La aventura de emprender y tener éxito en Silicon Valley
Launching in Silicon Valley Xavier Verdaguer Innovalley, Inc. January, 2011 @xavierverdaguer
Index• Introduction. Background• Why I decided to come to Silicon Valley?• Myths and Realities of Silicon Valley• The biggest challenges of my move• Reasons to be an entrepreneur in Silicon Valley
• Factory of innovation. Tech + Content• Founded in 1997. With 2 VC (1.5 + 7.4 MM Eur)• + 50 employees• Tech transfer agreements with 11 Universities• Ofﬁces in Barcelona, Madrid & Dubai• Clients: Deustche Bank, JCDecaux, NH Hoteles, ...
• Innovation company in smart clothing• 100% American company founded in January 2010• 4 strategic partners (Ideas + R&D + Soft + Fashion)• First round of funding• 3 product lines. Patenting• Its own e-commerce platform and B2B clients• One of the 25 top-ranked startups (Innovate2010)
Myths and Realities• Very competitive environment > Yes, but with equal opportunities for all• Very informal environment > In respect to style, but carefully planned• Substantial legal barriers > Yes, some, but salvable with good help• All is achieved through Networking > Almost everything, but it must be done properly
Networking1. Explain your project clearly and concisely2. Talk to everyone and at any place or time3. Do not be overly protective with your ideas4. Never be dismissive of anyone5. Be humble and sincere6. Be patient7. Be generous
In search of gold...• The largest concentration of investors in the world• Strategic sectors: ITech, BioTech, CleanTeach• Money is expensive at the moment• Consciously prepare a Pitch + Business Plan• Value = IQ + IP (Intelligent Quotient + Intellectual Property)• Creativity
The biggest challenges of my move• Found the company• Legalize my situation• Find a place to live/work• Hire staff• Partnership and commercial platform agreements• Fundraising
Reasons to be an entrepreneur in Silicon Valley1. Because there are plenty of opportunities2. Because there is a Positive Mental Attitude3. Because there is so much to learn4. Because it’s fun5. Why not?