presentation: COSTAS SISAMOS, B.Eng, M.Sc. Mechanical Engineering, B.A. Education Science

TIMELINE…

•2004, founded ENGINO.NET LTD(received funding from ΙΠΕ & Business Incubator scheme by Ministry of Industry)

•2007, launch of first ENGINO sets after 3 years of R&D

•2012, move production from China to Cyprus

TIMELINE…•2019, Invest to build our own factory in Cyprus!

THE INITIAL PROBLEM! SOLUTION?A constructional system with robotic modules to inspire the inventors of tomorrow!

Teach Engineering technology by hands-on building!

S T E M

Retail Packages:More parts:

Models: Instruction Manuals:

3 years of Research & Development

GLOBAL TOY MARKETA MARKET > 80 BILLION USD!

Many international and local awards:

3rd place in the 2005 CyEC Cyprus Entrepreneurship Competition

10 BEST ACTIVE TOY FOR 2006 (Dr. Toy in the US)

10 BEST EDUCATIONAL TOY FOR 2007 (Dr. Toy in the US)

100 BEST CHILDREN’S PRODUCT FOR 2007 (Dr. Toy in the US)

100 BEST CHILDREN’S PRODUCT FOR 2006,7,8 (Dr. Toy in the US)

10 BEST ACTIVE TOY FOR 2008 (Dr. Toy in the US)

AMONG THE BEST 33 YOUNG ENTREPRENEURS IN E.U. 2008

BEST PRACTICE ENTERPRISE OF CYPRUS 2008

2008 CYPRUS INNOVATION AWARD (ΟΕΒ)

BEST VACATION TOY FOR 2009 (Dr. Toy in the US)

2009 MARKET SUCCESS AWARD by CyEC

Nominated as Man of the Year 2009

Nominated as Best Product of the Year 2009 & 2010 by InBusiness magazine

MOST INNOVATIVE TOY (TOY RUSSIA 2010)

BEST GREEN PRODUCT FOR 2011 (Dr. Toy in the US)

BEST CREATIVE FUN TOY FOR 2013 (Tillywig Award in the US)

MAJOR ACHIEVEMENTS

CY2490, CY2532, PCT/CY2004/000005, US11/307,229, PCT/CY2007/000001, 17 Registered Community Designs 000675061-0001 to 17

•NOW EXPORT TO MORE THAN 40 COUNTRIES

•Average Sales growth of more than 40% every year since 2015

•PATENTS AND INDUSTRIAL DESIGNS

MAJOR ACHIEVEMENTS

•Acquiring key customers world-wide

NEW INVESTMENTS!

To cope with growth a loan from RCB through EIB was taken to finance:

•The building of a new larger factory of around 4000 square meters

•The purchase of machines and injection molds to double the production capacity

These investments will help lower the cost and become morecompetitive while also shorten production lead-timesassuring our premium quality

Without this investment our growth would be hindered, and we would probably loose opportunities to support the new bigger customers.

Other departments such as R&D and SALES would be impacted also as recourses

would be spent to gradually purchase required machines from profits

ABOUT THE LOAN!

We learned from the news and media that EIB would help finance investments in the Industry but we did not know how to learn more

Even so, we were reluctant to anyway get a loan knowing the very tough terms our Cyprus banks were asking, until we were approached by the RCB executives who explained us in more detail about the EIB program and made us feel more secure and confident.

Even though at the time RCB was not our bank, their approach was quite Unique, which not only helped speed up the entire process but also allowed us to work with viable terms.

Also, the fact that to be eligible we would need to hire personnel under the age of 27 was a big + for us as due to our growth we were hiring young people almost every week!

ABOUT THE LOAN!

The main reason to take this loan was the very low interest rate that made the entire investment viable

Also the fact that we could have a fixed interest for 10 years was securing the big risk of a fluctuating and uncertain global and local economy.

Another major factor to take this loan was that the securities asked were not at the extreme level that we were so far accustomed by our banks.

I believe without these EIB loans the economy in Cyprus after the crash of 2013 would be very difficult to grow. Big companies -but also smaller SMEs such as ENGINO- got the chance to chase theirvision and become global players.

The RCB support to make these loans available to us with minimal bureaucracy has been catalytic to the fast implementation of our growth strategies.