The company specializing in e-commerce software and the creation of virtual stores has just joined the Paris region gas pedal for three years. Here's a look back at a selection process that went off without a hitch.
The start-up joined the Wilco gas pedal (formerly known as Scientipôle) last October. How did the start-up pass the selection stages and convince a jury of experts and renowned entrepreneurs? An update from Julien Berthomier, co-founder of DIAKSE in 2015.
Two months of selection
In April 2016, Julien Berthomier and his associates submitted an application in the “Retail” category. Wilco in fact comprises five channels (BtoC, digital transformation, Retail/leisure, factory of the future, health/silver economy...) to which one can apply depending on one's activity. The start-up ticked all the boxes: head office and workforce in the Paris region, innovation based on a techno foundation, created less than three years ago but with a solid proof of concept. The application passed the first filter.
Barely a week later, the founders were invited to present their concept to the Wilco business manager, who invited them to pitch to a panel of experts and entrepreneurs. “A week later, we learned that we'd been accepted into the program, which includes themed workshops and several days of individual coaching,” explains Julien Berthomier. "It's an à la carte approach, structured and focused on generating business! The aim here is not to raise funds to compensate for sluggish sales! On the whole, less than 20% of the dossiers submitted to Wilco are successful.
Keys to success
According to Julien, three factors were decisive in convincing Wilco. Firstly, the team of founders was highly complementary and experienced. Secondly, he was reassured by the fact that other support structures had placed their trust in him. The start-up is still part of the Paris 1 Co incubator; in 2016, it took part in the HEC Challenge+ acceleration program, and at the beginning of the year joined the City of Paris incubator, based at Le Cargo.
The innovative nature of the service also appealed. Advitam is the only software solution to offer both a hyper-realistic virtual store creation tool and a web-accessible virtual reality solution.Finally, the team was able to demonstrate convincing key performance indicators, including strong sales growth over several months. Proof that the concept is catching on.
60,000 euros honorary loan
Once in the program, the start-up applied for an honorary loan. Commercial seed financing” is one of the key components of the Ile-de-France region's scheme. It can amount to up to 120,000 euros. But it's not automatic. All those who apply are once again under the microscope. In early July, DIAKSE presented its financial business plan to a selection committee. A comprehensive document prepared with one of Wilco's mentors, Julie D'Isanto, who has a thorough understanding of the issues and challenges in this sector. An expertise that paid off. "On the very same day, we learned that we had been granted an interest-free loan of 60,000 euros. The start-up will use the money to recruit new staff and continue its sales drive aimed at major decorating and luxury goods groups.
