A digital powerhouse
From the outside, it looks just like its neighbour, the Museu d’Història de Catalunya. Side by side, they are both residents of the elegant Palau de Mar, a 19th-century building overlooking Port Vell and surrounded by restaurant terraces. Yet step inside and you’ll find over 1,000 of the city’s most creative people busying away in huge open-plan spaces. Above each cluster of desks hangs the name of their particular startup, and on the walls are motivational quotes, sales figures and graphs. Impromptu meetings take place over desks and Skype calls are conducted in booths to the side. Those in need of some inspiration, or just a break from this hive of ideas and activity, can head to the terrace at the top of the building and enjoy one of Barcelona’s best panoramic views. Welcome to Pier 01, the newest addition to Barcelona’s fast-growing digital ecosystem.
Opened by Barcelona Tech City in July 2016, after a three million euro refurbishment, Pier 01 is now home to over 100 digital and tech organisations, from venture builders such as Antai (creators of Wallapop and Glovo) and Nuclio, to accelerators and individual startups, such as HolaLuz, Byhours, LetGo and Tiendeo. “Our inspiration is to be found in other international hubs, such as The Factory in Berlin, the Google Campus in London or the Madrid Campus,” says Miquel Martí, CEO of Barcelona Tech City.
Such a hub is a strategic boost to Barcelona’s growing reputation as a digital powerhouse. The city’s startup ecosystem, along with competitive salaries and, for now at least, reasonable property prices, make it attractive to investors and entrepreneurs alike. Lifestyle matters too, and Pier 01’s location in such an emblematic building is no coincidence. Here in this privileged spot by the port, it brings together the many other things that Barcelona has to offer digital entrepreneurs, including the city’s rich history and Mediterranean lifestyle. It’s a potent mixture as Martí recognises: “We’ve shown foreign entrepreneurs around the building and five minutes after leaving they’ve sent a message to say that they want to join Pier 01.”
Created in 2013 as an association open to anyone in the city in the digital and tech business, Barcelona Tech City aims to consolidate Barcelona’s reputation as a reference point in the digital world and to help stimulate its growth. It does this by providing entrepreneurs with support and networking opportunities, and, most importantly for Martí, by recognising that improving skills and knowledge is key to acceleration. With over 500 members, Martí says that what sets it apart from other organisations is its aim to create a value proposition based on what entrepreneurs really need, with a structure that is bottom up rather than top down. Pier 01 is what he calls “startup friendly”, and Barcelona Tech City is committed to staying clear of property speculation—space in the building rents at approximately half the market price.
The diverse mixture of organisations that filled Pier 01’s 10,000 square metres within months of opening has been key to its success, and Martí is adamant that Barcelona Tech City must have a transversal approach, welcoming all industries, from gaming to health, and property to finance. The building is also a melting pot of nationalities, and around 30 percent of the people working here are foreign. Martí estimates that half his day is conducted in English, and reflects that the use of English in Barcelona no longer poses the problem it used to for locals.
The hub is also a place where the worlds of corporate and startup can come together and discover synergies in spaces specifically designed for reflection and innovation, a process Martí describes as similar to matchmaking: “We invite them to meet, let them dance together, and at the end of the evening maybe they’ll fall in love.” So far, the association has attracted a number of big industry partners, including Gas Natural Fenosa, Telefónica and Caixa Bank.
As a place for attracting and growing digital talent, Barcelona has made enormous progress in recent years: “There’s been a big leap forward in the last four years, helped by the Mobile World Congress and 4 Years From Now,” says Martí. “Most importantly, our companies are starting to be successful and to attract more international investors.”
Barcelona is now one of the top five cities in Europe competing for international talent. The city attracts 60 percent of the startup investment in Spain and, through investment rounds and sales, its ecosystem has moved more than 1.3 million euros in the last 15 months. In 2014, companies created in Barcelona turned over more than 6.5 million euros. Asked how he would define the city’s startup scene, Martí says, “In one word, growing”. And Pier 01 plans to be part of that growth. In its short lifespan it has already become an essential stop on the Barcelona tour for national and foreign politicians and for companies thinking of relocating or investing in Barcelona: “Our vision is that Pier 01 can grow as much as our partners want it to. This can be the definitive project that changes the perception of Barcelona.”
NUCLIO: BUILDING DREAMS
One of the venture builders that has made its home in Palau de Mar is Nuclio. Created in 2016, Nuclio counts leading entrepreneur and new technologies investor Carlos Blanco among its four founders and is dedicated to the creation and advancement of startups. Its premise is to create a viable startup business model for the talent that exists in the market.
Barcelona-born co-founder and Chief Marketing Officer Maria Hidalgo joined the project after some years working in marketing and startups. “We look for ideas that work well in other countries and adapt them to the local market,” she explained. “A team is constantly researching other markets, looking mostly at sectors where innovation and rapid growth are possible. The ideas are reviewed every two months by our advisory board to determine which will become reality.”
Nuclio recruits the talent for their startups on Nuclio Weekends. These take place twice a year and candidates have the opportunity to work together and show what they’re made of. Once the team has been selected, Nuclio keeps a majority shareholding of the startup, with each member of the new team taking a percentage. Team members come from all walks of life, from startups to corporate backgrounds, and Hidalgo stresses that the fit of the right person in the right role is essential to a startup’s success. They look for specific skills and abilities depending on the project, and if someone turns out to be the wrong fit, they’ll be moved to a position that better suits their strengths.
The teams are based in Nuclio’s 500-square-metre office where they receive vital support from the Nuclio team who nurture them through the first rounds of financing until they’re sufficiently consolidated to leave and work independently. From the beginning, each member of the team earns a market salary. “We invest a lot of time in supporting and training the team so we only work with four or five startups at a time,” says Hidalgo. Right now these include Housefy, a real estate service that cuts out the agency commission, Brokoli, a one-stop app for insurance, and Eelp!, a personal assistance service that attends to your every need.
Besides the one-on-one support, Nuclio also deals with the practical aspects of running a startup, allowing the team to focus its energy on making the project successful. So, HR, communication, legal and financial services are centralised for all of the venture builder’s startups. Nuclio also helps the CEO of each startup in their search for funding.
Hidalgo sees a bright future for Barcelona’s startup world and notes that in just a few years the city’s digital ecosytem has grown significantly. She herself came back to the city from a stint in Copenhagen to head up Nuclio’s marketing, and her Danish partner was more than happy to make the move with her. Like Martí, Hidalgo considers that alongside a thriving tech industry, the city’s attractiveness for foreign entrepreneurs is an important factor and right now, she reflects, it seems to have it all.