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• ???S???????? ????????? ??? G??F???? ???S????S?S
  ??? ?.?.? ?T???S
• ????????S? ??? ??????????????????
• (4th April 2008)
• ?f??? ap? t?? a??pt??? eta????? µ?s?
  Te?µ????t?d?? ? eµpe???a t?? VCI
• George Karantonis, Chief Executive Officer, VCI
  S.A.

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Definition

• A place where newly created firms are
  concentrated in a limited space. Its aim is to
  improve the chance of growth and rate of survival
  of these firms by providing them with a modular
  building with common facilities as well as with
  managerial support and back-up services. The main
  emphasis is on local development and job
  creation 1
• An organization that accelerates and
  systematizes the process of creating successful
  enterprises by providing them a comprehensive and
  integrated range of support, including Incubator
  space, business support and networking
  opportunities. 2
• 1European commission OJ C186-51/52dd. 27, July
  1990
• 2Centre for Strategy Evaluation Incubator
  Activities, Benchmarking of Business Incubators

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Business incubator Model

• Incubators operation can be illustrated in
  terms of a simple input-output model
• Inputs - consist of the inputs made by
  stakeholders (e.g. providing finance), management
  resources, and projects put forward by
  entrepreneurs.
• Processes the various inputs are brought
  together in the business incubation process
  through the provision of incubator space and
  other services to companies.
• Outputs successful companies graduate with
  positive job and wealth creation impacts on local
  economics.

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Incubator Model
2Centre for Strategy Evaluation Incubator
Activities, Benchmarking of Business Incubators
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Typology of Incubators

• Business and Innovation Center
• Science/Technology Park Incubator
• Specialized Incubator (e.g. rural etc)
• Other Type

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From 1980 we can distinguish 3 generations of
Incubators
3rd Generation Access to venture
finance Co-venturing
2nd Generation Advisory services,
coaching Proactive support
1st Generation Real estate, shared facilities
Reactive support
1980s
1990s
2000s
Lalkaka D., Current Trends in Business
Incubation, Africa Regional Conference in
Business Incubation, 2003, Slide8
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• BENEFITS OF THE INCUBATED COMPANIES

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ACCESS TO CAPITAL AVOID BUREAUCRACY

• Many business incubators can provide
  entrepreneurs with
• access to the kind of early-stage capital that
  emerging companies desperately need.
• Avoid bureaucracy which is prerequisite for the
  establishment of the company.

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Benefit from established network

• The incubated companies have access to an
  experienced network of investors, advisors
  management staff which is a very important factor
  that determines the future of the company.
  Therefore they can focus on the development of
  the company.

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Consulting and Administrative assistance

• Incubator managers and staff members can provide
  insightful advice and/or information on a broad
  spectrum of business issues, from marketing to
  business expansion financing. Small business
  owners should remember that the people that are
  responsible for overseeing the incubator program
  are usually quite knowledgeable about various
  aspects of the business world. They are a
  resource that should be fully utilized.

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Legitimacy in the community

• Many entrepreneurs have stated that when their
  start-up businesses are accepted into business
  incubator programs, the rewards include an aura
  of legitimacy and credibility among both vendors
  and customers. The fact that a business has
  been accepted into an incubator offers value to
  potential investors, they have already passed an
  important litmus test by simply being there.

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Psychological support to fellow entrepreneurs

• Many small business owners that have launched
  successful ventures from incubators cite the
  presence of fellow entrepreneurs as a key element
  in their success. They note that by gathering
  entrepreneurs together under one roof, incubators
  create a dynamic wherein business owners can
• provide encouragement to one another in their
  endeavors
• share information on business-related subjects
  and
• establish networks of communication that can
  serve them well for years to come.
• Incubators provide psychological support for
  entrepreneurs, who are far more likely to persist
  as a result.

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Conclusion

• The incubators are a very powerful tool as they
• Facilitate the process of technology transfer.
• Promote the development of new companies and of
  new products and services.
• Encourage Entrepreneurship.
• Create new job positions.
• Encourage competitiveness by creating incentives
  for new small enterprises.

