Putting the pieces together
It all
       started in June 07,
      with the inaugurative
       Open Coffee Athens
            meeting




2 years ago
Since then, the
network has grown
                    40 events,
   really strong
                    in 6 cities
130 speeches,
   100s of participants
  & the interest on
entrepreneurship has
    skyrocketed




                       4
we came a long way
                    y-w ise
                unit
           c omm
still,
the ecosystem is broken
how can we
get there?
to start-up, you need

•brainpower
•community
•funding
•advisory
brainpower
•1.7% of greeks holding
 MSc or PhD
•#1 in EU regarding
 people studying abroad
•top in availability of
 scient...
to start-up, you need

•brainpower
•community
•funding
•advisory
to start-up, you need

✓ brainpower
•community
•funding
•advisory
to start-up, you need

✓ brainpower
•community
•funding
•advisory
start-ups @ OC

•they exist
•able to succeed
•interest is huge
•potential is even bigger
to start-up, you need

✓ brainpower
•community
•funding
•advisory
to start-up, you need

✓ brainpower
✓ community
•funding
•advisory
to start-up, you need

✓ brainpower
✓ community
•funding
•advisory
venture capital
•lots of traction lately
•a number of new funds
•significant capital
 available
•yet, no liquidity. why?
funding, worldwide
availability




               seed   VC rounds   public
funding, in greece
availability




               seed   VC rounds   public
0
  high-tech, early stage
investments in GR, 2007
      (in €, EVCA)
venture capital
•no angel / early stage
•risk averse
•lack of knowledge in the
 tech field
•no relevant network
to start-up, you need

✓ brainpower
✓ community
•funding
•advisory
to start-up, you need

✓ brainpower
✓ community
- funding
•advisory
to start-up, you need

✓ brainpower
✓ community
- funding
•advisory
advisory

•more vital than money
•providing expertise,
 directions & contacts
•you need the best, with
 a network of globa...
advisory
•harder to find than VCs
•locals, not well
 connected
•intnls, not approachable
•you are left in the dark
to start-up, you need

✓ brainpower
✓ community
- funding
•advisory
to start-up, you need

✓ brainpower
✓ community
-   funding
-   advisory
so?

•the system is broken,
 start-ups are few
•but solutions exist
•we are here to put the
 pieces together
who are we
George Tziralis
entrepreneur,
open coffee, GR




 initiator & principal organiser
      of Open Coffee Athens
George Kasselakis
entrepreneur,
open coffee, GR




principal organiser of Open
    Coffee Thessaloniki
Dimitris
Athanasiadis
entrepreneur,
open coffee, GR

         the think-tank behind the endeavor,
              PhD & edit...
raised $5M
       & counting, now CTO


Spiros Xanthos
entrepreneur, pattern
insight, CA
e-shop.gr made a turnover
              of 120M € in 2008 alone




Apostolos Apostolakis
entrepreneur, e-shop, GR
Teresa Farmaki
venture capitalist,
piraeus bank, GR




  set up the Piraeus VC fund from
scratch, now head of Private Equ...
Yannis
Dosios
VP marketing,
smilebox,
WA, US

x-Senior Product Manager at MS,
   now setting up smilebox EU
advisors

•an extensive list
•on technology,
 management, sales,
 marketing, plus more
• exceptional people from
 around t...
some of the advisors
•Tassoco-founder, Aster Data
- CTO &
        Argyros
   Systems, CA

•Francesco Benincasa UK
- Direct...
some of the advisors
•Andrew Hyde
- Entrepreneur, Techstars
•Panos Ipeirotis Stern
- Associate Professor,
   School of Bus...
some of the advisors

•Ioannis Methodios
- x-CEO, Accenture, Greece
•GeorgeManager, Google,
- Country
           Saliaris-...
what we do
goal

•find the best and
 brightest teams
•help them build globally
 aimed start-ups
•make them succeed
looking for
•stellar teams
•globally innovative
 ideas, still at seed level
•disruptive biz models
•in and around software...
call for proposals
•open to everyone
 (teams of 2-4)
•online submission,
•in person interview &
•presentation day
“incubate”
•pick up to 5 start-ups
•extensively support in
 all things start-up
•for a 4-month period
•iterate
offer
•hands-on mentoring,
 day-to-day, no interfering
•networking, globally
•20-30k€ for 20% of
 shares
•smooth start & g...
all you need to
•quit everything else
•focus on your skills,
 team & idea
•don’t waste time on
 unproductive activities
•m...
commitment

•by sharing the stakes
•80%, entrepreneurs
•12%, investors
•8%, open fund
call for investors
•open for everyone
 interested
•minimum investment
 30k€, “hassle-free”
•providing equal shares
 to all...
re-invent the wheel?
•no, model tested before
•YCombinator,
 Seedcamp, Techstars...
•it works!
•& it’s what’s missing
 here
schedule

•call opens in late June
•closes in Sep 30
•review & selection in
 mid Nov
•incubation starts Dec 1
•we are putting the
 pieces together
•to create what we wish
 we could have
•leverage on our
 expertise & network
•to enab...
www.theopenfund.com
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11 τζιραλησ Open Fund

