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News Link • Employment & Jobs

Unemployed Greeks Look To Create Their Own Jobs

•, by Joanna Kakissis

In Greece, more than 21 percent of the working-age population is jobless. For Greeks under age 25, the rate is more than double that.

Some young Greeks are frightened that the economy, now in free fall, will take years to recover, so they're leaving for jobs abroad. A few entrepreneurs, however, are trying to start businesses during the worst recession in decades.

A magnet for these young entrepreneurs is CoLab, a business incubator in a weathered building near the Athens Cathedral in the city center. CoLab opened in 2009, with just one occupant — a Spanish travel writer.

Now, it has 45 occupants including software and programming whizzes, Web developers, corporate responsibility consultants and even a couple of yogis.
One of the stars here is Panos Papadopoulos, a 28-year-old computer scientist. He's the co-founder of BugSense, which tracks bugs in mobile phone applications. BugSense is already making a profit and has Silicon Valley investors.

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