Welcome in Czechoslovakia. Any startups here?
Download as PPT, PDF•4 likes•1,775 views
The document discusses the startup scene in Czechoslovakia. It notes that 40 years of communism has negatively impacted traits like responsibility and self-confidence. While the local market is isolated, there is a smart and intelligent workforce that can build companies cheaply, but they lack leadership and management skills. It says that currently investors are only investing in existing revenue models or market shares, making it hard to get funding for early-stage companies. It questions if Valley investors are ready to invest in the region and what criteria and expectations founders would need to meet to receive funding.
Welcome in Czechoslovakia. Any startups here?
- 1. Welcome in Czechoslovakia. Any startups here? Jan Horna
- 2. What has determined us 40 years of communism damaged our DNA Less responsibility, low self-confidence and self-esteem Cooperating is something we need to learn „ Socializing” has a negative connotation
- 3. Czechs online A very isolated market Google is not No. 1 in search (only 32% market share) Seznam .cz leads with cca 60% share 1.5 million Czechs on Facebook
- 4. It’s all about people The major local geek events have been organized by Jack DeNeut (Minnesota) Who ’ s got the most followers on Twitter in CZ? Robert Morrison AKA @PragueBob There’s an exception: Roman Stan e k (founder of NetBeans, Systinet, Good Data). He moved to S an F rancisco this year ; -)
- 5. Local startup scene Many ideas, mostly focused to the local market Poor execution and monetization Smart and intelligent workforce You can build companies on cheap Lack of leadership and management skills
- 6. Angels, investors, VC Currently investing in existing revenue models or valuable market shares Hard to secure an investment for early-stage companies Because everybody is afraid of the failure (typical in Europe)
- 7. Show me the (better) money We need money for great people or great ideas (ideally for great people with great ideas) Central and Eastern Europe is a high-risk zone so investors should implement tight-control mechanisms But then they can expect a higher ROI
- 8. What startups need More excitement , devotion and innovation Reach out to the global market Don’t stay in vacuum (=Central Europe) and get connected to the Valley Building web services needs a lot of knowledge today Founders willing to risk and succeed
- 9. My questions Are the investors from the Valley ready to invest in this region? What are the key criteria for receiving the funding? What do investors expect from local entrepreneurs?
- 10. ja n horna Gmail Twitter F riend F eed Facebook L inkedIn Skype Contact