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11 τζιραλησ Open Fund

  1. 1. Putting the pieces together
  2. 2. It all started in June 07, with the inaugurative Open Coffee Athens meeting 2 years ago
  3. 3. Since then, the network has grown 40 events, really strong in 6 cities
  4. 4. 130 speeches, 100s of participants & the interest on entrepreneurship has skyrocketed 4
  5. 5. we came a long way y-w ise unit c omm
  6. 6. still, the ecosystem is broken
  7. 7. how can we get there?
  8. 8. to start-up, you need •brainpower •community •funding •advisory
  9. 9. brainpower •1.7% of greeks holding MSc or PhD •#1 in EU regarding people studying abroad •top in availability of scientists and engineers
  10. 10. to start-up, you need •brainpower •community •funding •advisory
  11. 11. to start-up, you need ✓ brainpower •community •funding •advisory
  12. 12. to start-up, you need ✓ brainpower •community •funding •advisory
  13. 13. start-ups @ OC •they exist •able to succeed •interest is huge •potential is even bigger
  14. 14. to start-up, you need ✓ brainpower •community •funding •advisory
  15. 15. to start-up, you need ✓ brainpower ✓ community •funding •advisory
  16. 16. to start-up, you need ✓ brainpower ✓ community •funding •advisory
  17. 17. venture capital •lots of traction lately •a number of new funds •significant capital available •yet, no liquidity. why?
  18. 18. funding, worldwide availability seed VC rounds public
  19. 19. funding, in greece availability seed VC rounds public
  20. 20. 0 high-tech, early stage investments in GR, 2007 (in €, EVCA)
  21. 21. venture capital •no angel / early stage •risk averse •lack of knowledge in the tech field •no relevant network
  22. 22. to start-up, you need ✓ brainpower ✓ community •funding •advisory
  23. 23. to start-up, you need ✓ brainpower ✓ community - funding •advisory
  24. 24. to start-up, you need ✓ brainpower ✓ community - funding •advisory
  25. 25. advisory •more vital than money •providing expertise, directions & contacts •you need the best, with a network of global reach
  26. 26. advisory •harder to find than VCs •locals, not well connected •intnls, not approachable •you are left in the dark
  27. 27. to start-up, you need ✓ brainpower ✓ community - funding •advisory
  28. 28. to start-up, you need ✓ brainpower ✓ community - funding - advisory
  29. 29. so? •the system is broken, start-ups are few •but solutions exist •we are here to put the pieces together
  30. 30. who are we
  31. 31. George Tziralis entrepreneur, open coffee, GR initiator & principal organiser of Open Coffee Athens
  32. 32. George Kasselakis entrepreneur, open coffee, GR principal organiser of Open Coffee Thessaloniki
  33. 33. Dimitris Athanasiadis entrepreneur, open coffee, GR the think-tank behind the endeavor, PhD & editor among others
  34. 34. raised $5M & counting, now CTO Spiros Xanthos entrepreneur, pattern insight, CA
  35. 35. e-shop.gr made a turnover of 120M € in 2008 alone Apostolos Apostolakis entrepreneur, e-shop, GR
  36. 36. Teresa Farmaki venture capitalist, piraeus bank, GR set up the Piraeus VC fund from scratch, now head of Private Equity
  37. 37. Yannis Dosios VP marketing, smilebox, WA, US x-Senior Product Manager at MS, now setting up smilebox EU
  38. 38. advisors •an extensive list •on technology, management, sales, marketing, plus more • exceptional people from around the world
  39. 39. some of the advisors •Tassoco-founder, Aster Data - CTO & Argyros Systems, CA •Francesco Benincasa UK - Director, Ultimate Holdings, •Aristos Doxiadis - Managing Director, Notos Associate, Greece
  40. 40. some of the advisors •Andrew Hyde - Entrepreneur, Techstars •Panos Ipeirotis Stern - Associate Professor, School of Business NYU, NY •John Lovitt SVP Rational/ - Investor, former IBM, CA
  41. 41. some of the advisors •Ioannis Methodios - x-CEO, Accenture, Greece •GeorgeManager, Google, - Country Saliaris-Fasseas Greece •Christos Tsangos - CEO, Microsoft, Greece
  42. 42. what we do
  43. 43. goal •find the best and brightest teams •help them build globally aimed start-ups •make them succeed
  44. 44. looking for •stellar teams •globally innovative ideas, still at seed level •disruptive biz models •in and around software and the web
  45. 45. call for proposals •open to everyone (teams of 2-4) •online submission, •in person interview & •presentation day
  46. 46. “incubate” •pick up to 5 start-ups •extensively support in all things start-up •for a 4-month period •iterate
  47. 47. offer •hands-on mentoring, day-to-day, no interfering •networking, globally •20-30k€ for 20% of shares •smooth start & grow
  48. 48. all you need to •quit everything else •focus on your skills, team & idea •don’t waste time on unproductive activities •make it happen
  49. 49. commitment •by sharing the stakes •80%, entrepreneurs •12%, investors •8%, open fund
  50. 50. call for investors •open for everyone interested •minimum investment 30k€, “hassle-free” •providing equal shares to all start-ups of a round
  51. 51. re-invent the wheel? •no, model tested before •YCombinator, Seedcamp, Techstars... •it works! •& it’s what’s missing here
  52. 52. schedule •call opens in late June •closes in Sep 30 •review & selection in mid Nov •incubation starts Dec 1
  53. 53. •we are putting the pieces together •to create what we wish we could have •leverage on our expertise & network •to enable you to properly start-up
  54. 54. www.theopenfund.com

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