Much of the world isn’t paying close attention to Greece right now. That may be a mistake. Best known for its stunning islands, sun-soaked cities, and deep historical roots, Greece has been quietly laying the foundation for something far less expected: a modern, resilient tech economy.
While the international spotlight often misses it, something real is happening on the ground, as this editor discovered this week across dozens of conversations in Athens. The country that once stood at the precipice of economic collapse hasn’t merely rebranded itself as an “Innovation Nation.” It’s turning clever marketing into reality, with policy shifts, investor interest, and a renewed sense of purpose around technology and entrepreneurship.
Indeed, in a sit-down Thursday night with Greece Prime Minister Kyriakos Mitsotakis, he made the case that Greece is not just catching up, but poised to leap ahead. “There is significant room to grow,” he said, but he believes something very real is happening in his country. “The stars are aligned.”
Greece, Mitsotakis explained, made a “conscious decision” several years ago to expand beyond its traditional economic pillars like tourism and hospitality. “Tech could be 10% of our economy. This is perfectly doable,” he said, citing rising startup formation, increased capital flows, and an intangible but unmistakable “buzz” in the ecosystem. Drawing from his own background in venture capital—he founded Greece’s first incubator in 2001—he spoke with a fluency not often heard from heads of state.
While Greece may be arriving late to Europe’s tech party, that timing could actually prove to be an advantage. Because it didn’t have the capital to make bad bets, Greece has sidestepped some of the inflated valuations and failed ventures that have weighed down more mature ecosystems. With a relatively clean slate, the country is moving quickly to position itself at the forefront of emerging technologies – particularly artificial intelligence.
In AI, the Prime Minister sees a chance not just to catch up, but to skip ahead. “We want to use technology to leapfrog,” he said. “Not just to catch up, but to actually do better than many European countries.” He pointed to Greece’s success in digitizing public services – saying it had far exceeded even Germany in some respects – and to pilot programs like a Microsoft-backed AI system that slashed government contract review times from hours to minutes.
That dual strategy of nurturing startups while modernizing government forms the backbone of Greece’s AI ambitions. Mitsotakis envisions Greece as a laboratory for responsible innovation, particularly in areas like health, civil protection, and defense. “We’re not just talking about what the startup community is doing. We are the clients of the technologies. And we want to have more of a startup mentality as a government.”
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A major pillar of this transformation is talent. Greece is working to reverse the brain drain that saw thousands of skilled workers leave during the financial crisis. “The tax breaks are there – a 50% discount on income tax for seven years,” he said, but also acknowledged that “people are not going to come back just for a tax break. They will come back if they have a good job opportunity, if they feel they can do something rewarding, and that they can actually grow their business in Greece.”
To that end, we touched on two new programs introduced last year designed to bring skilled foreign workers and entrepreneurs into the country. While the initiatives are still in the pipeline, they reflect a broader commitment to openness. “This is a global war for talent,” Mitsotakis said. “We need to make it easy for either Greek talent to return or for people who can live anywhere to choose to work here.”
Mitsotakis also emphasized the importance of expanding tech beyond Athens, with hubs emerging in Thessaloniki, Heraklion, and other university cities. “This should also be a story about regional development.”
Still, the Prime Minister acknowledged ongoing challenges, including the pace of legal reform, the need for more late-stage capital, and the complexities of doing business across the European market. But what he believes Greece now offers, unlike during the depths of the crisis, is predictability, stability, and momentum. “Is this country moving in the right direction?” he asked rhetorically. “The answer is yes.”
For Mitsotakis, the ultimate goal is to make Greece’s progress “irreversible.” While legacy building isn’t his focus, he said, both Mitsotakis and the roughly 300 investors and founders who gathered for our sit-down – some of whom have happily moved back to Greece from the Bay Area, London and elsewhere – clearly want to ensure that the country’s progress continues apace.
“We can’t [perform] miracles,” says Mitsotakis. “We can’t make up lost ground in a couple of years. But I think we’ve broken out of the vicious cycle of the past, and I do see technology as a great opportunity, both for the private sector and for the government.”
You can catch our full interview with Mitsotakis below.
