What’s fuelling Athens’ burgeoning startup scene?

A growing number of tech entrepreneurs are breathing new life into the Greek capital

On the surface, Athens doesn’t seem like the best place to start a business. Since the country’s financial crisis almost a decade ago, about one in five small businesses have folded and unemployment levels still hover around 20%.

However, the local startup scene is enjoying some surprising successes, fuelled by a talented and ambitious young workforce who have found themselves unable to rely on traditional employment routes. These include recruitment software company Workable, which has raised more than €29m (£25.5m) in local and international funding, and ride-hailing app Taxibeat, which was sold to automotive company Daimler for an undisclosed amount last year.

Related: Greece relaxes capital controls to prove worst of turmoil is over

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75% of Greek company founders are residents of other countries

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Read the original at Economics | The Guardian.