1.
Tuesday, March 18th 2014
Applying Successful International Methods to assist
New Entrepreneurs build a start-up

2.
Building a company is a long journey…
Start-up financing lifecycle
Idea Seed / Angel
Financing
Exit
(IPO, trade sale,
merger, etc)
Mature
Company
VC Financing
(Typically multiple
rounds)
1

3.
Learn from successful international approaches
The US and Israeli models for angel/seed funding and beyond
Development of new
technologies
Successful
Incubation/spin off
Process
Partner Mentoring
Programs
Strategic Investor
Approach
• Cooperation with technology Institutes
• Business oriented academics with foresight
• IP protection
• Successful chemistry between Investor and Investee
• Important to identify early the strengths and weaknesses of each business model
and rectify, as needed
• Work with experienced investment/incubation teams to ensure smooth process
• Partnerships with subject-matter experts in the role of mentors for the young/new
entrepreneurs
• Successful mix of Advisors to bring the right results is paramount
• Extremely important for the success of a business model is to give the appropriate
time to fully develop
• Strong networks with likely-minded investors for follow-on rounds
Learn from successful international approaches
2

4.
Adjust to Greek Environment for a successful outcome
What is needed in Greece to help the creation of the Innovation Ecosystem of Tomorrow
International sector
expertise with local
touch
Execution ability with
the right Partners
Deep Regional
Knowledge and
Understanding
Rigorous investment
and risk mgmt
processes
• Need to combine investment expertise with the right mix of professionals
• Important to combine the right resources, both international and local, to achieve
appropriate execution and IP protection
• Ability to navigate complex regulatory and bureaucratic environments in the local
market to efficiently structure deals and minimize risks
• Advisors/Partners appropriate mix to provide both international subject-matter
expertise and understanding of Greek culture / approach to startups
• Paramount to understand both the Greek financial and business market intricate
systems to achieve successful execution
• International standard investment and risk management processes
• Adhering to best practices
Adjust to Greek environment for a successful outcome
3

5.
What is needed from the entrepreneur?
• Innovative idea and competitive advantage
• Understanding the market and competition
• Commitment (lifetime vs lifestyle)
• Chemistry between the team members
• Patience and perseverance / long term strategy
• Good execution
• No fear for failure!
4

6.
What is needed from the investor? More than Money
• Clear chemistry between the investor and entrepreneur
• Sector knowledge expertise and operational experience for proper advice/mentoring
• Contacts and network to pursue commercial and further funding opportunities
• Experience in investing/structuring deals and negotiating
5

7.
Business strategy is Important
Business Plans should typically cover:
• Description of the idea / product / service
• Market (size, growth, competition)
• Competitive Advantage / business model
• Team (related bios)
• Implementation plan / marketing plan
• Financials (min 3 years forecast)
6

8.
A Few Tips
• Focus on clearly communicating
your ideas
• Be consistent (style, numbers, key
points)
• Be fixed to a specific format
Do’s Dont’s
7

9.
Active from angel investing to late-stage private equity:
Piraeus Venture Capital & Private Equity Group Vision
Be the local know-how partner for international
institutions and investors in Greece and the
broader SE European / Emerging
Mediterranean region
Who we are – Piraeus VC-PE Group
Angel
Investments
Open Fund
8 investments
1 divestment
Seed
Investments
PJ Tech Catalyst
7 investments
4 under execution
VC Investments
Piraeus Taneo
Capital Fund
7 investments
3 follow-on investments
Private Equity
Piraeus Clean
Energy LP
2 investments
1 under execution
30+ investments in 4 years
8

10.
Support and help shape a dynamic and
successful start-up scene in Greece
Invest in and help grow a group of promising
ICT start-ups into world class companies
Work with other market participants to develop
local talent and attract investment into Greece
The PJ Tech Catalyst team has the vision to:
PJ Tech Catalyst Vision
9

11.
PJ Tech Catalyst Fund team
Loukas
Pilitsis
fund
manager
• Experienced international fund management team
• Deep technology and start-up experience
• Strong investment sector background
Chris
Tsangos
Vasilis
Theoharakis
Kostas
Mallios
Nikos
Antoniou
investment
manager
Michael
Dimitropoulos
investment
manager
Management Team
10

