22
Feb

Agenda IE Venture Network Weeklies, February 23rd 2017

Escrito el 22 Febrero 2017 por entrepreneurship en emprender

16
Feb

MEET AREA 31 STARTUP: SMITZY

Escrito el 16 Febrero 2017 por entrepreneurship en emprender

Area 31 interviewed Carlos Schmitz, one of Smitzy‘s partners in order to get know this clothing startup that is revolutionizing a piece of clothing as simple as chinos trousers. A cheerful, funny, close but also nonconformist brand has arrived. Their main goal? To create the perfect chinos. They manufacture in Europe and as far as possible in Spain. They want to contribute their grain of sand to the promotion and consolidation of the image of Spain in the world. Much more than just a trousers brand.
They have created a discount code for IE: IESMITZY17

The three partners that make up the company are Carlos Schmitz, Antonio Ortgea y Jose Manuel Rico Zorrilla. They all studied an MBA at IE between 2007/2008: Jose did the Spanish one, while Antonio and Carlos did the international one. Each of them come from different backgrounds. Carlos has formed part in various startups before starting Smitzy. At the moment, together with Antonio, they are also working on PayCui, a payment app for bars and restaurants.

Smitzy started up when they all got together and observed that there was a market niche for chinos trousers and dress pants for men. They did some research, and discovered that there was a market for what they wanted to create.There are other brands in the market that have chinos, however the style and the overall image has become a bit old fashioned and smitzy believes that they can fill that niche by introducing a modern, more up to date version of chino and with an online and customer centric approach. 

For the time being, Smitzy will be selling online, but they would like to start selling physically in Madrid and Barcelona. Their goal for the second stage of the business is to have their own stores, and once we get there they say that their concept might change a little bit.

“We know that buying trousers online is a challenge for the customers, given that it is a complicated piece of clothing to buy online without having tried it on before. How have we tackled this?  Firstly, by creating a single pattern for all trousers that we sell despite of the model -these days, we are only offering two models, one is worn out and the other one is rather classic-. Secondly, by offering customers a table that compares sizes from other brands with Smitzy’s sizes. “

The problem that they saw with many brands that were selling trousers, is that they offered different models with different patters, and this is confusing for the customer who is not able to know if the patter will suit him, given that there are different patterns for each model. In Smitzy, if one trouser suits you, all of them are going to suit you, because it is one pattern for all models. They have developed this strategy as a result on analyzing men’s clothing buying habits. Provided that men generally tend to dislike more going shopping, in comparison to women, because they like to go directly to what they already know that suits them. It is for that that once men find that one model of trousers that looks good on, they will buy the same model in every possible colour.

In order to ease the process of selecting the size of a pair of trousers without previously trying them, they have created a comparative table of all different sizes for some brands -they would like to extend the table to at least 10 brands-, in order to guide customers to select the appropriate size. For instance, a man who knows that he has a 36 in Zara’s trousers, is then able to see the corresponding size for Smitzy’s chinos. There are certain technologies that allow this process to be automated, and at the moment they are testing some of them. Creating the table has been one of the most difficult things that they have encountered with. However, as their main objective is to eliminate the fear of buying the first pair of trousers online, they had to get this right, and it seems that they are, as they have already had various repeated purchases.

 

“As an entrepreneur, you have to be really persistent. I remember when we started we would tell people that we were getting into fashion and they would go like: “Fashion?!?! You are crazy!”, but you have to believe in yourself and in your project.”

Another element that differentiates this brand is the customer service that they deliver, called “Servicio Jedi”. They way in which Smitzy is operating at the moment, is that whenever a new client orders for the first time, they text or call him. They want to know if clients have gotten the the size right thanks to the size comparative table. Most of the times, they get it right.

Moreover, Smitzy allocates 5% of each sale to Fundación Aladina for the reform of the Unit of Intensive Care of the Hospital Niño Jesus of Madrid. The idea is not focus on just one NGO, but rather on specific and diverse projects, so that their customers are able to see where their money is really going. Ideally, the client will be able to choose where they would like to allocate their money, but this remains to be developed.

“In terms of the life of an entrepreneur, you never get bored. I love it, is extremely fun and there is always new things that come along. There are generally new problems arising every day, but I enjoy new challenges. In the end, you can spend in this as many hours as you would send if you worked as a consultant, but this is not the same, because it is YOUR project, and that is what makes this different and special. Besides, what I like the most, is the fact that you do a bit of everything: finance, marketing, sales… In the end, if you do not do it yourself, no one is going to do it.”

Tess de Gregorio.

Madrid, Thursday, February 16th, 2017

15
Feb

Agenda IE Venture Network Weeklies, February 16th 2017

Escrito el 15 Febrero 2017 por entrepreneurship en emprender

14
Feb

Global Mobile Challenge

Escrito el 14 Febrero 2017 por entrepreneurship en emprender

The season of regional finals of the Red Bull-sponsored Global Mobile Challenge has ended all over the world and the winners from seven regions, picked from 2000 pitches, are preparing to compete in the final. The final takes place in Barcelona on the 28th February and 1st March and will be part of 4YFN, a programme of Mobile World Capital Barcelona, which will take place within the Mobile World Congress, the biggest and best mobile industry event in the world!

