Eurobank and Corallia of the Athena Research Centre presented the new upgraded operating framework of the egg – enter•grow•go Programme, an initiative jointly designed and implemented since 2013.
Now in its seventh year, and having become the most comprehensive framework for supporting new entrepreneurship endeavours in Greece, egg is turning over a new leaf.
Addressing innovative businesses that have a business plan in place which allows for investment growth and commercial operation, egg responds to new needs through two distinct yet complementary entrepreneurship support platforms:
- The Start Up, which addresses business teams or startups (up to 3 years) with new business ideas, and offers them multi-level support through Programme benefits, so they may explore their potential to develop their idea in their early business stages.
- The new Scale Up platform, which is an integrated framework for accelerating product development and is addressed to more mature startups. The new platform provides a set of supportive actions and tools to help the participants raise the necessary capital, target the right client base, accelerate the promotion of the product or service they offer, and ensure the success and viability of their business by boosting their sales both in Greece and abroad.
While presenting the strategy for the next day for egg, the Deputy CEO at Eurobank, Mr Stavros Ioannou, stated, “Eurobank’s decision to invest in egg all these years – €12 million in new innovative ideas and businesses – produced positive and measurable results, with a social impact. We are forging ahead even stronger in the new challenges. Young entrepreneurship is at the forefront, irrespective of the age of the entrepreneurs, who we will support so they may develop their company, securing fast investments and sales, viability and expansion within and beyond the borders.
As Mr S. Ioannou, noted, “In this new phase, the role of the Banks is to help new businesses efficiently transform their ideas into business plans that can seek and find adequate financing to achieve specific targets and results. At the same time, we are adjusting to the rapidly changing conditions, following he international trends and investing in the development of innovative ecosystems, opening up new markets.
The changes in the structure and operation of egg – enter•grow•go were also the topic of discussion for Mr Michael Vlastarakis, General Manager of Group Marketing & Corporate Communications, Eurobank, who presented the financing tools, and Dr Nikolaos Vogiatzis, Chief Development & Operations Officer, Corallia, who referred to the consulting framework.
The egg Manager, Ms Roula Bachtalia, analysed the new egg operational framework, underlining that flexible and rapidly developing companies within the egg accelerator had found the right partner to solidify their competitive advantage, by having access to support from start to finish during their business progress.
Representatives of two very promising egg companies, which are already expanding their activities abroad, shared their personal experience from egg, the benefits and the prospects they gained by participating in the Programme. They were Ms Marianthi Fragopoulou, CEO at HERADO, active in the area of radiation protection, which has already signed a partnership agreement with NASA for the Orion programme and its historic mission to the Moon, and Mr Pavlos Linos, CEO at Exit Bee, which is active in the area of online advertising and redefines the limits of display advertising. In the context of the Extroversion Programme, Exit Bee has already commenced activities in the Canadian market.
Given that getting financing for a company is crucial, apart from the other benefits the Scale Up offers, it gives entrepreneurs access to an integrated package of financing solutions, which includes financing from Eurobank with working capital and long-term loans, new financing options such as Crowd Equity Funding through Eurobank Equities with the participation of private investors, and access to microfinancing .
At the same time, η Eurobank is participating as a private investor in three (3) funds, Big Pi, Uni.fund and Velocity Partners, which are supported by EquiFund, the investment platform funded by capital from national and European funds (European Investment Fund – EIF, European Investment Bank – EIB and private investors).
Applications for the Start Up platform are already under way, with the cut-off date on Monday 22 April 2019. Applications for the Scale Up platform can be submitted as of today and throughout 2019, while they will be assessed gradually. Interested parties may find further information on the new egg – enter•grow•go website.
The Press Conference is broadcast via live streaming on https://www.facebook.com/eggGR/
