Entrepreneurs launch European “venture studio”
A new European venture studio, The Flywheel, is launching to foster industrial AI startups. Founded by Kostas Fetfatsidis and Dimitrios Kourtesis, the studio aims to bridge the gap between European technical talent and the creation of scalable, sustainable companies. This initiative highlights a growing trend of focused investment in strategic technology sectors within Europe. The Flywheel, based in Thessaloniki, Greece, will co-found startups, providing operational support, co-founding partnerships, and up to €300,000 in initial investment per company. It is targeting startups in manufacturing and supply chain, defense and security, and energy and sustainability. The studio is currently recruiting for Founder-in-Residence (FiR) positions to research specific industrial AI venture concepts. This approach differs from traditional venture capital, which typically invests after a startup is established. The Flywheel's model offers earlier-stage support, which could accelerate the development of innovative solutions. Backed by private investors, including US-based entrepreneurs with European roots, the studio hopes to build the next generation of industrial AI champions.
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