The government plan to support research and innovation with the aim of total annual expenditure reaching 3% of GDP was developed by the Minister of Development Kostas Skrekas, speaking at the 18th Polyconference “Innovation & Development”, organized by ka-business.gr.

“Innovation is the engine that will move our country forward,” the minister stressed, pointing out the need to connect research and development with businesses.

“In 2023 to 2025 we have aimed to channel 1.2 billion euros from the General Secretariat of Research and Innovation into innovation actions. We are currently preparing the National Strategy for Innovation and in the autumn we want to have completed it, so that we can put it up for public consultation”, he said, noting that the final plan will be submitted to the Parliament for a vote.

“Our goal is to transform Greece into an innovation hub by doubling total spending on research and innovation from 1.5% of GDP today to 3% of GDP in the next 5 to 7 years,” he explained.

In April the new “Research – Innovate”

Regarding the funds to be allocated in the next period, Mr. Skrekas said: “We will channel 403 million euros from the Recovery Fund to focused innovation actions over the next three years, 207 million to upgrade research infrastructures – and EKETA takes a significant part from there-, 139 million euros in basic and applied research, 3 million euros for the upgrade of the “Elevate Greece” platform, 25 million euros in 36 research projects that have been evaluated with a high score in the “Research- I’m innovating” and they hadn’t joined due to budget constraints in the past.”

Regarding the new round of the “Research-Innovate” program, he announced that 300 million euros will be allocated, estimating that “it will open in April, to receive applications for actions in four areas”.

Furthermore, the minister referred to actions to strengthen the chambers and upgrade technology transfer centers. “We want every Chamber of the country to create an incubator, a center for promoting entrepreneurship and innovation with money that comes from the NSRF and the Public Investment Program, so that the Chambers can play the role we want in innovation. We are upgrading and strengthening the Technology Transfer centers, the OBI, the Industrial Property Organization named and Innovation, OBIK. We want and we are creating a national competence center, a national Innovation Agency, so that through there all the innovation centers that are created can be networked and coordinated, when an investor from the market, an entrepreneur wants to see what research is being done in the product it produces.”

The country’s progress in research investment

Mr. Skrekas, presenting the relevant indicators, noted that investments in research in our country exceeded 3 billion in 2022. “The annual government expenditure on research and development in Greece amounted to 1.6 billion in 2022, increased by 51% in compared to 2018 and 116% compared to 2012, where less than half a billion was allocated. In 2022, businesses alone spent €1.5 billion on research and development – not public spending, not public investment – an increase of 22% compared to 2021. That is, businesses alone in 2022 invested in innovation as much as all agencies as a whole in 2015, which means that businesses also realize that only through innovation and the production of value-added products can they move forward,” he said, adding that Greece “for research and development from 2012 to 2022 and in absolute numbers it is seventh in terms of spending, with 1.5% of GDP in 2022 from 0.92% of GDP in 2015.

With regard to start-up entrepreneurship, Mr. Skrekas noted that “we have repeatedly set records in attracting investments in the last five years”. “The value of Greek start-ups from 1.1 billion euros in 2017 has increased eightfold, surpassing 8.2 billion euros already in 2022. 17%, i.e. 141 start-ups, are located in the regions of Macedonia. 120 are in Thessaloniki […] In 2023 there were 11 takeovers of startups, some of which exceeded 100 million euros in value, one in Thessaloniki recently. In 2023, 13 active Greek venture capitals with a total capital of 545 million euros invested in 62 start-up companies and covered 85% of the total deal volume.”

Thessintec is one of the largest technology parks in Europe

Referring to Thessintec, Mr. Skrekas underlined that “it will become the first Greek innovation center of the fourth generation, it will be among the largest technology parks in Europe and it may be the first time that so many members of the Greek ecosystem – and not only – will actively participate in the strategy of the development of our country which will be based on innovation”.

“Thessaloniki is already an innovation hub and has excellent potential and this is proven by the arrival of Pfizer, Deloitte, Cisco, Chubb, Accenture, Deutsche Telekom which will soon exceed 5,000 highly skilled, highly paid staff, that they employ here in Thessaloniki”, concluded the minister.