A complete financial framework, the connection of technology with entrepreneurship through programs of research centers and universities, the improvement of infrastructure, the reduction of employer contributions, the investment of institutional capital, but also the creation of a startup visa for residents abroad who they want to operate in Greece. These are some of the requests of the leading venture capitals in Greece, in order to strengthen investments aimed at the development of the ecosystem. Requests developed in the Special Standing Committee on Research and Technology of the House.

The invited speakers from the venture capital funds active in our country emphasized that start-up entrepreneurship is a national asset. That is why it is worth strengthening investments with the aim of developing the ecosystem within the next decade, reaching 10% of GDP.

For his part, the Deputy Minister of Development and Investments, Ioannis Tsakiris, announced that 100 mill. euros from the Recovery Fund will strengthen such funds. Purpose to finance Early-Stage businesses, which are at an early stage. He also committed to supporting start-ups. As he emphasized to contribute significantly to the country's GDP, as a good alternative to sectors of the economy that are easily affected by natural disasters and other circumstances.

The chairman of the Commission and Member of Parliament of the ND, Professor Christos Tarantilis, focused on the added value that innovation produces for the country with internationally competitive products and services. As with the creation of jobs, which can reverse the phenomenon of the leakage of Greek scientists abroad.

What the VCs reported to the Parliament on venture capitals

Markos Veremis (Chairman of SEV Innovation Committee, President of Upstream, Partner Big Pi Ventures, President of Junior Achievement)

The first guest speaker, Mr. Markos Veremis, demonstrated the country's deficit in venture capital funds. In this context, he compared the only 6 Greek with the approximately 500 in Israel. Finally, he emphasized that Greece lacks a complete financial framework. A framework that will have the necessary disposition for risk and clearly larger investments. In this way, the needs of a company will be met at all stages.

Konstantinos Lavkas (Partner Uni.Fund)

Mr Constantine Lavkas explained how they work Venture Capitals and stated that their contribution to economic development is clear. They intensify business acumen, they create healthy competition, synergies and jobs. In addition, he noted the need to create appropriate conditions around research centers and universities. Conditions that will connect through educational programs the entrepreneurship with technology.

Myrto Papathanou (Co-Founder and Partner Metavallon VC)

Mrs. Myrto Papathanou referred to the challenge of venture capital funds to invest capital in cutting-edge companies that have developed something truly innovative, taking on the risk of supporting them to develop mainly in the commercial sector. As he characteristically noted that "innovation without commercial exploitation does not exist".

George Dimopoulos (Co-Founder of Venture Friends)

Mr. Giorgos Dimopoulos referred to more general improvement actions that must be taken:

• better infrastructure
• reduction of employer contributions
• institutional capital investments
• changes in university curricula

Dimitris Kalavros-Gousiou (Co-Founder and Partner Velocity.Partners VC, Co-Founder Found.ation)

Then, Mr. Dimitris Kalavros-Gousiou pointed out that in recent years there has been support for the innovation ecosystem (Jeremie and EquiFund initiatives, Hellenic Development Bank). But we can now, by ensuring the investment confidence of private investors, "unlock more private capital".

Georgios Tziralis (Partner Marathon Venture Capital)

Finally, Mr. Georgios Tziralis pointed out that we need to attract more workers in the field of innovation. He even proposed the creation of a Startup Visa for non-EU residents. who wish to operate in our country.