A new approach needed EXTROVERTION & ENTREPRENEURSHIP Vlasis Korovilos Athens University of Economics and Business Career and Employment Unit (CEU/DASTA) 12.01.2012 – Πανεπιστήμιο Πελοποννήσου

Extrovertion in greek economy What comes in mind when you hear the word?

A more traditional approach Agricultural sector: Fruits, vegetables, food sector Specific industry sectors: Textile, clothing Metal products, cement In the 90s these sectors represented 80% of the total value of greek product exports.

A more traditional approach What about the services sector? Tourism and transport (shipping) represent up to 90% of total value of service exports They have been consistently producing surplus in the services sectors

Was that good enough? - Exports: a very low share in GDP - Low added value from “Traditional” sectors - Exports: a very low share in GDP “Almost insignificant” - Exports < Imports in value (deficit) plus - Greece was consistently ranked low in Competitivess charts and reports (for more than one reasons)

Where did that take us? - certain sectors were almost devastaded (textile, clothing, cement) - industries moved to neighbouring countries - how can you compete a chinese industry if you are in a low added value sector? (Globalization and EU regulations)

What has changed over the last few years? Traditional sectors* have a declining share in the total value of greek product exports From 82% in 1990 down to 60% in 2007 *meaning: - agricultural sector - natural resources intensive products - labour intensive products

What has changed over the last few years? New emerging sectors* account for up to 40% of the value of greek product exports in 2007 (and keep growing...)

What has changed over the last few years? ''Against all odds'' certain industries emerged and new sectors were reinforced in a globalized competitive environment

Which sectors made it? Pharmaceuticals Solar systems Telecommunication equipment Certain plastic industries Certain chemical industries Cosmetics plus Banking, Consulting and financial services Shipping and Tourism

Which sectors made it? have you heard of them?

Which sectors made it? Technology intensive Knowledge intensive / highly skilled workforce & high adding-value traditional sectors

Is it still going? (-) Crisis* has changed the plans of many companies: Greek bank branches failed in some countries, investments abroad were withdrawn Competing gets even harder when you lose your credibility or your access to the credit system (+) Crisis* pushes greek companies to turn to markets abroad * 2008 and on

Is it still going? Some '90s and '00s champions are doing fine Some have been severely tested Overall the value of imports has overcome the value of exports Is it because we found the way to do it Or because the imports have shrunk?

A new paradigm is needed So, is it sustainable? A new paradigm is needed A new approach to make extrovertion value adding and sustainable

So, is it sustainable? knowledge intensive sectors Keep in mind what we've learned: knowledge intensive sectors highly skilled workforce technology intensive sectors high adding-value sectors higher quality of products and services

Startup companies A new approach ... greater value and revenues These sectors may allow greater value and revenues from global markets at lower investment costs Startup companies Entrepreneurship appeals to more people Mobility and Extrovertion gets sustainable

Have you ever heard of them? A new approach ... Have you ever heard of them?

What is new? What is different? Some characteristics of some extrovert / startup companies seeing extrovertion and global moblity more as a strategic decision rather than a reaction to crisis identifying needs outside Greece / targeting markets abroad going global is in the core of the venture - use technology or high skilled workforce

What is new? What is different? - provide high quality products and services - started from scratch - worked hard - maybe failed once but pivoted - work in teams - have branches abroad or spend months abroad - employ personnel from abroad in Greece

What can make them succesful? Is it the idea? Is it the product? Is it the funding opportunities? Is it a successful campaign? Most argue: The most important success factor The Team People make business sustainable

Because a team... Enables brainstorming Encourages team members when times are difficult Allows synergies Helps overcome early dissapointments Makes easier to identify mistakes, work on alternatives and pivot Combines skills and attitudes

Skills and attitudes Innovative thinking / Creativity Teamworking Persistence / perseverance Communication and networking Supervision and teamwork Execution and administration Handling risk and uncertainty Plus Technical skills across functions

If all these sound interesting and appealing ....... What can you do about it? If all these sound interesting and appealing .......

....Get informed – Get involved Being a higher education student means that: - you have plenty of time available - you are just a click away from exploring opportunities in this new world - you're a few blocks away from other people sharing these interests and passion

Get Informed Trends and needs Ideas and solutions Success and failure stories Outcomes of previous experience How to concieve and consolidate your own ideas and solutions Who can support you in this and in what way

www.startupgreece.gov.gr

theopenfund.com

tedxathens.com

Startup live athens

startup.gr

hellenicstartups.gr

youngleaders.gr

www.mke.aueb.gr

Get Involved Once you're informed Put your ideas into practice Channel your passion and energy into actions Develope skills and competences that will allow you to experience mobility and extrovertion Picture yourself as a future entrepreneur/ startuper

Get Involved Career and Employment Units (CEU/ΔΑΣΤΑ) Greek universities offer you new services and experiences through the recently established Career and Employment Units (CEU/ΔΑΣΤΑ) = Career Office (Γραφείο Διασύνδεσης) Internship Office (Γραφείο Πρακτικής Άσκησης) Entrepreneurship Units (Μονάδα Καινοτομίας και Επιχειρηματικότητας)

What you can do through CEU/EU Business Idea Contest Mentoring & coaching Access to case studies, research and data for entrepreneurship and startups Skills development Ideas presentations & workshops Business plan development & pitching Preincubation coming soon... Through teamwork and support by our staff

www.dasta.aueb.gr

For those of you who... Want to experience global mobility and extrovertion in action Can identify a need or a challenge Try to come up with a new idea to address it Want to work in teams to build a plan or carry out a project

We're here for you... Take the first step..... Thank you