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 )
4. INTERNET SERVICES ADOPTION LAGGED…
Social House Online
networks listings insurance
Job
listings
online car
Online travel listings
Computer banking clothing/
etailing shoes
etailing
2000 2002 2004 2006 2010 2012
Year of adoption in Greece
-4-
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. INTERNET VENTURES HAVE LOWER
CAPITAL REQUIREMENTS…
•Low product development cost
•Efficient marketing
•Disruptive enjoy virality /social marketing
•Appeal to a larger market
-6-
7. …EVEN MORE SO IN GREECE
•Lower IT wages
•Lower rents
•Startups in Greece are used to lack of
support
Case 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. …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-
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. 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. AND THEN EVEN MORE …
167 STARTUPS MAPPED @Greekstartups.com
- 13 -
14. WE ARE JUST IN THE BEGINING..
MANY SUCCESS STORIES, NO MAJOR EXIT YET
- 14 -
20. WHICH CREATES AN OPPORTUNITY FOR
INVESTORS
Very appealing financial returns
Pride for participating in a disruptive investment
Social responsibility
- 20 -
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