Digital entrepreneurship in greece path to a better future lse 22 apr2013

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A presentation delivered during the 2nd annual LSE alumni event in Athens on April 2013 (www.lsealumni.gr)
It describes the Greek specific as well as the general situation that prompted the recent digital entrepreneurship wave.
References are made to some leading Greek starups like taxibeat, doctoranytime, warply , hellasdirect, e-food, incrediblue, as well as the main entrepreneurial resourses in Greece (seed funds, coworking spaces, incubators, accelerators )

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  • Entrepreneurial ecosystem in Greece is alive and kicking innovation Therefore it is important for Greece as small market to have easier access to Europe and the rest of world
  • Όλα γίνονται μέσω internet…
  • Όλα γίνονται μέσω internet…
  • Digital entrepreneurship in greece path to a better future lse 22 apr2013

    1. 1. Digital Entrepreneurship as an opportunity for Greece Apostolos Apostolakis 2nd Annual conference April 22nd 2013 -1-
    2. 2. APOSTOLOS: STARTUPS AS A WAY OF LIFE  1998 Cofounder e-shop.gr 2009 Cofounder Openfund.com 2011 Seed investor, advisor Taxibeat.com 2012 Cofounder e-food.gr 2012 Cofounder doctoranytime.gr -2-
    3. 3. Circumstances in GreeceResult: digital entrepreneurship tsunamiOpportunities -3-
    4. 4. INTERNET SERVICES ADOPTION LAGGED… Social House Online networks listings insurance Job listings online car Online travel listingsComputer banking clothing/etailing shoes etailing2000 2002 2004 2006 2010 2012 Year of adoption in Greece -4-
    5. 5. …WITH STILL ROOM FOR DISRUPTION Full doctor profile review and online appointment booking not possible before July 2012 Online delivery-food ordering was possible only by the end of 2011 -5-
    6. 6. INTERNET VENTURES HAVE LOWER CAPITAL REQUIREMENTS…•Low product development cost•Efficient marketing•Disruptive enjoy virality /social marketing•Appeal to a larger market -6-
    7. 7. …EVEN MORE SO IN GREECE•Lower IT wages•Lower rents•Startups in Greece are used to lack ofsupportCase study 18 months and 1 million euro funding •40,000 rides per month in Greece •30,000 rides per month in Brazil •Recently launched in Paris -7-
    8. 8. …AND OFFER FAST BUSINESS DEPLOYMENT Within 10 months •1600 available doctors •books 1000 appointments per month Within 16 months •700 restaurants •3 cities •receives 800 orders per day -8-
    9. 9. GREEK CRISIS:AMPLE TALENT OPEN TO NEW EMPLOYMENT OPPORTUNITIES -9-
    10. 10. CIRCUMSTANCES HELP BUILD UP A WAVE - 10 -
    11. 11. THINGS STARTED JUST A FEW YEARS AGO Until 2007 no recurrent technology meetup in Greece Until 2009 no seed investing fund in Greece - 11 -
    12. 12. MANY MAJOR STARTUPS HAVE LAUNCHED IN THE LAST 2 YEARS Raised more than 5 million euro funding for Greek operations Raised 1,85 million USD funding, active in more than 10 countries Profitable startup with main revenue from international clients 2 seed round total 400K Traction in Greece Brazil and Spain - 12 -
    13. 13. AND THEN EVEN MORE …167 STARTUPS MAPPED @Greekstartups.com - 13 -
    14. 14. WE ARE JUST IN THE BEGINING..MANY SUCCESS STORIES, NO MAJOR EXIT YET - 14 -
    15. 15. - 15 -
    16. 16. OPPORTUNITY FOR ENTREPRENEURS: LAUNCH OR WORK FOR DISRUPTIVE PROJECTS - 16 -
    17. 17. MANY AVAILABLE RESOURSESCo-working spacesAccelerators/Incubators/Advisors - 17 -
    18. 18. FUNDING IS EASIER… Angel investors - 18 -
    19. 19. …BUT DOESN’T KEEP-UP WITH DEMAND SO PUSH THE BUTTON - 19 -
    20. 20. WHICH CREATES AN OPPORTUNITY FOR INVESTORSVery appealing financial returnsPride for participating in a disruptive investmentSocial responsibility - 20 -
    21. 21. OPPORTUNITY FOR GREECEHIGHER EMPLOYMENT-EXPORTS -COMPETITIVENESS - 21 -
    22. 22. THANK YOU APOSTOLOS APOSTOLAKIS - 22 -

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