The Startup Olé event is one of the largest technical entrepreneurship events in Europe and is held in one of Spain's cities with most charm, history and heritage. The event is supported by "Startup Europe" from the European Commission, the Central American Integration System (SICA) and the City Council and University of Salamanca.
In this edition of 2019, the Startup Olé was attended by 30,000 people from 100 countries, 550 startups, more than 500 speakers and around 250 investors or large companies that were interested to invest in the startups presented.
It has also brought novelties to highlight, such as the organization of startups by thematic verticals such as Autotech, Fintech, Deeptech, Energy or even a vertical Emergencies, focusing especially on those technologies that can serve to address social and humanitarian crises. Cases such as the current migration crisis, energy and sustainability and technology in the industry have been some of the most important sections of the event, in addition to the implementation of specific activities for investors, governments and large corporations, as well as networking events and pitching of startups. In this type of events, the joint development of support for entrepreneurship is sought.
Muutech in the Startup Olé
During the 2 days of the event, the activity of Muutech workers has been frenetic, full of activities and presentations to be made. Among the multitude of people who accessed the different stands, there were not only corporations but also students from the University of Salamanca and other study centres in the region, potential investors and curious people who were interested in the multitude of technologies and products that startups were exhibiting.
The activities to emphasize were the following ones:
There was an exhibitor organized by verticals, in our case, embedded in the automotive one, space promoted by the CEAGA automotive accelerator, the Business Factory Auto (BFA). The idea of the booth was to show the monitoring and control of production processes in the industry, with our monitoring platform Minerva. In addition, for the simulation of production processes we had a small Lego Robot that, when combined with augmented reality tools, which are very striking, encouraged the general public to come closer and ask us about what we do.
The activity of matcmaking or B2B event is a very good activity to create synergies and create opportunities between companies, startups and investors of complementary sectors. The idea is to generate opportunities for procurement, co-creation, investment or acquisition.
This is where we have been able to create very good contacts that we hope to exploit in the short term.
The pitching activity is undoubtedly the activity par excellence of all these types of events and fairs. In this case, the startups presented and accepted by each of the different verticals, had the opportunity to present their project in English for 3 minutes to a jury of experts who would evaluate the candidatures. At the end, a company from each vertical would be chosen for the final pitch in the main stage on the last day of the event.
This activity is very enriching as it allows us to get out of the comfort zone and greatly improve our ability to synthesize and communicate by having to quickly and concisely make the jury understand the project and the ideas we want to convey. In our case, we leave the video of the pitch made by our CMO, Oscar Gonzalez. Unfortunately, it was not enough to reach the final, but it was a totally positive experience.
One of the most interesting novelties that the Startup Olé has had is the reverse pitch, where in this case it is the startups that evaluate, and the accelerators that expose their projects, what they are looking for and why the startups should apply to them. The Reverse Pitch has been a very interesting experience as it was the first time we participated in a similar activity.
This activity aims to deepen each of the topics of discussion. In the case of Muutech, we participated in the table "Driving entrepreneurship in the automotive industry", with the BFA at the head and whose main idea was to deepen the entrepreneurial ecosystem in the automotive sector.
The experience itself was interesting as the table was really represented by all the actors that make up the BFA ecosystem, both the public part represented by the investment fund Xesgalicia, as well as the accelerator mass (BFA) from the hand of CEAGA (Galician Automotive Companies Cluster) and the types of companies that participate in this initiative, a spinout (Norlean / Soltec Ingenieros) and a startup (Muutech).
Our take aways for Startup Olé
The experience of Startup Olé has been very enriching in every sense, not only in terms of business and business, where we have made many very good contacts for possible future collaborations, but we have also merged with the culture and gastronomy of Salamanca, undoubtedly one of the best in Spain. We return full of ideas and energy to move forward with our business and perhaps see each other again in the 2020 edition.