The time has come, Go West!
In the context of the recession in the United States, an argument is being made that the American mentality is gradually abandoning industry and becoming more service orientated. While this may or may not be true, the need to create jobs is increasingly highlighted and the spot shines more and more on a critical part of this equation: the immigrant.
An article from The Economist points out what many in entrepreneurship already know, that immigrants tend to be more innovative and quicker to commercialize products than natives. Take the case of Silicon Valley, where 50% of firm founders are foreign born, in many ways they are the job creators more than job takers. This is not a topic that is under the radar in the SF Bay Area. Many thought leaders are calling for more standardization of this process, insighting the tangible and intangible benefits that immigrants bring to the area.
The Spanish startup enters Silicon Valley at a time when these forces are coming to a head. The tech sector realizes the importance of new ideas brought from all over the world and the opportuntities that the ecosystem provides are second to none. Not only that, but other Spanish startups have already been moving to the area, and projects like the Spain Tech Center have recently received first participants. We look forward to the future of Spanish innovation and entrepreneurship and know this is a game for the biggest leagues. The time has come, Go West!
Mad Video & Red Karaoke, the first companies to join Spain Tech Center
This week, the Spain Tech Center welcomed the first Spanish companies to this new project in San Francisco. Mad Video and Red Karaoke have that honor, participating in this project which is sponsored by Fundación Banesto, ICEX and Red.es. They are the first of what will be a number of startups to build their presence these coming months. The center is currently accepting applications until August 19.
Click on the screenshot above to see a demo
Mad Video, a US spinoff of parent company Mad Pixel, will be building traction with their interactive video platform. This is a tool that will allow viewers of online video with a way to “rollover” video with their mouse to get more information on given items. Imagine watching an interview and being able to point to a specific person to get their latest tweets and LinkedIn profile, or watching an episode of a TV series, and finding out what articles of clothing a character is wearing, how much they are, and where you can make a purchase. Please click on the screenshot on the right for a demo.
The CEO, Koldo Garcia, is certain that this platform will bring new interactivity to the medium and Mad Video has plans to make it available for users who are generating their own content, as well as media companies.
Red Karaoke is the leading social network for aficionados of karaoke, providing materials and community for content generation. Their platform now features over 450,000 songs. Founded by Miguel Ángel and Richard Díez Ferreira, the company has been very successful in Europe and Japan, and now will us the Spain Tech Center to gain leverage in the US.
Its a great moment for Spanish entrepreneurship, and there are more resources than ever before for those startups and companies interested in the US market. Stay tuned for more information on companies joining the Spain Tech Center (also on Facebook and Twitter).
TweetMeetup for GBT June
Summer nights in Madrid are too nice to ignore. And so it wasn’t that hard to convince participants in the last Global Business Trip of this past month to meet up at Plaza Santa Ana on a Thursday night. See the pictures on our Facebook Page.
It is a month after the last trip, and these new ideas and takeaways are now more materialized. A number of the companies have certain plans to open a presence in San Francisco in the coming months. All were impressed by the accessibility of the people and network there. Among the more common takeaways was the increased motivation to execute on products or new ideas more quickly, regardless of whether or not plans included international expansion
Outside of future consideration for their companies, there was also quite a bit of talk about the engineering market for programmers and tech profiles; and the challenge of finding good people in this area especially considering their perceived value in Spain. For example, the difference between Spain and Israel is quite striking (a comment was made that salaries for recent graduates in computer engineering in Israel can expect salaries that are over 300% higher).
We have seen with Jovenes con Futuro that much Spanish technical talent exists and is hungry. The trick of finding the right people? In Spain, Israel, and Silicon Valley, this is a challenge all entrepreneurs face regardless of geography or culture.
TweetDedicado a mi equipo de StepOne
Me gustan los puentes. Unen dos puntos separados. Facilitan cosas. Conectan personas.
