TheStartup.eu

It’s a known fact that seed capital is very scarce in Italy. Entrepreneurs, which by definition are stubborn entities are therefore finding creative and cheap ways to bootstrap their startups.

Tipsandtrip was born from an idea of social media consultant Juliette Bellavita and Blogo.it CEO Marco Magnocavallo. They had the goal of launching a web app and an iphone app in 6 months with less than $10k.

How did they do it? With some great project management and a few crowdsourcing platforms. Let’s break down their costs:

• Logo design: a simple contest on 99designs with a $300 prize. 114 submissions and a professional logo in less than a week.
• Development: using DjangoPeople and Elance a very international team was born. Developers are in Argentina, Ukraine and Russia. Total cost: $5000.
• Iphone development: an italian freelance developer found on the web. Two months of work and $2500.
• Iphone icon: a dutch designer made a professional icon for $350
• Internationalization: translations in german, french and spanish. MyGengo.com and Tolingo.de. 24h turnaround and a great service. Total cost: $100.
• Hosting: pay-as-you-go cloud servers, mostly free in the beginning.
• Debug/usability: UserTesting and $100.
• Sweat Equity: Juliette and Marco put in a bit of work during weekends as project managers, designers, developers, sysadmins, etc.

Total: $8,350.

They say they’re gonna use the remaining $1,650 to fix the numerous bugs that usually come out after the launch.
We still haven’t drilled down into the app. The founders were tired of having to remember all the precious tips their friend were giving them regarding restaurants, B&Bs, shops, etc. in foreign countries prior to their trips. After looking for an online tool to annotate all this information and having found nothing really useful they decided to build it themselves.

Tipsandtrip is your portable notebook where you can write your vacation related notes and find the best tips your friends and other users make public. The app will be a crowdsourced list of the best restaurants, shops, parks, beaches, B&Bs and city spots for tourists. The app obviously geolocalizes every info and integrates with Facebook and other social networks.

They are competing in a very crowded and fragmented market but I’d say that for $10k, they’re off to a good start.

It’s a free app and you can download it here.

Last week Milan saw its ‘Pitch Slam’ event, organised by the Guidwire Group. Threeplicate, an Italian startup whose mission is to create “software that works,” beat out stiff competition to take first place. Runners-up at the Pitch Slam included Sentimetrix, a startup that helps measure sentiments or opinions expressed via electronic media, and Pantea, which allows companies to build tailored mobile media marketing solutions.

The Innovate!2010 Pitch Slam in Milan is one of over 20 Pitch Slam events that Guidewire Group is hosting this year across Europe and the United States. At each Pitch Slam, startups are evaluated by a panel of expert judges using the G/Score, Guidewire Group’s proprietary assessment methodology for evaluating startup success and business viability. The judges at the Milan Pitch Slam were: Maria Teresa Aviles, project manager at the University Incubator of Politecnico di Milano; Evan Nisselson, founder and CEO of Digital Railroad; and Matteo Rizzi, innovation leader at SWIFT.

The G/Scores will be aggregated from all of the Pitch Slams, normalized across markets, stages and segments, and then ranked to determine the Innovate!100. Innovate!2010 partners with market leaders like Best Buy, HP, Microsoft, Motorola, O2, RIM, Oracle and SWIFT and serves as a platform for these corporations to quickly identify and partner with high-potential startups.

Congratulations to all of the startups that were invited to present in Milan:

DriveK: Car configuration platform designed to change the way people select, configure, compare and buy their new car.

GET Corporation: Geo-location service to help customers find the nearest taxi driver.

Intelligrate: Application to detect anomalies in user behavior during online banking transactions to prevent fraud.

LiquidWeb: Creator of WiTube, an interactive lamp delivers Web content like podcasts and news through a wireless Internet connection.

LM: Monetization tool for code and content owners to get paid wherever their work appears on the open web.

Noesis: Revenue optimization platform with automatic real-time learning and adapting capabilities.

Pantea: Provides pre-integrated tools that allow customers to build tailored mobile media marketing, mobile media and social media solutions.

Pervactive: Developer of a new genre of Massive Multiplayer Online Games (MMOGs) that uses a proprietary, patented MMPGTech engine to allow users to play the same game on a PC and on a mobile device.

Sentimetrix: Technology framework to measure sentiments or opinions expressed in electronic media, such as news, blogs or newsgroups.

Spreaker: Social web radio: a platform for creating and broadcasting audio content over the Internet.

Threeplicate: Simplifies and automates the software UI localization process by integrating with existing tools already in use at software development firms.

TheStartup.eu has partnered with Innovate!2010 to bring you an exciting opportunity and we want to invite you to get involved.

On Monday, April 19^th, at 10am you are invited to participate in the Innovate!2010 Pitch Slam Milan being held at Assolombarda (via Chiaravalle 8 ) for free.

