### Greece's Startup Landscape

Greece's startup ecosystem is witnessing **remarkable growth** in 2024, showcasing the resilience and innovation of entrepreneurs across the nation. With a surge in **investment opportunities**, the country is becoming a hub for **tech startups** and **entrepreneurial ventures**. 

### Key Factors Driving Growth
- **Government Initiatives**: The Greek government has implemented various policies to foster a **supportive environment** for startups, including tax incentives and funding programs.
- **Access to Funding**: Venture capital and angel investors are increasingly looking at Greece as a **promising market**, providing essential capital for new ventures.
- **Talent Pool**: A growing number of skilled professionals are returning to Greece, bringing their expertise and innovation to the startup scene.

### Success Stories
Prominent startups in Greece are making headlines, contributing to the economic landscape with their **disruptive technologies** and solutions.

### Future Outlook
The outlook for Greece's startup sector remains **positive**, with expectations of continued growth and expansion in various industries, particularly in **tech and sustainable ventures**.

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Exploring the Booming Startup Scene in Greece: Insights from 2024

### Lusha Acquires Novacy to Enhance Sales Intelligence

![Novacy founders.](https://pic1.calcalist.co.il/picserver3/crop_images/2025/01/06/Sy1RkbtU1g/Sy1RkbtU1g_0_792_1536_1152_0_large.jpg)

Business data platform **Lusha** is making waves by acquiring the Israeli startup **Novacy**, known for its **AI-powered behavioral intelligence platform** designed to analyze sales conversations. Although the deal's exact value is undisclosed, it is estimated to be in the millions. This strategic acquisition aims to broaden Lusha's offerings beyond initial lead generation, equipping users with tools to optimize sales calls and enhance deal closures.

**Novacy**, founded by serial entrepreneur **Uria Franko** (previously involved with startups Roommate and Pablo), alongside **CEO Or Biderman** and **CPO Yair Giwnever**, has developed a technology that provides in-depth insights into virtual sales meetings. In today's digital sales landscape, where calls often involve multiple stakeholders, their platform combines AI-driven conversation analysis with robust sales enablement tools, allowing teams to capture critical deal insights and deliver data-driven coaching.

In a statement, **Yoni Tserruya**, CEO and co-founder of Lusha, expressed excitement about acquiring innovative technology and a skilled team to enhance their business intelligence services for over one million users. He emphasized that their platform previously provided rich information about companies and decision-makers, and now, with Novacy's technology, they can offer actionable recommendations that directly impact the sales process.

> “We are making advanced sales optimization tools accessible to companies of all sizes,” Tserruya added, highlighting the goal of democratizing sales intelligence solutions.

**Or Biderman**, CEO of Novacy, echoed this sentiment, stating that their technology empowers sales professionals with **precise, actionable insights** to drive smarter decision-making. The partnership with Lusha allows them to extend these capabilities to a broader audience.

Currently, Lusha operates with over **300 employees** across its offices in Tel Aviv and Boston. Founded in 2016, Lusha raised **$205 million** in a Series B funding round in 2021, achieving a valuation of **$1.5 billion** and generating tens of millions in annual revenue.

![Novacy founders.](https://pic1.calcalist.co.il/picserver3/crop_images/2025/01/06/Sy1RkbtU1g/Sy1RkbtU1g_0_792_1536_1152_0_x-large.jpg)

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- [AI agents as leaders of the revolution in sales](https://108.181.34.157/ctechnews/article/s1sqxovbjg?__cpo=aHR0cHM6Ly93d3cuY2FsY2FsaXN0ZWNoLmNvbQ)
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The Israeli startup&#x27;s AI-powered platform will enhance Lusha&#x27;s sales intelligence offerings.

