Capital inflows exceeding 250 million euros are expected to be channelled into the Greek defence ecosystem over the coming years through the Hellenic Centre for Defence Innovation (ELKAK), excluding amounts included in the forthcoming 2026 research and development project.
“We are promoters of the Greek defence innovation ecosystem,” the ELKAK leadership noted, aligning its approach with that of other states which have chosen to open funding pathways for defence technology and innovation. This model integrates universities, research institutions, start-ups, SMEs and the Armed Forces into the modern battlespace.
Greece currently allocates 3.2% of GDP to defence, while the domestic defence industry contributes approximately 0.7% of GDP. Expanding this share is therefore described as a strategic objective, alongside the broader scaling of the defence industrial base, not only through increased activity by established defence contractors, but also through the strengthening and maturation of emerging and smaller enterprises capable of becoming innovation hubs in the defence technology sector.
The key question, according to the report, is whether this effort will be sustained over time, with long-term objectives, clear direction and coordination within the country’s broader defence strategy, given that defence, security and resilience require strict adherence to defined strategic objectives.
Funding
On the occasion of a briefing on its work to date, two years after its establishment, ELKAK management outlined its funding sources, which include 90 million euros allocated for research and development projects, an additional 14 million euros already contracted, 85 million euros designated for Greece’s national participation in European research programmes, and 60 million that ELKAK aims to raise through partnerships with third-party investors for participation in the equity of defence innovation start-ups.
According to estimates, the leverage effect of these funds is expected to significantly increase the overall impact of ELKAK’s financing activity on the Greek economy and the domestic defence ecosystem, with total economic impact projected to exceed 450 million euros.
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