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Lab.40: The first structure that supports young entrepreneurs in Greece

The business accelerator Lab.40 Accelerator is an initiative of the Chamber of Drama, aiming at the cultivation of a decentralized and cross-border ecosystem of entrepreneurship.  

The acceleration program is aimed at ambitious individuals or groups who have innovative business ideas and want to develop or improve their business thinking, forming a successful introduction to the market.

Through a demanding process, theFaciliy’s mentors, trainers and consultants support the teams, reducing both the time and the chances of error, protecting them from a future failure and facilitating them in possible exponential development.

Graduates of the acceleration program may claim free twelve-month hospitality at the Lab.40 Incubator Regional Entrepreneurship Support Facility. The beneficiaries will have access to entrepreneurship support services, such as counseling and guidance services, as well as access to the Facility’s facilities and equipment, such as, among others, office space, computers, 3D printers, etc

 “The aim of Lab.40 is to contribute to the reversal of the brain drain into brain gain, especially in a region where the flee of young people to work abroad or in large urban centers is one of the biggest problems”. In June 2021, the first cycle of acceleration began, hosting twelve business teams with twelve different business ideas.”, stated Mr. Stefanos Georgiadis, President of the Chamber of Drama.

The beneficiaries carried out an intensive one-month pre-acceleration program, consisting of twenty hours of training and thirty-five hours of counseling. The training takes place in weekly regular meetings with all groups, framing fundamental issues of entrepreneurship, while counseling is offered to each group separately, aiming at interpersonal feedback with the facility’s consultants and mentors.

Ten teams qualified for the accelerator program, which aims to complete their business plans, concluding the respective presentations on Demonstration Day. There, graduates will present business plans in front of judges, who will be business angels, local entrepreneurs, market executives, etc.

The second acceleration cycle is expected to be announced in October 2021, through Lab.40’s online platform, remaining in effect for 30 days. The project is funded by the European Social Fund, the Public Investment Programme and the Sustainable Urban Development Strategy of the Municipality of Drama, through the Action “Creation of EKT Entrepreneurship Support Structures”, the Operational Programme “Eastern Macedonia Thrace 2014-2020.

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