Listening to those who know more has always been a quick way to learn. It is impossible to get to Barcelona to try to know the Startups ecosystem andnot to find his name. I see several videos on YouTube and in 24 hours I will receive his book “The main mistakes of entrepreneurs” hoping not to give positive in all of them. I especially like his TED talk where he shares how he started being an entrepreneur before 15. A question runs through my mind. Is an entrepreneur born, or made?
Carlos Blanco is one of the best known figures of the Spanish entrepreneurial ecosystem. Born entrepreneur and investor, he is founder of Nuclio Venture Builder and Conector Startup Accelerator. Since 2005, he has invested more than 2 million euros in 85 startups and, weekly, receives a total of 30 projects.
How does he do it?
He has a clear processes, he is constantly observing and analyzing the market specially United States, Israel, England and Germany. He knows what is working in certain sectors, especially those with traditional business models with a broad market in which technology has a lot to grow. He makes decisions, from every 100 opportunities he invests in one , at the same time he has a constant and parallel process of talent analysis and selection. A perfect combination of the experience, the opportunity and the team.
We want to know how he recognizes the talent or profiles needed to create winning StartUps, as well as increase the participation of women in this ecosystem.
How are entrepreneurial skills detected?
I recommend that each one do a self-analysis because these skills are fundamental. If you are able to receive support, if you know how to create a team, if you can convince others, you have the capacity to be an entrepreneur. You know how to convince people to follow you. Even people who is able to leave their jobs to follow you. 80% of successful entrepreneurs set up illegal businesses before they were 10 years old. 80% of the entrepreneurs were the ones organizing the holidays, parties, events.
An entrepreneur is a leader. It is someone more extroverted than introverted. A person that is heard. A person that speaks clear and direct and has the ability to be surround by talented people. An entrepreneur is someone that convince and has confidence. You need confidence to convince your partner, customers, team, investors. In general, it is someone reliable who know how to sell and talk. One of the first filters is LinkedIn, a person with recommendations that has experience in an interesting sector.
What are investors looking for?
StartUps on sectors dominated by traditional models that are susceptible to technological changes. StartUps that sells, offers benefits and that can be scaled in short term. Take for example in the real estate sector Idealista, Travel Airbnb, transport Uber, etc. The professional investor, the good investor has a lot to choose from because diversification is key to success. Companies looking for a monthly sales growth of 20%. Also “The momentum” of the product/service/customer willing to pay it is a multiplying factor that makes the investment possible. If you invest in 10 companies, you are expecting 4 of them multiply the investment. One of them by 8 or 10, and the other 3 companies by 3 or 4.
There is a lot of money in the market and good entrepreneurs. We need to find ways to bring together investor and the entrepreneurs via events, incubators, accelerators, companies or specialized professionals.
What are the “Nuclio Weekends”?
There are two annual events where we select talent from more than 4,000 participants. It’s a great job at the Human Resources level. We place them in groups of 7 or 8 and analyze the different profiles and leadership capacity. It is an experience that is always satisfactory for the participant. A good form of self-knowledge and the beginning of a new professional challenge for others.
How is the participation of women in the “Nuclio Weekends”?
About 10% I have invested in 15 companies led by women. We look for risk capacity, perseverance and emotional intelligence. In general, women are more loyal, conservative and have more emotional intelligence. We have very clear examples such as Carlota Pi from Holaluz, Eva Martín from Tiendeo among others.
We would increase the number by increasing the number of technical profiles and engineering. Favoring the conciliation or finding a balance because these positions require a Full time dedication. At a general level we need to encourage teamwork in teaching and move from individualist to collaborative profiles from schools.
Now that you have got the advise from Carlos think if you have already detected a need in the market, maybe you have seen it in another country or just want to improve an specific process of your competitors.
If you have the idea of a business for a long time in your head, you have the experience in the sector and you want to give yourself the opportunity to face the challenge, sign up for Nuclio’s Weekend and finally, “test yourself”.