Startup Stories: Openfund

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Η παρουσίαση των Γιώργου Τζιραλή και Γιώργου Κασσελάκη στην εκδήλωση Startup Stories.

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Startup Stories: Openfund

  1. 1. Putting the pieces together
  2. 2. 240507 / London
  3. 3. 2 years ago
  4. 4. 40 events, in 6 cities
  5. 5. 130 speeches, 100s of participants 6
  6. 6. 2009 7
  7. 7. we came a long way y-w ise unit c omm
  8. 8. still, the ecosystem is broken
  9. 9. how can we get there?
  10. 10. to start-up, you need •brainpower •community •funding •advisory
  11. 11. brainpower •1.7% of greeks holding MSc or PhD •#1 in EU regarding people studying abroad •top in availability of scientists and engineers
  12. 12. to start-up, you need •brainpower •community •funding •advisory
  13. 13. to start-up, you need ✓ brainpower •community •funding •advisory
  14. 14. to start-up, you need ✓ brainpower •community •funding •advisory
  15. 15. start-ups @ OC •they exist •able to succeed •interest is huge •potential is even bigger
  16. 16. to start-up, you need ✓ brainpower •community •funding •advisory
  17. 17. to start-up, you need ✓ brainpower ✓ community •funding •advisory
  18. 18. to start-up, you need ✓ brainpower ✓ community •funding •advisory
  19. 19. venture capital •lots of traction lately •a number of new funds •significant capital available •yet, no liquidity. why?
  20. 20. funding, worldwide availability seed VC rounds public
  21. 21. funding, in greece availability seed VC rounds public
  22. 22. 0 high-tech, early stage investments in GR, 2007 (in €, EVCA)
  23. 23. venture capital •no angel / early stage •risk averse •lack of knowledge in the tech field •no relevant network
  24. 24. to start-up, you need ✓ brainpower ✓ community •funding •advisory
  25. 25. to start-up, you need ✓ brainpower ✓ community - funding •advisory
  26. 26. to start-up, you need ✓ brainpower ✓ community - funding •advisory
  27. 27. advisory •more vital than money •providing expertise, directions & contacts •you need the best, with a network of global reach
  28. 28. advisory •harder to find than VCs •locals, not well connected •intnls, not approachable •you are left in the dark
  29. 29. to start-up, you need ✓ brainpower ✓ community - funding •advisory
  30. 30. to start-up, you need ✓ brainpower ✓ community - funding - advisory
  31. 31. so? •the system is broken, start-ups are few •but solutions exist •we are here to put the pieces together
  32. 32. who are we
  33. 33. George Tziralis entrepreneur, open coffee, GR
  34. 34. George Kasselakis entrepreneur, open coffee, GR
  35. 35. Dimitris Athanasiadis entrepreneur, open coffee, GR
  36. 36. Spiros Xanthos entrepreneur, pattern insight, CA, US
  37. 37. Apostolos Apostolakis entrepreneur, e-shop, GR
  38. 38. Teresa Farmaki venture capitalist, piraeus bank, GR
  39. 39. Yannis Dosios VP marketing, smilebox, WA, US
  40. 40. who are we •7 executive members - bringing, knowledge, experience & passion to the table •49technology, management, - on advisors & counting sales, marketing, everything you need
  41. 41. goal •find the best and brightest teams •help them build globally aimed start-ups •make them succeed
  42. 42. looking for •stellar teams •globally innovative ideas, still at seed level •disruptive biz models •in and around software and the web
  43. 43. call for proposals •open to everyone (teams of 2-4) •online submission, •in person interview & •presentation day
  44. 44. “incubate” •pick up to 5 start-ups •extensively support in all things start-up •for a 4-month period •iterate
  45. 45. offer •hands-on mentoring, day-to-day, no interfering •networking, globally •20-30k€ for 20% of shares •smooth start & grow
  46. 46. all you need to •quit everything else •focus on your skills, team & idea •don’t waste time on unproductive activities •make it happen
  47. 47. commitment •by sharing the stakes •80%, entrepreneurs •12%, investors •8%, open fund
  48. 48. re-invent the wheel? •no, model tested before •YCombinator, Seedcamp, Techstars... •it works! •& it’s what’s missing here
  49. 49. schedule •call opens in late June •closes in Sep 30 •review & selection in mid Nov •incubation starts Dec 1
  50. 50. progress update •1st call closed in Sep 30 •57% applications from Greece •20 countries in total
  51. 51. progress update •full reviews returned •then biz plan & interviews required •launch day on Nov 21 •next call ends Feb 28!
  52. 52. who’s next?
  53. 53. www.theopenfund.com

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