A Valencian company helps entrepreneurs turn their ideas into "invertible projects" in four months

Launches to the market applications to pay from the mobile, locate offers in restaurants and obtain discounts through small challenges.

The Valencian company Business Booster (Bbooster), the first “accelerator” of technological projects created in Spain at the end of 2010, helps entrepreneurs turn their ideas into “invertible projects” and future “successful companies” in four months, in the that gives them a place to work, offers technical advice on marketing and marketing aspects and even provides accommodation “practically free” to those who are not from Valencia. In return, you get a 10 percent stake in the companies.

This was explained at a press conference Enrique Penichet, founder of the company along with Miguel Ángel Santos, Fernando Becerra, Javier de la Ossa, Pablo Penichet and the Catalan and Iranzo families, who have indicated that they offer this tutelage to already established companies as to others that only have the initial idea.

In addition, they have created the ‘Bbooster Seed Capital’ fund to finance these projects, made up of 16 shareholders including Reyes Ballester (IGSA), Francisco Álvarez (Ferrobús), Antonio Iranzo (Sierra Aitana / Volvo Dealer), the Santamaría family (Somilar), the Catalán family (Grupo Transvia) and Francisco Nebot (Nebot Arquitectos), and which is also open to other investors.

This fund is endowed with 320,000 euros, amounting to 500,000 euros with direct contributions to projects and reach a global investment of one million euros with participatory loans, as Santos has specified- get more.

Additionally, they organize an ‘Investors Day’ to give them the opportunity to present their companies to other possible private investors, which will take place this Saturday at the Campus Party.

Penichet has indicated that they decided to import this successful model of Silicon Valley business tutelage with the aim of creating a niche in attraction and creation of companies based on the business of Internet and mobile applications in Valencia, considering it “an optimal place to make a cluster” ” of this type.

Improve success ratio and return on investment

Improve success ratio and return on investment

 

“It is a matter of reducing to four months the term that the entrepreneurs of ‘I alone against the world’ go through and giving them the greatest possible facilities,” explained one of the founding partners, who said that they seek to improve the overall ratio of success of these companies from the current 10 percent to approach the 40 percent harvested in the United States, as well as profitability for investors, to achieve “two-figure returns”.

From the first Bbooster program, which began in February and received 40 applications from internet companies and mobile applications, four companies have emerged: a platform to pay via mobile phone by bringing the credit card -CelCard-, an application to locate offers of restaurants nearby -Comidalia-, another that allows points to be redeemed for discounts on different brands through small challenges -HoopTap- and an online store and advice on energy efficiency -Efimarket.com-.

CelCard, designed by engineers José Ignacio Llop and Antonio Querol, offers a mobile contactless payment system, similar to that used in countries such as Japan, New Zealand or Korea, which allows retailers to dispense with the point of sale terminal (POS) and Customers obtain digital tickets, place their purchases on the map and even derive the payment, so that “for example, a parent can pay their children’s taxi ticket from home”.

According to Llop explained, this system significantly lowers the costs for businesses since it eliminates intermediaries and only requires adapting the cards and have a mobile or USB reader with near-field technology, which has managed to work “very well” in Asia and has “great potential” in Spain.

“advertising games” for customer loyalty

"advertising games" for customer loyalty

 

For its part, the eight members of HoopTap captained by David Sanz have developed a mobile application for brands to trust their customers and promote new products through “advertising games”, such as record their access to stores or pose with different garments in social networks.

The four teams responsible for the development of these projects, with an average age of 25 years, have worked side by side for four months in a central building in Valencia and will now make the leap to the market to make way for new entrepreneurs.

Facing the second call, which will begin in September, the company has already received more than 100 proposals and is currently studying extending the registration period until the end of the month.

In response to questions from the media, those responsible for Bbooster have commented that their involvement in the projects is “very intense”, since they get to “really get involved beyond the services of ‘mentoring’ and training”, with what the usual horizon Investment in “between three and five years” may increase in some cases, even to consider “becoming stable partners”.