Artificial intelligence is increasingly reshaping how Greek startups think about growth, funding and risk. Speaking on the "Homo sAIence" vidcast by Voria.gr, Antonis Ilias, argues that AI can be a powerful ally for founders who want to scale without immediately relying on external capital. A partner at TECS Capital, Ilias has invested in eight startup ventures through the fund's first and second vehicles so far and plans to back a further 15 over the next three years.
"The ability for a company to grow on its own, at least in certain phases of its development, is often a necessary choice," he says. AI contributes to this by reducing costs that would otherwise likely require external financing. If the product addresses a real need and customers are accessible, founders can use AI tools to generate revenue quickly enough to sustain momentum.
External funding, however, still plays a critical role. Venture capital can accelerate growth by covering needs for speed, access to large data volumes and infrastructure. While Ilias stresses that the ultimate test of a business idea is winning customers, not securing funding approval, engagement with investors can be invaluable. "The more exposure a business idea receives, the more comments and interaction there are, the more useful the process is for founders," he notes, stressing the importance of feedback loops in refining early-stage concepts.
For startups that place AI at their core, investors increasingly pose pointed questions. What happens if a company relies on existing AI models that later disappear or become prohibitively expensive? How would that affect the product? Where does the training data come from? If data sources are easily accessible, any competitive advantage may be short-lived.
Regarding "solopreneurs," Ilias acknowledges that AI lowers the barrier to starting alone. It gives individuals time to progress and perhaps find collaborators later. Yet he remains cautious. Even if exceptions emerge, scaling to significant heights usually requires teams, relationships and strategic partnerships that are difficult for one person to manage alone.
Funding conditions also appear favourable. According to Ilias, sophisticated financial tools are available, ranging from venture capital and angel investors to national and international programmes, many of which are targeted specifically at AI.
Globally, AI startup funding reached a record 193 billion US dollars in 2025, though much of it flowed to established players rather than very small ventures. For Greece, the message is nuanced: AI offers founders greater autonomy in early stages, but long-term resilience still depends on robust teams, credible roadmaps and a maturing innovation ecosystem.