There are over 20 teams from all over the globe will pitch to take the overall crown at the final culminating event. The winners so far…:

  • ARAB / AFRICA Mobile Challenge: Protect Me (Tunisia), Talking Bookz (Nigeria), Blink (Egypt),  Securella (Morocco) and SmartFarm (Algeria).
  • US I CANADA Mobile Challenge: BattleMe, Mimble and WashMyWhip (US):
  • LATAM Mobile Challenge: Box to Market (Colombia), Karaoke Smart (Peru), and RocketPin (Chile)
  • ASIA PACIFIC Mobile Challenge: ShopBack (Singapore), MyCash Online (Malaysia) and The Hug Innovations Corp (India)
  • EU Mobile Challenge: WRIO keyboard (Switzerland), Valeet (Spain) and Klup (Netherlands)
  • EURASIA Mobile Challenge: ConfBot (Russia), Earlyone (Armenia), RehabGlove (Georgia), Plugmee (Ukraine), Wings4All (Russia) and Treepex (Georgia).

Schedule (See. https://www.4yfn.com/event/mobile-world-congress-barcelona/conference-programme/):

  • First session of pitchers February 28th 9:30-11:00 
  • Second session of pitchers February 28th 15:00-16:30 
  • Grand Final March 1st 15:00-16:25

We hope to see you there!

7
Feb

Agenda IE Venture Network Weeklies, February 9th 2017

Escrito el 7 Febrero 2017 por entrepreneurship en emprender

31
Ene

Agenda IE Venture Network Weeklies, February 2nd 2017

Escrito el 31 Enero 2017 por entrepreneurship en emprender

27
Ene

WRIO Keyboard wins European final of the Global Mobile Challenge

Escrito el 27 Enero 2017 por entrepreneurship en emprender

  • WRIO Keyboard, a speed typing solution for iOS, is the European finalist in the Global Mobile Challenge.
  • The world final of the competition will take place from February 27 to March 1 of 2017.

Madrid, January 27, 2017.

WRIO Keyboard, a speed typing solution for iOS, is the winner of the European final of the Global Mobile Challenge. The competition is run by IE Business School in collaboration with 4YFN (4 Years From Now) to afford recognition of the best apps and smartphone solutions developed by young entrepreneurs around the world.

The Global Mobile Challenge is one of the world’s biggest app competitions for young entrepreneurs. “It’s a unique event that brings together brilliant young people from around the world to develop smartphone solutions,” said Professor Paris de L’Etraz, Director the IE Venture Lab.

 

The winning teams from each world region will compete in the world final of the Global Mobile Challenge, set to take place from February 27 to March 1 of 2017, at the World Mobile Congress held in Barcelona.

The winner of the Global Mobile Challenge will spend a week at IE Business School’s Center for Entrepreneurialism and Innovation (Area 31).

 

 

18
Ene

Agenda IE Venture Network Weeklies Madrid, January 19th 2017

Escrito el 18 Enero 2017 por entrepreneurship en emprender

16
Ene

Bhive Goes to Startup Chile!

Escrito el 16 Enero 2017 por entrepreneurship en emprender

Bhive Goes to Startup Chile!

2016 has been a different year to say the least.
We finally realized corruption is eating society inside out (and not only in developing countries…) and learned internet can send information (good and bad, real and fake) virtually anywhere in the globe. We have had many awful terrorist attacks, and worrying signals from global leaders, such as Brexit and Trump’s election while we are still trying to figure out what is happening in Syria… And let’s not talk about arts, culture or music, too many geniuses decided to leave us.
But I digress.
2016 was also a good year for many of us in many different ways, and it is important to acknowledge that as well.
For bhive and our team, it was a year of learning and expansion. We have settled down in Colombia straight out of Venture Lab, adjusted our model to Latin America’s reality and expanded to Brazil and Argentina, as part of our regional strategy (but also by request of clients).
2016 was a year of working magic with our small budget, saying no to clients for the first time, and figuring out what customer service really means. And oh, user experience would deserve a separate chapter in the future. But it was also a year we found our newest partner, attracted important clients, attention from the media and started getting random calls from investors. Finally, the year ended up with a good surprise: we got into Startup Chile, arguably the most renowned government program to foster entrepreneurship in Latin America. The grant and “seal” of the program will empower us to start operations in Chile, and later on Peru, expanding our network in Latin America and offering more and better talent to companies that operate in the region.
2017 looks very promising and will certainly be full of challenges, but the opportunities are there for those who are prepared. And IE and its entrepreneurial spirit have certainly prepared us for a lot!
Personally, I continue to be available for every entrepreneur in Venture Lab, should they need advice or just comforting words that, yes, it is worth it.
We hope it is a year of great achievements for all IMBA Alumni, especially those who have chosen to follow this path. #IEBusinessSchool #Entrepreneur #VentureLab
Saludos,
Leonardo Marchant (IMBA Apr14)
CEO of www.bhiveconsulting.co 

12
Ene

Venture Network Tenerife, Jueves 9 de Febrero

Escrito el 12 Enero 2017 por entrepreneurship en emprender

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