SOCIETY

BUSINESS: 332 PRACTICES


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Initiative

egg – enter.grow.go

egg – enter.grow.go
SUBMITTED FROM:

Eurobank S.A.

The Eurobank Group, consisting of Eurobank S.A. (Eurobank) and its subsidiaries, is a strong banking group active in six countries, with total assets of €67.7 billion and 11,394 employees. Eurobank Ergasias Services and Holdings S.A. (Eurobank Holdings) is the parent company of Eurobank Group. With a total network of 625 branches in Greece and abroad, Eurobank offers a comprehensive range of financial products and services to its retail and corporate customers. In Greece, Eurobank operations encompass a retail banking network, dedicated business centers, a Private Banking network and a dynamic digital presence. Eurobank also has presence in Bulgaria, Serbia, Cyprus, Luxembourg and United Kingdom (London). Eurobank’s philosophy focuses on providing quality services to its customers, paying attention to their particular and diverse needs. Beyond core business activity Eurobank, responding to the needs of today’s everchanging environment, consistently designs actions relating to social and environmental issues, adopting responsible practices that promote transparency and business ethics. Eurobank links its business decisions to environmental sustainability, social responsibility and corporate governance (ESG).


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Objective Action

The egg – enter.grow.go program aims to support innovative youth entrepreneurship and to create employment opportunities in Greece, particularly among young people.

 

Target Audience

The Program is aimed at young motivated people who have an original idea that may cover a need or it has the potential to address a significant market opportunity in any sector of the economy.

 

Duration

Annual cycles with a 12month duration, since May 2013. The current cycle (4th) have started its operations in June 2016.


Description

The egg – enter.grow.go program aims to support innovative youth entrepreneurship and to create employment opportunities in Greece, particularly among young people.

The program provides to young business teams an integrated framework of business incubation, acceleration and co-working space by offering a range of supporting actions and tools that help them develop and accelerate innovative business ideas to successful companies.

During the program, participating teams have access to a network of distinguished mentors and partners with experience in start-ups’ acceleration; a focused, hands-on-educational program of business development; and value-added one-stop-shop services to support business operation and growth.

The main benefits to the participating teams of the Program are the following:

1. Mentoring by distinguished and successful entrepreneurs representing prominent sectors of the economy and science.
2. Building infrastructure with fully functional and well-equipped co-working office spaces near the center of Athens (190, Syggrou Ave.), which hosts the young entrepreneurs for the entire period of their participation in the Program.
3. Supporting “one-stop-shop” services provided by sponsors and supporters of the Program that assist the participating teams in addressing key issues in the process of establishing and growing their business.
4. Business training ("bootcamp") in areas that are crucial for a successful business operation through a well-structured intensive training program to all participating teams.


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Impact on Society

In almost three years of operation, egg has established itself as one of the most complete business acceleration programmes in Greece. It is also highly regarded by both domestic and foreign audiences, has substantially improved its positive image with tangible results in Greece and abroad, and has become a role model for every new initiative taken in the ecosystem of Greek startups.

Following the completion of its first two cycles in June 2014 and 2015, and during the third cycle, which will be completed in June 2016, egg has the following achievements to show:

  • 99 entrepreneurial teams entered the egg Programme, 31 consist of the current cycle (4th) and have entered this June 2016.
  • 54 entrepreneurial teams are active incorporated companies that:
    • 20 businesses received financing from Eurobank financing tools and from Business Angels
    • 15 women in business (CEO position).
    • 144 new hirings.
    • 50 synergies among egg companies.
    • 7 patent applications submitted by egg companies
  • 260 private consultations with mentor
  • 365 one-stop-shop sessions on business operation issues.
  • 73 specialised vocational training workshops.

Moreover, egg’s footprint on Greek society is enhanced through a series of actions taken by the Programme and its teams, with the aim of: 

  • Establishing contacts in Greece and abroad, in order to support the Programme and the extroversion of the start-ups
  • Improving the know-how of the Programme and its teams/companies.
  • Supporting and developing synergies in the innovation ecosystem.
  • Establishing business networking and promotion for its companies.


Initiative Location

Athens.


Working with Organization

The egg - enter.grow.go program is a Corporate Social Responsibility (CSR) Initiative of Eurobank ( www.eurobank.gr ) that is designed and implemented in collaboration with Corallia ( www.corallia.org ).


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Workers Participation

Total number of employees is 22, allocated as follows:

a) egg: 4 employees,

b) Eurobank's Marketing and Corporate Communication department: 4 employees,

c) Eurobank's Digital Presence department: 5 employees,

d) Eurobank's Human Resources department: 2 employee,

e) IT department: 2 employees,

f) Corallia: 5 employees.


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