The five recommendations of Mark Tluszcz (Wix and Mangrowe Capital Partner) in the #BStartupTalks of Banco Sabadell

Mark Tluszcz, who is chairman of Wix and CEO of Mangrove Capital Partner, shared his learnings from both an investor and entrepreneur perspective during the BStartup Talk held at the Convent dels Àngels in Barcelona. Tluszcz has invested in companies such as Skype, Wix, Walkme, Wallapop, Badi and, recently, in RedPoints, participated by BStartup and Sabadell Venture Capital. In his talk and with his usual clarity, he covered some aspects such as the most important ingredients for a startup summarized in five keys:

1. Clarity of thought and expression: "You have to know how to sell your project. For example, Skype conveyed its messages in a very simple way"
2. Total focus on the product: "The product is everything and must be easy and simple to use." At this point, regarding marketing, he emphasized the importance of storytelling: "You can have the best product in the world, but if you don't know how to sell it... You have to practice and practice your pitch"
3. Passion: "A startup is a long journey and a way of life. You will dedicate a lot of time and you have to be happy with what you do."
4. Humility and honesty: "Be humble and honest with the people involved in the project, as well as with yourself." Regarding company culture, Mark advocates for establishing a base of actions for employees: "I always look for a good stock option plan, because employees are the DNA of the company"
5. Incumbency: "As an entrepreneur, you are creating a company that is going to change the world." Furthermore, "a startup must understand the urgency and the need to go fast. You have capital in the market to grow fast, but speed must be a way of thinking as an entrepreneur."

Finally, Tluszcz spoke about business trends, highlighting that "genomics and artificial intelligence are some of the technologies that will turn the economy around in the coming years." 

BANCO SABADELL AND STARTUPS

Banco Sabadell, in its global strategy to support startups, covers the area of financing, capital investment, and innovation from different departments of the bank. In 2013, the BStartup Directorate was created, with specialized offices throughout Spain, to access specialized banking services and financing; and the BStartup10 investment vehicle, for early-stage startups. In 2015, Sabadell Venture Capital was created for capital investments and Venture Debt of up to 2 million euros in Seed and Series A stage startups. In 2017, Innocells, the hub for new digital businesses, was born. Banco Sabadell has allocated more than 150 million euros to startups, both in financing and investment, with more than 2,700 clients of this type of company and fifty participated startups.

In addition, the BStartup program actively collaborates with the entrepreneurial ecosystem by participating in and organizing multiple events, including the #BStartupsTalk sessions held in Madrid and Barcelona with the aim of sharing valuable information with the most prominent international leaders who are references for entrepreneurs.