SeedBlink Blog

We have started our summer time in the Hellenic Republic, opening our second branch and meeting with local investors, such as Stergios Anastasiadis, Panagiotis Karampinis, and Apostolos Apostolakis.

One of our last stops in our Greece discovery journey (guided by locals) led us to Thanos Paraschos, angel investor and Managing Director at Startup Greece. Thanos Paraschos is an angel investor and General Partner at Founderhood. He has co-founded the non-profit organization Startup-Greece, which aims to develop the greek startup ecosystem. He has organised some of the world's largest online initiatives for startups, like European Startup Universe and Startup Greece Week.

He is a fellow of the Angelopoulos Foundation, the European Innovation Academy, and the Hellenic Fund and Asset Management Association. His vision is to contribute to changes that improve the daily life of people, so he supports all those who want to turn their ideas into businesses for a better future. He is currently investing in startup founders that would love to change the world.

Thanos’ view on the Greek startup ecosystem

"Despite the advancement of technology and the available solutions for funding, I would say that a crucial component is human capital. As Greece is still licking its wounds after the debt crisis of early 2010, we see a lot of talent emerging, and now they don’t only seek to earn the basics of a living in a 9-5 job, but they are looking for opportunities in Startups.

Looking at the five years after its launch, it’s clear that EquiFund (a fund of funds in Greece) has proven its positive impact. The initiative has played a key role in the establishment of six new VC funds, making over €200M available for local startups. (Backed from EIF & EIB)

It is well known that the prospects of funding are unfriendly – not only in Greece, but also in other Countries of the EU – but I believe that the members of the greek diaspora and the victims of the greek brain drain can help the ecosystem flourish and attract more VCs in Greece, aside Y Combinator, Silicon Valley Bank, Speedinvest, General Catalyst, Samsung Next, and others."

What industries should Eastern European investors keep an eye on in Greece?

"Greece boasts a great success in the field of tourism.

The tourism and food industry are the jewels in the crown of the country’s industries. Lately, though, the industry of Healthtech and Fintech have become two of the most funded sectors in Greece.

Lastly, taking into account the maritime tradition and the overall tonnage of capacity that is traded under the greek flag, the maritime industry will offer a lot of opportunities. Especially after witnessing the success of VivaWallet sold by the Latsco Family Office to JP Morgan, we speculate that this success will serve as a beacon for Greek shipping tycoons to dedicate funds for the purpose of investing in startups. Some known figures are Martinos, Marinakis and Steriotis."

Thanos’ view on the upcoming shining stars in the local ecosystem

"The local system is still an uncharted land.

The chances of finding prospects for the upcoming wave of shining stars are more than due to come. Via online programs like Greek Startup Universe and European Startup Universe, we are identifying hidden diamonds at the very early stages.

In the tourism sector, I bet on Campsaround – the first booking platform for outdoor stays in Greece. It offers travellers the best spots to relax, refill and reconnect all year round. Campsaround aims to become the leading provider of outdoor hospitality across Europe.

The shining star in the shipping industry is ProcureShip, as they are on a path that covers a crucial aspect of the maritime industry, the aspect of supply. By utilizing technology, through their unique software, they managed to minimize the time of the expedition of supplies."

What tech trend/vertical appeals to you and why?

"My passion is to find innovation everywhere.

I don’t follow a specific set of industries and sectors. However, If I had to be more specific I would lean towards the Metaverse and web 3.0, which, besides the huge opportunities for innovation, can unlock the potential for everyone, especially in the B2B market – which I admit I have a soft point for."

What are your expectations when investing in startups?

"I seek innovation that brings a huge impact on crucial topics.

This is why my investments are not only based on the expectation of returning profit but on something more. I like when the startups I invest in follow specific rules, such as equal opportunities, following the SDGs, and seeking to have an impact on a social level too."

Are there types of startups or founders you prefer to stay away from?

"I believe that great results come from team effort.

I believe in results driven by a common source of power that combines effort and team determination.

Therefore I avoid single founders. Another deterrent is the startups which aim at local markets because I believe they lack vision and thinking out of the box."

How would you describe your investor profile?

"It’s difficult for me to categorize my profile as I am a person that seeks to think outside of the box. I think the best way to describe myself is innovation in all its spectrum, an innovation that brings teams into the spotlight and makes them operate at a national level.

A great example is founderhood which utilizes technology and gives access to opportunities to people around the globe by breaking geographical barriers. In a nutshell, it’s about the democratization of opportunities and connecting local ecosystems.

Ιt’s a real game-changer!"

Are you actively working with investors in the region?

If you don't praise your house, the roof will fall on you!

"It's a rough translation of a Greek proverb. I believe Greece and the whole European ecosystem can become a tinderbox of startups and deals because visibility is still limited, therefore giving you more opportunities to uncover hidden gems!

I know I might sound contradictory but I would like to conclude with this idea: innovation has no birthplace and it can come from everywhere! Startups need only a team of people with talent and determination in order to thrive and succeed on the global stage. This conclusion can be supported by numbers such as the origin of unicorns six years and now. In 2016 we had six unicorns from three countries, whereas, in 2021, we had 196 unicorns from 58 countries!"

There’s a lot more to discover in Greece’s startup ecosystem and from its local investors, but we hope our tour helped you get a quick taste of the local investments.

Until we meet again here, we recommend that you won't be a stranger and join SeedBlink’s community of like-minded investors!