A list of tips from Glovo, Factorial or Pau Gasol that 4YFN 2024 leaves behind

Four days and dozens of conferences later, 4YFN 2024 arrives to start preparing for next year’s edition. The goal, which is fulfilled year after year, is to increase the scale of the previous event. In 2024, they were two exhibition floors, more than 900 participating companiessome 9 thousand entrepreneursothers 5,000 investors representing funds worth €50 billion in 350 speakers. Among them are several links from the entrepreneurial world: from Oscar Pierrewith Globefor now Laura Urquizuwith Red dotspassage – in a curious “crossover” – through Pau Gasol. Here is a list of tips shared on stage at this congress for startups and entrepreneurs within the framework MWC 2024.

The president of the event at the opening of the session talked about how the business market has developed in recent years. “Until 15 years ago, innovation was a monopoly of large companies (business, academia, government institutions…), the Internet allowed us to democratize it and Today, you have a computer for $200, you can open an account with any of the cloud service providers and enter the entrepreneurial market., at least with a proof of concept,” said the Israeli businessman and investor. Still, his main advice hasn’t changed much over the years: Ask yourself if you can handle being punched, or if the punch makes you angry and frustrated. “Failure is the price of success,” he said. “If you can’t fail, don’t be an entrepreneur.“, he advised.

The a public interview with the co-founder of Glovo He left several lessons for those listening to him in the audience. First of all, regarding what Pierre would do differently now: firstly, control the cost of growth, secondly, he would be more cautious when announcing financing rounds. “The day you announce that you have a lot of money in the bank, it starts a cascade of micro-decisions where everyone stops insisting,” he says. He also warned about the importance of being humble and how the founder of Seaya, Beatrice Gonzalez, plan the timing of the sale of the company about 2 years in advance. In that sense, Pierre recognized it If they hadn’t made a deal with Delivery Hero then, they’d probably be in big trouble right now.: Investors who need to exit urgently and investors who need more returns than they could get.

Red Points, the company he leads, has raised 70 million euros to date, so he has become a good expert in what venture capital requires. “In the beginning, when you talk to a ‘business angel’, it all depends on the passion, the mission, the project… and not so much on having a clear business model,” summarizes Laura Urquizu. In his opinion, this is what an investor is looking for most at this stage An entrepreneur should not lose sight of the fact that his goal should be to find a business model and a way to make a profit.. In fact, his top advice for companies in the more advanced, “scale-up” stage is to assume that to more funding, you can’t go it alone with a good attitude. “When you go to Series B and C, KPIs start to become important: you can’t go to Series B by just showing passion and ideas, you have to show metrics, a ‘track record’ and how you did what you did” , it shows..

Factorial’s co-founder and CEO attributed his biggest mistakes to date to the human factor: hiring, not hiring, firing… and most of all, the assumption that people know things. “The world is full of idiots with good intentions,” he concluded. Judging by his speech, Factorial’s business culture took a hit after the hire, which was made with the intention of solving a problem they faced quickly and almost with magic formulas.. Not only did the solution not work, but the attempt did a lot of damage to the team culture. “When in doubt, don’t hire,” Jordi Romero summed up at this convention.

He was one of the first to burst onto the 4YFN scene. How partner of Indian Capital Partners, Christina Fonseca shared his list of the seven deadly sins common to startups. The list is more like a compendium of basic tips: create a fantastic product, hire a great team, don’t lie, offer rounds of financing according to the real value of the company, choose the right capitalist partner, respect partners in general in think marathon, not race.

Co-founder of Mitiga, a company that has been noted in some other forums as Broken today (ex Polytechnic University of CataloniaFractus technology has revolutionized mobile phone manufacturing worldwide), was very clear and concise: Entrepreneurship is a 12-hour-a-day job. no excuses, because many people depend on you, and in which Dealing with uncertainty is very important. “Choose your co-founders well, choose your investors well, and be very honest with yourself,” Alex Marty summed up.

He became one of the stars of 4YFN 2024, primarily for his athletic career, but also for his current dedication to investing in entrepreneurial projects. As president Gasol16 Venturesassured the former basketball player that there is there are many parallels between high-level sports and entrepreneurship. Hence the importance of their advice, especially focused on emphasizing importance persistence, persistence and with teamwork. “In the world of sports, defeats happen very often,” he added. His recipe: “Patience, consider the seasons long, and don’t lose focus,” he listed in a list that also applies to any entrepreneur.

Head of Art Telefónica’s digital strategy, better known for his past as a “hacker,” shared some of his experience leading a team as large as the one he runs at a telecommunications company, as well as being an entrepreneur, while sitting next to Gasol. Above all, “companies succeed and fail because of money.” This cybersecurity expert explained that when someone asks him for a budget of, say, €70,000, he always reminds them that he and his family lived in an apartment that thirty-some years ago cost €60,000 for 25 years . “I always ask what they will bring me for 70 thousand euros, what will they contribute?” Besides money, Alonso also stressed the importance of team play. “Anyone who creates a startup should keep in mind that they will need a lot of people and that if they can make them shine, everything will be much easier,” concluded Chemo Alonso.

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