Startups, entrepreneurship

1. UCY M.Sc. Computers Class Presentation
02/04/2013
Stavriana A. Kofteros
CEO

2. Diogenes Mission ‐ Services
Strategic Business Management
Facilitate the 
 Business Planning
creation of  Mentoring
 Coaching
innovative  Marketing / Sales
startups  Networking
 Funding Access, Funds Sourcing
 Ad hoc Technical Support
 Accommodation [Furnished Office, lab leasing,
access to broadband internet, telephone, office
equipment, meeting rooms facilities…]
 Back Office Support [Secretarial and Reception
Services]
 Legal, Accounting / Taxation expertise
 Project, Contract, Financial Management

3. SAFE. www.bio‐merge.com
www.armes‐tech.com
www.viscientific.com
www.diogenes‐incubator.com

4.  Highly innovative startups on a global scale
 International sales
 International patents
 54+ products in international markets
27 patents (international)

5. • Καινοτόμες Start‐ups • Προγράμματα Νεανικής κ
• Προγράμματα Γυναικείας
Επιχειρηματικής Καινοτομίας Επιχειρηματικότητας
• Διαγωνισμός • Προγράμματα Micro‐funding
Επιχειρηματικότητας (δάνειο): JEREMIE, PROGRESS
Κύπρου
• Εκκολαπτήρια • Ξεκίνησε η Αλλαγή
Επιχειρήσεων Κουλτούρας
• Γραφεία Στήριξης • Open Coffee Cyprus
Επιχειρηματικότητας • Cypriot Enterprise Link
• Ερευνητικά Κέντρα • Hack Cyprus
• Ερευνητικά Πανεπιστήμια • Startup Grind Cyprus
• Παγκόσμιας κλάσης • Cyprus Startup Digest
αποτελέσματα έρευνας • Startup Cyprus Initiative

6. • Έλλειψη Επενδυτικών Κεφαλαίων Υψηλού Ρίσκου
• Έλλειψη προγραμμάτων δημιουργίας καινοτόμων
νεοφυών εταιρειών
• Χαμηλή Ακαδημαϊκή Επιχειρηματικότητα
• Έλλειψη διαδικασιών δημιουργίας spinoff
• Έλλειψη χρηματοδότησης
• Πολύ χαμηλή επένδυση στην Έρευνα (0.45% )
• Κυπριακό Όνειρο: Δημόσιο – επιλογή καριέρας….
• Έλλειψη οράματος? ‘η έλλειψη αυτοπεποίθησης για
το καλύτερο αύριο?

7. ΕΥΤΥΧΩΣ.

11.  Παίρνω πρωτοβουλία?
 Είμαι ηγέτης?
 Αναλαμβάνω τις ευθύνες των πράξεων
μου?
 Είμαι οργανωμένος?
 Λαμβάνω αποφάσεις?
 Είμαι αποφασιστικός?
 Είμαι οικονομικά υπεύθυνος?
 Έχω ικανότητες διοίκησης?
 Οι οικογένεια μου στηρίζει τις
αποφάσεις μου?
 Είμαι έμπιστος?
 Είμαι ανοικτός στις ευκαιρίες?
 Είμαι διευθετημένος να μάθω?
 Μπορώ να κινηθώ εκτός πλαισίου
άνεσης μου? (comfort zone)
 Συνεργάζομαι καλά με άλλους?

12. Make Your Future

13. Do you speak Startup?
Serious Fun. Seriously.

14.  Innovation Planet
 We made the buttons on the screen look so good you’ll
want to lick them
 Innovation distinguishes between a leader and a
follower
 Talent in Team
 They have to be really smart. But the real issue for me
is, Are they going to fall in love with Apple?
 Perseverance
 We went to Hewlett‐Packard, and they said, ‘Hey, we
don’t need you. You haven’t got through college yet
Steve Jobs
Chairman, Apple

15. http://www.youtube.com/watch?v=4oAB83Z1ydE

16. Passion of CEO is the single differentiator
between doing ok and doing well

17. Be the aspirin.

18.  world class product (whatever it is)
 have fun doing it
 in a business area or segment that is at
its “ground floor” and in its infancy
 Value proposition
Be the aspirin for the
customer’s headache
MIT, EDP

19. Don’t fall in love with the technology.
Fall in love with the customer

20. Be a Pig.

22. 3. Team up. Get co‐founders.
4. Evangelize idea.
5. Get great Mentors.
6. Public speaking training.
7. Pitch. Pitch. Pitch.
8. Network. Network. Network

23.  TALK.TO.THE.CUSTOMER.
 Write /Revise BP.
 Do Not Self ‐ Fulfill (your) prophecies.
 There is always competition.
 Build the product fast.
 Test it.
 Fail Fast. Re‐build. Retest.
 Get Traction.
Lean Startup Methodology

28.  Same everywhere
 SV: Just because there are VC funds doesn’t mean
they will fund your start‐up
 Silicon Valley update ‐ 8:10 do not get funded
 VCs don’t really jump to invest in early stage….
 Funder of Pandora.com got rejected by 300 investors…
 Plan to build your company without any outside
investment Bootstrap
 Then maybe you are ready to speak to potential
investors

29. 1. Apply for Crowd‐funding (e.g. kickstarter)
2. Get a Loan from 3Fs
3. Apply to Startup Chile…!
4. Use your Credit Cards 
5. Start Side Projects
Money shouldn’t be an objection when you’re starting a company. Be creative.
Carlos Solorio, Founder of Arden Reed, a custom menswear company.
http://under30ceo.com/5‐creative‐ways‐raise‐money‐without‐giving‐equity/

31.  Co founders fight
 They cant build their initial spec
 No one will fund their idea
 Too few people buy/use the product
Steve Blank

32. Most startups fail
from lack of customers
not from failure of product development
Steve Blank

33. http://www.cycrete‐mentor.eu/lms/
… http://steveblank.com/books‐for‐startups/

34. http://www.cycrete‐mentor.eu www.opencoffeecyprus.org
www.diogenes‐incubator.com
http://startupdigest.com/cyprus

36. BE
THE
CHANGE.
BE
CRAZY.

37. Thank you 
skofteros@diogenes.com.cy