AI redefines entrepreneurship and puts people at the heart of value: Esade Alumni Start-Up Day Madrid
Artificial intelligence (AI) is overhauling entrepreneurship and business models faster than ever, marking a sea change in how companies are set up and run. However, far from sidelining the importance of people, these tech developments actually bolster their role as the main distinguishing feature. This was one of the main conclusions of Start-Up Day Madrid, organized by Esade Alumni and Banc Sabadell’s BStartup, where experts in innovation, enterprise and investment all agreed that taking AI on board calls for on-going, specialized training to exploit its opportunities without taking risks. Against this new backdrop, skills, values and criteria are key assets. In a world with more and more automated tasks, a company’s personnel is increasingly its distinguishing feature.
The event featured an Esade Desayunos session, sponsored by CriteriaCaixa, with the keynote speaker Oriol Vila, co-founder, former CEO and board member of Holaluz, and the creator of BlaBlaNote, an app for using AI in networking. During his talk, Vila emphasized that entrepreneurship is still based on three cornerstones: purpose in order to “take difficult decisions”; communication in order to “continuously reinforce messages”; and corporate culture, which he regards as “crucial for moving forward in the same direction”.
Vila also emphasized the importance of self-awareness as a strategic tool for entrepreneurs. He believes that coaching and mentoring “help you stay in the present moment” and facilitate decision-making in times of uncertainty. He also championed a more organized approach to networking, because in order to “be useful, it must have a goal, be planned and prepared, and not left to chance.”
AI is rewriting the business and societal model
The event also brought together experts in entrepreneurship and AI who addressed the scope of this transformation. According to Sonia Marzo, AI National Skills Director Spain at Microsoft, AI “affects not just one sector but all sectors, and is shaping a new business and societal model.” In this respect, she emphasized the need for training, “Ignorance is no excuse, and unethical or irresponsible use is not acceptable either.”
Nacho Travesí, co-founder and CRO of Orbio AI, warned of the disconnect between the potential of AI and how companies use it. “Many firms think it’s enough to simply implement tools, without explaining how to use them.” He feels that this situation calls for a new mindset, “We have to be more inquisitive than ever and carry on learning about how to automate operational tasks and focus on adding value by thinking.”
A decisive moment for investment too
Esade Alumni Start-Up Day Madrid also focused on the investment opportunities arising from today’s tech landscape. During the panel discussion chaired by Esade professor Vicente Bermejo, several investors from the entrepreneurial ecosystem agreed that here and now is a unique opportunity to pinpoint and support the companies that will define business models in the coming decades. They also encouraged entrepreneurs to lead the way in this transformation.
In this respect, Andrés Echecopar, managing partner at Bcombinator VC, emphasized that “nowadays, it’s faster and cheaper to make mistakes than ever before. It’s an opportunity to build something unique, differentiated and global.” Nico Goulet, founding partner at Adara Ventures, underlined the crucial role of entrepreneurship in this revolution, because entrepreneurs today have tools that enable them to overcome barriers traditionally associated with big corporations.
Javier Megías, entrepreneur and COO of Zubi Group, pointed out that the focal point must still be the customer, “An idea might be good, but it must be tested in the real world, in other words, with customers. It’s not about agreeing with them, but listening to them.”
This event, headed by Patricia Valentí, director of Esade Alumni, also featured a round of investment organized by the EsadeBAN business angel network directed by Fernando Zallo, with projects put forward by Iñaki Arilla, co-founder and CEO of Hander VET; Alejandro Giacomelli, founder and CEO of Rituale.Coffee, and Alberto Lazarov, co-founder and CEO of Dalatea.
