“ We thought big from day one”

Seedstars World is a young project (2013) now established in 55 countries, how did you succeed in spreading out all over the world in such a short time and what criteria was used in selecting these particular countries?

One of the main reasons why we succeeded to expand to 55+ cities in only three years is because we thought big from day one. We are a startup, and with that definition comes the belief that we want to scale. Another reason was that it was fundamental for us to become the "Startup Olympics" and so we needed to grow fast and spread to all corners.

We select emerging markets and fast growing startup scenes. We started in 2013 in 20 countries. At this stage we focused on countries where we had at least one point of contact (through our different networks like Sandbox, Ashoka, Global Shapers, etc). Since the first edition was accomplished, it has been much easier to scale due to the brand recognition and interest of local players to collaborate with us.

What sparked your interest in starting this project (Seedstars World) and what benefits do you enjoy in running it?

I met Pierre-Alain Masson, Co-Founder of Seedstars (the company builder in which Seedstars World is one of the portfolio companies), about 3 years ago. He had the idea of wanting to tour the world in order to find the best startups and brightest entrepreneurs in emerging markets, and find a way to connect them all. The idea was so out there that I straight away decided to join him in the adventure. From there we defined a competition as the best vehicle to build this amazing network of not only entrepreneurs but all the major stakeholders building the ecosystem (accelerators, incubators, corporates, government agencies, investors, etc).  It has become a passion. It has been and is the most powerful personal journey.

What skills did you apply in order to find the right people for the project and how do you keep them coordinated, motivated and indulged?

When you join a startup, like Seedstars World, it is crucial that you believe in the project. If not it can become the most painful and frustrating experience. It is so demanding that it better be your passion! We really try to find a cultural fit with our new members. The people that surround you will define you, so it is important that we respect one another and believe in one another. Overall we look for entrepreneurial, open-minded, performance driven team player.

Because it was important for us to scale, we had to manage the complexity of growing a team in remote, from all corners of the world. Where it becomes crucial to master "remote" is in how to keep the team motivated. For this, we have put in place tools, sessions and meet ups that support the team and create a feel of community. In the end, however, this is where we see that recruitment is fundamental as we also build motivation by finding the right mindsets to join our crazy journey.

Is the selection criteria applied in selecting the 12 best startups in each individual country, the same for all countries or do you make adjustments accordingly?

Absolutely. It is important for us to have homogeneity in the selection process. The application process is the same in each city. This is why it is so important for us to have a Seedstars World member present at each local event and we have put in place a standardised process to ensure a certain quality at each event.

It is clear that certain cities have a better competitive edge than others due to the maturity of the ecosystem, which translates in the quality of the pitches and business models. However I am not a believer of quotas, I believe it is best to support at the root, so we are working closely with our local partners and ambassadors on providing more in depth initiatives (workshops, training sessions, hackathons, etc.) to support the local scene. I hope that we can also systemise these models.  We also have an objective to build physical regional hubs in each continent in order to verticalise our efforts.

How do you deal with challenges associated with cultural differences in the context of time, productivity, long- and short-term orientation? Do you have a feeling that you are well integrated in all countries?

One of the most important lessons I learnt during the first world tour was that 99.9% of people are here to do good. Generally speaking, we have always felt extremely welcomed in all the countries that we have visited.

In terms of doing business, there is definitely a cultural gap (and this is stronger in certain regions). We have made cultural mistakes and had tougher times in getting our message across. However, all our partners speak a universal language, which is that of entrepreneurship. We strongly believe in entrepreneurship as one of the drivers to bringing sustainable growth in each of our regions. So our collaborations are win-win and by default doing business and supporting one another makes sense.

We have also experienced these cultural clashes and differences within our team. But I believe that this is also our biggest strength, so we are taking the time to master our uniqueness on a day to day basis.

There is only one winner among 55 finalists, what do you do for other 54 startups with great ideas?  And what is your advice for aspiring candidates?

There is one global winner who will receive up to USD 500K in equity investment, but we have added new investment tracks and prizes this year. The best travel startup will receive up to USD 500K in equity investment from lastminute.com group, the best Fintech startup will receive up to USD 500K in equity investment by a top financial institution (to be announced), and the best space startup will receive a USD 50K grant powered by Inmarsat and AP-Swiss. We are also lining up a number of other prizes such as the Women Entrepreneur or Innovation Prize.

For all the other startups, on top of having access to our investor club, they will be part of an international network of entrepreneurs, investors and accelerators. Many of our alumnis have seen greater value in our network than in the opportunity to receive funding.

We also invite all the winners for one week to Switzerland so that they can participate in a 3-day bootcamp where mentors and advisors from all over the world will come and support us in training them.

Finally, something I did not think was that important, we have become a sort of "PR Agency" for the Seedstars World entrepreneurs. Thanks to Seedstars World's coverage, they are no longer "under the radar". This has helped get a voice, credibility and has connected them with potential partners, investors and recruiters. 

Advice for start-ups

Don't ever underestimate the opportunities and talents in your region. 2015 is the year where emerging markets take ½ of the global GDP. Be proud and think big!