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Spotify: CEO wants to invest 1 billion euros in European startups

In parallel to his battle with Apple, it was at an online conference on Thursday 27 September that the CEO and founder of the music streaming platform Spotify, Daniel Ek, pledged to invest 1 billion euros in European startups.

Daniel EK, CEO and founder of Spotify, wants to help bring out future European unicorns

With a fortune estimated at 3.1 billion euros, this is a commitment to the tune of one third of his personal fortune. Spotify’s boss explains in the video that he plans to spread his investment over 10 years, and that it will primarily target European companies with ambitious technologies facing profitability problems. He cites the fields of health, education, artificial intelligence, biotechnology and energy. “We all know that one of the biggest challenges is access to capital. And that’s why I’m announcing today that I’m going to spend 1 billion euros of my personal resources to enable the builders’ ecosystem to grow.” He said he would achieve this by “financing so-called moonshots, focusing on the deep technology needed to make a significant positive break, and working with scientists, entrepreneurs, investors and governments to achieve this.”. By announcing that he wants to put a billion on the table, Daniel Ek clearly wants to help the Old Continent propel its own giants, by preventing them from either leaving the ship to go to other horizons: “Some great talents in the making end up leaving Europe because they do not feel sufficiently esteemed or accompanied here. Yet we need large, innovative companies that raise the bar and inspire entrepreneurs. » He also expresses some frustration that some entrepreneurs prefer to sell a concept rather than develop a cycle of maturity with an idea they have carried: “European entrepreneurs give up their prodigious visions by selling very early in the process. We need more great companies to raise the bar and be able to act as an inspiration. There are many, many really exciting areas where there are tons of scientists and entrepreneurs in Europe right now. » Its criticisms also focus on the fragmentation of the European market when it comes to supporting national projects. The lack of an ecosystem at the continental level thus undermines the emergence of tech powers able to compete with the American and Chinese heavyweights. According to him, American structures are generally able to complete tables 2 to 3 times larger than their European equivalents thanks to more harmonious financing mechanisms. To step up, Spotify’s CEO is calling for cross-stakeholder collaboration:
« Europe needs more super-businesses, both for the ecosystem to grow and prosper. But most of all, I think that if we want to have a chance to tackle the infinitely complex problems that our societies are currently facing, we need different stakeholders, including businesses, governments, academic institutions, non-profit organizations and investors of all kinds, to work together.”. In the same category

Europe must put in place a unified digital policy in order to compete

The outlines of Daniel Ek’s speech echo several bell sounds. Recently, Nick Clegg, Facebook’s vice president of global affairs and communications, said in an op-ed: “What worries me a little is that while European policy-makers are rightly talking about digital sovereignty and new regulations – much of which, I am sure, is well founded and well placed – in the end, the main ingredient that would help Europe compete with China and America is to finish an old project and not to start a new one. And it is the creation of this unfinished digital single market. » European digital collaboration, a theme that has also taken hold of the political sphere in recent times. On 16 September 2020, european Commission President Ursula von der Leyen detailed the plan to put digital technology at the heart of Europe’s economic recovery from the coronavirus crisis. A total of 150 billion euros will be spent on digital projects. The goal? Bridging the European digital divide. Nevertheless, some European unicorns are starting to make their mark. Swedish fintech Klarna has just become the first European fintech to exceed the 10 billion euro valuation. In total since 2015, more than $90 billion has been invested in tech start-ups in the Old Continent.

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New OnePlus 9RT: Specs, launch date, colors revealed

OnePlus hasn’t said how much RAM the 9 RT will feature, however Geekbench has shown that it will sport 12GB of RAM. However, an 8GB variant will almost certainly be available.

Shenzhen [China]: The OnePlus 9 RT’s launch date and specifications have been revealed by OnePlus ahead of its official announcement.

According to GSM Arena, the OnePlus 9 RT will go on sale in China on October 13, or next week.
Although the new OnePlus smartphone will be unveiled in China first, it is expected to make its way to India as well. In India, the OnePlus 9 RT has yet to be announced.

The Snapdragon 888 SoC will power the OnePlus 9 RT, which will be paired with LPDDR5 RAM and UFS 3.1 storage. It will have a 120Hz E4 screen and a 4,500mAh battery that will charge at 65W. The primary camera on the 9 RT will be 50 megapixels.

OnePlus hasn’t said how much RAM the 9 RT will feature, however Geekbench has shown that it will sport 12GB of RAM. However, an 8GB variant will almost certainly be available.

The phone maker also revealed that the 9 RT will be available in two colour options: black and grey, and that pre-orders will begin on October 13 in China, with the first sale on October 19.

We’re still four days away from the launch, so expect more information regarding the OnePlus 9 RT in the days leading up to it.

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Meaning of CEO, COO, CFO, CIO, CTO and CMO: Calling each executive by name

The adoption of business terms and technicalities from English-speaking organizations is increasingly widespread, and acronyms that describe executive positions are often favorites when used by those responsible for the areas of the company. The use of acronyms such as CEO, COO, CIO, CTO and CMO has become widespread, both in more traditional organizations such as startups and other technology-based companies.

