Some Greek expats are determined to help build a high-tech sector in their home country. Take Alexander Kostopoulos, 45, a Greek electrical engineer and computer scientist who received an MBA from the University of California at Berkeley. He returned home in 2004 and this year co-launched Reportbrain, a subscription-based SaaS news service that won second place in the MIT Enterprise Greece Competition.
The product analyzes 2 million news articles per day in 42 languages. So far, the company has 50 customers, including Bayer HealthCare, PriceWaterhouseCoopers and Hellenic Petroleum.
Although Reportbrain has big rivals — Dow Jones' Factiva and LexisNexis — its advanced analytics allow it to deliver content at a fraction of its competitors' costs. By targeting a $2 billion global market, the company has secured $500,000 in angel financing and is now looking to attract an additional $2 million from European venture capitalists to expand sales in Europe.
Pictured: Alexander Kostopoulos, president and CEO of Reportbrain