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Putting the pieces together
2 years ago
40 events,
in 6 cities
130 speeches,
100s of participants




                  4
we came a long way
                    y-w ise
                unit
           c omm
still,
the ecosystem is broken
how can we
get there?
to start-up, you need

•brainpower
•community
•funding
•advisory
brainpower
•1.7% of greeks holding
 MSc or PhD
•#1 in EU regarding
 people studying abroad
•top in availability of
 scientists and engineers
to start-up, you need

•brainpower
•community
•funding
•advisory
to start-up, you need

✓ brainpower
•community
•funding
•advisory
to start-up, you need

✓ brainpower
•community
•funding
•advisory
start-ups @ OC

•they exist
•able to succeed
•interest is huge
•potential is even bigger
to start-up, you need

✓ brainpower
•community
•funding
•advisory
to start-up, you need

✓ brainpower
✓ community
•funding
•advisory
to start-up, you need

✓ brainpower
✓ community
•funding
•advisory
venture capital
•lots of traction lately
•a number of new funds
•significant capital
 available
•yet, no liquidity. why?
funding, worldwide
availability




               seed   VC rounds   public
funding, in greece
availability




               seed   VC rounds   public
0
  high-tech, early stage
investments in GR, 2007
      (in €, EVCA)
venture capital
•no angel / early stage
•risk averse
•lack of knowledge in the
 tech field
•no relevant network
to start-up, you need

✓ brainpower
✓ community
•funding
•advisory
to start-up, you need

✓ brainpower
✓ community
- funding
•advisory
to start-up, you need

✓ brainpower
✓ community
- funding
•advisory
advisory

•more vital than money
•providing expertise,
 directions & contacts
•you need the best, with
 a network of global reach
advisory
•harder to find than VCs
•locals, not well
 connected
•intnls, not approachable
•you are left in the dark
to start-up, you need

✓ brainpower
✓ community
- funding
•advisory
to start-up, you need

✓ brainpower
✓ community
-   funding
-   advisory
so?

•the system is broken,
 start-ups are few
•but solutions exist
•we are here to put the
 pieces together
who are we
George Tziralis
entrepreneur,
open coffee, GR
George Kasselakis
entrepreneur,
open coffee, GR
Dimitris
Athanasiadis
entrepreneur,
open coffee, GR
Spiros Xanthos
entrepreneur, pattern
insight, CA, US
Apostolos Apostolakis
entrepreneur, e-shop, GR
Teresa Farmaki
venture capitalist,
piraeus bank, GR
Yannis
Dosios
VP marketing,
smilebox,
WA, US
advisors

•an extensive list
•on technology,
 management, sales,
 marketing, plus more
• exceptional people from
 around the world
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
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
some of the advisors

•Ioannis Methodios
- x-CEO, Accenture, Greece
•GeorgeManager, Google,
- Country
           Saliaris-Fasseas
   Greece

•Christos Tsangos
- CEO, Microsoft, Greece
what we do
goal

•find the best and
 brightest teams
•help them build globally
 aimed start-ups
•make them succeed
looking for
•stellar teams
•globally innovative
 ideas, still at seed level
•disruptive biz models
•in and around software
 and the web
call for proposals
•open to everyone
 (teams of 2-4)
•online submission,
•in person interview &
•presentation day
“incubate”
•pick up to 5 start-ups
•extensively support in
 all things start-up
•for a 4-month period
•iterate
offer
•hands-on mentoring,
 day-to-day, no interfering
•networking, globally
•20-30k€ for 20% of
 shares
•smooth start & grow
all you need to
•quit everything else
•focus on your skills,
 team & idea
•don’t waste time on
 unproductive activities
•make it happen
commitment

•by sharing the stakes
•80%, entrepreneurs
•12%, investors
•8%, open fund
call for investors
•open for everyone
 interested
•minimum investment
 30k€, “hassle-free”
•providing equal shares
 to all start-ups of a round
re-invent the wheel?
•no, model tested before
•YCombinator,
 Seedcamp, Techstars...
•it works!
•& it’s what’s missing
 here
schedule

•call opens in late June
•closes in Sep 30
•review & selection in
 mid Nov
•incubation starts Dec 1
www.theopenfund.com

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Entrepreneurs

Editor's Notes

  1. Hello all, my name is George Tziralis and I'm here to give you another perspective -actually a bottom-up view- on greek entrepreneurship. Our humble story starts almost two years ago,
  2. About 20-25 people appeared. And, believe me, just getting to know the existence of one another, people starting or have already started up, was kind of an (exciting) discovery. We could share our problems, experiences and knowledge; collaborations and opportunity were lying ahead. We liked it pretty much, and decided to repeat it. Next time, in middle July, the number of people was doubled. Also, a blog occurred opencoffee.gr
  3. after all, we do believe that we started out of nothing and came up a long way -community-wise at least-
  4. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  5. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  6. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  7. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  8. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  9. we think that, by now, we all agree that "things have changed" and greek web start-ups do exist, are absolutely able to succeed, the interest on entrepreneurship is next to huge, and the latent potential is even bigger.
  10. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  11. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  12. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  13. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  14. This is what a typical distribution of funding availability looks like,
  15. and this is the case in Greece. You’re right, there’s absolutely *no* seed capital. Actually, a greek VC told me the other day that the term “greek angel investor” is more of an oxymoron, it simply does not exist. And, guess what, seed capital and proper advise by experts *on the field* is what you need most to start-up, especially a web business.
  16. I also need to mention that, the whole endeavor is an (almost) zero budget one. We are not in the event business or care to be so, we are just a bunch of people passionate about technology start-ups and love to connect with people of similar interests.
  17. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  18. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  19. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  20. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  21. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  22. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  23. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  24. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  25. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  26. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  27. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  28. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  29. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  30. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  31. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  32. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  33. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  34. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  35. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  36. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  37. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  38. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  39. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  40. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  41. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  42. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  43. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  44. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  45. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  46. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  47. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  48. to create a web start-up, essentially you need enough brainpower, a strong community and ecosystem to take advantage of, enough and proper funding and proper advisory to guide you through the whole process.
  49. Hello all, my name is George Tziralis and I'm here to give you another perspective -actually a bottom-up view- on greek entrepreneurship. Our humble story starts almost two years ago,