The economics of Startup Weekend Thessaloniki
This post originally appeared on blog.up.co
An event about entrepreneurship where anyone can present ideas, network and learn from creative peers! This is what we had in our minds before setting up Startup Weekend Thessaloniki.
Long story short, running this kind of events requires a budget, right? Trying to bring SWThess to life we had to create our projections and calculate how much we'll need to make it happen. So.. 54 attendees for a full house, 10 mentors, team, and volunteers. This is more than 80 people, it's going to be kind of hard. Our cost per attendee is €35/person and the ticket price cannot be that high. So, let's go...
Then we had to project our expenses. We need a global facilitator - this was Katerina - to run the event, feed all those 84 people but ok they are not going to stay all day long so let's cap it to 70-75, and print what we need from participation cards to business model canvases. So here are the projected expenses:
And here is our initial projection regarding tickets
|Ticket Type||Price||Units||Full house income|
So we'd started the execution of the event having in mind that we'll have a loss of €570; however, thanks to each and everyone involved this is what finally happened:
- Total attendees: 47
- Mean age: 27,2 (Younger: 18, Older: 54)
- Diversity ratio: 75(M)/25(F)
- Ideas pitched: 14
- Teams formed: 9
- In-kind Sponsors: 19
- Cash sponsors: 1
|Thess Gala sponsorship||€200|
But what's the deal with Techstars? They help us run the event and get 50% of the revenue. That's clear from the beginning and in our case this means ~€100 for Techstars. Thus, what's in the cash desk right now? ~€100! We'll be using this amount to make SWThess happen once again, but when? Ehhm I'd say this October the 19th (Shhhh! We'll need some more time for the official announcements)
Ah! I forgot GeekBot's sponsorship. This is a real connected community case and I love it! As you could recall, last day of ticket sales prices went -50% because of a GeekBot offer. The deal was like this "Startup Weekend decreases ticket prices by 50% and if there is any loss by the event closure, GeekBot pays the difference cash". No loss at all, GeekBot just owes coach Sakis for a while as we'll need to fix some designs for the upcoming SWThess :)
Wrapping it up, we are a team of volunteers that offer personal time and energy to make this event happen. We'd like to thank every and each sponsor that contributed, we love you all ❤. We still have no budget apart from those €100 but we promise that we'll be doing SWThess happen again and again!
We'll see you in October,
PS: In this PS I would like to greet people that were like "Of course, Startup Weekend! Let's do it, we are sponsoring etc" and never responded to my calls, emails, and follow-ups. Hello guys! Next weekend we'll be October the 19th, this is enough time to run processes and get in the loop, isn't it? ;)