IN­NO­VA­TION

Silicon Luxembourg - - CONTENTS -

Be­liev­ing in Star­tups Mod­ern Mo­bil­ity: Shared, Elec­tric & Mul­ti­modal Arch Sum­mit 2018: Bridg­ing the Gap Be­tween Star­tups & Cor­po­rates So­cial Im­pact In­vest­ing: How to get started A Bet­ter Cus­tomer Ex­pe­ri­ence with VR

PITCH YOUR STARTUP (PYSU) IS BACK IN LUX­EM­BOURG CITY. LAUNCHED IN THE GRAND DUCHY FOUR YEARS AGO BY DO­CLER, THE CON­TEST NOW OF­FERS €100,000 IN PRIZES (IN CASH AND SER­VICES). WE ASKED MÁRTON FÜLÖP, COO OF DO­CLER, TO TALK ABOUT THIS EVENT'S IM­PACT ON THE ECOSYS­TEM. WHAT WERE THE SO­CIAL IM­PACTS OF THE FIRST THREE PYSU EVENTS?

Since we started this ini­tia­tive back in 2014, we have no­ticed a pos­i­tive im­pact, not only on the lo­cal mar­ket but also within the con­test it­self. The play­ers in both have had no choice but to evolve in or­der to re­main rel­e­vant, which is never a bad thing. Com­pe­ti­tion fu­els change, which in turn fu­els growth.

The first PYSU event drew around 30 startup ap­pli­ca­tions, which soared to 90 the fol­low­ing year! The peak so far was last year, with 180 ap­pli­ca­tions from 25 dif­fer­ent coun­tries. We pre­dict a sim­i­lar num­ber of ap­pli­ca­tions this year. The in­crease in the qual­ity of ap­pli­ca­tions over the years has been im­pres­sive to wit­ness, and we are look­ing for­ward to the 2018 lineup.

We have seen sim­i­lar ini­tia­tives emerge through­out the na­tional mar­ket, and an in­crease in the vis­i­bil­ity given to the startup in­dus­try. This is re­ally pos­i­tive for Lux­em­bourg, and we are happy we could bring our own fla­vor to it. How­ever, we feel that there is still much more that can be done in or­der to at­tract even more tal­ent and star­tups. That's why this year we have de­cided to take it to the next level.

HOW? WHAT'S IN STORE FOR US IN THIS 4TH EDI­TION OF PYSU?

This year we have de­cided to do things a bit dif­fer­ently. We never wanted to be the sole own­ers of the PYSU brand and to be the only ones back­ing it. We have thus opened the com­pe­ti­tion to other part­ners, not only to raise the qual­ity of the event and the prize money, but also to boost di­ver­sity, in­volve more col­lab­o­ra­tors, and bring every­one in­ter­ested in star­tups and in­no­va­tion to the same ta­ble.

We are happy to wel­come two ma­jor new­com­ers this year: BIL, with its In­no­va­tion Award cash prize of €20,000, and Ernst & Young. Do­cler Hold­ing will again con­trib­ute €50,000 in cash prizes. Nyuko is of­fer­ing a free three-month com­plete ac­cel­er­a­tion pro­gram. LCI will of­fer two open desks in its open-space in­cu­ba­tor, with full ac­cess to its re­sources for three months. LHOFT has guar­an­teed three months of hot-de­sk­ing and a oneyear mem­ber­ship, in­clud­ing "Strate­gic Ben­e­fits." This is just the be­gin­ning as we also have other in­ter­est­ing part­ners in the pipe­line.

All to­gether, these prizes to­tal €100,000. We are im­mensely proud to be able to take this event to the next level with all of these new part­ners unit­ing be­hind a sin­gle brand.

WHY DO YOU WORK WITH STAR­TUPS?

We be­lieve in star­tups. It's part of the com­pany's DNA, and it's also how we started out.

We en­cour­age our em­ploy­ees to adopt an en­tre­pre­neur­ial mind­set. When­ever they come up with an idea, we are al­ways happy to lis­ten to it and sup­port it when we be­lieve it has po­ten­tial. We have also in­vested in and in­te­grated some star­tups into our own tech­nol­ogy and busi­ness, as we be­lieve great ideas and in­no­va­tion of­ten come from out­side sources.

I be­lieve all of the PYSU part­ners share the same phi­los­o­phy, which is why they have de­cided to join the ini­tia­tive and add value to it.

HOW CAN YOU SUC­CESS­FULLY DE­LIVER A PITCH IN 3 MIN­UTES AND 33 SEC­ONDS?

It's dif­fi­cult, that's for sure, but it is also a great way to dis­cover the real essence of your startup. A pitch has to be clear and straight to the point. Pitch­ers must keep it short, but at the same time tell their story and give us some in­sight into their world and their com­pany's phi­los­o­phy. Prac­tice is ob­vi­ously a good idea, but en­thu­si­asm is es­sen­tial!

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