Siempre he visto a StepOne como un puente. Hace dos años, Silicon Valley estaba más lejos de España que ahora y nuestras empresas no tenían la seguridad y los conocimientos suficientes para embarcarse en el difícil camino que supone entrar en una de las zonas más competitivas del mundo. Durante mucho tiempo hemos luchado por cambiar esta mentalidad y quitarnos los complejos que nos impedían vernos globales y creer en nuestro propio potencial.
Desde StepOne hemos avanzado mucho estos dos años: más de 120 empresas han tenido su primer contacto con Silicon Valley y 12 de ellas están ya establecidas allí, cientos de estudiantes han completado su formación en California con nosotros, hemos lanzado Jóvenes con Futuro, el programa de fomento del talento técnico más ambicioso de España y hemos comenzado a gestionar SpainTechCenter, la primera incubadora para PYMES españolas en San Francisco.
Hemos dado un paso de gigante. Hemos creado un puente. Pero esto es sólo el principio. Ahora toca consolidar las expectativas creadas y ayudar a que nuestros emprendedores ocupen el lugar que les corresponde en el mundo. Toca también una nueva etapa en StepOne con un nuevo equipo gestor que lo haga crecer como se merece, y estoy segura de que así será.
Muchas gracias a nuestros partners, a nuestros clientes, a nuestros socios y a nuestros competidores, porque sin ellos no hubiéramos llegado ni a la mitad del camino recorrido. Todo suma, incluídos los golpes. Pero, por encima de todo, muchas gracias al extraordinario equipo de StepOne. Gracias a Cécile, Beto, Riley, José Luis y Gonzalo. Gracias a José Luis Moreno, Santiago y Ricardo. Gracias a Bernardo. Vosotros habéis creado el puente.
Hemos trabajado muy duro, hemos sufrido, hemos perdido, hemos llorado y nos hemos arruinado. Pero, por algún motivo, nunca dejamos de creer en lo que hacíamos. Y nuestra intuición no nos ha fallado. Os dejo un trabajo hecho con todo mi cariño y mi esfuerzo, os dejo un pedazo de mi alma. Ojalá lo disfrutéis y os divirtáis tanto como lo he hecho yo.
Mucha suerte. Yo os seguiré de cerca viendo cómo seguís abriendo camino. Todavía no somos conscientes, pero creo que estamos haciendo historia.
Sois brillantes, no lo olvidéis nunca. Algo grande va a salir de aquí, me lo vuelve a decir mi intuición.
Gracias. De corazón.
María
TweetA Before and After for the Spanish Entrepreneurial Community
Today marks an historic day for Spanish entrepreneurship. The Spanish Ministry of Industry, in association with ICEX, Red.es and Fundación Banesto, announced today the launch of Spain Tech Center in San Francisco, an initiative that will be managed by StepOne and Barrabes in San Francisco.
Spain Tech Center is a business accelerator, the objective of which will be to improve the Spanish entrepreneurial competitiveness and innovative capacity through an exchange with Silicon Valley, promoting the “Think Global, Execute Fast” mentality and culture that the area is known for.
StepOne is pleased to be involved in this project – the first footprint of a Spanish public institution in Silicon Valley. This project takes Spanish entrepreneurship a step further, and in the moment when the the country’s sector is beginning to shine. In the past 18 months, over 150 companies have participated in the Global Business Trips that have been spearheaded by StepOne, Barrabes and Fundación Banesto. Many companies have already established themselves in Silicon Valley, many are looking for resources to help them. The Spain Tech Center will compliment the Spanish tech startup’s objectives in the United States, extending their reach and opening up new opportunities while accelerating their roadmap.
The Spain Tech Center (@spaintc on Twitter) will be located at RocketSpace in the SOMA area of San Francisco, a well known startup area and home to many household names. By the end of 2011, the Spain Tech Center projects to have 10 companies already installed, and 30 during the following year. Each company will be with the program for a period between six and twelve months.
