Phaistos Investment Fund is an innovative initiative of the Greek State based on specific insights regarding 5G. Specifically, there is a solid belief in the disruption of traditional models according to which industries (Verticals) operate. 5G infrastructure is not the sole catalyst of this change, as the relevant ecosystem will also be an economic multiplier. Verticals are the main beneficiaries of this forthcoming disruption. Existing innovative SMEs or startups will develop the services and act as “Disruption Catalysts”.
In this new era, the main objectives are to:
- Drive the country’s digital transformation & competitiveness.
- Boost & attract investments in an “Economy Multiplier” like the 5G ecosystem.
- Formulate a “Profit Platform” for Public & Private Limited Partners.
- Facilitate tangible and substantial growth for relevant Businesses with emphasis to SMEs.
- Place State services at the forefront of the market’s benchmarks.
To achieve these objectives, Phaistos is an investment fund with specific innovative characteristics:
- Specialized Venture Capital, focused on 5G-related services and products.
- The State as the anchor investor, instrumentalizing relevant 5G spectrum tender, allocating 25% of the revenues into 5G ecosystem investments.
- Access to reserved spectrum for pilot tests and trials for a defined period of time.
- Access to State-Owned Enterprises, acting as 1st customer for relevant innovative products & services
- Access to Universities & Research organizations to enhance specific R&D resources needed by investees.
The deployment of 5G infrastructure alone will be of limited impact, if it is not accompanied by the development of the relevant 5G ecosystem. Innovative SMEs and startups will act as the key stakeholders and “Disruption Catalysts” of the Verticals seeking increased productivity through the full capitalization of Cloud, Big Data, and AI that powerful 5G connectivity provides.
Phaistos Investment Fund, a key initiative within the holistic approach of the Greek administration to develop a profitable and sustainable 5G related market, constitutes an effective bridge between State & Private investments, as it brings together the best of these two worlds, offering unique capabilities. Through its focus on the 5G market it is best positioned to produce remarkable returns as well as national economic growth.