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Philip Ammerman to train startups at the 2nd Microsoft for Startups Programme in Cyprus

Updated: Mar 7, 2023



The Microsoft for Startups Programme in Cyprus is an initiative carried out by Microsoft Corporation, in conjunction with a range of Cypriot partners.


Now in its second year of operations, the Microsoft Startups Programme aims to support 10 Cypriot startups through a mix of mentoring and training. The objective is to build a strong start-up and entrepreneurial ecosystem as well as support start-up founders with basic business and ICT concepts as well as Microsoft Tools.


In Cyprus, the programme has been launched by the European University of Cyprus together with a range of innovation partners including BSM Cyprus, CNP Cyprus, the Cyprus Telecommunications Authority (CYTA), ExxonMobil, Ernst & Young (EY), Gnomi, GrantXpert, Hellenic Bank, IMH, Logicom, NetU and NewCyTech. The Cyprus Chamber of Commerce and Industry (CCCI) is a strong supporter of the program, together with GVI Cyprus.


In general, many startups in Cyprus tend not to have a strong command of financial modelling and how this aspect supports both general business planning as well as company valuation and fundraising negotiations.


Philip Ammerman will provide a 2-hour “speed session” on the basics of how to develop a dynamic financial model using MS Excel for start-ups. It will explore the relationships between the business plan and the financial model. MS Excel is considered the standard for financial modelling in the venture capital and investment banking industry.


The session will cover:

  • The B2B versus B2C sales model

  • Setting sales targets per year

  • Calculating annual sales revenue per product / service type

  • Calculating annual renewals and defections

  • Calculating cost of service or cost of goods sold

  • Modelling overhead costs by category: staff, office costs, marketing and sales costs, etc.

  • Accounting for inflation in financial forecasts

  • Capital expenditure and depreciation budgeting

  • Setting up the profit / loss model


The MS Excel worksheets will be set up as follows:

  • Assumptions

  • Sales Forecast / Workings

  • Expenditure Forecast / Workings – Staff, Marketing & Sales, Operations, etc.

  • Development Operations

  • Capital Expenditure

  • Profit / Loss Forecast

  • KPIs and Valuation


The training will make use of a case study but will be heavily interactive. Participants are invited to bring their own laptops and MS Excel to follow along the training.


In addition to the modelling component, Philip will share his practical experience in fundraising, valuation and evaluation of start-up planning. For example, ensuring that any DevOps release dates and activities synch with the wider financial planning and runway of the startup, and are also integrated into the marketing and sales planning.


Further information is available on the programme website: https://euc.ac.cy/en/microsoft-for-start-ups-cyprus-program-second-call-is-open/


For further information on our services relating to financial planning, forecasting and modelling for startups, please contact us.


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