Meet Luis and Roble
Q: Can you briefly introduce yourself and your startup, please?
A: My name is Luis, the CEO, and co-founder of RobleAPP. Although Startup Wise Guys invested in us and we were accepted, RobleAPP has been acquired by another startup in the Silver Economy, Vilma. Now, I’m the Chief Revenue Officer of VILMA. We focus on promoting healthy aging through cognitive and physical exercises and socialization opportunities for the elderly. We offer an app and a website, reaching out through a B2B approach, catering to corporates like banks, insurance, and socio-sanitary companies providing elder care homes and telecare services.
Q: How did you come up with this idea?
A: Yes, Paolo, my friend, and I were the two founders. We had previously started a company in 2014 related to this topic, driven by our family experiences. Take my grandfather, for example. Upon retiring at 65, his main pastime was sitting on the sofa, watching television. We witnessed how this sedentary lifestyle took a toll, deteriorating both his mind and body, leading to miserable conditions in his last 15 years. That struck a chord, prompting us to ask: “What can we do to keep seniors motivated after their retirement age?”
Why Startup Wise Guys?
Q: What motivated you to join Startup Wise Guys?
A: I vividly remember that moment. We had an early MVP with some metrics, and we had just shifted our strategy from B2C to B2B. A friend recommended applying to Startup Wise Guys, given our strategic shift and immediate funding needs. That dual urgency led us to the decision to apply.
Q: Can you describe the application process?
A: The application process was unique for us. Initially accepted into another program starting in two weeks, I reached out to Cristobal Alonso, CEO of Startup Wise Guys, expressing the need for a quick decision. What stood out was their personal touch and flexibility. Despite their standard one-month evaluation process, they adapted for us, condensing it into one week of intensive interviews with their team, challenging every aspect of our business. It was unconventional but intense. They didn’t move the deadline but adapted their decision-making process to accommodate our tight schedule.
Q: So they deliberately shortened the waiting period for you? Can you share your thoughts on that?
A: Some established organizations might take it personally when startups explore other options, but Startup Wise Guys showed remarkable character. They didn’t mind and went out of their way to accommodate our needs, displaying a lasting impression of humility. Despite their substantial growth and structure, they maintained a personal touch and flexibility, which is a great point for me. It’s remarkable how they balance growth with maintaining those qualities. Simply fascinating.
A Day in the Life of a Successful Applicant
Q: Can you describe a typical day once you entered the program and what it looked like?
A: A year ago, when we finished the program in July 2022 (accepted in January), it spanned four to six months. Initially, we defined key objectives with them. Throughout, they put us through a process where, with their mentorships, we underwent a 360 analysis of every aspect of our business. It involved challenges and analyses of sales, marketing, fundraising, and product development. The structure included two live sessions per week, both online and in-person, when we relocated to Estonia for a month. The sessions with different mentors included assignments, challenges, and ongoing support, creating a dynamic and intense learning environment.
Q: Did you receive any funding during the program?
A: Yes, we received an initial 55k, with an option for an additional 25k, which they indeed invested. A year later, post-program, they are considering another small investment. They’ve remained engaged and supportive in our fundraising efforts.
Q: Were the funds given in exchange for some equity?
A: Yes, but the equity details depend on negotiations and the startup’s stage. It’s a flexible aspect that varies.
Roble’s Highlights with Startup Wise Guys
Q: Can you share any significant milestones achieved during the program?
A: Our primary focus was on sales, and they were instrumental in providing introductions and mentorship, particularly in our main focus area, Spain. Although we didn’t close deals introduced during the program, their value lay in the support and interest they provided. While those specific deals materialized later, their help was crucial. Additionally, the follow-on investment they committed to, although optional, demonstrated their continued belief in our journey.
Q: Was closing deals one of your challenges? Can you think of any other challenges you overcame and where the program sort of assisted you with overcoming them?
A: The two predominant challenges, common to many startups, were sales and fundraising, especially in the silver economy. While the demographic appeal of healthy aging is evident, convincing venture capitalists was tricky due to the market’s lack of clear success stories. Startup Wise Guys proved invaluable, not just by investing but also by facilitating introductions. Their support extended to the sales front, connecting us with various insurance companies and banks in Spain.
Q: You’ve mentioned the acquisition by Vilma. Can you elaborate a little on the current status of the company post-accelerator and what achievements you have unlocked so far?
A: Yes, Vilma was one of our main competitors in Spain. Engaging in conversations about the industry challenges and the formidable fundraising landscape, we decided, after four or five months of discussions, to join forces. This move positions us with a stronger product and better fundraising options. We’ve secured deals in the social sanitary sectors and partnered with an insurance company in Spain. Our primary goal for this year is to achieve breakeven.
Q: In terms of the startup’s growth trajectory, has it changed since completing the accelerator program, would you say?
A: The accelerator program was pivotal in channeling our efforts in the right direction. In the early stages, with a vague MVP and an unclear go-to-market strategy due to experimentation and pivoting, Startup Wise Guys provided the necessary structure and assistance. Not just for the sake of saying it, but having been in other programs, I can confidently state that Startup Wise Guys is the most professional, helpful, and prompt. Their support is unparalleled—any question, and they respond within 24 hours. It’s a level of support every founder dreams of having.
Q: You’ve discussed upcoming milestones, especially in terms of funding. Can you elaborate a bit more on your next funding milestones and how they connect with the accelerator experience you’ve had?
A: Certainly, with the recent merger—technically an acquisition—we secured funds from both Roble and Vilma investors. We’ve just closed a new investment round, with Startup Wise Guys participating. This round provides coverage for the next year, maybe a year and a half, and our current focus is on sales. The accelerator experience played a pivotal role in shaping our approach to funding and refining our focus, aligning us strategically for the next phase.
Parting Advice to Founders
Q: Do you have any tips for anyone wanting to apply to the accelerator, either Startup Wise Guys or another accelerator?
A: Having been in various programs, it’s crucial to recognize that no accelerator can solve all your problems or do the job for you. Hard work is inevitable. If I were to recommend one accelerator, it would undoubtedly be Startup Wise Guys. Their flexibility, speed, and well-structured program are unparalleled. They live up to what they promise, providing not only advice but also funding and ongoing support post-program. The proof lies in our experience—having completed the program a year ago, they are still investing in us and maintaining active communication. The tip is to evaluate and not rush into any decision carefully; the wrong choice can be a significant mistake.