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11 τζιραλησ Open Fund


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