Yolanda Pérez is director of BStartup and Hub Empresa at Banc Sabadell. She is also a member of the business council of Vall d’Hebrón Institut de Recerca (VHIO) and a member of the advisory council of the Asturias Startup Fund. She has developed a large part of her professional career at Barcelona Activa as director of territory and commerce or director of business growth, incubators and technology park.
BStartup serves more than 5,500 clients and has already achieved a hundred direct investments in companies with notable success stories such as Red Points, Signaturit, Incapto Coffe, Qida, Exoticca or Cobbe, among others. The 83 companies that are still operational generate more than 4,200 jobs and have an aggregated turnover of 600 million euros.
— Why did you join BStartup? --- I came from the business and technology area of Barcelona Activa and joined Banc Sabadell in September 2013 with the aim of creating BStartup. Sabadell is a bank very specialized in companies and verticals such as agri-food, tourism or the third sector, among others, but startups, innovation and technology still needed to be explored.
— How were the beginnings of this banking and entrepreneurial adventure?
— We were pioneers in Spain because back then there was no bank that offered specialized banking services to startups. We started with a triple approach from a banking, equity and Open Innovation point of view to support the financing, innovation and growth of the technological entrepreneurship ecosystem. I started alone and now we are about sixty people at the bank who work only with startups.
"We must open ourselves to talent and anticipate the needs that will arise with the arrival of generative AI and its impact on startups and innovation"
— Give me some figures.
— We serve more than 5,500 clients across Spain and have already invested in 100 early-stage companies with notable cases such as Red Points, Signaturit, Incapto Coffee, Qida, Exoticca or Cobbe, among others. The 83 companies that are still operational generate more than 4,200 jobs and have an aggregated turnover of 600 million euros. It is important to explain that in 31 of the 100 companies where we have invested, at least one of the founders was a woman. By the end of the year, we will also open the BStartup Hub in Passatge Mercader in Barcelona.
— How is the relationship between the bank and startups?
— It is not the most natural thing for banks to work with business models that are very innovative and often operate at a loss. To understand each other, one must know very well how the financing of these companies works and know the best time to enter. We invest in initial phases, but we also provide banking services for all startups and at any stage, from early stage to spin-offs or unicorns. Sabadell has a venture capital vehicle that can reach up to 10 million, some funds like Asabys, and has even acquired a couple of fin-techs in recent years.
"In Barcelona, we have everything, from infrastructure to investment and attraction of companies and talent"
— What do entrepreneurs need?
— We need to focus on the adoption of the innovation we are generating. Entrepreneurs need funding, but also great contacts and large markets. For example, in the healthcare system, many service and efficiency improvements could be made thanks to startups. It is very important to focus on Europe.
— What are the main challenges for the Barcelona and Catalan ecosystem?
— Here we have everything, from infrastructures like the Barcelona Supercomputing Center (BSC) or the Alba Synchrotron, to investment and attraction of companies and talent. However, we need to generate even more opportunities for local people and foster greater cooperation with universities and business schools to meet the needs of the entrepreneurial and innovative ecosystem. We must open ourselves to talent and anticipate the needs that will arise with the advent of generative AI and its impact on startups and innovation.
— Where do you think there will be more opportunities?
— There will be many opportunities in Europe, from the perspective of innovation in DeepTech and other technologies that will be very necessary. Thus, Europe must aspire to have a certain strategic autonomy in DeepTech and a lot of money is already expected from the public sector to develop its financing.
— What are the sectors where BStartup invests the most?
— Our fund is 100% from the bank and there are no investors behind it. We are what is called an evergreen fund and, therefore, we do not have the hurry that an investor usually has to divest. We are agnostic and invest in B2B, SaaS, software, but also in DeepTech or the industrial sector. Catalonia is a relevant international hub in health and from BStartup we invest in more than 20 health companies, a large majority of which are Catalan.
"If we want to be competitive in the world, we must find a balance between European values and competitiveness in the world"
— Which sectors are on the rise?
— Health and sustainability, although the latter has slowed down a bit. Companies that can help with decarbonization are needed. Software is easy, but DeepTech is harder. We try to promote everything that the market is not yet doing on a large scale in health, sustainability or DeepTech.
"Regulation is needed, but it must be broken down because otherwise we are playing at a disadvantage compared to other environments such as the American or Asian"
— How is Barcelona positioned in the world beyond the rankings?
— Sequra is the startup that has raised the most funding in Spain during 2024 with more than 400 million euros and it did so from here. In Barcelona there is a lot of movement, it is an international hub and people want to come here to work and innovate. From BStartup we supported 4 Years From Now (4YFN) when it was just a powerpoint and now it has become a great international showcase for the Catalan ecosystem. We bet on the first edition of the Tech Spirit, we have participated in the creation of the Climate Hub Barcelona and we have given all our support to the Barcelona Health Hub since its inception. In Barcelona there are also many opportunities in the blue economy.
— "The entrepreneur's journey is the hero's journey", assures Laura Urquizu (Red Points).
— The entrepreneur's journey is very complicated and has many obstacles. Europe must reflect on regulation and administrative hurdles. Regulation is needed, but it must be broken down because otherwise, we are playing at a disadvantage compared to other environments like the American or Asian ones. A significant effort must be made to separate the wheat from the chaff.
— In what sense?
— What should be maintained and what should not, what can be made flexible and what is or is not key to Europe's technological independence. If we want to be competitive in the world, we must find answers to all these questions, find a balance between European values and global competitiveness.
"I believe there is still much growth to come, and that Barcelona will be a very relevant hub in health and other sectors globally"
— A last piece of advice for entrepreneurs?
— The most successful entrepreneurs know how to ask, listen, and talk to many people before starting a project. People make the difference in very early stages. It is very important to have confidence in a person who is capable of making this journey through the desert, having the necessary resilience and the ability to convince others to join the adventure. Knowing that market and that industry. Knowing how to surround oneself and build a balanced team to be a winner with technique, technology, and business. Financial knowledge is also needed. Mechanisms must also be in place to manage team relationships and know everyone's role. Difficult moments will have to be faced and conflicts resolved because, for sure, there will be many. A lot of ambition is needed to endure all this and have large markets with scalability potential. It is not easy at all.
— Finally, how do you imagine BStartup 12 years from now?
— The world of startups has gone in waves and the vast majority of startups we have now are software, services, products, ecommerce and also many spin-offs. All this will grow a lot with DeepTech companies and I hope that there will be larger funds that can accompany companies with even larger rounds. I remember when I used to visit technology companies in Silicon Valley during 2005 and here there were still very few funds, no entrepreneurs who had sold their company and had become investors. So, I believe there is still a lot of growth and a lot of talent attraction to do and that we will be a very relevant hub in health and other sectors worldwide.