The word INNOVATION was first used by the Ancient Greek Philosopher and Historian Xenophon, 2400 years ago.

He did that in Ancient Athens. In his book Ways and Means he describes the ways in which Ancient Athens should exploit its wealth. Especially in the chapter on MINES contains the earliest step in the genealogy of innovation as a concept. Xenophon’s proposal is that the State possess public slaves, as private individuals do, and make them available for hire to entrepreneurs in the mines. This would raise revenues for the State and contribute to developing business. To Xenophon, innovation (καινοτομία in Greek) is “making new cuttings”. The word is a combination of καινός (new) and the radical τομη (cut; cutting). In Xenophon’s case, it means opening new galleries.

Greece is the land where some the first famous Innovators were born and raised. The people who shaped the world for many centuries. 2500 years ago. Hydraulic technology, Musical Instruments, Syringes, Cranes, Steam engine, Central Heating, Philosophy, Chewing Gum, Astronomy, Columns & Stadiums, Anchor, Lighthouses, Vending machines, Mathematics, Olympic Games, Showers, Medicine.

If we were talking in today’s terms, some of the most important INNOVATION startupers of all time were born and became active in Greece. For example, 2300 years ago Archimedes invented the sciences of mechanics and hydrostatics. Also discovered one of the most fundamental concepts of physics – the center of gravity. At the same time, Euclides became the “father of geometry”. 2400 years ago, Hippocrates is considered one of the most outstanding figures in the history of medicine, the “Father of Modern Medicine”. The DNA of these people who changed the world is still here in Greece.

Today in Greece Young people of exceptional intelligence and education are working on fantastic innovations. Many small and large companies, many startups are waiting for investors to take advantage of the Innovation they are planning. The Greek Government has created an extremely favorable framework for the development of Innovative companies and especially those that invest in R&D. A framework that includes financing, exceptional tax incentives, benefits of all kinds. For example, R&D costs are deducted 200% of taxable profits. Another incentive is to obtain a residence permit in the Schengen area for those who invest more than 400,000 euros in Greece. Two huge Technology Parks are also being created in order to support all Innovation companies and especially the new ones (spin-off, startup). Therefore, in the coming years Greece will experience an explosion of Innovation companies.