Innovate!2010 is a global competition to identify top technology, media and communications startups from around the world, based on the G/Score assessment methodology. It is designed for companies that have already been established and have a working alpha. Upon successful application, Innovate!100 semi-finalists are invited to participate in the local Pitch Slam to compete to become one of the Innovate!100 and benefit from a year’s worth of global visibility, validation from global investors and partners, and a share of awards valued over $1 million.

You can see what an Innovate! Pitch Slam is like by checking out the videos from prior Pitch Slams in Amsterdam, Dublin, Madrid, Zaragoza, London, Helsinki, Berlin, Barcelona and Tel Aviv (http://www.innovate100.com/blog). The companies confirmed to pitch in Milan include:

• BASE16
• Caja Fuerte Virtual
• Threeplicate
• GET Corporation
• LM
• Noesis:
• Pantea
• SentiMetrix

Local entrepreneurs, investors, journalists and technology executives are invited to attend to have breakfast, support their favorite startup and network for FREE, but register here (http://bit.ly/innovatestartupeu)  right away because spaces are limited.

Innovate! is a great program that will deliver up and coming start-ups global exposure for up to a year, validation from potential investors and partners, and potentially a share of over $1M in prizes, so we encourage you to get involved right away.

This is a post I recently wrote for TechCrunch Europe. They did some major editing on it.

Rome-based iWikiPhone, a social network for iPhone users where they can discover, share and discuss the best apps, has closed a €250k round of funding. The money comes from a number of private investors and also from Egolab, a Rome based company specializing in online media. Egolab has provided 100k of funding by way of services and a cash investment in return for 20% equity in the company.
With 100,000 apps available from the iPhone App store, finding the good ones is becoming increasingly difficult. iWikiPhone’s answer is that the best way to discover the most interesting and relevant apps for Apple’s smartphone is through recommendations from friends and from knowing which apps your friends are actually using.
The most interesting part, however, is that they also plan to crowdsource ideas for new iPhone apps from the iWikiPhone community. Users will be able to suggest apps and make money. The “idea owner” will be paid $500 and a share of revenue generated through selling the app in the iPhone App Store, which of course is how iWikiPhone plans to make money too.

Luca Di Persio, one of the founding partners of Egolab, was immediately enticed by the concept: “…among the most important things that characterizes today’s online environment is collaboration, and with that, the ability to overcome traditional barriers of communication by bringing together those who have the ideas and those who can execute these ideas”, says Di Persio.

iWikiPhone was founded in June this year by the former CTO of start-up dooyoo.com, Luca Di Cesare, 40. Since leaving Dooyoo, Luca has worked as a DoubleClick consultant at Google, and after reading Wikinomics he was inspired to launch iWikiPhone.

I’ve embedded a video below that explains how the service works.

I am very pleased to announce that all our efforts in creating a tech scene in Rome and more generally in Italy are coming through. On Monday, November 23rd we will be hosting our first event, in collaboration with a few roman startups: Publisoftweb, Ibrii, Frestyl and other cool geeks.

UpStartRoma will be a monthly meetup for the italian tech and startup scene. Our fist meeting will be held in Publisoftweb’s offices (thank you) and will feature quite a few pitches and keynotes.

What we aim to do is recreate the London-like ecosystem in Rome. There are a lot of great people, great startups, investors and bloggers but nobody knows each other very well. We hope to help everyone in finding new business contacts, mentors, investors and more generally very cool dudes to hang out with.

We can’t wait to be  able to do this in other cities, but for that we would need your help. Please contact us if you’d like our help with the organization of something similar in your city.

We must say, we got a good inspiration from the first Startup Night, that was held in Milan in September. And, by the way, they are hosting a second one, on Tuesday 24th.

If you’re around Rome this is a must-attend event, see you on November 23rd, 19:00 c/o Publisoftweb, Via Gallonio 6, Rome

I forgot to say that beer and pizza are on us!

Note: This is a post I wrote on TechCrunch Europe a few days ago.

Online password management startup Passpack, recently announced it’s follow-on funding. The company raised €350,000 in June 2008 and now previous investor Zernike Meta Ventures is topping that with additional €74,000.

This new capital injection will enable the company to finish the development of their product and start to actively market it. There is a great blog post about this new round in wich they explain what the funds will be used for. +1 for transparency.

The Rome-based company is not looking for venture capital until it hits profitability. Apparently, the new round was determined by reaching a major milestone in development and user-base.

The founders, an italo-american couple: Tara Kelly and Francesco Sullo that I recently met with in the attempt to create a roman startup community, stated that their revenue from premium packages is growing at a 2 digit percentage each month.

While this is great news for the italian startup ecosystem, it still raises many questions and doubts. €74,000, really? Let’s analyze the situation: Passpack has a working and cheap product, revenue growing every month, a committed team raising it like a child, great international press coverage and recently launched a desktop version to take on its competitors.Even thought the company is not looking for VC money right now, I still think it deserves some faith from investors.

If Passpack raises this modest amount what can other italian seed-stage startups aim for?