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Vassilis Nikolopoulos - Intelen - Stanford - Jan 31 2011

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Vassilis Nikolopoulos - Intelen - Stanford - Jan 31 2011

  1. 1. Innovate through ecosystems European Entrepreneurship and Innovation Thought Leaders Stanford University - Engineering School Monday 31 January 2011 Vassilis Nikolopoulos, PhD Founder, CEO Chief Innovation OfficerEuropean Entrepreneurship and Innovation Thought Leaders - Stanford Engineering School
  2. 2. Who am I • Electrical engineer valedictorian (Dundee) • Postgrad @ Imperial, LSE, Ecole polytechnique, NTUA • Military service as Officer in Communications • Worked as CIO and BDM in big companies • 7 years experience in Trend analysis and Innovation • Over 20 publications in Journals and conferencesEuropean Entrepreneurship and Innovation Thought Leaders - Stanford Engineering School
  3. 3. GreeceEuropean Entrepreneurship and Innovation Thought Leaders - Stanford Engineering School
  4. 4. Idea and money - If you have a good idea… will you make money ? - The best idea should have the best timing - Intelen had a good idea in the correct time - Having all the above you should monetize ! - but we were at the wrong place…no ecosystemEuropean Entrepreneurship and Innovation Thought Leaders - Stanford Engineering School
  5. 5. Intelen • Start up coming from the National Tech. Uni. of Athens • Founded in 2006, legal entity from 2009 • Deals with Web 2.0 smart metering and Energy ICT • Applications on Soft Grid (Smart Grid IT apps) • New vision: Social Power Dynamics and GameficationEuropean Entrepreneurship and Innovation Thought Leaders - Stanford Engineering School
  6. 6. Intelen’s funding history • EU Research grants from Medialab @ NTUA (~30K) • Some more funding from National Research projects (~60K) • Rest of capital was self-funding from the founders • Currently pitching to raise seed funding for product validation • Some more rounds to follow OR attract industrial partnerEuropean Entrepreneurship and Innovation Thought Leaders - Stanford Engineering School
  7. 7. Intelen Pitch sentences… We convert power data into human social behaviors We shape your demand by using social gamesEuropean Entrepreneurship and Innovation Thought Leaders - Stanford Engineering School
  8. 8. Intelen prizes • National Innovation contest winner in Greece (2007) • Red herring top-100 winner in Europe and Global (2010) • GuideWire finalist for top-100 tech start-ups worldwide • Three patents in Energy algorithmics and Web metering • Proposed for Stevie awards and Eco-Innovation in EUEuropean Entrepreneurship and Innovation Thought Leaders - Stanford Engineering School
  9. 9. Silicon Valley… • We are here to raise funding • We are here to expand • We are here to stay… • We are here to share a visionEuropean Entrepreneurship and Innovation Thought Leaders - Stanford Engineering School
  10. 10. Why Silicon ? • because there is a huge eco-system everywhere • because Seed and Angel funding is an existing entity • because big players are here to invest • because incubation here begins from University • because here you can setup a company in a few days…European Entrepreneurship and Innovation Thought Leaders - Stanford Engineering School
  11. 11. Innovation in Greece • Innovation is rather a toxic and high risk thing to do… • NO eco-system to support any startup or new idea • There is no Angel or Seed funding available • Failure is a very BAD thing that can lead you to jail • There is no proper way to evaluate new ideas or startupsEuropean Entrepreneurship and Innovation Thought Leaders - Stanford Engineering School
  12. 12. Greek legal framework • Very complicated and hard to setup a company (~2 months) • High taxation (45%) and VAT (23%) discourages investments • High investment risk because of a NON-stable framework • Government is not securing investments; cares only for taxes • Bureaucracy is everywhere and a big problem for anyoneEuropean Entrepreneurship and Innovation Thought Leaders - Stanford Engineering School
  13. 13. Building an Ecosystem for startups • Start innovating in Universities and SMEs • Providing fast incubation for students and coaching • Give access to high risk investment funds and angels • Help start-up ignition while in the valley of death • Stop looking for a job and invent one !European Entrepreneurship and Innovation Thought Leaders - Stanford Engineering School
  14. 14. Some thoughts… • Super angles and super seeds will play for VCs ? • 95% of the successful startups haven’t used more than 10K • Is it better to look for funding OR to look for industrial partner ? • What is the role of Government for the innovation ? • Who is going to evaluate and fund start-ups ?European Entrepreneurship and Innovation Thought Leaders - Stanford Engineering School
  15. 15. Thank you ! Googling: intelen v.nikolopoulos@intelen.gr http://gr.linkedin.com/in/vnikolop http://twitter.com/intelen http://www.intelen.comEuropean Entrepreneurship and Innovation Thought Leaders - Stanford Engineering School

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