A new program for the support of young innovative Greek companies is implemented by the Hellenic Development Investment Bank (EATE – ex TANEO) through funds from the Sustainability and Recovery Fund, in the context of the activation of the Equity Platform tool of the “Greece 2.0” project.
Through the “InnovateNow” program, € 100 million will be invested in new venture capital funds aimed at strengthening the ecosystem of start-ups, mobilizing at least as many other private funds.
The aim is to attract managers and private investors to make investments, but also to stimulate research and development (R&D) of cutting-edge technologies. Participants must have innovative characteristics and be active in rapidly growing sectors of the economy, such as. of information technology, biotechnology, microelectronics and contribute to the production process through the development of Cyber-physical systems, IoT, On-demand availability of computer system resources, cognitive computing, robotic applications, artificial intelligence, nanotechnology, genomics, cyberspace, big data analysis etc.
This program also gives impetus to the Greek University and Research Institutions, promoting in addition to the development of cutting-edge know-how, the country’s export activity.
The Deputy Minister of Development and Investment Mr. Giannis Tsakiris stated: “With the new financial tool” InnovateNow “and the contribution of the Recovery Fund, we are laying the foundations for further smart financing of innovative start-up technology companies. At the same time, we contribute to the escalation of research activity, while improving the business environment and the ecosystem of venture capital investments. “Our goal is to create even more suitable conditions for the repatriation of highly trained human resources, who left the country during the economic crisis.”
The President of EATE, Professor Mr. Haris Lambropoulos stressed that “” InnovateNow “frames complementary tools that have already worked, such as Equifund and others that have already been announced by EATE. In this way, we contribute to the creation of a new development framework for the young innovation in our country “.
Source: Capital
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