Greece faces a scaleup gap that could slow economic shift

Greece has many new businesses but a shortage of growing scaleups—firms that expand rapidly and compete internationally. Analysts say this gap could limit the country’s ability to shift its economy toward more advanced, research-intensive industries.

What changed in the scaleup landscape

According to a Greek business analyst, Petros Lazos, the main issue is not the creation of startups but the difficulty in expanding medium-sized firms into competitive international players. Greece reportedly maintains a high rate of startup formation, yet the number of scaleups per million people remains well below the European average, signaling a bottleneck in growth rather than in entrepreneurship.

Key facts to know

- Startups per million inhabitants in Greece: reported as 612, above the EU average of 502.
- Scaleups per million inhabitants: about 4.3, lower than the European average.
- The claimed barrier is the ability of existing firms to grow, obtain funding for R&D, acquire overseas competitors, or build international sales networks.

Who is affected

The issue touches early-stage firms that want to grow beyond local markets, investors seeking scaled opportunities, and workers who might gain from more advanced, export-oriented companies. If scaleups fail to form or expand, national economic diversification toward higher-value industries may proceed slowly.

Practical next steps

Policy and business measures that could help include: (1) increasing access to growth capital for mid-sized firms (venture funding, government-backed guarantees); (2) improving R&D funding and tax incentives to encourage product development; (3) creating international marketing and distribution networks to help firms reach overseas customers; (4) strengthening programs that support scaling operations, such as mentorship, management training. Export readiness. Researchers and policymakers should monitor whether these steps raise the number of Greek scaleups relative to startups over time.

Information and responsibility notice: This article is general information based on the cited material available when published. It is not legal, tax, immigration, medical, financial, banking, or investment advice; it does not create a professional-client relationship; and it is not a guarantee of outcome, availability, accuracy, or eligibility. Rules, schedules, prices, and third-party information can change. Confirm material decisions with the relevant authority and an appropriately qualified adviser before acting.