Juan Junquera, Spain’s Secretary of State for Telecommunications opened up today’s presentation calling for additional channels and resources for the Spanish entrepreneur, iterating that there is an enormous amount of talent and creativity that has potential to expand internationally. Fernando Salazar, Vice President of ICEX, and Antonio Basagoiti, President of Fundación Banesto also took part in today’s proceedings. For the press release (in Spanish) please follow this link.
The Spain Tech Center is opening on July 1st, 2011, and all are welcome to find more information and how to apply on the website – http://spaintechcenter.com. This is step two for the Spanish entrepreneur, and StepOne is proud to be part of the process.
For additional pictures, please visit StepOne’s Facebook Page.
- elEconomista - Los emprendedores que quieran implantar su negocio en eeuu contarán con un centro...
- El Pais – España pone una pica en Silicon Valley
- Expansión – ICEX e Industria crean un centro para empresas tecnológicas en Silicon Valley
- Cinco Dias – Fundación Banesto, Icex e Industria abren un centro en Silicon Valley
Coffee Break with Jose Luis Moreno
Last week we introduced StepOne’s General Director, Jose Luis Moreno, and this week we wanted to highlight a recent chat he gave at Coffee Break with Madrid Emprende; an organization dedicated to the entrepreneurial advancement and economic development of Spain’s capital city.
Here below you can see some of the questions and answers (in Spanish) Jose Luis covered during his talk, and to see the entire talk please follow the link to the video.
¿Qué ves en Silicon Valley?
A la gente le da igual haber fracasado, se levantan y vuelven a empezar. También: networking, talento, y que allí no hay falta de capital. Os animo a buscar capital fuera. He visto más proyectos que fracasan por falta de capital que por falta de ideas.
¿Cómo tenemos que contar nuestro proyecto para que resulte interesante?
Debe presentar la idea la misma persona que la tuvo. Es esencial que arriesgues tu propio dinero. También debes hablar de tu background, saber inglés, y tener tu business plan.
¿Qué imagen tiene se tiene en Silicon Valley de España?
A pesar de las ideas tópicas, España es un país muy atractivo para los americanos. Las empresas americanas vienen menos a España porque es más complejo formar empresas aquí que allí. Pienso que deberíamos defragmentar el mercado español, que actualmente tiene diferencias entre las diferentes comunidades, pero no tanto imponiendo una legislación única como liberalizándolo.
¿Cual es el perfil de las empresas que van a Silicon Valley?
Aunque no en la totalidad de los casos, son mayoritariamente empresas tecnológicas. Se puede estar perfectamente en Madrid y en Silicon Valley a la vez, Step One lo hace.
¿De donde obtiene sus ingresos Step One?
Nuestro negocio es invertir en las empresas que van a tener éxito. No es una ciencia exacta.
¿Te establecerías en Silicon Valley?
De hecho me voy a establecer unos años allí, veo valores que aquí se están perdiendo, como esfuerzo y networking. Es necesario incluir asignaturas de emprendimiento en nuestro sistema educativo.
Para terminar, José Luis Moreno dejó escrita una frase en una de las ventanas del Vivero de Empresas de Carabanchel: “Go West”.
Meet Jose Luis Moreno
Early in 2011, Jose Luis Moreno joined the StepOne team as the Managing Director, bringing a wealth of experience and knowledge to our environment. We recently put a video together to introduce him to those who previously haven’t had the pleasure of meeting him in person (see below).
Jose Luis (@morenocasas) will be leading a number of projects both in Spain and in our San Francisco office, working for his long term goal of furthering Spanish entrepreneurship.
There have been another couple profiles added to the StepOne team these last few months and you’ll be hearing from them shortly. Stay tuned.
Video credits go to @jlwheels
TweetGestiona Radio interview with María Fanjul
Our own María Fanjul was recently interviewed by Gestiona Radio as part of their focus on entrepreneurship in their program “Lideres”.
