Hundreds of startup companies are being established in Israel each year and, while they operate in different fields, the entrepreneurs' record usually contains two items in common - military service in an IDF technological unit and relevant academic education.
Such 'classic' entrepreneurs have significant technological knowhow, while the field of venture capital also attracts investors with substantial financial means and potentially worthwhile ideas, who do not necessarily know how to code but still dream of making an exit. One company which provides a solution for such investors is the startup Appollo Technologies established two years ago and currently run by the CEO Keren Maimon (22), Yariv Mozes Borovits (22), Yoni Weizenberg (24) and Etay Huminer (24).
At 18, Maimon already founded a real estate startup. "When I started this project," she told "Globes", "I searched the market for software companies. I discovered that there was no sufficiently adequate, reliable and effective solutions for entrepreneurs who are not originally from this field. After selling the startup we started receiving numerous requests - to develop applications and technological systems for outside people. Over time, we understood that this is what we want to offer as a company. As a result, we established Appollo two years ago. In fact, we build startup companies from the concept level to product market launch."
We undergo a four-stage process with the entrepreneurs, which includes product and user experience characterization, technological development and market penetration. In exchange for these services, we receive shares in the company, leading to a win-win situation in which we become partners for the road ahead. To date, we are partners in 12 companies, owning 10-25% percent of each enterprise."
Maimon said that "most companies we cooperate with have raised funds, some did it before coming to us and some did it with our help."
How do you help an entrepreneur with a idea?
"We basically build the company with him, hire staff and stay alongside the entire way. We are a combination of a fund and an incubator - which helps entrepreneurs and startup companies."
The Appollo group have been involved, inter alia, in the BeenThere social network, which has received an investment from the French real estate businessman Yaakov Gorsd. It has also provided services to CallApps, which develops a distress button, funded by the diamond trader Alon Arabov. In addition, Appollo's portfolio includes the fashion-oriented social network Jureez. Yarom Oren, former FIMI fund and Delek Real Estate senior executive invests in the company.
Appollo has 25 employees and currently is currently hiring. They hope to double their revenue during the next year.
Published by Globes [online], Israel business news - www.globes-online.com - on July 6, 2016
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