BoatSpace: Revolutionizing Global Berth Reservations
Interview with Founders Nick Linos and George Katifes
The yachting world is on the brink of a revolution, and at the forefront is BoatSpace, a modern platform designed to streamline the often time-consuming process of securing berths for leisure boats. This Athens-based startup, founded in December 2023 by two passionate, young entrepreneurs, Nick Linos and George Katifes, has already garnered interest in Greece and internationally. In this interview, the founders discuss their inspiration, the challenges they faced, and the future of BoatSpace.
The Birth of BoatSpace
The idea for BoatSpace began when Nick Linos — a student of International Business at the American College of Greece — and George Katifes — a computer science student at the University of Piraeus — visited the International Boat Show. There, they realized how complex and inefficient the process of booking marina berths had become for boat owners.
Getting a berth means loads of phone calls and emails,” says Nick. “There was a niche there where we could create this process, more or less, as easy as booking a hotel room online.”
This need for a digital solution led to the creation of BoatSpace. This platform allows boat owners to book marina berths in real-time, eliminating the lengthy communication process traditionally required.
Overcoming Initial Challenges
Starting a business is never easy, and one of the biggest hurdles faced by the founders was selling the idea to marinas on the benefit BoatSpace would bring. “It was difficult to communicate the benefits of our idea,” George admits. “We had to show them that the use of our platform was not going to simply streamline operations but add real value and more importantly, increase their profitability.”
Many marinas were hesitant to move away from traditional methods and adopt new technologies. “One of the biggest challenges was explaining to marinas how digitizing their booking systems could not only save them time but also increase their revenue,” says Nikolaos. “We had to convince them that real-time bookings would reduce vacancies and give them a competitive edge.”
Through countless presentations and meetings with the marinas, the team was able to prove that BoatSpace not only offered a streamlined, cost-effective solution that could bring in more customers but could also boost marina profits. They faced scepticism initially, but persistence, clear communication, and proof of the platform’s potential value ultimately helped them break through.
Setting Themselves Apart from the Competition
BoatSpace has a unique competitive advantage in the market. “Our competitors’ platforms simply send booking requests to marinas without offering real-time availability.,” George explains. “What sets BoatSpace apart is that we offer instant updates on available berths, combined with secure payment processing, similar to booking a hotel room.”
This real-time functionality, combined with a user-friendly interface and seamless transactions, gives BoatSpace an edge in a market that has lagged in digital transformation. By automating the process, BoatSpace eliminates the need for lengthy phone calls or email exchanges, giving boat owners more control over their schedules and marinas a smoother, more efficient way to manage reservations.
The First Major Partnership and Next Steps
After months of development, BoatSpace secured its first major partnership with the Union of Greek Ports, which includes the 30 largest ports in Greece. The MVP is set to launch in November, with plans for expansion into more than five additional marinas by the end of the year. The platform also offers marina owners a comprehensive dashboard to manage bookings and track key performance metrics.
The ability to track real-time data and view important statistics helps marinas optimize their operations and ensure higher occupancy rates. For boat owners, the ease of use and transparency in pricing and availability make the process far simpler and more efficient.
Financial Outlook and Market Opportunities
The global marina market was valued at $20 billion in 2023 and is expected to grow to $25 billion by 2028. According to research by Dianeosis, Greek marinas alone have the potential to generate $2.8 billion in revenue in the coming years. BoatSpace aims to capitalize on this lucrative market by providing a technologically advanced solution in an industry that has been slow to adopt digitalization.
The timing of BoatSpace’s entry into the market couldn’t be better. As the demand for leisure boating grows and more yacht owners seek simpler solutions for securing berths, the need for a platform like BoatSpace becomes increasingly apparent. With a scalable business model and developing partnerships, BoatSpace is poised to become a significant player in this sector. As Nick explains, BoatSpace’s business model is commissioned based with booking fees.
Strong Attraction from the Middle East
BoatSpace has also drawn significant interest from the Middle East, particularly from Yas Marina in Abu Dhabi and the Old Port of Doha, following the founders’ visit to the Dubai International Boat Show. The company plans to expand its platform globally, targeting key markets such as Dubai, Monaco, and the French Riviera, where the founders conducted market research.
“We’re looking to establish strong partnerships internationally,” says George. “The need for a real-time, streamlined booking process is a global issue, not just a local one. We believe that by targeting these key markets, we can offer a solution that benefits both marinas and boat owners.”
Funding and Growth
Currently self-funded, the founders are exploring the possibility of a funding round shortly to further develop the platform’s technology and enhance their market presence. With a revenue model based on commissions from marina bookings, BoatSpace is well-positioned for sustainable growth.
George mentioned that they have attracted interest from Venture Capital firms and Angel Investors worldwide.
In addition to expanding their technological capabilities, the founders are looking to hire new talent to help support the rapid growth they expect in the coming years. “We want to bring on people who are as passionate about the maritime industry as we are,” says Nick. “Our goal is to build a team that shares our vision of transforming this space.”
Revolutionizing Yachting with a Smart Berth Reservation Ecosystem
BoatSpace is poised to revolutionize the yachting industry by providing a reliable, real-time platform for leisure boat berth reservations. Embracing the digital age and envisioning “smart marinas” of the future, BoatSpace aims to significantly boost tourism and the economy both in Greece and worldwide.
“We believe we can grow and evolve the yachting industry on a global level,” says Nick. “With our innovative approach, we are not just creating a product — we are creating an ecosystem that benefits marinas and boat owners alike.”
My perspective on BoatSpace
With its forward-thinking vision, strategic partnerships, and innovation, BoatSpace is on the path to becoming a major player in the global marina reservation market.
During my conversation with Nick and George, I was struck by their intelligence and entrepreneurial drive. Their passion for success is truly remarkable, and they should serve as an inspiration to all young people aspiring to start their businesses. I do not doubt that they will put in the hard work needed to excel in their field. As Warren Buffett wisely said, “Invest in people, not businesses,” and these two embody that principle perfectly.
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