F/MS Top Startup Cities

5 min read

Thessaloniki, Greece #379

City Scores

City Total Score

0.609

Overall ranking score

Quality Score

0.04

Ecosystem quality rating

Quantity Score

0.12

Ecosystem size rating

Business Score

0.45

Business environment rating

Score Distribution

Score Comparison

MeanCEO Index Click to scroll to details

66

Startup Ecosystem in Thessaloniki, Greece 🌟

TL;DR

Thessaloniki is currently ranked as the 379th city in the Global F/MS “Best Cities for Startups” Index. Known for its rich culture and growing tech scene, Thessaloniki offers a welcoming environment for startups and entrepreneurs, especially in technology and innovation.

Startup-Friendly Stuff 📈

1. Ease of Company Registration

  • Business Registration: Streamlined online processes available; efforts to simplify documentation.
  • Startup Incentives: Local and national programs are increasingly supportive of new tech ventures.

2. Employment Law 🏢

  • Labor Regulations: Comprehensive laws that protect employee rights; regulations can be complex.
  • Hiring Foreign Talent: Processes exist for hiring foreign employees, though they can require patience.

3. Taxation 💰

  • Corporate Tax Rate: The standard corporate tax rate is around 22%, with incentives for startups in specific industries.
  • VAT Regulations: Competitive VAT rates that benefit technology and service-based businesses.

4. Quality of Life 🌆

  • Living Standards: Affordable cost of living compared to other European cities; vibrant social scene.
  • Culture and Leisure: Bustling cultural life with festivals, restaurants, and beautiful seaside views.

5. Bureaucracy 🗂️

  • Ease of Navigation: Moderate bureaucratic hurdles; improvements are being made but some areas remain cumbersome.
  • Government Support: Growing support with various initiatives aimed at fostering innovation.

6. Visas for Entrepreneurs 🌍

  • Startup Visas & Permits: Regulations are evolving; more initiatives are making it easier for foreign entrepreneurs.
  • Residency Options: New visa categories are opening up for business creators.

Startup Community 🤝

7. Networking Events

  • Thriving community with regular meetups, workshops, and tech events.
  • Opportunities for local startups to connect with international investors and mentors.

8. Subsidies and Funding 💵

  • Government and EU-funded subsidies for tech-based startups.
  • Various grants and initiatives to encourage innovation and entrepreneurship.

9. Venture Capital (VC) Presence

  • Investments: Emerging VC presence focusing on technology and innovation sectors.
  • Major Firms: Increasing interest from both local and international VC firms.

10. Incubators & Accelerators 🚀

  • A variety of incubators and accelerators exist, catering to sectors like technology, tourism, and health.
  • Programs generally include mentorship, workspace, and initial funding.

Technology & Industry Priorities 🔧

  • Focus Areas: IT, tourism tech, renewable energy, and logistics.
  • Government Initiatives: Strategic focus on digital transformation and innovation to enhance economic growth.

Business Culture 🏙️

  • Language: Greek is the primary language; English is increasingly used in startups and among younger professionals.
  • Work Environment: Collaborative atmosphere with a strong emphasis on creativity and innovation.

General Pros and Cons ⚖️

Pros:

  • Affordable living with a vibrant entrepreneurial scene.
  • Strong community support and growing government initiatives.
  • Excellent access to talent from local universities.

Cons:

  • Bureaucracy can still be challenging in certain sectors.
  • Limited access to larger funding rounds compared to bigger cities.

Initiatives for Female Entrepreneurs 👩‍💼

  • Increasing focus on support programs for female entrepreneurs, offering resources and networking opportunities.
  • Events and workshops specifically targeting women-led startups.

Thessaloniki provides a unique and supportive environment for entrepreneurs, blending rich cultural heritage with an emerging startup scene. 🚀

MeanCEO Index for Thessaloniki, Greece 🚀

Thessaloniki is emerging as a vibrant startup ecosystem, particularly appealing for female entrepreneurs. Let’s explore how this city scores on the MeanCEO Index based on ten essential factors that shape its entrepreneurial atmosphere.

1. Weather ☀️

  • Score: 7/10
    • Thessaloniki enjoys a Mediterranean climate with abundant sunny days and mild winters. While summers can get quite hot, the overall pleasant weather allows for year-round outdoor activities, making networking events enjoyable.

2. Location 🏖️

  • Score: 7/10
    • Bordered by the Aegean Sea, Thessaloniki offers beautiful beaches within walking distance where you can unwind and gather inspiration. The coastal views are a wonderful draw for both relaxation and creativity.

3. Women Friendly 👩‍💼

  • Score: 6/10
    • Greece has made strides toward gender equality, although traditional views still linger in some areas. Thessaloniki hosts initiatives supporting female entrepreneurs, making it a better environment for women than some other cities, but there’s room for improvement.

4. Foreigners Friendly 🌍

  • Score: 7/10
    • Thessaloniki welcomes foreigners, with locals generally open to making new friends. However, cultural differences can pose challenges in forming connections. The vibrant expat community helps foster a welcoming atmosphere.

5. English as a Business Language 📚

  • Score: 8/10
    • While Greek is the primary language, English is commonly spoken in startup circles and among younger professionals. This linguistic accessibility supports international entrepreneurs.

6. Delicious Cuisine 🍷

  • Score: 9/10
    • Thessaloniki is renowned for its rich culinary heritage, featuring healthy Mediterranean dishes. The local cuisine emphasizes fresh ingredients, and its excellent wine production adds flavor to the dining experience—low onions is a bonus for many!

7. Ease of Getting Married and Starting a Family 💍

  • Score: 5/10
    • The dating scene is vibrant, with a variety of eligible prospects; however, like many cities, balancing work and personal life can be challenging. Family-oriented support from the community exists but can vary.

8. Medicine 🏥

  • Score: 6/10
    • Healthcare services are present, although the speed of access to appointments and tests can fluctuate. Costs are relatively affordable, but experiences can vary widely based on personal circumstances.

9. Ease of Transportation & Traveling 🚍

  • Score: 6/10
    • Public transportation is available, yet can be somewhat limited compared to larger European cities. While there’s an international airport, commuting convenience could be improved.

10. Startup Mindset 💡

  • Score: 8/10
    • The local culture is increasingly supportive of entrepreneurship, with an emphasis on innovation and resilience. Failure is starting to be viewed more positively, creating a nurturing environment for startups.

MeanCEO Index Score: 66/100 🎉

Thessaloniki presents a promising yet developing landscape for female entrepreneurs! With a blend of cultural richness, a supportive startup community, and growing government initiatives, it’s an inspiring environment to launch and grow businesses. While challenges remain—particularly in bureaucracy and access—opportunities for success abound, making Thessaloniki a city to watch for aspiring female entrepreneurs.

Happy entrepreneurship! 🚀