Relocation to Spain: Ticket to Y Combinator. Strategy or lottery?
- Anastasia Maslo
- Oct 19, 2024
- 3 min read
Getting into a top gas pedal is the dream of many startups.
Y Combinator, 500 Startups, Techstars... These names sound like music to the ears of those seeking rapid growth and investment. But how does one get there? Is it really a lottery or is there a secret formula for success?
The answer is: it's a strategy with lottery elements.
While there is no guaranteed recipe, relocating to Spain and following certain guidelines greatly increases your chances. Let's go into more detail.
What does it take to succeed?
1. Idea that solves a problem:
Relevance: Your idea should address a real problem that people or companies face.
Example: In 2024, startups related to AI, Web3, green technology, cybersecurity are relevant.
Innovative: Propose a new solution or significantly improve an existing one.
Example: Startup DoNotPay is using AI for legal aid, automating processes and making services more accessible.
2. Strong team:
Experience: Investors value teams with expertise in their field and a history of success.
Example: The founders of Anthropic, a startup developing the Claude AI assistant, previously worked at Google on the LaMDA project.
Complementarity: Make sure you have people with different skills (development, marketing, sales) on your team.
3. Traction (proof of demand):
MVP: Develop a minimum viable product and test it in the marketplace.
Example: The startup Rewind offers users to «record» everything they see and hear on their computer so they can easily find the information they need later. They started with an MVP for macOS and quickly gained users.
Metrics: Track key metrics (number of users, revenue, retention) and demonstrate growth.
4. Clear presentation:
Pitch deck: Create a concise and compelling presentation that clearly explains your idea, market, team and traction.
Link: My team and I have developed a cool and easy to understand guide
«The Art of the Pitch Deck», which you can pick up here (click on the link)
Storytelling: Tell the story of your startup in a way that is memorable and evokes an emotional response.
5. Networking:
Events: Attend startup events, conferences and hackathons.
Mentors: Find mentors with accelerator experience and ask them for advice.
Alumni: Connect with gas pedal alumni and learn about their experiences.
Why Spain?
Spain is becoming an increasingly attractive country for startups. Here are a few reasons why relocation can help you get into a top accelerator:
Well-developed startup ecosystem: Spain has many gas pedals, incubators and venture capital funds.
Example: K Fund, Wayra (Telefónica accelerator), Demium Startups.
Government support: The Spanish government actively supports startups through grants, tax incentives and other programs.
Example: The ENISA program provides loans to early-stage startups.
Access to talent: Spain has many skilled professionals in IT and other fields.
High quality of life: Spain attracts with its climate, culture and affordable cost of living.
How relocation will help you get into an accelerator:
Local accelerators: Relocation gives you access to Spanish gas pedals, which can be a springboard to top programs.
Networking: You can meet local investors, mentors and other startups.
European market: Spain is a member of the EU, which gives you access to the huge European market.
Getting into a top accelerator is the result of hard work and the right strategy. Relocating to Spain provides additional benefits. Focus on a strong product, an effective team and active networking. Even if you don't succeed the first time, don't give up!
Want to get into a top accelerator?🔻
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