Passion for entrepreneurship has inspired us to create Foundum. We believe in entrepreneurs as they have the greatest potential to drive, change and positively influence economies & societies.

Tag: Entrepreneurship

Venturepreneurs Pitch Contest 2012

Thursday, September 27th, 2012

We’re thrilled to announce that the Venturepreneurs’ Organisation will be conducting its first “Venturepreneurs Pitch Contest 2012” which will take place on Spain’s beautiful island of Mallorca on the 18th of October 2012.

A quick background for those not familiar, the Venturepreneurs’ Organisation is a structured ecosystem of serial entrepreneurs who also act like venture capitalists and provide seed-stage investments in European startups. The Venturepreneurs share their knowledge and experience, create high-quality deal flow, foster growth and generate co-investment opportunities and business contacts.

For the first time ever, innovative startups with an international vision and expansion plan will have the chance to pitch directly to the Venturepreneurs to receive funding, guidance, and key introductions into an extensive international network.

How does it work?

1. The startup must have a need of up to €300.000 of funding for their seed investment round.
2. Register at and complete your entrepreneurial and startup profiles.
3. Insert your seed investment as a Need in your Profile (Private Investor/Equity).
4. Apply through if you’re interested or tweet “@Venturepreneurs @Foundum I want to pitch!”

The top 3 Startups will then present their projects in front of the Venturepreneurs on the island of Mallorca on October 18th. The winner will receive up to €300.000 of Funding! Deadline to apply: 08.10.2012!

We’ll announce the 3 selected startups on 11.10.2012!

Being able to pitch your idea in such a beautiful environment should encourage every entrepreneur to apply! Stay tuned for more information and fill out your “Funding Needs”! We look forward to your tweets and emails.

We wish you the best of luck to get into the top 3!

Launch of the Madrid Ecosystem

Friday, September 21st, 2012

It’s official, the Madrid Ecosystem has gone live! This is a big day for the Foundum team and our Madrid startups as they finally have an Ecosystem of their own. Madrid joins Barcelona and Mallorca as Spain’s premier Entrepreneurial Ecosystems and it couldn’t come at a more exciting time!

Apart from being the capital of Spain, Madrid plays host to a very active and flourishing entrepreneurial scene. Long considered the financial center of southern Europe, Madrid is fast becoming a hub for innovative startups seeking access to a global network and offers huge potential to both local and international tech entrepreneurs.

To celebrate Foundum’s newest Ecosystem, the official Madrid Ecosystem Launch event will take place on Wednesday, October 10th, 2012. Stay tuned for more event information and the official announcement as the date approaches.

For now, we welcome you to explore our newest ecosystem and invite your network of entrepreneurs, advisors, service and funding providers to help it flourish.

Now we just need to decide who to root for when Real Madrid plays FC Barcelona….just kidding :)

Roland Berger & IESE recognize the importance for Entrepreneurial Ecosystems

Wednesday, January 13th, 2010

It appears that Europe is lagging behind their Lisbon objective to become “the most competitive and dynamic knowledge-based economy in the world”. Innovative start-ups and entrepreneurs are crucial for the economy as they are the job and new growth creators.

Roland Berger and IESE Business School tried to find answers to the question how Europe can successfully stimulate knowledge-intensive start-ups learning from world-class European ecosystems. 1.000 entrepreneurs from 57 countries participated in their new study  “For Entrepreneurs, By Entrepreneurs” examining the mechanisms behind stimulating entrepreneurship.

The authors found that the key to fostering and accelerating knowledge-intensive entrepreneurship is to forget the idea that entrepreneurs are exceptional individuals who work alone, and focus on building more and better “ecosystems.”

The value of the ecosystem
Start-ups thrive specifically in ecosystems that provide the necessary support. The study cites IESE Business School and Delft University of Technology in the Netherlands as examples of successful ecosystems. Within an ecosystem, start-ups and corporations can interact and mutually benefit from each other’s knowledge and connections. In an entrepreneurial ecosystem (e.g. Silicon Valley ), entrepreneurs have immediate access to coaches, supporting professionals in different business areas, as well as a network of customers and companies with whom they are in frequent contact.

The study distinguishes between two levels of networks within an ecosystem: the “open network,” through which entrepreneurs get in touch with customers, suppliers and other supporters; and a “closed network,” with whom an entrepreneur shares his or her ideas and worries, in order to receive immediate advice or feedback. Considering that 90 %  of initial business plans are adjusted before becoming successful businesses, fast, critical and expert advice is a crucial element in the entrepreneurial process.

Main hurdles in setting up a company
The study identifies a start-up’s main hurdles and looked at possibilities how to stimulate and foster knowledge-intensive entrepreneurship.

1. Contacting and contracting clients
Getting to know their customers before starting a successful business is the Number 1 hurdle for 57 % of the interviewed entrepreneurs.
2. Acquiring resources
44% indicated sufficient fund raising as their main obstacle such as finding and contracting the right suppliers.
3. Building a team
Adding experienced people to the team is a major driver of success. Firms that add experienced people to the team think bigger, act faster and make more use of industry contacts,” the authors stress.

Six key insights leading to entrepreneurial growth
After assessing the hurdles, the authors highlight six key insights to building high-growth firms:

1. Entrepreneurial behavior is developed through personal and interpersonal competencies. Good entrepreneurs need more than business skills – personal competencies such as creativity, determination, integrity and self-criticism will enable entrepreneurs to make the right decisions in matters that are beyond his or her knowledge.
2. Ecosystems allow entrepreneurs to develop their initial ideas more quickly and, using feedback from networks, validate their business ideas.
3. Corporations can provide vital business know-how to start-ups, but can also benefit from the product, service and process ideas by participating in the start-up ecosystem.
4. Ecosystems create entrepreneurs by validating that one has or can develop the capabilities to start a firm.
5. Government support of ecosystems and start-ups should be faster, more targeted and less bureaucratic.
6. Knowledge centers, investors and business service professionals should take the lead in setting up platforms for interaction to facilitate the development of ecosystems.

This study gives further evidence of the importance for strong entrepreneurial ecosystems and validates the significance of the concepts and projects developed by Foundum.