Welcome to this insightful interview with Xavier Arola, Head of the Careers, Alumni, and Entrepreneurship Center (CAEC) at GBSB Global Business School and the Director of G-Accelerator. Xavier Arola is a seasoned expert in strategic business and financial consulting, renowned for his extensive experience in project management, venture building, and his role as an advisor on strategy and resources for the Generalitat de Catalunya.
Throughout this conversation, we delve into the evolution of G-Accelerator from a local initiative at GBSB’s Barcelona campus to a successful international project. We’ll explore the comprehensive benefits that academic environments provide to budding entrepreneurs, from cutting-edge resources and structured programs to a culture that promotes risk-taking and continuous learning. Xavier will also discuss how G-Accelerator is pioneering the development of businesses that are not only profitable but socially, economically, and environmentally sustainable. Join us as we uncover the strategies behind effectively translating academic knowledge into successful, real-world business ventures that make a global impact.
What are the benefits of learning entrepreneurship within an academic environment?
Firstly, students gain access to a wealth of resources, including research, case studies, and practical tools, which enhance their entrepreneurial knowledge and skills. Secondly, the structured nature of programs based on cutting-edge academic methodologies provides a framework for aspiring entrepreneurs to develop a strong foundation in business fundamentals, strategic planning, and ethical decision-making. Additionally, the academic environment fosters a culture of experimentation, risk-taking, and continuous learning, encouraging students to explore and validate their ideas in a supportive and intellectually stimulating setting. Overall, learning entrepreneurship within an academic environment equips students with the necessary competencies and confidence to succeed.
What prompted your business school to establish a startup hub? What was the starting point for G-Accelerator?
The G-Accelerator project was established at GBSB Global Business School’s Barcelona campus in 2018 in response to the growing interest among students in entrepreneurship and the creation of their own startups, particularly those centred on sustainable and socially responsible ventures. Recognizing our students’ desire to innovate and reshape conventions, we observed their readiness to tackle challenges and build businesses that make a difference. Thus, G-Accelerator was developed on the foundation of our Career, Alumni, and Entrepreneurship Center and was inspired by the students themselves.
The year 2020 marked a significant milestone as we secured public funding from the local government in Catalonia and the European Social Fund. This financial support paved the way for the evolution of our program into ‘Impact Call,’ a comprehensive six-month pre-accelerator initiative.
How does this program work?
The Impact Call is open to the entire entrepreneurial community. While GBSB Global students and alumni enjoy a fast track in the selection process, we also offer opportunities to other applicants. These include local citizens, expatriates based in Spain, and individuals from other countries who are willing to start their businesses in Catalonia. We assist participants throughout their entrepreneurial journey, from idea generation to developing a go-to-market strategy, ensuring business readiness, and formulating funding strategies. G-Accelerator distinguishes itself by focusing on cultivating the next generation of entrepreneurs with innovative and disruptive ideas. These ideas aim to create a ‘Triple Impact Business’ in the region of Catalonia. By emphasizing social, economic, and environmental sustainability, the program nurtures ventures that contribute positively to society while ensuring long-term profitability.
Could you elaborate on the selection process for the G-Accelerator Impact Call Program and the partnerships?
To be selected, projects must demonstrate a clear Triple Impact dimension and align with the SDGs of the Agenda 2030. These include verticals such as sustainable business, circular and proximity economy, sustainable cities and communities, health and well-being, responsible production and consumption, and quality education. We evaluate them based on innovation, impact, scalability, potential, and team composition.
We have established partnerships with prestigious academic institutions, public entities, the the private sector focused on impact ventures and funding, and local business organizations. These include The University of Vic – Universitat Central de Catalunya, our official partner, The University of Northampton, and the Institute of Social Innovation and Impact, which lends its expertise in social entrepreneurship. Our international partner, Enpact, provides entrepreneurs with access to international ecosystems. Each partner contributes significantly to the program’s success.
How does the G-Accelerator Impact Call Program provide practical support to participants, what are the main advantages?
Throughout the 6-month program, participants receive extensive training totalling 230 hours, coupled with 280 hours of invaluable mentorship. The program also facilitates networking opportunities with successful professionals, entrepreneurs, and key stakeholders in the entrepreneurial ecosystem. Furthermore, winners of each edition receive additional financial support in the form of extra mentoring hours. This support helps them enter the acceleration phase of their project equipped with a go-to-market and fundraising strategy, ensuring the success of their projects.
How successful has this program been since you started?
Despite being a relatively young project, since its launch, the program has received over 600 applicants, selected 34 promising projects, and worked closely with 62 beneficiaries from around the globe. Notably, the program has facilitated the establishment of three new legal entities and showcased innovative projects at prestigious events, such as the Generalitat of Catalunya and ACCIÓ stand at 4YFN during the Mobile World Congress. We were very impressed with our 2023 participants, and the winning projects could really change the lives of people not just in Catalonia, but far beyond. One such example is ORGAN2L.
How does the G-Accelerator program connect entrepreneurs with the business school environment to enhance their learning experience?
We provide aspiring entrepreneurs with a unique opportunity to bridge the gap between academic knowledge and real-world entrepreneurship. By integrating this program within the business school environment, students gain access to experienced mentors, industry experts, and a supportive community that fosters creativity, innovation, and collaboration. This hands-on approach to learning entrepreneurship within an academic setting enables participants to apply theoretical concepts to practical scenarios, receive constructive feedback, and develop essential skills for successfully launching and managing impactful ventures.
Do you see perspectives for expanding G-Accelerator Program internationally?
While our primary focus is on fostering entrepreneurship and impact ventures in Catalonia through the Impact Call, we are actively exploring opportunities to expand our initiatives to other regions. GBSB Global Business School operates campuses in Barcelona, Madrid, and Malta. Currently, in Malta, we are striving to establish connections, search for new partnerships, and expand our local network. This strategic approach allows us to assess the feasibility of replicating the program in Birkirkara, where our campus is located. Our aim is to provide Maltese students and local aspiring entrepreneurs with the support they need to launch successful impact-driven ventures.
By the way, we still accept applications for Impact Call 2024, so I encourage everyone dreaming of a startup in Spain to submit the application and try their way to international entrepreneurship with G-Accelerator.
Read the orginal article: https://www.eu-startups.com/2024/04/scaling-a-local-startup-hub-to-a-successful-international-project-through-education-sponsored/
