Openfund - How to Apply

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WYS vs WYG, or What entrepreneurs believe and write versus what investors read and understand when reading applications in structures like the Openfund. A guide to read before you apply.

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  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • to create a web start-up, essentially you need
    enough brainpower, a strong community and ecosystem to take advantage of,
    enough and proper funding and proper advisory to guide you through the whole process.
  • Hello all, my name is George Tziralis and I'm here to give you another perspective -actually a bottom-up view- on greek entrepreneurship.
    Our humble story starts almost two years ago,
  • Openfund - How to Apply

    1. 1. WYS vs WYG how to apply to the Openfund* or other relevant structures Tue Feb 23 2010, Open Coffee Athens XXX
    2. 2. WYS vs WYG •WYS (What You See): What entrepreneurs write •WYG (What You Get): What investors read
    3. 3. how to apply, let’s •share some insights •break some myths •provide some advice *some: subjective views & limited experience
    4. 4. application structure •description •competition •team •funding •product •goals
    5. 5. WYS - description •complex is good • . .
    6. 6. WYG - description •complex is good •complex is not easily sellable •neither to investors nor clients
    7. 7. WYS - description •fantastic idea! (even if it’s irrelevant) •......... .......
    8. 8. WYG - description •fantastic idea! (no matter it’s irrelevant) •only software/web/ mobile ideas accepted •do your homework first
    9. 9. description •simple & concise (demo/ video are cool) •to the extent you get clear •also provide a one- sentence pitch
    10. 10. WYS - team •we’ve so far excessive experience & success! • . .
    11. 11. WYG - team •we’ve so far excessive experience & success! •then, why bother? •are you committed?
    12. 12. WYS - team •strong technical background (but let’s skip the details) • .
    13. 13. WYG - team •strong technical background (but let’s skip the details) •share your past work •what about business?
    14. 14. team •introduce yourselves, tell us more about you •how members bond & complement each other •trade-off between skills & commitment, pick wisely
    15. 15. WYS - product •we’ll build the next Google (or equivalently huge project) • •. .
    16. 16. WYG - product •we’ll build the next Google (or equivalently huge project) •mission impossible, or •you have no idea
    17. 17. WYS - product •we’ll build the local X • • •. .
    18. 18. WYG - product •we’ll build the local X •shallow market, no opportunity •hard to beat a well- positioned product
    19. 19. product •be reasonable, beyond sharing your excitement •showcase that you know what you are up to •also that you have a plan & focus on a specific idea
    20. 20. WYS - competition •we are one of a kind • • •. .
    21. 21. WYG - competition •we are one of a kind •no market research performed, or •a questionable need
    22. 22. WYS - competition •are there competitors? yes/no (one word) • •. .
    23. 23. WYG - competition •are there competitors? yes/no (one word) •care to share? •is it reasonable to build a new product & compete?
    24. 24. competition •provide a list & more of your closest competitors •showcase that you differ •educate your reader, pitch your expertise
    25. 25. WYS - funding •we’re superb! thus, we ask for more money • •. .
    26. 26. WYG - funding •we’re superb! thus, we ask for more money •you haven’t done your homework, study what is offered
    27. 27. WYS - funding •we’re modest, we ask for less money • . .
    28. 28. WYG - funding •we’re modest, we ask for less money •the targets are set low, or •you’re not serious about
    29. 29. funding •make a request within the range offered •provide a rough cost breakdown •next to a product, set up a scalable business
    30. 30. WYS - goals •we’ll have millions of users, within 4 months • . .
    31. 31. WYG - goals •we’ll have millions of users, within 4 months •unrealistic targets, or •very inexperienced team
    32. 32. WYS - goals •we’ll be ready to start building a product • . .
    33. 33. WYG - goals •we’ll be ready to start building a product •you are very slow, or •the product does not fit
    34. 34. goals •pave the way to a working product, quantify •bringing you close to a next round of funding, or • organic sustainability/
    35. 35. in general •researchers: try to satisfy the reviewer •freelancers: try to satisfy the customer •now you’re looking for a partner, build trust!
    36. 36. Solve a real problem, have a strong team, demonstrate a prototype. Alexey Orap, YouScan
    37. 37. Be as extensive as possible, this shows that you are serious. Alexis Ballas, Fashinating
    38. 38. Make sure you stop, think about your customer's problem, brainstorm within team and propose to solve Miro Solanka, Sportmeets
    39. 39. Tell your story, who you are and why you feel passionate about your idea. Passion and enthusiasm are infectious. Alex Schleifer, Listiki
    40. 40. WYS vs WYG •WYS: This will take a lot of work •WYG: Extensive support for an exciting journey, plus we are in this together
    41. 41. apply till Feb 28 http://theopenfund.com | info@theopenfund.com

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