Reflecting on roundtable in Athens: Navigating the Greek talent ecosystem in tech

Our first round table in Greece took place on a warm evening at our Office in Platia Mavilli, Athens. The event, co-hosted by Metavallon VC, brought together a diverse group of people, all eager to dive into the topic of navigating the Greek talent ecosystem in tech.

The evening began with a casual drink, allowing attendees to mingle and get to know one another in a relaxed atmosphere. This informal start set the tone for the rest of the evening, encouraging open and candid discussions. As the sun set over Athens, the attendees moved to the table where the structured part of the evening began.

Metavallon VC's Insights

Myrto Papathanou, partner at Metavallon VC, kicked off the roundtable with an insightful introduction. Metavallon VC has a track record of 33 investments, with 80% of their portfolio companies having technical founders, three deep tech exits, and over €120 million invested. Myrto emphasised that Metavallon VC focuses heavily on the teams within the companies, when deciding to invest. This focus on people was a key reason for their participation in the event.

Myrto provided a comprehensive overview of the different stages and challenges companies face when scaling their teams. From early-stage recruitment struggles to the complexities of expanding a team while maintaining company culture, her insights resonated with many in the room.

The survey results

Following this, we unveiled the outcomes of the pre-filled survey completed by all attendees. Drawing on our seven-year track record of recruiting for tech companies across the Benelux, DACH, and Nordics, we are excited to expand our focus to the Greek market. Our presentation combined the survey data with our in-depth knowledge to offer comprehensive insights.

Key takeaways from the survey

1. The war for talent

One of the most striking conclusions was that the war for talent is fought across the board. Companies reported difficulties hiring in every domain, including Sales, Marketing, Engineering, Product, Data, and Customer Success. A common challenge highlighted by most founders was finding people "who have done it before." Experienced talent is in high demand and short in supply.

2. Threat of new entrants

Another significant point of discussion was the threat of newcomers to the market. International companies hiring in Greece are intensifying competition for the already limited talent pool. This trend is making it even more challenging for local startups to secure the talent they need.

3. Internal competition

The Greek startup scene, while growing, remains relatively small. This leads to fierce competition among startups for talent, as many only seek individuals with previous startup experience. Given the limited number of startups, there’s a shortage of such experienced talent. One founder noted that it’s common for talent to move from one startup to another, as opportunities within the tech sector are still limited.

4. Impact of remote working

Remote working is a development that is significantly impacting the local market. Attendees discussed how American companies often hire remotely in Greece, offering salaries much higher than what local companies can afford. This has created a challenging environment for Greek startups trying to retain their talent.

A lively discussion ensued about the various approaches to workforce management—remote, hybrid, and office-first. Founders shared their reasoning behind their chosen models, highlighting the pros and cons of each.

5. Retention strategies

The evening wrapped up with a discussion on retention strategies. Opinions varied, with some companies believing that competitive salaries and benefits are the best ways to retain employees, while others emphasised the importance of company culture and a positive work environment. This exchange of ideas provided valuable insights for all attendees.

Attending companies

The roundtable featured a mix of companies, contributing to the rich diversity of perspectives. Representatives from the following companies were present:

Finloup, Krotos, Plum, Feel Therapeutics, BIOEMTECH, Wealthyhood, Cargosnap, Vendora, Bryq, CityCrop, Superside, Hippocampus, Future BrAIn, Ferryhopper, Myhabeats, LinkedIn and Investing for Purpose.

A successful evening

Our first roundtable in Athens was a resounding success. It was heartening to see so many people show up, especially at the end of July, a testament to the importance and urgency of the topic. The participation in the conversations was excellent, with a vibrant mix of big and small companies providing a rich learning environment for everyone involved.

The roundtable format proved to be effective, fostering open dialogue and knowledge sharing. Given the success of this inaugural event, we’re planning to make the roundtable a quarterly occurrence. We look forward to continuing these important discussions and supporting the growth of the Greek tech talent ecosystem.

Thank you to all who attended and contributed to making the evening so valuable. We are excited to see what the future holds for the Greek tech scene and are committed to being a part of its growth.