1. Diogenes Business Incubator UCY
in the business of Start-up support
Stavriana A. Kofteros
CEO

2. Αποστολή Διογένη How to
 Business Management Advisory
 Business Planning
 Mentoring
 Marketing / Sales Support
 Networking
 Να ςποζηηπίξει ηη  Funding Access, Funds
Sourcing
δημιοςπγία καινοηόμυν
 Ad hoc Technical Support
νέυν εηαιπειών (startups)  Accommodation [Furnished
Office, lab leasing, access to
broadband
internet, telephone, office
equipment, meeting rooms
facilities…]
 Back Office Support [Secretarial
Bus. Inc.: ΢ςνδςαζμόρ Δπγαλείυν and Reception Services]
ςποζηήπιξηρ νέυν επισειπήζευν:
 Legal, Accounting / Taxation
ςπηπεζιών, δικηύυζηρ και ςποδομών expertise
 Project Management

3. Make your
Future!
Ο καλύηεπορ
ηπόπορ για να
πποβλέτειρ ηο
μέλλον είναι να
ηο δημιοςπγήζειρ

4. Η Ανεξαπηηζία ΢ος.
Cyprus Entrepreneurship Ecosystem. Welcome.

5. Realities
 «είζαι μικπόρ/η»
 «η Κύππορ είναι μικπή»
 «αςηά δε γίνονηαι ζηη Κύππο»
 «η ζίγοςπη δοςλειά ζηο Γημόζιο» σμμμ…
X
ΓΔΝ ΤΠΑΡΥΟΤΝ €€€€ FUNDS…
 The Chicken and the Egg Issue

6. Let’s talk money

7. Raising Funds
 Same everywhere!
 SV: Just because there are VC funds doesn’t mean
they will fund you!
 8:10 do not get funded – Silicon Valley update
 VCs don’t really jump to invest in early stage….
 Funder of Pandora.com got rejected by 300 investors…
 So?
 Tip: Face it. Deal with it. Get on with it. ACT on it.

8. CY: Οικοζύζηημα Δπισειπημαηικόηηηαρ
− Αποςζία Ππογπάμμαηορ + Δκκολαπηήπια Δπισειπήζευν
δημιοςπγίαρ νέυν εηαιπειών + Καινοηόμερ Δηαιπείερ
ηεσνολογίαρ + Δπεςνηηικά Κένηπα / Μονάδερ
− Αποςζία + Γπαθεία ΢ηήπιξηρ
Δπισειπημαηικόηηηαρ
Υπημαηοδοηήζευν ΢ποπάρ
+ Γιαγυνιζμόρ
− Αποςζία Δπενδύζευν Δπισειπημαηικόηηηαρ (Υπημαηικά
Ττηλού Ρίζκος (Venture Βπαβεία = Υπ. ΢ποπάρ)
Capital) ± Ππογπάμμαηα Νεανικήρ /
− Σπαγικά μειυμένοι Γςναικείαρ Δπισειπημαηικόηηηαρ
πποϋπολογιζμοί έπεςναρ ± Μικποσπημαηοδοηήζειρ 
Γάνεια (PROGRESS /
− Γημόζιο - Ππώηη Δπιλογή JEREMIE)
+ Νέο ΢σέδιο για ηην ενίζσςζη ηηρ Δπισειπημαηικήρ Καινοηομίαρ 09/07/2012

9. STEP 0
Team up.
Evangelize your idea.
Get co-founders.
Get a great Board
Get mentors and advisors.

10. Skin in the Game

11. Don’t fall in love
with the
technology.
Fall in love with the
Step 1-x customer.
TALK.TO.THE.CUSTOMER.
Write /Revise BP.
Do Not Self - Fulfill your prophecies.
Note: There is always competition.
Build the product fast.
Test it.
Fail Fast. Rebuild/Retest.
Get Traction.
Lean Startup Methodology

12. Critical Success Factor: Make.Meaning.
Ambitious Entrepreneurs ask: “What do we
really want to do?”
 a world class product whatever it is
 have fun doing it
 get involved in a business area or segment that
is at its “ground flour” and in its infancy
MIT, EDP

13. Be the aspirin for the customer’s headache
• Value proposition
• Pitch
• public speaking

14. Read
… http://steveblank.com/books-for-startups/

15. Back to the Money issue
 Plan to build your company without any outside investment
(Bootstrap). Then maybe you are ready to speak to potential
investors
 Passion of CEO is the single differentiator between doing ok
and doing well

16. Creative fundraising
1. Apply for Crowdfunding (kickstarter)
2. Get a Loan from FFFs
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/

19. Have a Start-up Summer 2012!
;-)
www.diogenes-incubator.com
http://www.facebook.com/DiogenesIncubatorUCY