My understanding is it refers to 'something new' like new beginnings. However I did read somewhere that there is another similar word which sounds/pronounced the same way which means also means 'new', but new as in never before happened. It is not a new model Ford car or another new job that has happened before, rather something totally different or a new experience in your life. It might also be the same word but with two meanings.
νέο ξεκίνημα (neo ksekinima)
The Greek word for Beginning is αρχή (archí̱)
The Latin words for new beginning are Novus Initium
The Greek word Kyrios means lord or master.
Nemisis
The Greek word for "new" is "νέος" (neos).
The Greek word neos means "new."
flagon
The ancient Greek word arche (αρχή) means "beginning".
In the beginning was the word. This is New Testament, John.
Prefixes are added to the beginning of a word. This is to make a new word.
The name comes from the Greek word neos, meaning new.
Νέα αρχή [Nea arhi]