Lusha's Game-Changing Acquisition: How Novacy Will Transform Sales Intelligence

### WeWork's Recent Controversy

**WeWork’s Gurgaon** co-working space has recently come under fire due to comments made by **Alok Jain**, a startup founder, who criticized the **unapproachable attitude** of the sales team. This sparked a wave of backlash on social media, where netizens expressed their frustrations, saying, **‘They are doing a favor…’**

### CEO's Acknowledgment and Commitment

In light of the criticism, **Karan Virwani**, the CEO of WeWork, acknowledged the issues raised. He expressed his gratitude for the feedback and pledged to implement **necessary changes** to improve the experience for current and prospective members. The commitment to **enhance customer relations** reflects WeWork's dedication to maintaining a positive community in their co-working spaces. 

This situation serves as a reminder of the importance of **approachability** and **customer service** in the startup ecosystem, especially in collaborative environments like co-working spaces.

WeWork’s Gurgaon co-working space faced criticism from Alok Jain for its sales team’s unapproachable attitude. CEO Karan Virwani acknowledged the issue and pledged to make changes. 

WeWork CEO Responds to Criticism: A Pledge for Change After Backlash from Startup Founder

### **A Growing Concern in the Startup Ecosystem**  
The landscape of entrepreneurship in China is undergoing a concerning transformation. **Venture capitalists** are increasingly targeting **failed founders**, pushing them onto debtor blacklists. This aggressive approach raises alarms about the future of the startup ecosystem, as it forces entrepreneurs to risk their **personal assets** in a bid to recover lost funding.  
  
### **Impact on Entrepreneurs**  
The implications for entrepreneurs are profound. Founders who experience failure are now facing the potential of being labeled as debtors, which can severely hinder their ability to launch new ventures in the future. This trend not only impacts individual careers but also discourages innovation and risk-taking within the broader startup community.  
  
### **Investor Behavior**  
As investors tighten their grip, the **pursuit of personal assets** has become a common tactic. This shift in strategy may result in a chilling effect on the entrepreneurial spirit, as individuals may think twice before diving into the competitive startup scene.  
  
### **The Bigger Picture**  
This development signals a troubling trend in the venture capital landscape, where the pursuit of profit is overshadowing the support and nurturing of **new ideas**. The very essence of entrepreneurship—embracing risk and learning from failure—is at stake.  
  
**In summary**, the aggressive stance taken by Chinese venture capitalists towards failed founders raises critical questions about the sustainability of the startup ecosystem and the future of innovation in the region.

Pursuit of entrepreneurs threatens start-up ecosystem as investors target personal assets to claw back funding

The Dark Side of Chinese Venture Capital: Founders Facing Debtor Blacklists

### Hyundai Motor Group's Commitment to Innovation

Hyundai Motor Group is set to make a significant impact at **CES 2025**, the world's largest technology trade show, by presenting **10 selected startups** that showcase promising technologies. This initiative marks their third consecutive year at **CES**, demonstrating their dedication to **open innovation** and investment in startups.

![ZERO1NE Booth at CES 2025](https://www.kedglobal.com/data/ked/image/2025/01/06/ked202501060005.700x.0.jpg)
*ZERO1NE booth at CES 2025 (Courtesy of Hyundai Motor Group)*

### Showcasing Innovation at ZERO1NE Booth
From **January 7 to 10** in **Las Vegas**, attendees can explore various innovative solutions at the **ZERO1NE booth**. Hyundai has invested over **1.3 trillion won ($884 million)** in around **200 startups** since **2017**, focusing on areas such as **mobility, artificial intelligence, and robotics**.

### Featured Startups
Among the **10 startups** highlighted, two have received **CES 2025 Innovation Awards**:
- **Tesollo Inc.**: Showcasing the **DG-5F**, a highly dexterous robotic hand capable of emulating human dexterity, with the ability to grasp objects weighing up to **13 kilograms**.
- **DEEP IN SIGHT Co.**: Presenting the **DIMENVUE Pro**, an award-winning **3D spatial data scanner** that utilizes AI image processing for enhanced data generation in architecture and construction.

Other notable startups include:
- **SMART Tire Company**: Innovators behind **airless tires** using NASA technology.
- **Capture6**: Developers of **direct air capture technology** for CO2 removal.
- **Terracle**: Pioneers in converting plastic waste into raw materials through chemical recycling.