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Statistics

• The number of incubators in Greece is 14

• 6 public
• - Technology Park of Salonika
• - Technology Park of Chania
• ?????? Laurio (Hellenic
• Organization of Small Medium Sized
• Enterprices Handicraft S.A.)
• Scientific and Technology Park of
• Ipirus
• KETA Bolos (Thessali Business and
• Technology Center for Development)
• - Patras Technology Park

8 private - I4G - I-CUBE - INQLAB - THERMI -
?echnopolis in Salonika - INICUBATOR -
ELECTRONUM - VCI
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(No Transcript)
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VELTI Successful start up Listed LSE AIM Market
CORPORATE
ADVENT Develops new materials and Systems for
renewable energy sources such as fuels cells and
photovoltaic systems. The major effort focuses on
a High Temperature PEM Fuel Cell system based on
its proprietary technology
EARLY STAGE
VCI BUSINESS INCUBATOR WITH 6 MEMBERS
SEED CAPITAL
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Who we are

• VCI is the Velti Center for Innovation
• VCI is a wholly owned subsidiary of Velti
• VCI is a VC incubator, which aims to fuel the
  next generation of the global Velti offering

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VCI GSRT Partnership

• VCI is partly funded by the Greek General
  Secretariat for Research and Technology (GSRT)
  under the????TO program.
• Program duration April 2005 March 2008.
• GSRT requirements
• VCI must invest in all incubatees
• Incubatees must maintain legal address at VCI
• Incubation services to be offered at below cost
  rates

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What were looking for

• VCI focus is on Mobile Telecommunications and
  New and Converging Media, as well as new services
  for large-scale organizations (financial,
  healthcare).

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VCI Offering (direct)

• Capital Investment for growth
• Office Space
• Technology Infrastructure
• Financial consulting and accounting services
• Marketing Communications services
• HR services
• Legal services
• Consulting (market research, business plans)
• Operations Procurement services
• Secretarial Assistance

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VCI Offering (indirect)

• Management consulting (via positions on the
  incubatee boards)
• The right environment
• Established procedures and fully operational
  platform
• Synergies and co-operation are down the hall
• International orientation access to Velti
  markets
• Access to an experienced network of investors,
  advisors management staff

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VCIs incubents 1/3

• Amplus Technologies
• provides advanced, highly innovative and reliable
  software applications and solutions.
• Amplus wide range of products and solutions
  cover the areas of compliance for financial
  organizations, electronic transactions insurance
  in regards to anti-money laundering, as well as
  mutli-media advertising and broadcasting systems.
  In addition to designing and providing software
  solutions.
• Amplus also offers specialized consulting and
  technical support services to all its clients
  according to their individual needs.

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VCIs incubents 2/3

• Evorad was founded in 2006 to engage in the
  development of medical information systems and
  offer related services. Based on software
  products under development since 2003, Evorad
  offers RIS-PACS solutions for the full range of
  healthcare organizations from medical centers to
  hospitals to research centers.
• m-Point - Velti Telenavis joint the knowledge
  and forces to create this new company in November
  2006 in order to add momentum in the Location
  Based Services in Greece and abroad.
• The scope of the new company is to provide high
  quality services utilizing the Location Component
  in every meaningful aspect.

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VCIs incubents 3/3

• N-Squared Labs is a newly founded company which
  aims to develop and promote a set of innovative
  services and products targeting New Media as well
  as alternative channels of communication such as
  mobile phones and virtual world applications.
• Tagem is a one stop shop for assigning and
  creating a physical hyperlink which automatically
  connects people to digital information seamlessly
  overlaid their actual environment. On one hand,
  Tagem clients can have their digital promotional
  sites made and incorporated to the seamless
  informational overlay and on the other hand users
  can enter the digitally augmented universe to
  learn about merchandisers, receive promotions and
  socialize in various ways.

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VCIs incubents 4/4

• Digital Rum enables corporations to extend real
  time communication to mass market mobile devices.
  Employees can engage in secure IM conversations
  with desktop or mobile enabled colleagues and
  manage their Presence on the move. Workforce
  productivity and responsiveness are increased
  by extending access to corporate resources to
  mobile employees and by enabling real time
  presence-aware collaboration while away from the
  desk.

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• Thank youfor your attention!