Saturday, August 31, 2013

BARCELONA: a global startup hub in the making?

There's ample reason to think there's a lot of untapped potential. And yet, there's also reasons, listed at the linked post, why Barcelona is not yet on the map. I think entrepreneurs should particularly tatoo this one on their foreheads:

Less Government or Bank Funding: Government or bank loan programs have no place in the startup world. It only scares off smart money down the road. Entrepreneurs in Barcelona and everywhere for that matter, must learn to sell their idea and raise their own initial capital to build their MVP. The Spanish startup community in general must stop looking to the Government or banks for financial help.

Because 9 out of 10 (that's a wild shot, I know) complain of lack of funding because the government doesn't give them money and banks won't lend them. But as per above, that's definitely not the way to go.