| 
The
Greek economy is at an ideal stage for venture capital
growth. This is based on current macroeconomic indicators.
As shown in the table below, GDP growth is expected
in the order of 3% for the three-year period 2004-2006,
while inflation is forecast at 3% (source: European
Commission, DGEFA, European Economy).
| |
2004 |
2005 |
2006 |
| GDP (%) |
4.0 |
3.7 |
3.6 |
| Inflation (%) |
3.2 |
3.0 |
3.0 |
| Current balance of trade (% GDP) |
-4.5 |
-4.4 |
-3.9 |
|
At the same time, long-awaited structural changes
in the Greek economy which are currently under way
are expected to enhance growth of entrepreneurship.
Today several sectors are dominated by a single player
holding over 50% of the market. Privatization of public
sector companies and market deregulation in various
sectors, such as energy and telecommunications, are
expected to bring about significant developments in
the near future. At the same time, monetary union
and EU enlargement provide additional entrepreneurial
opportunities.
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Αξίζει να σημειώσουμε ότι σύμφωνα
με μελέτη των Merrill Lynch - Venture Economics
η χώρα έρχεται τελευταία στην Ε.Ε. σε διοχέτευση
κεφαλαίων σε επενδύσεις private equity-venture
capital, αλλά και ως προς το ύψος των πραγματοποιούμενων
επενδύσεων ως ποσοστό του ΑΕΠ. |
The establishment of TANEO by the Greek State, with
the aim of providing capital to venture capital funds,
and the new
statutory framework for venture capital
funds in Greece, with a series of incentives, are
steps towards changing this situation.
In conclusion:
monetary stability
development opportunities and investment incentives
offered by the regulatory and legislative framework
which have rendered markets more competitive
the range of European programmes subsidising Greek
firms
the expected recovery of the of Balkan economies
technology transfer and innovation policies
the existence of a large number of capable executives
in Greece
the growth of scientific research over the last decade
and the implementation of policies to link it with
business (adopted relatively recently)
are all expected to generate new business initiatives
in Greece and , consequently, opportunities for venture
capital investments.
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