top of page
Image by Charles Deluvio

Training and Consulting Programme for Cypriot Start-ups

On behalf of the Cyprus Institute for the Promotion of Research (IPE), Navigator Consulting implemented a 2-day training and consulting programme for innovative start-ups in Cyprus. 


The first day comprised classroom training for a group of 25 Cyprus start-ups and founder teams. The session was entitled: 


Financing and Growth Strategies for Cyprus Start-ups


1. Financing Options and Methods for Start-ups and Scale-ups


  • Understanding the growth cycle: pre-launch; pre-revenue; growth

  • Review of different investor types: FFF; angels; VC; PE; banks; EU funding; IPOs

  • Investment criteria and expectations by investor type


2. Business Modelling and Financial Planning


  • Developing a dynamic financial and operating model

  • Assumptions; Workings; Profit/Loss; Capital Expenditure; Valuation Models

  • Sales and revenue modelling; sales funnel optimization; non-revenue growth

  • Expenditure modelling

  • Capital expenditure and use of funds by Cyprus start-ups

  • Profit/loss model

  • Key financial indicators, including NPV, IRR, start-up valuation

  • Key operating indicators, including cash burn rate, runway, customer acquisition costs, active users, churn, etc. 


3. Pitching and Term Sheets 


  • Know what to ask for: Use of funds; Fund release and disbursement mechanisms

  • Preparing for and implementing Cyprus investor due diligence

  • Structuring a term sheet: common investors requests and terms

  • Pre- and post-money valuation

  • Dealing with equity dilution in the first and subsequent funding rounds

  • Structuring a board of directors and start-up governance post-investment


Lunch Break 


4. Achieving Product Market Fit


  • Development and launch cycles

  • Customer feedback: UX / UI / CEM

  • Service delivery and fulfillment issues

  • Achieving customer share, customer engagement, segment/market share

  • Pricing models and methods


5. Scaling up and Growth


  • Selling methods and contracting, focusing on B2B and B2C

  • Growth hacking and online growth methods

  • Users and user management

  • Revenue and conversion models 

  • Marketing, Selling & Public Relations

  • Scaling up: Engineering, Orga, Customer Service, Contracting, Staffing



Day 2: Cyprus Start-up Mentoring


One day of mentoring 8 Cyprus start-ups was provided. This was based on 1-hour sessions during which Philip Ammerman met with 8 founder teams to discuss their current operations, status and objectives. 


The start-ups spanned a range of companies and included: 


  • Advertising solution for the onboard aviation sector

  • Artificial intelligence and machine learning solutions

  • Electromagnetic modelling for power field distortion, corrosion and electricity distribution loss for building, photovoltaic and other applications

  • Robotic titration system for life science laboratory experimentation

  • Evaluation management software

  • Automated and AI-calibrated electrocardiogram reading and analysis

  • Integrated sensoring equipment for bee population and honey production

  • Innovative short-haul delivery systems for urban centres. 


A brief advisory outline was issued to each Cyprus start-up. 


Navigator Consulting is committed to supporting innovation and start-ups in Europe and world-wide. For further information, please contact us

Cyprus Institute for the Promotion of Research (IPE)

Date of Engagement:
January 2020

Countries of Operation:

Business Function:
Business Incubation

Business Sector:


bottom of page