A Memorandum of Cooperation for the promotion of Innovation and the strengthening of Entrepreneurship was signed by the Hellenic Association of Chemical Industries (HACI) and the Hellenic Development Bank (HDB)

A Memorandum of Cooperation for the promotion of Innovation and the strengthening of Entrepreneurship was signed by the Hellenic Association of Chemical Industries (HACI) and the Hellenic Development Bank (HDB).

The collaboration focuses on supporting innovation developed by companies that manufacture paints, asphalt, detergents, synthetic materials for insulation, fertilizers, petrochemicals, and more.

The President of the Hellenic Association of Chemical Industries, Mr. Armodios Giannidis, and the Vice President of the Hellenic Development Bank, Mr. Pantelis Tzortzakis, sealed the commitment of both parties to collaborate in order to jointly launch initiatives that will support the Greek entrepreneurial and innovation ecosystem, leveraging the strength of HACI.

HACI, founded in 1994, represents companies based in Greece involved in the production, storage, and trade of chemical products. It represents 70 members and 7 sector-specific associations covering various activities such as paints, asphalt, detergents, synthetic materials for insulation, fertilizers, petrochemicals, and more.

The two parties specifically agreed to combine their efforts for:

• The creation of conditions for accelerating collaborations among Greek companies to establish internationally competitive business structures.
• Providing HACI members with access to digital networking platforms with international ecosystems, with a primary focus on extroversion, attracting investment capital, and seeking commercial partners.
• The study and development of criteria for evaluating and creating automated methods for qualitative and quantitative assessment of business plans, as well as monitoring the implementation of hybrid financing tools that combine loans, guarantees, co-financing, grants, and equity participation.
• Collaboration between HACI and HDB to design and implement various financial tools aimed at protecting the intellectual property rights of market companies and commercially realizing related university research programs.

The President of the Hellenic Association of Chemical Industries (HACI), Mr. Armodios Giannidis, stated:

“The strategic partnership signed with the Hellenic Development Bank (HDB) aims to support innovation developed by companies that manufacture paints, asphalt, detergents, synthetic materials for insulation, fertilizers, petrochemicals, and more, and are represented by HACI. The support of these companies contributes to the national economy and creates significant growth prospects. It is a fact that innovative solutions for both domestic and professional use, produced at the national level, are successfully seeking their fortune in the global market and enjoy international acceptance. With innovative materials and services, the chemical industry provides solutions in the healthcare and environmental protection sectors, offering proposals for the circular economy and climate change, which is why its efforts are also supported by the Recovery Fund. Furthermore, the EU, through the Green Deal, considers the chemical industry as one of the key sectors of the European economy contributing to sustainability, due to its wide penetration and the support it can provide in achieving targets. We believe that the actions of extroversion and the financial tools created by HDB will further enhance the competitiveness of our members.”

On his part, the Vice President of the Hellenic Development Bank (HDB), Mr. Pantelis Tzortzakis, emphasized:

“At the Hellenic Development Bank (HDB), we continue to create constructive and strategic partnerships, such as the one we have today with HACI. There is a strong chemical foundation behind almost every sector. It is also a fact that the successful international trajectory of HACI members is based on research and innovation, and they are at the forefront of developments. Furthermore, we believe that through this collaboration, we are also supporting new entrepreneurship that can emerge from successful university research projects with research proposals that will be adopted by the association’s members. Specifically, future programs from HDB designed for the development of new patents, as well as continued support for the development of their related pilot commercial proposals, will find an excellent and receptive environment within the companies of the sectors united through the association, ultimately strengthening the competitiveness of the Greek economy.”

About the Hellenic Association of Chemical Industries (HACI)

HACI was founded in February 1994 by the 28 largest companies involved in the production, storage, and trade of chemical products in Greece.

HACI is a full member of CEFIC (European Chemical Industry Council) and ECEG (European Council of Employers of the Chemical Industry), both based in Brussels.

The production of chemical products amounts to €3.1 billion, and the chemical industry employs 13.000 people.

Chemical product exports exceed €2 billion, making the chemical industry one of the top export sectors in Greece.

The strategy for sustainable chemicals, climate change goals, energy security, and digital transformation are key priorities for the Greek chemical industry.

Distinguished (from left to right): Takis Papageorgiou, Director of Business Innovation, Hellenic Development Bank; Panagiotis Skarlatos, General Director, Hellenic Association of Chemical Industries; Armodios Giannidis, President, Hellenic Association of Chemical Industries; Pantelis Tzortzakis, Vice President, Hellenic Development Bank; Kostas Kalogerakis, Director of Fintech Innovation, Hellenic Development Bank.

Armodios Giannidis, President, Hellenic Association of Chemical Industries and Pantelis Tzortzakis, Vice President, Hellenic Development Bank.