12.
Investment Strategy and Focus
• Seed stage investment -
• Pre-revenue
• Core team assembled
• Typically 6 – 18 month old
company
• Select idea stage teams
• Technology companies (ICT Sector)
• Main operations in Greece
• Strong and committed team
A great business idea with clear
competitive advantage
• Strong international growth potential
Fund Strategy and Requirements What we look for
11

13.
12
Partnerships
.....
IQbility
Incubator
Strategic Partnership between PJ Tech
Catalyst Fund and Quest Group of companies
.....Found.ation A top co-working space in Athens
.....
Innovation
Farm
Accelerator focused on the startup scene of
Thessaloniki and rest of Northern Greece
.....
Dutch
Expansion
Capital
VC firm headquartered in Eindhoven (the
Netherlands)

14.
Incubator
iqbility is a Quest Group of companies initiative in partnership with the PJ Tech
Catalyst Fund aiming to bridge local entrepreneurial talent with established corporate
and subject-matter expert resources, to achieve amazing business results.
iqbility offers valuable means to propel a startup forward since the very early stage
such as:
 Pre-seed Funding
 Office Space and Infrastructure
 Business Support Services (accounting, legal, administrative, IT)
 Expert mentoring and strategic advice to provide real business synergies plus
access to seed funding for your next steps,
The aggregate value of cash and services is indicatively up to 60K euros and is
invested in a startup against a minimum equity stake
iqbility will assist in the realization of our partner
startups great growth potential!
13

15.
14

16.
FOUND.ATION
15

17.
16
Positioning
The HighTechXL|Fund is positioned next to the
HighTechXL|Accelerator, both managed by DEC, in
order to provide capital for the acceleration of
companies.
HighTechXL|Fund specifications
 Round A and Round B stage fund, with expansion
capital and an intended size of €100 million.
 Target group: innovative, distinctive ‘life changing’
companies with sustainable growth potential.
Primarily based in The Netherlands, with an
international growth perspective.
 Sectors: Internet of things, Advanced materials,
advanced robotics, autonomous and near
autonomous vehicles, energy storage, 3D printing,
renewable energy, lifetech/medtech.
 Risk profile: minimal consumer supplier density.
Minimal technological, fashion or regulatory risks.
 Equity investments between €0.5 and €2.5 million
for round A and €2.5 million up to €7.5 million for
round B.
 Companies with a value between €2.5 and €25
million.
 Investment period of 3 years from initial closing with
a maximum extension of 1 year. The term of the
Fund is 8 years after first closing with a maximum
extension of 2 years.
 15 to 20 participations.
The finance of Round A is based on the rigorous due
diligence and supportive networks of
HighTechXL|Accelerator. We support the most
promising companies out of the
HighTechXL|Accelerator as well as other selected
companies.
Bioscience Technology
Renewable energy
Water and waste
Semiconductor Technology
Internet of Things
Health Care
With Round B we provide financing to further help the
expansion of companies. We strive to have the companies
substantially cash flow positive at exit, achieving increased
exit valuations.
Team
DEC is founded by Eric van den Eijnden and Guus Frericks.
The complementarity of backgrounds of Mr. van den Eijnden
(investment experience) and Mr. Frericks (operational
experience), together with a highly experienced team has
created an investment company that believes it can offer
excellent investment opportunities in innovative life
changing companies in the Netherlands.
Current portfolio is including various companies, either via
direct participation of Dutch Expansion Capital, or via the
participation of Startupbootcamp HighTechXL. The team is
advised by EY.
Introduction
Dutch Expansion Capital (DEC), is a Dutch investment
company that has created the Startupbootcamp
HighTechXL|Accelerator and the HighTechXL|Fund,
both located in the High Tech Campus Eindhoven.
The Startupbootcamp HighTechXL|Accelerator is the
first hardware High Tech accelerator in Europe and was
created together with partners like EY, Philips, NXP,
ABN AMRO, BOM and the High Tech Campus. It invests
in 10 companies in every program it runs, and
surrounds them with 150 highly experienced mentors.
The HighTechXL|Fund, with a target size of €100 million
provides expansion capital and operational support to
gems with sustainable innovations, which can be game
changing, operating in growing end markets, making
impact on grand challenges and having the potential to
become life changing companies.
ACCELERATE LIFE-CHANGING
HIGH TECH COMPANIES

18.
Contact Us
Contact Details
Loukas Pilitsis
e – lpilitsis@pequityadvisors.com
e - l.pilitsis@pjtechcatalyst.com
m - (+30) 6958.47.27.64
17