hsa 5th meeting - eric parks
DESCRIPTION
Eric Parks describes the journey of Gipht.me at the Hellenic Startup Association's 5th meetingTRANSCRIPT
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The gipht.me startup story
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Space: The Final Frontier
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1. Learning to Fly
Back home in Greece
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Learning to fly
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The 6 of us –complementing skills
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Day Job- The trouble with tribbles
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Not working- Snowed Under
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The situation in Greece with Money
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Money was doing 3 things
• 1. Leaving the Country
• 2. Investing in Real Estate
• 3. Buying out dead or duying competitors
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We needed unusual money for a seed round. $700K
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Roulette Advice
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So, Go West Young man, go West!
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2. Making Rockets
Getting ready to boldly go…
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Making rockets
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The Business Plan
Yes, we know it’s all in your head and your product is perfect.
Yes, it’s obvious that it will make loads of money
You Really, Really, Really
REALLYNeed to write the Business Plan.
If you can’t explain your business to yourself then how do you expect others to give you money?
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The Presentation
Make it beautiful
Really beautiful.
Polish and then polish some more.
Most startups Don’t do this
So this is immediately your difference.
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Make a prototype
Functional is better
Test market validation is even better
But if all else fails, have something to show.
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3. Sending Laika into space
George goes barking into the wild unknown. Sort of.
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13/2/2011 George goes to the Valley
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Staying with Gurbrit
-Random Sikh Guy
George went to the Valley, rented a house staying with Gurbrit.
Went to tons of Valley meetings.
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Rented an office at Plug n’ Play
Started seeing people and going at events.
Our presentation helped us
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The Ukrainian Connection
Once you’re there. Opportunities start coming.
Even odd ones.
The strangest email Eric ever had to write.
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Trajectories
Normally, Off the Boat your first goal is to see the Angel community especially for seed area funding- Up to $250K
However, we were in an unusual position.
Se we got to see VC’s from the outset.
Easter 2011, Eric joins George in the Valley
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4. The Splatter Story
Be afraid, be very afraid
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First meeting we meet this guy
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Blood was over the room
• Interrupted the presentation early
• “How did you get this meeting. Some sort of Greek Mafia connection?”
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Unprofessional
BUT,
He did have some points.
So take any feedback you can.
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5. Satellites
Moving around in amazing orbit
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Getting to see the big boys
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The smaller the boardroom
The Bigger the Firm.
Simple as that.
Also,
They Know their stuff
You are WHO?
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9 months before
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One big issue
Be in the USA.
It really helps
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6. The International Space Station
Sorry to wake you up. Miscalculated the time zone.
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i-Free
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Cherubic
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And someone else
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Smart Money
• All money is not created equal
• Your partners should bring more than money to the table.
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7. Launching
10. 9. 8.7.6.5.4.3.2.1.
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Launching in a few days
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But it’s just another step on a long journey
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Wish us luck.
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In conclusion
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Really boils down to this
• Get friends to complement you skills
• Try and devote yourself to the project
• Make the Business Plan, the presentation, the prototype.
• Get out there and show it
• Believe it when things are down.
And remember…
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Live long and prosper
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Thank You!