The company was created to do exactly as the name implies; examine ideas, bringing the best ones to life and has been doing so, successfully, for a little over five years now. The company operates in the field of services, providing web and e-solutions improving and creating new e-markets.
The company handles most of its activities in-house, from daily operations to web and platform design and from SEO to marketing, advertisement and more. Its team comprises of highly knowledgeable and innovative individuals, brought together by an ‘”itch” to create and create they do. Currently it runs two successful projects, atyourservice, an online market for services and foody, an online platform for food and beverage orders.
Both projects were and are highly successful with the team receiving many awards, including but not limited to the InBusiness award for Best new company in 2014(AtYourService) and the Youth Board of Cyprus – best entrepreneurial activity in 2016 (Foody).
More specifically, the AtYourService project is a highly successful online Marketplace for Services. It includes over 200 different types of services ranging from plumbers, Photographers, to Tutors and Lawyers. It is essentially a two-sided marketplace that enables customers to request services and Professionals to submit offers relevant to the requests. Currently, over 2000 Services ads are placed every month, with the platform still growing on a monthly basis.
The second project-Foody, is a web & mobile platform for online food and beverage orders. Launched in 2015, it has since then been steadily growing rapidly, surpassing all expectations. The company estimates that before the end of 2017, approximately 20% of all orders in Cyprus for delivery & takeaway will be done online, through foody.
Size of business
From the beginning, the goal of the business was to build a startup company similar in culture and in structure to the best startup companies in Silicon Valley, London and Berlin. For that reason the support received was sough-out from start-up scene resources around the world.
For example, a VC Term sheet written in plain English was employed to understand what the standards in startup financing and business structures are and the company was structured accordingly.
As to finances, to get Ideas2life started, an investment of about €300,000 was made, comprising of a €70,000 European Innovation grant and the rest of the capital invested by team members.
Opportunities and plans for the future
Fueled by their second success, the company has also been growing rapidly. The goal of the team is to even launch a new global startup within 2018. Ideas2Life seems to be on a roll. With positive predictions for 2017 and an inbound global startup attempt on the way things are certainly looking up for the company.
Pitfalls and challenges
In light of the Scarcity of resources and unavailability of capital eminent in the Cypriot Startup ecosystem, the €300,000 investment gathered represented a very decent starting capital. The goal of this initial investment was and still is to create strong recurring sources of income that pay for the salaries of the team members and finance the operations of its projects. Essentially by creating a seed money circle, the team assures itself capital for its oncoming projects, bypassing the limitations of the Cypriot start-up scene.