Starttech Ventures was among the sponsors of The Economist’s Credit Risk Management Conference entitled “Finding liquidity” in association with the Hellenic Bank Association, which took place on the 9th of November in Athens. Let’s talk about risk financing
Credit risk management and liquidity
These are issues of vital importance, on which every country and every business willing to grow should have adequate knowledge. Hence, the talk about risk financing.
Invited as speakers at the conference were Ministers of the Greek Government, high ranking bank executives, finance experts and decision makers for EU institutions and organizations as well as top level company executives.
From SME support to Startup support and acceleration
Dimitris Tsingos, founder and CEO of Starttech Ventures, addressed the audience referring to the significant shortening of risk financing for entrepreneurship in Greece, as a problem for Europe as a whole. “It is not about Greece…it is about OLD Europe” stated Mr.Tsingos.
During his speech he made a strong remark on the “Culture of Failure” which should become part of the European mentality. He also emphasized on the need for significant changes of the legislation and education systems in Europe in order for people to become more creative and more familiar with the meaning of “failure”.
The “United States of…Europe” and the Silicon Valley paranoia
In addition, Mr. Tsingos pointed towards the necessity of reorganizing European foundations with a clear view to creating sustainable entrepreneurial practices and avoiding the “fail fast”, full of high expectations business approach suggested by the Silicon Valley model. “We need authentic growth models for start-up entrepreneurship (including of course risk financing) in Europe.
The growth sustainability model should focus on usefulness and support rather than just excitement and expectations for extremely high and fast returns. The model of the Entrepreneurial Ecosystem which was suggested a few years ago by Starttech Ventures is clearly looking at this direction”.
Finally, Mr.Tsingos mentioned that tax incentives should be given to funds in order for them to return to Greece, to be invested in the real economy and create quality new job positions that will drive the country’s re-growth!
See the full presentation here:
Risk financing for entrepreneurship dimitris tsingos from StartTech Ventures