Entrepreneurship in Action

IEEE GOLD CY - LEARN STARTUP26/11/2012Stavriana A. KofterosCEO

DIOGENES Strategic Services Mentoring Coaching Back Office Networking Funding Access, Funds Sourcing

Facilitate the creation of innovative startups

Profile

Business Incubators, Entrepreneurship Support Offices, Accelerators

Innovative Start-ups, Entrepreneurial Innovation Programs , CyEC

Research Centers, Research Universities, world-class results

Young / Women Entrepreneurship Support Programs

Micro-funding (LOANS!): JEREMIE, PROGRESS

Lack of Capital (Seed, Venture Capital)Lack of start-up / spin-off creation programs

Low Academic EntrepreneurshipLack of patenting/spinoff procedures and funding

Extremely low research / innovation funds (0.45% )Extremely low research / innovation funds (0.45% )

CHECKLIST

Changing Culture to Start-up Cyprus Open Coffee Cyprus, Cypriot Enterprise Link, Hack Cyprus, …etc

Public – first ChoicePublic – first Choice

CY (Fragmented) Entrepreneurship Ecosystem

Public Sector

Employment?

“Life is to short to work at a boring company”

Make Your Future

Serious Fun. Seriously!

Do you speak Startup?

Ingredients

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 yetSteve Jobs

Chairman, Apple

Let’s Talk Startup

Passion of CEO is the single differentiator between doing ok and

doing well

Critical Success Factor: MAKE.MEANING.

What R U?

STEP 0Team up. Get co-founders.Evangelize idea.Get a great BoA, Mentors.Public speaking training.Pitch. Pitch. Pitch.Network. Network. Network .

Steps 1-x

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

Why Startups Fail?

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

Most startups fail from lack of customers

not from failure of product development Steve Blank

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

Keep Learning

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

http://www.cycrete-mentor.eu/lms/

Get in the Loop

www.opencoffeecyprus.orghttp://www.cycrete-mentor.eu

www.diogenes-incubator.com

http://startupdigest.com/cyprus

BE THE CHANGE.BE CRAZY.

Thank you

skofteros@diogenes.com.cy