Two seasoned entrepreneurs, Kostas Fetfatsidis and Dimitrios Kourtesis, have launched The Flywheel, a new venture studio based in Thessaloniki, Greece. The firm aims to co-found and invest in early-stage startups poised to become Europe's next industrial AI champions. Its focus targets critical sectors including manufacturing, supply chain, defense, and energy, providing a new pathway for technical experts to build impactful companies.
A New Model for Venture Creation
Unlike traditional venture capital funds that invest in existing companies, The Flywheel adopts a hands-on, co-founding model. The studio partners with founders from the very beginning, helping to shape ideas and build ventures from the ground up. This approach provides deep operational support alongside an initial investment of up to €300,000 per company, de-risking the earliest stages of company creation.
Addressing Europe's Industrial Imperative
The Flywheel's launch comes at a critical time as European nations seek to rebuild their industrial backbone and enhance strategic autonomy. The studio directly addresses this need by focusing on sectors vital for future prosperity and security. Its mission is to leverage technology to strengthen Europe's capacity in advanced manufacturing, energy systems, and defense technologies.
Artificial intelligence is positioned as the core enabler in this mission, acting as a force multiplier for innovation. By integrating advanced AI, The Flywheel believes small, focused teams can solve complex industrial problems more efficiently. This strategy aims to wire Europe's deep engineering strengths and world-class research directly into its economic core, fostering a new wave of industrial champions.
Bridging the Talent and Capital Chasm
Co-founder Kostas Fetfatsidis highlighted a significant challenge in the European ecosystem: a chasm between world-class technical talent and early-stage risk capital. “The Flywheel venture studio is designed to bridge that chasm,” he said, creating a clear pathway for industry experts to launch their own companies. It provides the necessary resources and support when uncertainty is at its highest.
To attract this talent, the studio is now recruiting for five paid Founder-in-Residence (FiR) positions for its first cohort in Q1 2026. This program offers professionals with deep industry or technical knowledge a structured opportunity to explore and develop a venture concept. Successful residents will receive funding and a co-founding partnership to launch their new enterprise, turning expertise into equity.
Building Compounding Momentum
The firm's name reflects its strategy of creating compounding momentum, much like a flywheel that stores and releases energy. By being highly selective and building only two companies per year, the studio ensures deep, hands-on involvement with each venture. This focused approach allows for the accumulation of knowledge, networks, and playbooks that benefit all future startups within its ecosystem.
Dimitrios Kourtesis added that by acting as a co-founder, the studio is building an “on-ramp for Europe’s best engineers, operators and researchers.” The goal is to empower this talent to build the next generation of industrial AI leaders. The Flywheel is backed by a diverse group of private investors, including US-based entrepreneurs, experienced tech founders, and European industrial enterprises.
The establishment of The Flywheel marks a strategic new entry into Europe's venture landscape, tailored to the continent's industrial ambitions. By combining a hands-on co-founding model with a sharp focus on industrial AI, the studio offers a compelling proposition for a new generation of founders. Its success could play a vital role in fostering innovation and securing Europe's competitive edge in critical global industries.