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Category: News

Call to the Greek government in the face of the Coronavirus threat

Call to the Greek government in the face of the Coronavirus threat

 

 

Call by the Hellenic Business Angels Network to the Greek government for immediate preventive measures against the imminent financial crisis to protect Greek startups in the face of the Coronavirus threat

 

To the Prime Minister of the Hellenic Republic

cc: Minister of Finance

cc: Minister for Development and Investment

 

March 13, 2020

 

Dear Mr Prime Minister,

Given the current and imminent threats posed by the Coronavirus not only to people’s health but also to the economy of Greece, we, the Hellenic Business Angel Network, feel obliged to bring to your attention the imminent threat to the Greek startup community and kindly ask you to urgently consider available proper means to promptly address this high risk in order to avoid further damage to the Greek economy.

As other countries, Greece will soon face the consequences of the current crisis in the form of postponements of private investment decisions, supply chain disruptions and serious reductions in customer orders. Limited access to capital will force many innovative startups into bankruptcy.

The most imminent issue is the lack of resources to fund their day to day operations and teams. With limited cash reserves and virtually no access to the traditional banking sector, startups and innovators are entirely dependent on their personal savings, investors and grants to support their growth and development.

We call on the Greek government to take immediate action and work in coordination with the European Commission to set up and implement programmes that can offer liquidity to startups, innovative SMEs, as well as small research and innovation projects affected by the current crisis and the possible new economic and financial downturn it may lead to.

While established companies may have the possibility to endure this by obtaining bank loans, startups have no collaterals to provide to banks for loans. Public institutions such as State-owned or State-supported financial institutions must be prepared to quickly process requests for short term credit and offer loan and/or grant products in a timely manner to startups, innovative SMEs and innovators in need of cash.

There is a real risk that many of the recently successfully established startups in Greece will be put out of business or have their operations interrupted by this new crisis. The steadily rising and considerable contribution of startups to Greek employment numbers is under great risk.

Extraordinary preventive measures should be taken immediately by the Greek government to provide the innovation and entrepreneurship ecosystem with access to cash so as to finance working capital needs, thus avoiding massive losses of jobs in this specific sector of the economy.

The many efforts having been undertaken in Greece in the past years by all stakeholders in support of innovation and entrepreneurship to help build up a thriving startup scene will most likely be annihilated through the current threat if the state cannot promptly provide an appropriate and suitable support mechanism.

We, as HeBAN, national member of EBAN – The European Trade Association for Business Angels, Seed Funds and Early Stage Market Players, would welcome the opportunity to be invited together with other essential stakeholders of the innovation and entrepreneurship ecosystem to provide further input on this pressing issue.

The ‘Call for Member States to Provide Liquidity to the Startup and Innovation Ecosystem’ by EBAN can be found here.

Sincerely,

On behalf of the Hellenic Business Angels Network (HeBAN)

Panayiotis H. KETIKIDIS

Dimitrios TSINGOS

Elina KOUTSOURADI

 

 

Scale-up Greece meet-up January 2020

Scale-up Greece meet-up January 2020

On Wednesday, January 29, 2020, the 4th Scale-up Greece meet-up will take place at Ionia, Alekou Panagouli 91, from  6:00 PM to 9:00 PM.

More information you can find here.

Global Entrepreneurship Week on November 18-24, 2019

Global Entrepreneurship Week on November 18-24, 2019

HeBAN as the National Lead for Greece of GBAN (Global Business Angels Network) supports the Global Entrepreneurship Week 2019 (GEW2019).

Global Entrepreneurship Week is a collection of tens of thousands of events, activities and competitions each November that inspire millions to explore their potential as an entrepreneur while fostering connections and increasing collaboration within their ecosystems. Powered by the Kauffman Foundation, Global Entrepreneurship Week has expanded to 170+ nations since its launch in 2008 with 20,000 partner organizations, now serving as Global Entrepreneurship Network (GEN)’s community-building backbone.

