EADA Startup Day: EADA success stories guide International Master in Management participants with their first startup adventure
Four EADA Alumni who have today become big entrepreneurs on projects with an international scope made room in their tight agenda last May 25th to explain their startup venture to current participants on the EADA International Master in Management, who are interested in starting up their own business.
We are dealing with four success stories who made their dream of setting up their own business come true right after they finished their studies at EADA. One of them is Íñigo Muñoz –International Master in Management 2011-12–, founder of Mynbest, a startup based on crowdfunding thanks to a platform that links up investors with entrepreneurs. The other is Edoardo Peschechera –International Master in Management 2007-08–, an expert in mobile strategy and Sales manager at SetNova, a consultancy that helps all kinds of companies and organisations with innovation and the introduction of new technologies. Also present was Joad López –International MBA 2009-10–, cofounder of Eyescream and Friends, a new ice-cream shop concept that already has various franchises around the world selling course textured, Taiwanese style ice-creams in different shapes and with sugar eyes. Finally, Oriol Tort –International Master in Management 2006-07–, CEO and cofounder of Counterest, a company that provides a software and hardware solution that counts the number of people who coincide in places with a lot of transit and can also provide data estimates for specific days.
Face to face with big entrepreneurs
All four of them took part in EADA Startup Day, an event leadered by Nigel Hayes, director of the International Master in Management, with a practical focus. The event began with a 15 minute long talk given by each speaker explaining the steps they followed in setting up their company. They then went on to clarify some of the student’s queries. But for those students who required more personalised attention short meetings were arranged with the speakers in four EADA classrooms. In this second part, the participants asked for advice from the entrepreneurs on how to turn their start up initiative into a viable business.
The event began with a 15 minute long talk given by each speaker explaining the steps they followed in setting up their company and continued with short meetings with the participants in four EADA classrooms
For example, Andrés Prendas, 27 years old from Costa Rica, who is taking an International MBA, met with Íñigo to ask his advice on what partners he should choose for his business idea, a food and drinks kiosk. “In his talk he explained that it was crucial to choose the right partners because you will be spending more time with them than with your own family, so I wanted to ask him what criteria I should follow in order to make the right choice”. Furthermore, Andrés wanted to ask him whether he took part in other business projects during the time that he was setting up his own business because as far as he sees things, “this could constitute an opportunity to test different start-ups”.
His friend and classmate Carlos Valerín, 26 years old and also from Costa Rica, asked Íñigo one of the questions that were most frequently repeated throughout the day. “Where can I seek financing?” Carlos was attracted by the crowdfunding option that the speaker outlined: “I think it is an alternative to traditional sources of financing but I’m not sure about whether it will be enough to launch the web platform I have come up with for buying up dead inventory”. What’s more Carlos was interested in finding out how Iñigo’s company gained the recognition it has today. As he explained, “I don’t know what marketing strategies are the most appropriate”.
The election of partners, the financial options or the best startups to learn from were some of the most common participant’s queries
On the other hand, Clemente Pascalle, 29 years old from Italy and also an International Master in Management participant, met with Edoardo Peschechera not so much to ask him how to start up a business but rather on how to get involved in a startup. “Before setting up a company I am interested in acquiring expertise in a startup or even in an incubator for various entrepreneurial projects to see how they evolve and how they solve the difficulties that arise from one day to the next”, he pointed out. To which he added, “This would obviously give me a holistic perspective of a startup, from the point of view of Marketing, Finance as well as Human Resources, for example”. In his opinion, “Barcelona is a good environment for entrepreneurs from which you can learn a lot”.
Young people with an entrepreneurial mindset
Nigel Hayes considered that the event went very well because “it gave the participants on the EADA International Master in Management a better idea about what steps they have to take to set up a company based on the personal experience of four entrepreneurs who overcame the difficulties presented by startups and today run important companies”. Hayes added: “It is very easy to have one or more brilliant business ideas. The difficult thing is to turn these into viable and profitable businesses, so the advice given by our Alumni is of great value”.
The EADA professor and director of the master put a great deal of effort into this event because he believes there is an intrinsic relationship between the programme and entrepreneurship: “We have various success stories of entrepreneurs who have set up their own company on finishing the EADA master. In many cases their entrepreneurial mindset does not arise at the beginning of the programme but in the fourth or fifth month as they acquire more knowledge and are more eager to take the leap into business and become their own bosses”.
According to Nigel Hayes, most of the International Master in Management are eager to take the leap into business and become their own bosses
In this respect, Nigel expresses his admiration for “all these young people who take on this risk whilst giving up the cosiness of working in a large company with a steady salary each month”. And he goes on to add: “We must thank entrepreneurs such as these for the country’s economic recovery because their companies employ a lot of people and contribute to furthering R+D+I and in this way to the growth of the economy”.
Furthermore, Nigel considers that events such as this are essential for furthering networking among our students and Alumni and on occasions many of them have made contacts after similar conferences and have ended up working for their companies which we are extremely proud of”.
The video below shows what Nigel Hayes as well as Edoardo Peschechera and Joad López had to say about EADA Startup Day: