Aristos Doxiadis has experience investing with Commercial Capital from 1995-1999 and with Notos Associates from 2000 to present. He has reviewed over 500 prospects but only invested in 15 companies, investing primarily in later stage companies rather than early stage startups. Greek venture capitalists are hesitant to invest in early stage Greek startups due to the small domestic market, limitations of founding teams, and difficulty exiting investments. Startups often fail due to lack of a great idea, brilliant founder, viable product, strong execution, or real users.

1. ARISTOS DOXIADIS - EXPERIENCE “ COMMERCIAL CAPITAL” 1995 – 99 NOTOS ASSOCIATES 2000 – TODAY REVIEWED >500 PROSPECTS INVESTED IN 15 ONLY ONE STARTUP, NOT HI-TECH STOPPED EARLY STAGE REVIEWS 2005 TECHNOLOGY and INNOVATIVE COMPANY BoDs

2. WHY GREEK VCs DON’T INVEST IN STARTUPS EARLY STAGE INVESTING IS A PORTFOLIO GAME GREEK PROJECTS HAVE LOW UPSIDE: SMALL DOMESTIC MARKET FOUNDING TEAMS HAVE LIMITATIONS EXIT IS DIFFICULT SO, THEY AIM FOR LOWER RISK BIGGER SIZE

3. NO GREAT IDEA BRILLIANT FOUNDER PRODUCT YES EXECUTION FULL TEAM USERS COMMON STARTUP MISTAKES

4. ARE YOU READY FOR FUNDING? Profits: 300 K for you or 10 Mil for the company? Have you got clients? 10^5 users or ONE KEY ACCOUNT Is there ONE key advantage? If not yet, bootstrap! See also TED.COM, talk by David Rose

5. FOLLOW UP Let’s start a workshop Aristos Doxiadis [email_address]