The Entrepreneurship Network of the Municipality of Athens is launching a series of interviews with business groups, which, with the valuable and multifaceted support of the Network's member organizations, are moving forward well prepared for the next step.
Our first meeting took place at the Athens Municipality Startup Incubator. One of the most remarkable accelerators in our city with a clear aesthetic, bright spaces, welcoming and generous hosts, dynamic young minds and the most inspiring mentors.
Panagiotis Karakitsios and his team, most of whom are graduates of the National Technical University of Athens, conducted 28,835 hours of research with the aim of bridging the gap between designers and engineers that has plagued the scientific and professional community for years. And they succeeded!
What exactly did Geomiso achieve ? What need did it fill in the market?
Geomiso , united the CAD ( Computer Aided Design ) market with the CAE ( Computer Aided Engineering ) market and introduced the concept of the isogeometric method, a method that demonstrates several advantages over that of finite elements. In simple words, isogeometric analysis studies the behavior of an engineer's work using a computer. This happened before but with the finite element method, a method that was again introduced by a Greek Scientist, Ioannis Argyris.
These young Greek scientists are talking about something hybrid! A true scientific innovation with strong business potential!
How did your entrepreneurial journey begin and how did the Athens Startup Incubator help you along the way?
It all started one afternoon, during a meal, when Panagiotis noticed ideatree . He submitted answers to the requested fields, after all, the fields for scientists have always been fascinating, they were selected and received extremely decisive feedback which they incorporated into their product, they came back stronger and came out first in the final.
This was the first contact with entrepreneurship. Then, the logic of the incubator followed , a logic that was inspired by Ms. Foti and Ms. Kountourioti, coordinators of TheA, with their speeches at Innovathens . The trust in people and the seal of the Municipality of Athens as well as that of the EVEA, were the strongest points for the choice of the incubator by the Geomiso team .
Along the way, they were confirmed, as the support they received was decisive for their path. The top benefits they recognize from their incubator are their mentor, Mr. Lambropoulos, and the networking offered.
What resources have you saved to date and what are your predictions for the future?
The Start up Geomiso has a high growth rate, is a clear technological product and solves problems. How could it not win a strong seed fund for a dynamic start from the ideatree competition ? The most important support in their path so far is the support of the Angelopoulou – Clinton Foundation , which funded the venture of the young Greek scientists with 10,000€.
Geomiso , in its first steps , is valued at €5 million and according to reputable plans, profits of €29 million are expected in 2019.
What message would you give to young Greek entrepreneurs?
The team believes that it is not just a platform, another online application, but a scientific innovation that deserves to be listed on international stock exchanges, to become a multinational.
Of course, there are many steps and support is essential, but as the visionary and co-founder of Geomiso, Panagiotis Karakitsios, told us, "The Greek institutions offered us everything. If I had listened to the sirens of the time, I would have missed every opportunity. Don't abandon the country, don't panic. All you need is hard work, knowledge and passion."
