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OK!Thess: a pre-incubator to support start-up initiatives and develop city’s innovation ecosystem
Published on 05 April 2019
Greece
Kentriki Makedonia
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About this good practice
Transport comprises a cross-sector field where several sciences and professional practices converge altogether (e.g. ICT, logistics, human behavior, marketing, etc.). Thus, the pre-incubator concept where several multi-disciplinary teams are working side by side, by incorporating co-creation and co-design approaches in their business development process would seem ideal for transport-focused start-ups.
OK!Thess is a hub in Thessaloniki, Greece, that brings together 9 institutions of the local innovation community (indicatively mentioning: Aristotle University of Thessaloniki, Alexander’s Innovation Zone, Municipality of Thessaloniki). It helps any early-stage startup enter the real market by validating the potential of its innovative business idea and making the next step towards its development to a product or service. It acts as a pre-incubator by providing intensive entrepreneurial training, coaching and mentoring programme. The programme consists of masterclasses as well as regular 1-to-1 coaching by an experienced professional who advises and guides the participants until the emergence of a good business plan. OK!Thess organizes Demo-Days – events in which mature teams meet with investors in order to ensure funding for their budding business.
Indeed, a new start-up, RHOE, specialized on transport software development has already resulted from OK!Thess. In addition, several transport/mobility innovation events were hosted in its premises (e.g. CIPTEC workshops, etc.)
OK!Thess is a hub in Thessaloniki, Greece, that brings together 9 institutions of the local innovation community (indicatively mentioning: Aristotle University of Thessaloniki, Alexander’s Innovation Zone, Municipality of Thessaloniki). It helps any early-stage startup enter the real market by validating the potential of its innovative business idea and making the next step towards its development to a product or service. It acts as a pre-incubator by providing intensive entrepreneurial training, coaching and mentoring programme. The programme consists of masterclasses as well as regular 1-to-1 coaching by an experienced professional who advises and guides the participants until the emergence of a good business plan. OK!Thess organizes Demo-Days – events in which mature teams meet with investors in order to ensure funding for their budding business.
Indeed, a new start-up, RHOE, specialized on transport software development has already resulted from OK!Thess. In addition, several transport/mobility innovation events were hosted in its premises (e.g. CIPTEC workshops, etc.)
Expert opinion
OK!Thess is a start-up hub that aims to support entrepreneurship and the creation of start-ups in in Thessaloniki, Greece. The initiative provides co-working spaces and training, coaching and mentoring programs to support the development of early-stage start-ups. It involves 9 institutions of the local innovation community, including Aristotle University of Thessaloniki, Alexander’s Innovation Zone, and Municipality of Thessaloniki, promoting cross-sectoral collaborations through multi-disciplinary co-design approaches. Through this initiative, several transport/mobility innovation events have been organised, and a new start-up specialising on software development for transport innovation—RHOE—has been created. The initiative can inspire regions ranked as emerging or moderate innovators in the Regional Innovation Scoreboard 2021 that aim to promote start-ups and entrepreneurship.
Works at
Interreg Europe Policy Learning Platform
Resources needed
The setting up costs were of the order of €80Κ. The running costs for the first year (2017) were of the order of €70Κ, whereas for the second year (2018) €110Κ. Currently, it is running on a relatively steady €170Κ pa.
Evidence of success
Since the establishment of OK!Thess, 167 teams have applied for the accelerator programme. During the first 6 cycles, 57 teams have participated, whereas currently there are 19 teams going through the acceleration process. It is estimated that 160 people have been involved in these actions. 27 teams still continue their effort by receiving occasional help (Alumni teams). As a result, including Demo-Days, funding over €1.2M was raised and around 136 jobs have been created by the teams set up.
Potential for learning or transfer
OK!Thess comprises a successful example of cooperation among public and private actors towards the generation of innovation, the support of the small ‘players’ and the gradual growth of a business-oriented mindset, especially focusing on the new generations.
Encouraging alternative and creative ways of thinking by promoting and supporting transport innovation is essential towards the achievement of regional growth in Europe.
This practice can be realized easily and without huge financial investment, having an important impact on developing a business-friendly culture, an entrepreneurship mindset, and an innovation-oriented and out-of-the-box way of thinking on transport sector.
By providing some space to be shared by the local creative and young people, and by engaging experienced transport entrepreneurs as mentors and tutors on volunteering basis, a city could enhance the abilities of prospective and promising start-up teams, taking full advantage of their market potential.
Encouraging alternative and creative ways of thinking by promoting and supporting transport innovation is essential towards the achievement of regional growth in Europe.
This practice can be realized easily and without huge financial investment, having an important impact on developing a business-friendly culture, an entrepreneurship mindset, and an innovation-oriented and out-of-the-box way of thinking on transport sector.
By providing some space to be shared by the local creative and young people, and by engaging experienced transport entrepreneurs as mentors and tutors on volunteering basis, a city could enhance the abilities of prospective and promising start-up teams, taking full advantage of their market potential.
Further information
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Good practice owner
You can contact the good practice owner below for more detailed information.
Organisation
OK!Thess
Greece
Kentriki Makedonia
Contact
Research Associate