The Egg Scale Up platform is an advanced business accelerator. It is aimed at businesses that have significant growth prospects, ready to take their next step.
The Egg Scale Up platform supports SMEs to scaleup in national and international level. These SMEs need financial and advisory support. It transforms the Egg's many years of experience to meet the new needs of the ever-evolving Attica business scene. It applies best practices from the most successful scaleup ecosystems abroad.
Egg supports the growth of a business, expanding its business and networking. Support is tailored to the needs and goals of each business.
Egg helps each business to identify its needs and most importantly its strategy to raise the capital it needs and the networking it needs to achieve its goals. Egg follows a special fundraising strategy for scaleup businesses.
Under Egg guidance: Each business defines its real needs, looks at alternative forms of financing and capital raising options. Eventually the business chooses these by matching its profile.
Each business evaluates the financial tools offered by the Scale Up platform. It then comes in contact with investors interested in supporting new businesses in their next step.
The types of financing offered are: Banking, lending, subsidies, equity funding, equity crowdfunding & Angel investment. The Egg Scaleup platform offers also networking and extroversion.
The main stakeholders are Eurobank and Coralia as also other organisations from Greece and around the world like Reload Greece, Mindspace, DMZ and more. Coralia is a semi public NGO supporting the national start-up & scale-up policies.

Resources needed

From 2013 Egg used 3,5 MEuro as financial resources to support SMEs and the platform needs, as also a group of minimum 4 people annually that are fully supporting the platform (to set up and run the practice). In addition, Egg is collaborating with mentors and IT specialists as external experts.

Evidence of success

The Egg initiative (that also supports start-ups) is considered as a successful initiative in Attica Region (as also in Greece) that combines funding resources, business support, networking activities, extroversion in national and international level, as also personalised mentoring for scaling up.
So far (from mid-2013 until mid-2019) Egg supported:
172 business teams (730 people),
100 companies,
435 businessmen and
62 companies that have filed 31 patents.

Difficulties encountered

Egg encountered challenges and big opportunities to expand its SMEs scaleup activity abroad. Finding new customers and partners, networking and expanding exports were and still are critical challenges to step on. Egg improves its performance under the supervision of an Advisory Committee of experts.

Potential for learning or transfer

This practice is estimated as being potentially interesting for other regions to learn from. Its innovative activity that combines the same organisation support for start ups and scale ups under the same organisational model and structure is interesting.
Egg works in a flexible model of SMEs support, combining different levels of support to match financial, networking-extroversion and advisory needs for business to scaleup.
Regarding bigger SMEs, Egg’s staff are always advised by very experienced businessmen consisting of the membership of Egg’s Advisory Committee.

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Project
Main institution
Regional Development Fund on behalf the Region of Attica
Location
Aττική, Greece (Ελλαδα)
Start Date
April 2013
End Date
Ongoing

Contact

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Good Practices being followed by

Giacomo Frisanco

Eurada (European Association of Development Agenciesù)