The interview (below), which is in Spanish, refers to StepOne’s work between Spain and the US market, the entrepreneurship and investment environment in both areas, the programs StepOne is currently developing and also touches on the background behind our initiative, Jovenes con Futuro, which is launching this summer in August.
Maria can be found on Twitter at @fanjulmaria.
TweetGet the Funds and Run
StepOne, in collaboration with ParisSOMA, is looking for three Spanish startups interested in securing investment in the US to participate in the European Startup Demo Night in San Francisco on July 21.
The European Startup Demo Night is an invitation only event, that will match a select group of 10 startups with an audience of over 40 investors. Many leading angels and venture capitalists will be in attendance – among the anticipated audience: DFJ, Bessemer, Intel Capital, Accel, Trident and Google Ventures among many others. All of these investors focus on early stage venture capital and/or angel rounds.
StepOne has arranged for three Spanish startups to demo their product during this event, and would like to open up this opportunity for companies that are looking to expand in the US (or are already in the US and looking to raise money). It is unique for Silicon Valley investors to consider ventures that aren’t already established in the US and this is a chance to pitch and make an impact in the ecosystem.
In order to be considered, please fill out this form and send us a 4 minute presentation of your product and pitch by Thursday, June 2nd.
StepOne will select three candidates based on presentation, product / technology, team, and market potential. Candidates who are selected will be allowed to give a 4 minute presentation, followed by a 4 minute Q&A at the event in San Francisco.
Participating companies will be responsible for all costs during the trip.
Requirements:
- Spanish startups looking to raise an early stage round in Silicon Valley
- Roadmap that includes opening an office in the United States
- Product focus in IT, Clean Technology or Life Sciences
- Pitch video of no more than 4 minutes
Interesting submissions will be posted on our Facebook Page and finalists will be announced on Friday, June 3rd. For an idea on content for your pitch deck and video, please take a look at here and here.
If you have additional questions please reach out to us by email – info@stepone.com or on Twitter (@steponeventures).
TweetMartin Varsavsky on the move to Silicon Valley
Martin Varsavsky, founder of Jazztel, Ya.com and Fon among other companies, gave a talk last week in Madrid at IE VentureDay 2011 that touched upon many elements of European entrepreneurship and things to think about when considering a move to Silicon Valley.
Among the takeaways from his experiences working in the US, he points out that the well run European startup is a much better atmosphere for employees. Martin has founded a number of his ventures here in Madrid and also cites advantages in legal costs, medical resources, and tax benefits from remaining in Europe, even though he partners with Google (and now) Microsoft.
A unique perspective from a distinguished entrepreneur, we recommend seeing the video of his talk below for more recommendations on getting traction while operating from other parts of the world.
Indeed, he also made comments that spoke to the reception of the entrepreneur in Spain. Martin himself has received some critical feedback over the years. ”Quick money isn’t considered a good thing,” he says, and he also draws attention towards Amancio Ortega (the founder of Zara), someone he thinks “they should be naming streets after in Spain.” He goes on to say that Ortega is one of the best entrepreneurs in the world but lives in hiding. Even Martin is often asked why he exposes himself so much as an active voice in the sector.
It is clear from his talk that Martin believes very much in Spanish entrepreneurship and thinks it has a role in Spain’s future. He says that, “more entrepreneurs would mean higher salaries” but he admits that there is ground to cover. The technical profile is not a great commodity in Spain (in fact he points out that engineering salaries are 70% lower than in Silicon Valley), and the idea of personal failure and bankruptcy is institutionalized as a burden.
Spain is lucky to be the home of a number of very successful companies and entrepreneurs who are willing to share their experiences and recommendations. Martin’s message is important, “if you look hard enough, there is everything you need to build a global company”.
Martin Varsavsky at IE Venture Day from Martin Varsavsky on Vimeo.
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