The Greek Tech Finance Network hosted on November 13, 2020 the Mantis Business Innovation team, creators of the Elevate Greece platform for startups maintaining a presence in Greece, who gave a detailed presentation on the registration process and benefits to be provided via the platform.

The Elevate Greece platform is expected to serve as a national startup database. So far, there was no registry that tracked the startups operating in different sectors but sharing the same tech-enabled, fast-growing characteristics. Through the platform, the users will be able to browse startups or jobs and the startups will be able to apply to different benefits, including those that will be offered by the government as incentives for the sector.

We are sharing with you this step-by-step registration guide which includes the below basic eligibility checks:

• Entity incorporated with a Greek VAT number

• Headquarters in Greece or overseas, with branch or subsidiary based in Greece 

• Less than 9 years old

• At least two partners/shareholders

• Less than 250 FTEs (data cross-checked through ERGANI)

• Less than EUR 50m turnover

In the presentation materials, you will find specific instructions for companies that have their headquarters abroad and maintain a fully-owned subsidiary based in Greece. Such company structures are often set up as Single Member Companies (I.K.E.). In these cases, the registration is based on the Greek Single Member Company, under its Greek tax registration number (VAT-AFM). Although in general there is a requirement for any company to have at least two shareholders, there is an exception for the case above where the single shareholder is a foreign entity. In the shareholders field, the shareholders of the holding entity should be filled in, whereas the rest of the fields refer to the Greek subsidiary entity itself.

There is a fast-track process provisioned for the below cases:

• Venture capital funded company

• Spin-off from another institution

• Horizon 2020 recipient

• Patent holder

Please note that if you belong to one of the fast-track categories, you still need to fill in an application and follow the registration process as described in the presentation materials shared above.

Once the application is approved, the results are notified to the user, and the company profile becomes public. 

We are very much looking forward to seeing the official Greek startup database grow and we are equally eager to see the first programmes and benefits offered via the platform to support our fast-growing startup industry!