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Slovak Startup Ecosystem Matej Ftacnik, co-founder The Spot Booster @ftacnik European Entrepreneurship & Innovation @ Stanford Engineering 23rd Feb 2015
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Heart of Europe Member of EU since 2004
- 5.5M Citizens - SK GDP - $94B (2012) - IBM rev. – $99B (2013) Largest car producers per capita
Bratislava 500k popula8on
The Spot – Booster
NGO Education
Networking Mentorship
Incubator/Accelerator EIR’s / Mentors
Funding Corp. partnerships
Jumpstar8ng innova8on in Slovakia
2012 2014
Value Proposition
World-class 450 mentors and initial seed financing of up to 30K with follow-up funding of 30-250K.
Focus
Data, cloud services, analytics, transactional technologies, fintech and e-commerce, B2B technologies, location-based services, and security software
Financing Backed by private investors and the European Commission
Estonia Czech Republic Slovakia Hungary Lithuania
Life at The Spot Workshops, events, mentorship
From Engineering to Bizdev A short bio
Companies Awards / Community NGO
Startup ingredients Solving the missing pieces to make the ecosystem excel
Business Talent Lack of international
experience / schooling
Rare ingredients Abundant ingredients
Venture Capital Availability of capital to
large numbers of startups
Government Support Signs of commitment to support
the startup ecosystem
Top Engineers Low volumes but high-quality talent coming out of schools
Serial Entrepreneurs Small number of exits forces
entrepreneurs to stay with one company
Test Market National market too small
to be final market
Slovak success stories Who already made it or is on it’s way there
Cyber Security 100M+ Customers
Mobile Navigation 80M Users
Game Developers 25M+ Gamers
Mobile Web Creator Exit to godaddy.com
Aeromobil.com A flying car
Aeromobil.com A flying car
Booster - after first 6 months Early success signals from porHolio companies
500 000 EUR Raised seed funding
FIT
500 000 EUR Raised seed funding
Asseco CE
March 2014 batch:
Invento SIGNEE
Slovak startup ecosystem A brief overview Slovak President @ Stanford Governments commitment to support startups
John L. Hennessy Stanford President
Andrej Kiska Slovak President
Slovak startup ecosystem A brief overview
Venture Capital Community University Government
Slovak startup ecosystem A brief overview
Corporate Associations Inc. / Acc. Mature Startups
Bridging into the Valley Connec8ng the two ecosystems
Mentors, experts, US entrepreneurs Getting people from Silicon Valley excited to come to Slovakia and broaden the knowledge pool of local startups.
Market access/discovery Allowing more Slovak startups to experience Silicon Valley. Establishing a “Slovak house” that fosters relationships and acts as a bridge.
Access to later stage capital Making it easier for high-potential Slovak startups to be considered for Series A or later stage funding from SV investors.
Scouting innovation Enabling CEE corporates to scout and partner with SV startups making them more innovative. Opening a new market for those startups.
