350.000€ invested by IQbility within 2016!
Some companies use our incubation facilities. Some others don’t since they are already big enough to support their operations. This is fine with us since we want to provide value where it is needed. What gives us great confidence is that all portfolio companies (new or old, successful or not) want to spend numerous office hours with us to listen to our advice or engage us to assist them. The satisfaction we get every time we succeed in offering value is 10x the one we get after we patricipate in a funding round.
There were also failures and teams who seized their operations. But I guess this (apart from a natural law) is also a sign of maturity in the context of knowing when to “pull the plug” and move on.
There’s no exit yet, however all our portfolio companies are still very early in the startup cycle. We see very promising signs and patience is one of our virtues after all.
Last but not least I would like to personally thank Quest Holdings for their ongoing support by investing their own, 100% private, hardly gained proceeds. You see, during the last four years the “Jeremie Funds Phenomenon” was the number one catalyst in creating the so called greek startup ecosystem. On the other hand all these headlines about big funding rounds in multimillion valuations, created to some of us, a distorted sense of the value and supply of money (interestingly though not so much to the ones who really managed to raise funds). We must not forget that private investors in Greece (especially when it comes to high risk early stage investments) are still very rare “animals” and that the long term sustainability of the ecosystem depends highly on including, maintaining and expanding the local investor base willing to be engaged.