![3D Spatial Data Scanner DIMENVUE Pro](https://www.kedglobal.com/data/ked/image/2025/01/06/ked202501060003.700x.0.jpg)
*3D spatial data scanner DIMENVUE Pro by DEEP IN SIGHT (Courtesy of DEEP IN SIGHT)*

### The ZER01NE Open Innovation Platform
The **ZERO1NE** platform is Hyundai's initiative to foster creativity and innovation across various sectors. This includes **ZERO1NE Ventures**, which encompasses multiple programs such as **Accelerator** and **Company Builder**. Hyundai has successfully spun off **30 in-house startups**, generating **280 billion won** in revenue and creating over **800 jobs**.

As Hyundai continues to explore **open innovation**, they aim to strengthen partnerships with global talents and external collaborators, paving the way for future advancements in technology and sustainability.

 Hyundai Motor Group, which has been promoting open innovation with generous investment in startups with promising technologies, will lead 10 cherry-picked star

Discover the Future: Hyundai Motor Showcases 10 Groundbreaking Startups at CES 2025

Since the launch of **OpenAI's ChatGPT** in late 2022, China's tech sector has experienced a remarkable surge in investment in **generative AI**, focusing on **computational power** and advanced models. Key players like **Zhipu AI**, a five-year-old company incubated by **Tsinghua University**, and **MiniMax**, founded by veterans from **SenseTime**, are leading the charge, valued at over **20 billion yuan** ($2.7 billion). These startups are part of the **"Six AI Tigers"**, a group of Chinese AI unicorns demonstrating impressive growth despite strict **U.S. restrictions** on advanced chips.

The optimism among founders is palpable, as they believe China's AI capabilities have caught up with or even surpassed global leaders in certain areas. For example, **Baichuan AI** expects significant growth in AI applications by **2025**, focusing on sectors like **healthcare**, **education**, and **finance**, with plans to double its workforce. Similarly, **Stepfun** envisions the emergence of **commercialized large model ecosystems** in the coming years.

However, these advancements come with substantial challenges, particularly in terms of **computational power** and funding compared to U.S. counterparts. Companies like **Zhipu AI** are innovating in **software** and **algorithms** under limited resources, striving to optimize software efficiency. Notably, **01.AI**, founded by **Kai-Fu Lee**, has achieved significantly lower training costs than U.S. firms, with Chinese models reportedly achieving parity with **GPT-4** in various capabilities as of mid-2024.

The AI sector in China, referred to as **AI 2.0**, emphasizes enhanced generalization and versatility, paving the way for advanced applications like AI assistants and productivity tools. Despite their successes, startups face fierce competition from established internet giants like **Alibaba**, **Tencent**, **Baidu**, and **ByteDance**, who have launched foundational models and applications. For instance, **Moonshot** encountered significant competition from ByteDance's AI assistant **Doubao**, which captured substantial market share swiftly.

Startups are compelled to focus on sectors where traditional giants have less expertise, such as healthcare, where they've developed highly effective AI models in collaboration with medical institutions. Nonetheless, government policies play a critical role in determining the feasibility of practical applications in sensitive domains like healthcare.

Moreover, AI-driven content in industries like retail shows promise, as Chinese enterprises may hold advantages over Western companies due to differing **market dynamics** and **regulatory environments**. Despite technological challenges, Chinese companies are catching up with their Western counterparts in AI development, even amidst trade restrictions impacting access to **Nvidia AI chips**. As international technological advances slow, Chinese firms perceive opportunities to close the gap, prioritizing capital investment in **large model development** and maintaining pace with rapid technological changes.

Cover Story: Chinese AI Startups Make Gains in Challenge to U.S.-based OpenAI - Investors bet China’s Zhipu AI and MiniMax can overcome U.S. limits on advanced chips

The Rise of Chinese AI Startups: Challenging OpenAI's Dominance

### What Drives Entrepreneurship?
What inspires someone to become an entrepreneur? Is it the desire to make a significant impact like **Steve Jobs**, the ambition to serve overlooked consumers like **Sam Walton**, or the drive to enhance quality and cut costs like **Henry Ford**? In the case of **Hayden Earl**, it’s a deep love for his community and a commitment to protect it.

