European Commissioner for Innovation Iliana Ivanova in Athens

The Deputy Minister of Development, Zoe Rapti, met with the European Commissioner for Innovation, Research, Culture, Education, and Youth, Iliana Ivanova on the latter’s visit to Greece on Monday.  During their meeting, they announced the establishment of the European Innovation Council’s (EIC) “Trusted Investors Network” and the launch of the EIC Scaling Summit.

The goal of the Trusted Investors Network is to bring together an initial group of venture capitals who are committed to co-investing with the EIC Fund aiming to support the growth of innovative deep-tech companies across Europe.

The establishment of the Investors Network is considered a milestone for the European innovation landscape as it is expected to play a vital role in mobilizing capital and addressing one of the primary challenges startups face: financing.

The Network’s goal is to link national initiatives and European programs and institutions, such as the EIC. By facilitating co-investment opportunities and enabling startups to collaborate with investors across Europe, innovation is given the opportunity to flourish.

Deputy Minister Rapti highlighted the fact that Greece is making significant strides in innovation. “According to the 2024 European Innovation Scoreboard, we are rapidly closing the gap with the EU average, achieving a notable +10% improvement in our innovation performance.”

Rapti further highlighted strategic initiatives implemented in Greece to support innovation, such as the establishment and operation of the National Startup Registry, Elevate Greece S.A. and the creation and upgrading of research infrastructure funded by the Recovery and Resilience Fund.

In addition she mentioned the introduction of new and expanded tax incentives announced by the Prime Minister to boost innovation investments, and the ongoing “Research-Innovate” program, promoting synergies between research centers, academic institutions, and businesses.

Finally, she referred to the success of Greek startups within the EIC Accelerator funding program, which highlights the impact of these efforts.