Tuesday, March 18th 2014

Applying Successful International Methods to assist New Entrepreneurs build a start-up

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)

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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

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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

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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!

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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

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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)

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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

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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

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

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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

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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

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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)

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!

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FOUND.ATION

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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

Contact Us

Contact Details

Loukas Pilitsis e – lpilitsis@pequityadvisors.com e - l.pilitsis@pjtechcatalyst.com m - (+30) 6958.47.27.64

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