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Greece Is Becoming A Huge Startup Incubator…
http://www.businessinsider.com/ |

…Despite Economic Crisis

via: http://www.businessinsider.com/

Athens (AFP) – A taxi-tracking tool, a head-hunting engine and a vertical gardening company — all business startups that have paradoxically emerged from a Greek economy long in the doldrums.

Faced with the worst unemployment wave in living memory, Greece’s youth are turning away from the traditional pursuit of civil service or family-centered jobs, and towards innovation and foreign funding.

“If I can make it here, I can make it anywhere,” muses Petros Boskos, a 35-year-old architect.

Alongside two of his friends, Boskos created Verdical, a company designing “vertical” gardens for the sides of buildings.

“It was basically my last chance to stay in Greece,” he told AFP on the sidelines of a business innovation fair in Athens earlier this month.

Until recently, most Greeks fresh out of university contemplated life-long job security in a civil service post, or guaranteed employment in their family-owned business.

But that’s no longer an option.

From ‘daddy’s store’ to innovation

The four-year Greek economic crisis killed off thousands of small and middle-sized companies, and staff cuts and hiring freezes imposed by the cash-strapped state has made new public sector hirings all but impossible.

One in two youths under 25 is currently out of work.

“The public sector and daddy’s store have lost their sheen,” says Aristos Doxiadis of Openfund, a venture capital fund…

source/Read more: http://www.businessinsider.com/

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