Career & Entrepreneurship 2014 @UCY Cyprus Startup Ecosystem Stavriana A. Kofteros
Startup Catalyst. Entrepreneurship Evangelist. Curator Cyprus Startup Digest Organizer Startup Live Cyprus Organizer Cyprus Startup Weekend F.M. Cypriot Enterprise Link Association Startup Cyprus Initiative Startup Mentor & Adviser Past Life: 12 years in Business Incubation; 6 as CEO of www.diogenes-incubator.com Day Job: Special Entrepreneurship & RDI Adviser @Democratic Rally Deputy Press Spokesperson @Democratic Rally www.about.me/stavriana
From EGOSYSTEM TO ECOSYSTEM
Overall Business Environment Funding Support Structures Team YOU
Business Environment In your market & in your country of op Market Gov Startup Strategy & Programs Sources of Funding Taxes Legislature Competition
Funding You CyBAN MECIT Entrepreneurial Innovation Program CyEC International Market = International Investors
Support Structures Diogenes Helix Ermis ChrysalisLeap Network to get to know them Incubators & Accelerators Mentors & Coaches CoWorking Spaces Startup Events Desk&Co Urban Hive Coworkspace Startup Live Startup Weekend Open Coffee HackCyprus SpacApps
Team Startup Community Co Founders Team Networking
YOU. potentially a startup entrepreneur in process Its up 2 U!
Cyprus Entrepreneurship Ecosystem + Innovative Startups Entrepreneurial Innovation Schemes Cyprus Entrepreneurship Competition Business Incubators Research Centers World class research results Youth & Women Entrepreneurship Schemes Micro-funding Schemes (loan ): JEREMIE, PROGRESS CyBAN Change of Culture Initiated Open Coffee Cyprus Cypriot Enterprise Link Hack Cyprus Startup Grind Cyprus Connect Outreach Cyprus Startup Digest Startup Live Cyprus Startup Weekend Cyprus
Cyprus Entrepreneurship Ecosystem - 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? Ή έλλειψη αυτοπεποίθησης για το καλύτερο αύριο?
Entrepreneurial World The Road of Success
Cyprus Dream. say what? Thank God.
Cyprus & Startups. Τραβάμε «ζόρι»?
R we Startup- Challenged?
ENTREPRENEURIAL MINDSET
LET S TALK STARTUP Passion of CEO is the single differentiator between doing ok and doing well
What a Startup is not! Startups Are Not Smaller Versions of Large Companies Large Companies Execute Known Business Models Startups Search for Unknown Business Models Steve Blank
What s a Startup A Temporary Organization Designed to SEARCH for REPEATABLE and SCALABLE BUSINESS MODEL Steve Blank
LEARN STARTUP
Rule 1 Be the aspirin.
Critical Success Factor: Make.Meaning. 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 your customer s headache MIT, EDP
Don t fall in love with the technology. Fall in love with the customer
Rule 2 Be a Pig.
What R U?
More Rules 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
TALK.TO.THE.CUSTOMER. Write /Revise BP. Do Not Self - Fulfill (your) prophecies. There is always competition. Build the product fast. MVP. Test it. Fail Fast. Re-build. Retest. Get Traction. Lean Startup Methodology
R u scared? Good.
Let s talk money
Raising Funds 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
Creative fundraising 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/
Why Startups Fail? Most startups fail from lack of customers not from failure of product development Steve Blank
Keep learning http://steveblank.com/books-for-startups/
Get involved. Get Connected http://startupdigest.com/cyprus
BE THE CHANGE. BE CRAZY.
Thank you @Stavriana_k skofteros@disy.org.cy