Coffee Break with Andoni Alfaro

To start the Coffee break  the attending entrepreneurs shared in the format of elevator pitch, what their project consists of and they were able to leave their professional card. In this way, after finishing the session, they were able to carry out a networking  and generate synergies between all of them more effectively.

Andoni Alfaro It's one of the Business Angels most important in Spain, has invested and promoted countless startup and many other entrepreneurial projects of different levels. In addition, Andoni is a mentor of the Comillas Mentoring Network and creator of G8 Investment.

He began his presentation by reviewing his entrepreneurial career "I started in the travel sector in 2006 (which was my great passion), but I realized that the business model was difficult to scale and it was very difficult for us to obtain financing."

He pointed out the key aspects within his role as an investor, among the most notable we can point out:

• “I invest in scalable companies that can generate value (ideas that solve problems and people are willing to pay money for them). Not all ideas come at the right time, some too late and others too soon.
• “The investor cares about three things when evaluating a project:
  1. Recover and earn money: the product or service is not the most important thing
  2. That the business model is capable of getting ahead and is scalable
  3. The investor must believe in the team of people capable of moving the project forward”
• "Be honest with you and with your first investors, the one who knows the business best is the entrepreneur, but an investor can contribute many things because he has been wrong many times"
• "The investor invests more in companies in which the cost of customer acquisition is decreasing, and the income for the customer's useful life increases the more invested in marketing makes it a scalable company"
• "I normally invest in teams of at least two or three people and that is balanced (multidisciplinary, normally everyone has bachelor's degrees and postgraduate studies, they are highly prepared people)"

When asked about the fear of entrepreneurs when presenting and sharing their ideas, Andoni I affirm that "ideas are worth zero euros to me, what is worth is how these ideas are executed and carried out by a qualified team".

Once the exhibition was over, the attendees shared a coffee and a session of networking in the common area Carabanchel business incubator.

The event was broadcast live on our Facebook page, you can check the video of the session.

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