### An “Uber for Boats”
**Hayden Earl**, a senior at **Cornell University’s Nolan School of Hotel Administration**, discovered his passion for sailing at just five years old on Cape Cod. Competing for the **U.S. Olympic Development Sailing Team** further fueled his love for the natural beauty of Massachusetts’ coast. However, a visit to his hometown revealed a troubling sight: **fishing boats** were missing from the harbor due to overfishing and environmental changes.

> “I learned that overfishing from tourists – coupled with environmental degradation – had destroyed our fishing industry and the livelihoods of many,” says Earl. This realization ignited his responsibility to uplift his community.

### Launching BoatCape
In response to this crisis, Earl founded **BoatCape** in the summer of 2022, a venture that offers guided tours allowing visitors to explore Cape Cod like a local. With over **$80,000** in investments so far, Earl envisions a future where tourists can use an app to book a boat and captain, creating an “**Uber for Boats**.”

> “BoatCape provides my community with a way to earn an income and stay connected to its coastal roots,” he explains. “We also aim to educate visitors about the importance of **environmental stewardship** while out on the water.”

Earl’s entrepreneurial journey began with various ventures, from snow shoveling to teaching sailing. Now, as he pursues a **BS in Hotel Administration**, he credits the Nolan School for its unwavering support. His professor, **Tom Estad**, has been instrumental in guiding him through the launch and scaling of BoatCape, even involving his students in the project.

Or, in the case of Hayden Earl, are they pulled by the love of a community – and a calling to protect it?  A senior at Cornell University’s Nolan School of Hotel Administration, Earl learned to sail when he was five-years-old on Cape Cod.  The latter hit home when Earl visited his coastal hometown several years ago.

Meet the Young Innovator Revolutionizing Coastal Tourism with BoatCape

### Transforming Investment Decisions with AI

A **Hong Kong-based technology start-up**, driven by a team that includes a former **Goldman Sachs analyst**, is set to revolutionize how finance professionals and investors approach investment decisions. Their innovative **artificial intelligence (AI) chatbot**, named **ArborChat**, is designed to perform multiple rounds of **thinking and reasoning**.

ArborChat utilizes **large language models (LLMs)** to analyze text and extract valuable investment insights, significantly enhancing **fundamental stock analysis**. According to **Cheney Cheng**, co-founder and CEO of Arbor, around **100 firms** have participated in trials, with several already subscribing to the service, which was launched just two months ago. The ambitious goal is to expand their client base to **100,000** within three years, specifically targeting the global fund industry.

Cheng emphasizes that this new wave of AI technology is opening up a **vast blue ocean** in investment opportunities, as AI's capacity to understand and analyze complex tasks surpasses human capabilities. He notes that investment has always represented the pinnacle of human wisdom due to the extensive information and analytical skills required, making it a challenging domain for AI to penetrate.

As technology advances, **AI's capabilities** are evolving to tackle more sophisticated tasks. For instance, when querying how **US President-elect Donald Trump’s policies** might affect certain companies or analyzing a comprehensive list of stocks, ArborChat employs a methodical approach. It systematically breaks down queries, gathers relevant data, and delivers insights supported by extensive databases within minutes.

This process is referred to as the **“ThoughtTree”** approach, mimicking human reasoning in answering questions. Typically, ArborChat conducts **two rounds of questioning** and **three layers of analysis**, with plans to enhance these capabilities as the **chip industry** develops and computational power improves.

Arbor’s ‘reasoning’ chatbot analyses text and extracts investment ideas to enhance fundamental stock analysis, company says.

Exploring the Booming Startup Scene in Greece: Insights from 2024

Summary:

Greece's Startup Landscape

Key Factors Driving Growth

Success Stories

Future Outlook

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