Openfund - How to Apply
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WYS vs WYG, or What entrepreneurs believe and write versus what investors read and understand when reading applications in structures like the Openfund. A guide to read before you apply.
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Openfund - How to Apply
- 1. WYS vs WYG how to apply to the Openfund* or other relevant structures Tue Feb 23 2010, Open Coffee Athens XXX
- 2. WYS vs WYG •WYS (What You See): What entrepreneurs write •WYG (What You Get): What investors read
- 3. how to apply, let’s •share some insights •break some myths •provide some advice *some: subjective views & limited experience
- 4. application structure •description •competition •team •funding •product •goals
- 5. WYS - description •complex is good • . .
- 6. WYG - description •complex is good •complex is not easily sellable •neither to investors nor clients
- 7. WYS - description •fantastic idea! (even if it’s irrelevant) •......... .......
- 8. WYG - description •fantastic idea! (no matter it’s irrelevant) •only software/web/ mobile ideas accepted •do your homework first
- 9. description •simple & concise (demo/ video are cool) •to the extent you get clear •also provide a one- sentence pitch
- 10. WYS - team •we’ve so far excessive experience & success! • . .
- 11. WYG - team •we’ve so far excessive experience & success! •then, why bother? •are you committed?
- 12. WYS - team •strong technical background (but let’s skip the details) • .
- 13. WYG - team •strong technical background (but let’s skip the details) •share your past work •what about business?
- 14. team •introduce yourselves, tell us more about you •how members bond & complement each other •trade-off between skills & commitment, pick wisely
- 15. WYS - product •we’ll build the next Google (or equivalently huge project) • •. .
- 16. WYG - product •we’ll build the next Google (or equivalently huge project) •mission impossible, or •you have no idea
- 17. WYS - product •we’ll build the local X • • •. .
- 18. WYG - product •we’ll build the local X •shallow market, no opportunity •hard to beat a well- positioned product
- 19. product •be reasonable, beyond sharing your excitement •showcase that you know what you are up to •also that you have a plan & focus on a specific idea
- 20. WYS - competition •we are one of a kind • • •. .
- 21. WYG - competition •we are one of a kind •no market research performed, or •a questionable need
- 22. WYS - competition •are there competitors? yes/no (one word) • •. .
- 23. WYG - competition •are there competitors? yes/no (one word) •care to share? •is it reasonable to build a new product & compete?
- 24. competition •provide a list & more of your closest competitors •showcase that you differ •educate your reader, pitch your expertise
- 25. WYS - funding •we’re superb! thus, we ask for more money • •. .
- 26. WYG - funding •we’re superb! thus, we ask for more money •you haven’t done your homework, study what is offered
- 27. WYS - funding •we’re modest, we ask for less money • . .
- 28. WYG - funding •we’re modest, we ask for less money •the targets are set low, or •you’re not serious about
- 29. funding •make a request within the range offered •provide a rough cost breakdown •next to a product, set up a scalable business
- 30. WYS - goals •we’ll have millions of users, within 4 months • . .
- 31. WYG - goals •we’ll have millions of users, within 4 months •unrealistic targets, or •very inexperienced team
- 32. WYS - goals •we’ll be ready to start building a product • . .
- 33. WYG - goals •we’ll be ready to start building a product •you are very slow, or •the product does not fit
- 34. goals •pave the way to a working product, quantify •bringing you close to a next round of funding, or • organic sustainability/
- 35. in general •researchers: try to satisfy the reviewer •freelancers: try to satisfy the customer •now you’re looking for a partner, build trust!
- 36. Solve a real problem, have a strong team, demonstrate a prototype. Alexey Orap, YouScan
- 37. Be as extensive as possible, this shows that you are serious. Alexis Ballas, Fashinating
- 38. Make sure you stop, think about your customer's problem, brainstorm within team and propose to solve Miro Solanka, Sportmeets
- 39. Tell your story, who you are and why you feel passionate about your idea. Passion and enthusiasm are infectious. Alex Schleifer, Listiki
- 40. WYS vs WYG •WYS: This will take a lot of work •WYG: Extensive support for an exciting journey, plus we are in this together
- 41. apply till Feb 28 http://theopenfund.com | info@theopenfund.com
Editor's Notes
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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,