The German newspaper Süddeutsche Zeitung published an article entitled “The Greek Crisis is in the past” which refers to the large number of new, innovative Greek businesses, called start-up companies, that have shown great success both inside and outside Greece.
Radiojar, Travelplanet24, Taxibeat, Upstream and Workable are just a few examples of new businesses that have been established in Greece over the last few years. The German newspaper stated: “All the successful online companies are not solely supported by the Greek market. If people do not look for opportunities abroad there would be no successful new ventures.”
The term “Start-up” is synonymous with an entrepreneurial model which does not rely on the assistance of the state, but exploits new opportunities that have been presented due to the economic crisis.
More specifically, Start-up refers to “neophyte” private companies or any kind of corporate implementation of an ingenious and innovative idea, usually with the help of venture capital.
This is a model of entrepreneurship that was born in the U.S. shortly after the Second World War – when the Dean of Stanford University’s Engineering School decided to lease the premises of the university and convert them into a scientific park, in order to increase the institution’s revenues and create job opportunities for graduates. This type of company peaked between 1997-2000, which is significant because of the large number of start-up internet companies.
During the last five years, start-ups have become very popular in Greece because of the financial and cultural crisis, and their success is undeniable.