Marco Polo, the Venetian merchant, who arrived to China in the thirteenth century, was one of the first entrepreneurs who got venture capital. He convinced several wealthy Venetians to finance his commercial expedition to Asia. Marco Polo promised that he would share his profits of this risky venture with them. These funders were a kind of precursors of the current venture capital, which main characteristics I describe below in a simplified form: Continue Reading…
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A couple of years ago, when I started reading about “lean startup“, the entrepreneurship methodology by Eric Ries, I remembered a story from my school days that may serve to illustrate the basic features of this methodology.
When I was ten, Santa Claus never brought me my Scalextric car racing game, instead gave me a useful stapler. When we were in class and an assignment needed to be stapled, we used to ask the teacher to do it for us with his own stapler. So with my new gift, my classmate and I decided to make several small writing notebooks that would serve to help us remember our assignments. Continue Reading…
It is a methodology for the creation of enterprises developed by the entrepreneur and consultant Eric Ries in his book “The Lean Startup” published in 2011. It has been a huge success among entrepreneurs, especially among internet entrepreneurs.
This methodology is based on the idea that a startup is an organization formed to search for a repeatable and scalable business model under conditions of extreme uncertainty.
The main point is to build a minimum viable product with basic features that are supposed interest to customers and launch it quickly to test if the hypotheses are true or not. By this way entrepreneur can learn a lot about the business, his products and his customers. Then, the entrepreneur decides whether to persevere or “pivot”, correcting some of the hypotheses.
- If you want to understand better what lean startup is, you could read an anecdote from my school days in the post Mini-notebooks “JoJaJo”, my first lean startup.
I interviewed Pello Gamez, one of three Geoactio’s entrepreneurs, who I met when they first launched their company. I negotiated Start Up Capital Navarra’s investment in their company. Since then, I have been witness to the positives changes in Geoactio, thanks to these entrepreneurs’ efforts, sacrifices and capacity to adapt to the market. Geoactio’s story is a good example of the difficulties which a start-up faces its first years and how its entrepreneurs overcame them.
Startup: GEOACTIO, Pamplona, Navarra, Spain.
Activity: Software and mobile applications development. Smart city and mobility projects. Smart bluetooth. Continue Reading…
Photo: Alberto Bravo and Pepita Marin, We Are Knitters founders.
Startup: WE ARE KNITTERS, Madrid. www.weareknitters.com
Activity: We sell kits online to knit your own clothes, including 100% wool or cotton balls from Peru, wooden knitting needles and pattern. All in one kit recyclable supported with video tutorials for beginners. We operate in Spain, Germany and the UK. Continue Reading…