But what is the meaning of these acronyms?

If we pay careful attention to its definition, we will see that the meaning of CEO and the rest of the management figures of companies are much simpler than you thought.

What is the CEO of a company?

The CEO of a company is the acronym corresponding to the acronym for Chief Executive Officer, which in Spain we usually know as CEO or Executive Director. He is the head of administrative management and direction in the company.

Who is the COO?

It comes from the Chief Operating Officer and can be translated as Director of Operations or Chief of Operations, responsible for the daily operations of the company such as production, logistics, etc.

What does CFO stand for in English?

CFO is the abbreviation for Ch IEF Financial Officer. In our business culture it corresponds to the Chief Financial Officer and his responsibility is the economic and financial planning of the company based on the objectives established by the board of directors, generally made up of those responsible for each area that we are analyzing in this post.

What is the CIO of a company?

It comes from the acronym for Chief Information Officer. Their role is attributed to the person responsible for the company’s information technology systems and usually falls into different professional profiles depending on the organization’s structure. Thus, the position of CIO may be the counterpart of the systems manager, although there is ambiguity in its implementation and it is often confused with the CTO, which we explain below.

What does the acronym CTO stand for?

It is the abbreviation of Chief Technology Officer and it is usual to give it the same treatment as the system manager in an erroneous way by many companies. The main difference is that while the CIO is responsible for the company’s information services at the process level and from the planning point of view, the CTO is the technical person in charge of the development and correct operation of the information systems from the point of view of execution.

What is a CMO in a company?

It corresponds to the acronym of Chief Marketing Officer and its translation in our business language is that of Marketing Director as the head of sales and product development, among other functions.

Its application in practice is different according to the structure of each organization, and there may be various combinations in the hierarchy of these executive positions. In general, the meaning of CEO of the company falls on the highest part of the organization and has as subordinates the executives responsible for each area, who report directly to this CEO to make his decisions. However, in other organizational models, the position of CEO held by its president as the visible image in communication and public relations of the company, delegating the highest decision-making authority to the COO.

The meaning of CEO extends

This definition nomenclature of executive positions in companies does not end here. Many of these terms did not exist a few years ago, and the increasing specialization of departments in large organizations gives rise to new positions, which after the meaning of CEO and the other positions that we have seen evolve into new figures such as the CSO (Chief Science Officer), CCO (Chief Commercial Officer), CLO (Chief Legal Officer) among many other definitions of executive positions.

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Coworking: Need or Opportunity?

Many times when it comes to undertaking we see that there are a great multitude of impediments that stop our initiative.

One of the most obvious, especially in times of crisis, is financing. That is why a work modality called coworking has proliferated in Spain for a few years. But what is coworking?

The foundation of coworking is to bring together professionals from different fields in the same space where they can develop their activity, which means significant cost savings. In other words, it’s like having roommates with whom you share expenses.

Surely, you have heard a friend talk about a coworking space, collaborative work, cost savings, … So far great, but the philosophy that underlies this type of work is even broader. The work tends to be increasingly multidisciplinary and many times, as entrepreneurs , we cannot cover the requests of a potential client.

We are going to put an example. Let’s imagine that we are a freelance professional specialized in Online Marketing and we have several accounts as a Community Manager.

As you are self-employed, but you are not motivated either by being in your pajamas all day locked at home listening to music, or worse, some gossip program that they give in the morning on TV – not to mention going to work in a library where the WIFI is slower than on your first Smartphone – you decide to try a coworking space where you have all the comforts for a small price and from which you can always “run away” if things don’t go well for you.

One fine day comes the opportunity to create a Social Media plan for a company. Within this Plan the creation of a corporate blog, the creation of videos,… to which you obviously answer: “no problem!” Is contemplated, since it is an opportunity that you cannot miss.

Once you dismiss the client, you sit in your chair and a cold sweat starts to run down your forehead thinking “now how do I do all this?”

From its programming, database creation, corporate identity creation … to the creation of promotional videos and a long etcetera.

Suddenly you raise your head like a meerkat in the African savannah and you see Nika, that nice girl who is a web designer and a little further on you see Alfon, that “compi” with whom you go out for beer on Fridays when you finish ” currar ”and it turns out that in addition to working as an illustrator, he has a hobby which is making videos, especially for his friends, and on top of that, it’s really good!

Et voilá! You already have a fully qualified team to carry out your project… and who knows if a future company. This idea is what underlies the coworking philosophy : Being able to create flexible collaborative environments that adapt to the needs of projects or clients.

Obviously, cooperative work has its advantages and disadvantages. Creating a multidisciplinary team for a project can be complicated, since managing the team is not an easy task when the participants do not share a mutual philosophy or common goals. Therefore, it is important to create a team that complements each other both on a human and professional level, and above all that wants to move the project forward.

From my own experience, if you want to develop your own project and do not have funding , it is better to make it very clear to the participants the delivery times and what their role in the team is. Otherwise, you will end up spending more time trying to coordinate people than working directly on your project.
“Luck is what happens when preparation and opportunity meet and merge.” Voltaire

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