HOUR Athena continues to hold the scepter of the ecosystem startups having brought together the largest number of startups, the capital is no longer a one-stop shop for startups. In recent years, Central Macedonia and Crete have become a pole of attraction not only for start-ups, but also for multinational companies developing technologies in these areas. According to the findings of a study prepared by Ioanna-Sappho Pepelazi, professor emeritus at the Athens University of Economics and Business, which evaluated data recorded in Regional Innovation Scoreboard and to Elevate Greece platformof the approximately 664 startups registered in the national startup registry by November 2022, 454 are located in Attica, followed by Central Macedonia (92) and Crete (42).

Although Central Macedonia and Crete still dominate the innovation business, they are gaining momentum.

Athens is a gathering place for startups as 68% of all startups in Greece are located in the capital. In second place is Central Macedonia with 14%, Crete is third with 6%, and fourth is Western Greece, which accounts for 3% of all start-ups in the country. Of course, there are also regions where there are less than ten startups. Among them are Eastern Macedonia and Thrace, Epirus, North Aegean, South Aegean, Western Macedonia, the Ionian Islands and the Peloponnese. The life sciences (medical technology, biotechnology), the environment (energy green technology), and the hospitality and tourism sector are particularly popular sectors, with about 30% of registered businesses active in them. As for manufacturing, which Western countries are returning as an important element to their agenda for a new development model, only 35 start-ups across the country are active in this sector. At the same time, the study notes that many companies are created with equity capital, while less than half, at least in the earliest stages of development, received external financing.

Athens does not hold the reins of the ecosystem just because of the number of start-ups that gather in the area. It is also a hub for many organizations that support startups. For example, out of 27 incubators (startup development sites), the majority are located in Athens, eight are based in Thessaloniki, two in Patras, one in Crete, one in Trikala, another in Larissa and one in Lesvos. At the same time, out of 30 start-up development accelerators, only four are located outside of Athens.