After a short break, the breakout session “What makes a strong startup leader? How VCs evaluate founders” by Inbal Perlman, Partner at TAU Ventures took place. During the presentation, the essential aspects of the leadership that Venture Capitals focus on when investing were unpacked. Without strong leadership, a venture capital fund will never invest. Some attributes that distinguish this leadership are the founder’s experience and knowledge, passion and charisma, intellectual integrity and self-awareness, as well as professionalism and strategic thinking. It is essential to differentiate between a leader and a manager. The leader will always be focused on the vision and will lead people through motivation, inspiration, and empowerment. Furthermore, a leader will be long-term oriented and devote day-to-day efforts to strategic thinking, always guided by the vision and focusing on the “WHY” rather than the “HOW”.
Before the last plenary session, an exciting dialogue occurred under the title “Money is just the beginning; value creation for startups”. The main takeaways were around value creation. Here, connections play a crucial role, and value creation is supposed to benefit both start-ups and VCs. According to Dorin Baniel, VP Value Creation at Glilot Capital, they form boards through searching social media for profiles that can be labelled as “forward thinkers” and that way add value.
Finally, Adi Yoffe, Founder & Owner of Fast Forward gave an inspiring talk on the main stage. Under the title “Future thinking – how to predict trends in a disruptive reality”.
Megatrends can be the key to glimpsing what will happen in the future since the present can tell us about the past, not the future, and through them, we can see how behaviours change. The future is something that is being invented now, and we should look at it another way, with other lenses, and different perspectives, given that the data is not enough to get a slight idea. It was also interesting to understand the different Visions of the Future. The “Future in pieces” is where services and products are cut into small pieces, as it happens with Tik Tok where we cut the video and gain the ability to choose what we want. We also found the so-called “Future of Re-Appropriation” where we all want to be the Masters of our lives and future. We look for facilitators to achieve it, such as the Metaverse, which should not be understood as a virtual reality tool but as a facilitator to achieve our utopian life.
To round off the Summit, an informal gathering in the form of a cocktail party was held next to the conference room. Here, the importance of networking and networking as a fundamental element in helping to develop ecosystems was once again evident, highlighting connections and experiences as enablers for achieving scale and the development of new innovative projects and experiments by the whole ecosystem.
Contributed: Oriol Pascual, CEO at STAGE2