He has been working in the digital world for more than 20 years and is the head of Creative Lab , where some of the most interesting ideas are "born". Steve Vranakis, of Greek origin, born in Canada, works in London, but closely follows the Greek Startup scene. He was in Greece as part of Cosmote Startup and spoke to in.gr about startups, the "secret of their success" and how he sees the situation in Greece:
in Greece lately . Is it just a new trend or something deeper?
It's not just a trend that we follow because others are doing it, in different parts of the world. It's more of a movement. Young people understand that the only ones responsible for their future, their destiny and what they will achieve in the world are themselves. And when you understand that there are no longer endless jobs like in the past, you enter a different mindset, much more innovative and entrepreneurial. And technology can accelerate this mindset.
There was a time when young people aspired to work in the public sector. The reality now is that things have changed and young people are looking at all the alternatives available to them. And when you have limited alternatives, you become much more resourceful. I am a big believer in creative conflict. If you offer infinite tools, time and human resources, it is very difficult to create something worthwhile. But the moment you put constraints on time, money and human capital, then you see innovation. You see people doing things that you thought were impossible. It is unfortunate that the economic crisis happened, but the pressures we are under force us to do something, both for our country and for ourselves. So they teach us to create companies, they teach us how to export our ideas.
the world of Startups made for a privileged few or can everyone benefit?
When I got on the Internet in 1993, I realized that once you get past the initial hurdle, it doesn't discriminate. You're now "in" and have all this infrastructure and the skills to do something. So, it's not a socio-political or economic issue. The cost of computers and Internet access has dropped a lot and it's up to you to do something. So I don't think only the privileged few are winning. In Greece, things are different compared to abroad. We don't see the crazy valuations that exist in the United States. Here, companies are starting up that may not be targeting the local market, but they are taking advantage of the youth labor market to make their ideas a reality. One of Greece's great advantages is that it has a surplus of available scientists and engineers. This means that there are many smart and talented people who can "shine" if they have the right environment.
Is emigrating outside Greece the only way to a successful Startup?
You can start an idea in Greece, since the country can act as a first-class springboard, and then export it to the United States, Europe or anywhere else. And at the same time, utilize the human capital that exists in Greece to do all the planning and development that you need. Even if the company leaves the country, it can create jobs in Greece. And this model is very different compared to countries like India. The issue is not to come to Greece just for the lower wages, and Greek workers should not be paid less than abroad. There is a huge talent pool that companies can utilize and those people who want to stay in Greece. So, even those who leave Greece will be able to maintain a relationship with the country, utilizing the workforce.
Behind every successful company are dozens or even hundreds of failed ideas. Is there a magic formula and "secret to success"?
If you don't fail, you probably don't learn. In Silicon Valley, new companies are developed and their creators fail three or four times before they succeed. And this is not a matter of luck, but it happens because every failure teaches them something. We have to embrace failure and as long as it is not catastrophic, I don't think it is a bad thing. People in Silicon Valley wear failure like a badge. On the other hand, there is a financial cost to every failure, but essentially you don't need a lot of money to start a startup anymore, nor are you bound by long-term contracts. Now all you need is a proof of your idea, you don't need millions of dollars or euros to move forward. And even if an idea doesn't succeed today, maybe in a year or two, in a different market, it might have better luck.
Would you invest in a Greek startup?
If I could, definitely. Because of my position in the company, I'm not allowed to. But I help a lot of Greek companies. And I don't have to invest directly, taking money out of my pocket, as long as I help them improve their company and from the moment I do that it's like investing. They don't have to earn 10 million euros to be happy, as long as someone learns something from what I say and helps them start their business.
You were in Greece two years ago, as a speaker at TEDx Athens. What has changed since then?
When I was at TEDx two years ago, I told them that if someone could film that day and cut it into a 30-second video, it would be the best advertisement for Greece. You saw the best that the country had to offer, artists, scientists, musicians, not just technology. It was a “Renaissance” for Greece. But back then, this was a small “island” and the rest of the country was not like that. But now, this small group has “grafted” many more and has led them to think differently. All you need is to have more of them! We are still in the early stages, but there is great potential.
Interview: Dimitris Pefanis