Through GEW, GEN seeks universality, striving to be inclusive of individuals and communities who have traditionally faced barriers to entrepreneurship whether minority groups, cumbersome traditional institutions or those pushed to the side by strong competition. GEW 2019 will be held on November 18-24, 2019.

More information about the event can be found here: https://www.genglobal.org/gew

#GEW2019

 

Global Fundraising Stage of the World Congress of Angel Investors WBAF 2020 in Istanbul on February 17-18, 2020

Global Fundraising Stage of the World Congress of Angel Investors WBAF 2020 in Istanbul on February 17-18, 2020

HeBAN is happy to announce that qualified Greek start-ups are invited to compete to pitch on the 2020 Global Fundraising Stage (GFRS) of the World Congress of Angel Investors WBAF 2020 in Istanbul, Turkey, on February, 18, 2020 (www.wbaf2020.istanbul). The 2020 Global Fundraising Stage is supported by the WBAF Angel Investment Fund, which aims to invest in startups of the GFRS 2020. It will provide a unique opportunity to 100 selected startups and scaleups to pitch their businesses on WBAF’s Global Fundraising Stage at its World Congress on 17–18 February 2020. (It is important to note that the WBAF Angel Investment Fund is only one of many investors and investing institutions that will be present at the GFRS 2020.) More information about the application procedure and the event can be found here.

HeBAN at EIAS in Brussels on November 25-26, 2019

HeBAN at EIAS in Brussels on November 25-26, 2019

HeBAN will participate at the European Angel Investment Summit (EAIS) in Brussels on November 25th-26th in Brussels. The Summit will bring together hundreds of investors, selected start-ups, policymakers and corporates to discuss possible solutions to Europe’s most important challenges. Opening keynote speaker will be Marco Landi, the Former COO and President of Apple Computer. HeBAN’s co-founder and member of EBAN board Prof. Panayiotis Ketikidis will speak about ‘Purposeful venture capital investment for the new EU economy: Leveraging EU Instruments to solve venture capital challenges through public-private investor partnerships’. The Summit aims to put business angels in the spotlight and highlight how they bring economic dynamism by financing innovation and taking risks early on. EBAN is partnering with the European Investment Project Portal, the European Commission DG GROW and DG ECFIN, as well as the Enterprise Europe Network for the event. Other speakers include Jean-Pierre Bourguignon, President of the European Research Council, Pier Luigi Gilibert, Chief Executive of the European Investment Fund, Kerstin Jorna, Deputy Director General, European Commission DG Economic and Financial Affairs, and many other distinguished guests.

The full programme and more information about EIAS you can find here.

SIMED INNOVA in Malaga Nov 2019

Through the WBAF network there is an opportunity for startups in the realm of real estate & construction industries to participate in the SIMED INNOVA, a new zone
showing innovation/tech/startups focusing on real estate & construction industries inside

SIMED, 15th edition of the Mediterranean Real Estate Expo, in Malaga on 8/10th November  2019.

The Startups Call is open until 20th September.

With the support of PROMALAGA (Malaga Investment Promotion Agency) the selected startups need to pay only for travel & accommodation in Malaga (around 50€/night or less).

Interested startups should send an email confirming interest to participate and some info about their startup in English or Spanish (PitchDeck/Presentation) to:

www.linkedin.com/in/miguelmartin34es

Malaga and Costa del Sol are well-known tourism & real estate investment destinations with
property buyers, investors & developers from all around Europe, with strong presence of UK,
BENELUX, Scandinavia, France, Germany, CEE & Russia and MENA nationals, so it is a
very interesting market for any emerging startup.

 

 

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HeBAN Contact Info

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E-Mail: general.inquiries@heban.gr

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HeBAN is the Greek National Member of EBAN (European Trade Association for Business Angels, Seed Funds, and other Early Stage Market Players).

HeBAN is the National Lead for Greece of GBAN (Global Business Angels Network).

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