Who Are Eligible for the Fast Track Procedure?

If your company meets the eligibility criteria and, at the same time, falls in one or more of the following categories, the company’s application is eligible to follow a “fast-track” registration procedure. Just upload the documents certifying that: 

  • Venture Capital Funds from Greece and abroad, Banking Organisations and other institutional investors have invested in the startup
  • Spin-off companies of Greek Higher Education Institutions and Research Centers.
  • Companies funded within the context of HORIZON 2020 Programs (SME Instrument Phase I and/or Phase II), or with “Seal of Excellence”) and successor programs in HORIZON Europe.
  • Companies holding active patents from the European Patent Office and the US Patent Office.

1. How is my application evaluated?

Each application is subjected to an eligibility check in order to verify it is complete and meets the prerequisites for registration with the National Startup Registry. If the eligibility check is successfully completed, the application is forwarded to two evaluators randomly chosen. Each evaluator processes the application independently, based on the two fundamental selection criteria (innovation and scalability). If both evaluators give a positive response for both of criteria, the application is considered successful and the company is registered with the National Startup Registry. If there is a conflict between the two evaluator results, a third evaluator is assigned to determine the outcome for the applicant.

 

2. How do I track my application?

You will be notified about your application results by the GSRT (https://registry.elevategreece.gov.gr/)

 

3. If my application was not successful, may I apply again?

If an applicant is not admitted to the National Startup Registry, the enterprises may submit a new application at the next call for expression of interest.