Greece’s economic depression has pushed families to the brink. As of the fall of 2013, one in five households and nearly 600,000 children were living below the poverty line. Nearly half of all Greeks lack health insurance. These staggering numbers cannot communicate the impact on individuals and families. In the face of unrelenting austerity and government budget cuts, it is nonprofits on the ground that are repeatedly called on to do more with less.
THI, together with its relief partners, is answering the call by providing a critical safety net to families hardest hit by the crisis. These partner organizations are carefully selected based on proven track record, efficiency and transparency. Initial partners include:
Thanks to THI funding the communities acquired 2 vehicles, one for each city, enabling them to aid community members in need, particularly the elderly, the sick, individuals without family support, and those facing mobility challenges. They do so by actively supporting the blood donation process, particularly by facilitating the communication between hospitals and patients. The efforts are assisted by the nonprofit Bloode.
In 2024, the organization plans to visit 5 to 7 islands in the Aegean Sea, prioritizing the delivery of preventative medical care, educational initiatives, and infrastructure development projects. THI funds will play a vital role in supporting the mission’s budget, covering expenses such as transportation for volunteers via RIB boats, accommodations, and providing necessary equipment.
THI funds were used to renovate the Museum’s third floor in Kolonaki, a space dedicated to the history of Hellenism in the 19th and 20th centuries.
Since partnering with THI, Bloode has expanded its reach from 4 public hospitals to 16, significantly amplifying its impact. Over the course of 2023, Bloode assisted in the collection of nearly 105,000 blood units, nearly one-fifth of the country’s total requirements.
THI supported the launch of the organization’s second national campaign, leveraging its partnership with internationally recognized athletes.
THI funds were used for targeted purchases supporting FBG’s Emergency Food Fund. FBG’s donations received are sometimes lacking in certain nutritional areas, including milk, cereals, legumes, rice, tomato paste, and olive oil. Over the years, THI’s aid has translated to more than 951,000 meals and 81,000 glasses of milk.
THI funding allowed Melissa to address the ongoing needs of the Ukrainian population it serves through targeted initiatives, including running Greek and English classes, providing mental health support for those traumatized by conflict, and offering childcare and parenting sessions to assist single mothers to find a job and integrate into Greek society.
THI funds supported a Beach Clean Up mission organized by NHSA in Glystra-Lagonisi, where volunteers picked up hundreds of microplastics, cigarette butts, and other debris strewn across the beach. In total, the efforts of the volunteers resulted in the collection of over 50 kilos of trash.
THI funds supported Nosilia’s Giras Timan program, which focuses on providing essential home-based palliative care services to vulnerable elderly patients in Athens. This program aims to improve their quality of life and offer support to their caregivers by delivering personalized medical and holistic primary healthcare services directly to their homes, free of charge.
By the end of 2023, through THI’s Plant a Tree in Greece program, we had planted 14,200 trees in Evia (Rovies, Limni, Papades, Kerasis, Skepasti), Attika (Peania, Varymbombi), and, finally, on the island of Chios (Kalamoti).
THI funds were used to support the organization’s helpline, serving as a lifeline for distressed parents and children, offering services that allow them to live mentally healthy lives. Later in the same year, TfC received a second grant from THI as a response to the Thessaly floods. Those funds were used to help fully pay for the renovation of the destroyed local health unit of Giannouli, Thessaly.
THI funds were used to support approximately 40 Ukrainian women with their children, who have sought shelter in the organization’s dormitory located in downtown Athens.
Prolepsis was the recipient of the funds raised during THI’s 2023 Easter Appeal. The funds raised supported the children of a school in Kileler with around 2,750 meals.
THI funds were allocated to support Desmos’ response to the February 2023 earthquakes in Turkey. They were used to purchase 9 containers, each capable of accommodating up to six survivors and equipped with essential amenities, like furniture, electricity, and heating.
On December 5, 2023, the Greek government declared a crisis in Central Greece, particularly in Thessaly and Magnesia, due to unprecedented rainfall causing severe flooding, notably around Volos, Karditsa and the coastal regions of the Pelion Mountain peninsula. DfW committed to assisting the affected population, with THI funding allocated to support their efforts. The program’s key objectives were to provide comprehensive primary healthcare services, tailored support for vulnerable cases, mental health assistance, distribution of personal protective equipment, and raising awareness of public health risks associated with water-borne viruses.
Entrepreneurs are critical to economic recovery and renewal — they are creating opportunity today and providing role models to change the hopes and aspirations of a new generation. By reigniting the Greek entrepreneurial spirit we can unleash a wave of innovation and creation, slowing the “brain drain” of young professionals by giving them a reason to stay in Greece and transform ideas into successful businesses.
Since its inception in 2018, Cyprus Seeds has backed 19 research teams, helping in the creation of 6 spinouts, with an additional 2 projects securing licensing agreements. Furthermore, the program has supported the filing of 8 international patents and contributed to the employment of 40 scientists in Cyprus.
THI funds were used to support the Greek film industry and enhance its infrastructure. GGFI organized a series of workshops in collaboration with seasoned film professionals from Greece and the US. These workshops aimed to cultivate skilled professionals, equipping them with the training they lacked, thereby preparing them for employment within the Greek film market.
The Venture Impact Awards have supported a total of 49 winners with $805,000 in prize funding. The winning teams have represented a wide array of sectors important to the Greek economy including agro/food, environment, computer science, education, recycling/upcycling, healthcare, eco-mobility, bio composite materials, cosmetics, social innovation, and microfinance.
Since its launch, VentureGarden has remained faithful to its motto of growing ideas into viable businesses. To date, it has played a pivotal role in helping create or support 281 ventures and generating 792 jobs for the economy. The companies it has helped create have collectively raised over $8,5 million in funding, growing its overall impact in the entrepreneurial landscape and Greek economy.
Since its launch in 2014, ReGeneration has created 3,732 youth placements in the job market, working with more than 1,399 companies and unlocking more than 30 million euro in salaries. The program has offered approximately 850,000 hours of soft and hard skills training, as well as 380,000 hours of up/re-skilling through its general and bespoke ReGeneration academies.
Since inception, a total of 82 companies have presented at THI’s Venture Fair, with over 70% of those companies still active, and having raised more than $500 million from other investors.
Greece can grow its way out of this crisis, but growth requires vision, capability and capital. Amidst the troubling headlines and statistics, there are viable businesses that can grow with our collective investment, creating jobs and delivering solid returns for investors. And there are visionary leaders eager to build companies and indeed an economy on stronger, more sustainable foundations. THI is investing in the future by supporting two initiatives that promote near-term job growth while laying the foundations for long-term strategic development:
The Hellenic Investment Fund is an impact investment fund targeting a “double bottom line” of investment returns and job growth. The fund will provide growth equity to small and midsized companies that are the backbone of the Greek economy and whose success is critical to fueling its recovery. Many THI board members are anchor investors, but it is a standalone, for-profit fund and THI will have no management or investment authority.
ReGeneration is the newest program in the THI Economic Development constellation. It is a 6-month practical training program (internship) offering multi-faceted work experience, meaningful training from certified trainers, and multiple opportunities for self-improvement and personal development.
The Australian Internship Program will work in partnership with the ground breaking ReGeneration program in Greece to find candidates for these unique opportunities.
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