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Matej Ftacnik - The Spot - Slovakia - Stanford Engineering - Feb 23 2015

Talk by Matej Ftacnik, Co-Founder - The Spot (SK), at Stanford on Feb 23 2015, in our session on 'Slovakia & Latvia :: Accelerators & Infographics Startups'. Website: http://www.StanfordEuropreneurs.org YouTube Channel: https://www.youtube.com/user/StanfordEuropreneurs Twitter: @Europreneurs

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Slovak Startup Ecosystem
Matej Ftacnik, co-founder The Spot Booster
@ftacnik
European Entrepreneurship & Innovation @ Stanford Engineering
23rd Feb 2015
2	
  
Heart of Europe
Member	
  of	
  EU	
  since	
  2004	
  
	
  	
  
-  5.5M Citizens
-  SK GDP - $94B (2012)
-  IBM rev.– $99B (2013)
Largest car producers per capita
Bratislava
500k	
  popula8on	
  
The Spot – Booster
NGO
Education
Networking
Mentorship
Incubator/Accelerator
EIR’s / Mentors
Funding
Corp. partnerships
Jumpstar8ng	
  innova8on	
  in	
  Slovakia	
  
2012
2014
Value
Proposition
World-class 450 mentors and initial seed financing
of up to 30K with follow-up funding of 30-250K.
Focus
Data, cloud services, analytics, transactional
technologies, fintech and e-commerce, B2B
technologies, location-based services, and security
software
Financing
Backed by private investors and the European
Commission
Estonia Czech Republic Slovakia Hungary Lithuania
Life at The Spot
Workshops,	
  events,	
  mentorship	
  

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Matej Ftacnik - The Spot - Slovakia - Stanford Engineering - Feb 23 2015

  • 1. Slovak Startup Ecosystem Matej Ftacnik, co-founder The Spot Booster @ftacnik European Entrepreneurship & Innovation @ Stanford Engineering 23rd Feb 2015
  • 2. 2   Heart of Europe Member  of  EU  since  2004       -  5.5M Citizens -  SK GDP - $94B (2012) -  IBM rev.– $99B (2013) Largest car producers per capita
  • 4. The Spot – Booster NGO Education Networking Mentorship Incubator/Accelerator EIR’s / Mentors Funding Corp. partnerships Jumpstar8ng  innova8on  in  Slovakia   2012 2014
  • 5. Value Proposition World-class 450 mentors and initial seed financing of up to 30K with follow-up funding of 30-250K. Focus Data, cloud services, analytics, transactional technologies, fintech and e-commerce, B2B technologies, location-based services, and security software Financing Backed by private investors and the European Commission Estonia Czech Republic Slovakia Hungary Lithuania
  • 6. Life at The Spot Workshops,  events,  mentorship  
  • 8. From Engineering to Bizdev A  short  bio   Companies Awards / CommunityNGO
  • 9. Startup ingredients Solving  the  missing  pieces  to  make  the  ecosystem  excel   Business Talent Lack of international experience / schooling Rare ingredients Abundant ingredients Venture Capital Availability of capital to large numbers of startups Government Support Signs of commitment to support the startup ecosystem Top Engineers Low volumes but high-quality talent coming out of schools Serial Entrepreneurs Small number of exits forces entrepreneurs to stay with one company Test Market National market too small to be final market
  • 10. Slovak success stories Who  already  made  it  or  is  on  it’s  way  there   Cyber Security 100M+ Customers Mobile Navigation 80M Users Game Developers 25M+ Gamers Mobile Web Creator Exit to godaddy.com
  • 13. Booster - after first 6 months Early  success  signals  from  porHolio  companies   500 000 EUR Raised seed funding FIT 500 000 EUR Raised seed funding Asseco CE March  2014  batch:   Invento SIGNEE  
  • 14. Slovak startup ecosystem A  brief  overview   Slovak President @ Stanford Governments  commitment  to  support  startups   John L. Hennessy Stanford President Andrej Kiska Slovak President
  • 15. Slovak startup ecosystem A  brief  overview   Venture Capital Community University Government
  • 16. Slovak startup ecosystem A  brief  overview   Corporate Associations Inc. / Acc. Mature Startups
  • 17. Bridging into the Valley Connec8ng  the  two  ecosystems   Mentors, experts, US entrepreneurs Getting people from Silicon Valley excited to come to Slovakia and broaden the knowledge pool of local startups. Market access/discovery Allowing more Slovak startups to experience Silicon Valley. Establishing a “Slovak house” that fosters relationships and acts as a bridge. Access to later stage capital Making it easier for high-potential Slovak startups to be considered for Series A or later stage funding from SV investors. Scouting innovation Enabling CEE corporates to scout and partner with SV startups making them more innovative. Opening a new market for those startups.
  • 18. Get in touch Matej Ftáčnik ftacnik@thespot.sk +421 911 278 426 @ftacnik 18