Article by Deputy Minister of Foreign Affairs for Economic Diplomacy Kostas Fragogiannis and Deputy Minister for Development and Investments in “TA NEA SAVVATOKYRIAKO” newspaper (04.12.2021)

In a week from today, next Saturday, December 11, we are travelling to the USA on an approximately 8-day visit which includes stops in Boston and San Francisco. The choice of destinations is obviously not at all random. On the contrary, it marks the core goal of our visit, which is the connection of critical for the development of the country resources and points of reference, especially in the fields of research and innovation. But what are these critical points?

First and foremost, it is the presence of Greece, through renowned Greek scientists and academics in the world’s leading, academic institutions, some of which are located in Boston and some others in the area of San Francisco, where ideas that take our world forward, in technology, medicine, economics, philosophical thought are born. And it is very often that our Greek fellow citizens are pioneers of these ideas.

Then, it is the presence of Greece, also through renowned representatives from the field of entrepreneurship, in the cradle of the most innovative and pioneering technology companies in the world, Silicon Valley. It is about time that Greece, like almost all EU countries as well as many developed and developing economies of the world, acquires an organized and institutional presence in the region. Greece has now a modern official platform serving as a gateway that presents the domestic innovation ecosystem and through which specialized incentives are provided to start-ups, such as tax relief for angel investors, stock options, and even funding opportunities using NSRF actions to enhance their liquidity. “Elevate Greece” is also actively supported by a significant network of private sector companies, providing start-ups with cash prizes, specialized banking products, cloud services, access to global innovation networks, mentoring services, etc. Let us stress, at this point, that the first step in this direction was taken in December 2020, when Greece, through “Enterprise Greece”, organized for the first time an action in support of Greek innovative companies. Therefore, with “Elevate Greece” and “Enterprise Greece” being our vehicles on our next trip to the USA, we will lay the foundations for a more systematic and substantial institutional presence of Greece in the cradle of technology and its ecosystem.

But let us return to the interconnection of the crucial reference points. It is a fortunate coincidence and a favorable momentum, that after two years of hard and targeted work by the government, Greece has restored its reputation as a reliable, dynamic economy and as an attractive investment destination, especially in research and development investments. We have laid the foundations that make our country a regional hub of research and development with new significant tax incentives for research and development expenditures, with a new institutional framework for the operation of spin-offs, with the development of an Innovation District in CHROPEI and the creation of the Thessaloniki Innovation Technology Center (ThessINTEC) and with promoting important actions such as Collaborative Innovation Clusters and Competence Centers. At the same time, an integrated intervention concerning the issues of the Technology Transfer Offices is being carried out. The fact that Greece is changing is confirmed by the choice of giants, such as Microsoft, Pfizer, Cisco, EY (Ernst&Young), Applied Materials etc. to invest in our country. We believe that the time is now ripe for even more dynamic new innovative companies and why not of the giants of the future to be developed in Greece.

Another reference point, and at the same time an example of the targeted work being carried out at government level, is the establishment of the Embassy’s Science Attaché in the new Organizational statute of the Ministry of Foreign Affairs. This is another aspect of modern diplomacy, which, in order to be exercised effectively, should follow developments with regard to innovation.

Finally, it is the excellent level of our bilateral relations with the United States, at political, economic and strategic level. This is a critical factor and of course is reflected in the upgraded agreements that have been signed recently between the two countries as well as in research and innovation, in the exchange of visits by Greek and US officials, but also in the schedule of meetings during our next trip.

Concluding, we want to emphasize that building this “bridge” that will connect the points and facilitate the much-needed two-way flow of people, ideas and funds, is made possible thanks to the systematic cooperation and coordinated efforts of stakeholders, under the auspices of Ministries of Foreign Affairs and Development and Investments.

We are departing for the USA with enthusiasm and vision and we hope to return with innovative ideas and having built bridges to promote and implement them. Our call for investment and synergies between Greece and the US is no longer based on emotional arguments but on mutually beneficial real opportunities.