Nektarios Liolios

I think we have sort of

We're close to reaching peak fintech when it comes to the hype.

And little by little, entrepreneurs are figuring out that the insurance space is potentially more lucrative.

It's less crowded.

There's so many problems to solve.

They're waking up to this.

But we know that when we go out to attract entrepreneurs to come into the program,

We have a different approach when we talk to the InsurTech people.

We actually try to get them to understand that they are relevant for the industry because they usually see themselves as, I don't know, big data startups or AI companies, but never self-identify as InsurTech.

We create for every program, for every location, we create a sort of mini fund type structure.

But some of the organizations come in as sponsors, pure sponsorship money.

No, not at all.

From that perspective, it's not a fund at all.

So we really, so we need a minimum amount of cash to run the program.

How much?

About a million US a year.

And that really is just to keep the lights on and deliver a quality program.

Anything we raise beyond that is upside for us.

But as I said, in most programs, we don't really do that.

So every location has about five people.