Chr. Dimas: Greece is an attractive destination for investments in the Research and Development sector

The assessment that the Greek technology ecosystem is constantly evolving and that our country is now one of the most attractive destinations in Europe for investment in Research and Development, said the speakers of the panel “Tech R&I Challenges and Incentives” at the Emerging Tech Forum organized by HETiA in collaboration with Tsomokos.

The panel coordinator Stelios Sypyrakis, Head of Research & Development and Government Incentives, Deloitte Greece, stated that the Research and Development sector is a catalyst for the development of the Greek economy and the creation of well-paid jobs. He noted that the incentives now given to companies in order to proceed with further investments are in the right direction, however our country needs to modernize and improve its education system so that the thousands of graduates are ready for high-quality employment and at the same time to have a connection with the labor market. It is therefore necessary to introduce to the Universities compulsory courses and internships related to the investment needs that Greece wishes to attract. He also noted that the Greek market has benefited greatly from the creation of Research & Development centers, which will upgrade the labor market and bring with them experience and practices for the implementation of innovation.

Christos Dimas, Deputy Minister of Research & Innovation, noted that it was “essential to make a clear record of the ecosystem in Greece so that we can produce policies that will help the ecosystem grow so that new services, products and of course new well-paid jobs are created.” “. Mr. Dimas added that now Greece is one of the most attractive destinations in Europe for investments in the Research & Development sector and we expect in the coming years the investments to reach 300 million euros. At the same time, the Undersecretary stressed that efforts are being made to further simplify procedures, such as over-deductions of expenditures, in order to support the development and operation of the ecosystem, and added that the Recovery Fund is a great opportunity for companies and the country’s economy. Mr. Dimas mentioned how the main goals are to increase the extroversion of the ecosystem, the concept of entrepreneurship to enter the Universities and research centers and to have a connection of companies with the educational community.

For his part, Babis Bakolias, Country Manager, Ansys, stressed that despite the fact that there are many more problems in the Greek market, lately moves are being made that will favor the ecosystem development environment, such as the creation of Elevate Greece and institutionalizing an investment framework with enough incentives for such efforts. Noting the NSRF programs, they are essentially “financing tools” rather than “incentives”, and benefit companies that want to build relationships and partnerships with research institutes, while also covering some cash gaps, which are not uncommon in small businesses. He added that one of the drawbacks of these programs is the way in which the NSRF funds are distributed, both in relation to the thematic units and geography (regional distribution). He characteristically stated that it would be desirable to introduce minimum quality thresholds so that poor and low-rated investment proposals are not selected due to the geographical or thematic distribution, because the financing of bad proposals ultimately harms the ecosystem rather than benefits it. He noted that offsetting R&D spending at wage costs is crucial to attracting multinational R&D investment to create large research centers that will attract repatriated scientists and around which startups will thrive.