Investors and technology companies from Israel look ‘deeper’ at the Greek innovation ecosystem

Israeli-Greek Chamber: Investors and technology companies look “deeper” at the Greek innovation ecosystem

Israeli investors, technology companies and entrepreneurs are examining the Greek innovation ecosystem “deeper than before” today, as a number of factors, such as the lack of software engineers in Israel and the strategic geographical location of Greece, create a “sound horizon”. “for their expansion in our country. Speaking to the Athenian / Macedonian News Agency (APE-MPE), Cobi Bitton, CEO of the Israeli-Greek Chamber, based in Tel Aviv, expressed this assessment, who “sees” the prospect of possible collaborations in the field. cyber security, where Israel is a leading power, attracting 40% of global investment in the industry.

“Today you can see Israeli companies looking at action development in Greece, through the acquisition of local companies, exploring the possibility of developing new activities or improving existing ones, joining cooperatives and setting up representative offices – this is much more than The situation (lack) of software engineering in Israel, the level of wages in Greece, which are still far from the corresponding means in Israel, the cost of living in general, the fact that your country is a gateway to Europe , Africa and other countries, the relative political stability, the current development plans of the Mitsotakis government, the changes in the regulatory framework and the significant investments in the development of infrastructure and transport, the deepening of the tourism industry, the intention to improve the agricultural sector and the current government statement on the development of Greece into a regional investment center, create a healthy horizon for the Israeli investor and businessman. “This allows us to expand and develop into a country that accepts the Israelis as brothers.”

How the new “Dogma of the Region” stimulated relations with Greece

According to the CEO of the Israeli-Greek Chamber, the positive change in relations between the two countries over the last decade is remarkable. The crisis in Israel-Turkey relations, Mr. Beaton points out, has prompted his country to reconsider its regional alliances. This is because in the 1990s and early 2000s, close relations with Turkey were the pillar of Jerusalem’s Middle East strategy. In this sense, the strengthening of Greek-Israeli relations is part of the new embodiment of the Israeli “Doctrine of the Periphery”. At the same time, there is no doubt that the global financial crisis of 2008 and the crisis “Greece’s debt were factors that pushed Greece to reconsider its policy.”

Mr Beaton added that the discovery of gas fields had provided a strong impetus for closer co-operation, albeit mainly between Israel and Cyprus, but that Greece also wanted to play an active role in energy relations. “Export (gas) opportunities in EU markets made closer co-operation with Greece an attractive option, which became more apparent when it became clear that the Israel-Turkey pipeline was a less likely alternative,” Beaton said. adding that the good relations between the two countries in the Mediterranean have generally formed fertile ground for closer cooperation between businessmen, investors, opinion leaders and their political leaders. “The change of government in the two countries, in Greece in 2019 and in Israel in 2021, has strengthened – and probably will continue to do so – these factors,” he added.

The geographical proximity, the two flight hours, the Greek culture and the “lingua franca” of the businessmen

What makes Greece a “smart” destination for expanding Israeli business? “International development tends to be a critical target for Israeli start-ups, because Israel itself has some inherent limitations – namely, that raw materials and energy sources are in short supply and that the Israeli market is relatively small. Greece offers many attractive qualities for Israeli companies wishing to operate internationally, such as political stability, as well as geographical proximity. Some Israeli companies choose to expand in the US, which may be a smart move. proximity also means that they operate in similar time zones, but also that the two flight hours, with a few airlines, facilitate operations between Israel and Greece, but also from Greece to neighboring countries and many third countries “, he notes.

Also, an attractive feature of Greece, which attracts Israeli investors, is the cultural adaptability: “Israeli companies are familiar with Greek culture and adapt easily to this cultural climate. It is also noteworthy that many Israelis speak English as a second language and “English acts as a” lingua franca “in the business sector in Greece”, says Mr. Beaton and adds that another positive factor is the possibility of developing research and Development collaborations and grants in Greece as part of a united Europe.

In what areas of cybersecurity could there be Greek-Israeli cooperation

Israel has extensive expertise in the critical field of cybersecurity and is home to some of the strongest companies in the Middle East. How is Israel developing in this field and what kind of collaborations with Greece and Greek companies would be desirable and possible? “Intelligent decisions and the need for protection have made Israel a world leader in cybersecurity, with 40% of all investment in the industry being made in the country. The Israeli government has set a vision for Israel to be a leader in using cybersecurity as a locomotive “In addition, Israel’s national cybersecurity strategy aims to ensure the country’s role in the international arena, as a leader in technological innovation and as an active partner in global cyber shaping processes.” .Biton.

He added that the state of Israel views international cooperation in the field of cybersecurity as a critical element for the existence of a cyberspace that operates as a safe, free and global sphere of activity. And this at a time when the pandemic has intensified cyber threats, with the top five of them globally related – as he says – to ransomware, supply chain attacks, attempts at (malicious) influence, critical infrastructure and the growing role of Artificial Intelligence.

Asked in what areas he “sees” desirable and possible cooperation between Greece and Israel in the field of cyber security, he spoke of synergies between government cybercrime authorities, to encourage and support business cooperation aimed at jointly developing tools and solutions ( cyber-attacks), as well as for the establishment of joint training centers. Another area of ​​cooperation could be, according to Mr. Beaton, the creation of a joint fund by the governments of the two countries, which will support Greek, Israeli and EU companies, with the aim of protecting assets, virtual and physical borders and the national infrastructure of the countries, the better information of the citizens and the early diagnosis of attempted invasions and attacks, from elements that are either hostile or seemingly friendly.

Source: Capital

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