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Innovation Fund in Greece

The General Secretariat of Research & Technology (GSRT) announced the plan to establish a private & public joint fund with a 30 million euro captital (21 million from the state) to invest in private companies that promise technological innovation in the following 5 sectors:

  • Health & Biotechnology
  • Food & Agriculture
  • Energy
  • Environment
  • Nanotechnology & Advanced Material
The funding will be provided in the following forms:
  • seed funding for startup ventures: ranging from 40.000€ up to 250.000€ per business plan
  • rampup funding for ventures: ranging from 250.000€ up to 1.500.000€ per business plan

The implementation of the Innovation Fund will be through the creation of joint funds, following an official public request for expression of interest from private funds from Greece or EU.

Update

The initial public consultation for the initiative is here -> Οδηγός Εφαρμογής, however it has signifcantly changed. According to unofficial info, the initiative will be made official in the next few days and within the next 2 months it will be setup. The body behind the execution of the initiative is TANEO.

Further details (in Greek) are available here -> ΓΓΕΤ: Ανακοινώσεις – Δελτία Τύπου, ΤΑΝΕΟ: Ανακοίνωση.

11th International VC Forum in Athens

VC_Forum_logoBetween the 5th & 6th of April 2011, the annual international VC forum will convene at the Grande Bretagne Hotel in Athens. This is the 11th International Venture Capital & Private Equity Forum event, aiming to bring together representatives from the international business and financial industries. The event stands out in the Southeastern European region and has a track record of ten years in supporting ambitious and dynamic entrepreneurs, business oriented researchers and new technology-based firms. The participants are expected to be Businesspeople, researchers, policy makers and Venture Capital & Private Equity firms. The event will provide a frame for the participants to present their business ideas and discuss equity financing opportunities in one-on-one private meetings.

If you have a business idea / business plan and you are seeking investment capital, it may be a good idea to submit it to the forum. A special web site is available for this, your deadline is the 28th of February. If your proposal interests the funds, then an invitation will be sent for bilateral discussion, no later than March 25th. A template for the proposal is available here.

The Forum is co-organized by the Hellenic Venture Capital Association (HVCA)Invest in Greece Agency and PRAXI/HELP-FORWARD Network, coordinator of the Enterprise Europe Network – Hellas.