Skip to content

Who said it?: “Google, Facebook and the fintech are going to eat the toast to the bank”

Demium is dedicated to incubate the best internet businesses for the Spanish market. Since 2013, it has managed to get 37 of the 40 companies they created to survive. Singularu, Citibox or Cuidum are some of his most recognized successes.

His name is Jorge Dobón (Madrid, 1989) and he is the director of Demium

An internet business incubator, that is, a factory of companies. Since 2013, it has launched more than 40 companies, 37 of which are still active, generating more than 500 direct and 2,000 indirect jobs. Some sell jewelry (Singularu), others look for caregivers for the elderly (Cuidum) and even dare to install smart mailboxes in neighborhood communities (Citibox). It is defined as “business agnostic”, it does not matter where you invest, and try to remember every day everything you learned from your first failure with the sale of gourmet products. A broken dream that left him without a job and a debt of 20,000 euros.

What is the key to this success?

Everyone knows that 90% of startups fail. To avoid this situation, we formed the work teams from the beginning. They consist of different profiles, nothing of three friends with the same career. In addition, we try to land the ideas to what the market demands and we are always participating in the company.

The survival rates of Demium companies reach 78%

What is the key to this success? Everyone knows that 90% of startups fail. To avoid this situation, work teams are formed from the beginning. All have different profiles, nothing of three friends with the same career. In addition, we try to land the ideas to what the market demands and we are always participating in the company.

Do they have an aid program for those who fail?

No, but I like more an unsuccessful entrepreneur than a new one who lacks realism. However, our Human Resources team in the five locations tries to reincorporate these people into new teams because now their chances of success are greater. We failed once in the video game industry, but then we came back as an incubator of our own. The sector of accelerators or incubators, in general, so that their structure format has its own character that is selfish. I am very critical of the accelerators, incubators and venture builders sector because I believe that they bring very little value to the entrepreneur. Most of the accelerators in Spain in the last three years have closed. And the venture builders do a very good job, but I do not think they’re fair to their new partners. I worked for a while on one of them and left. They stay with a very high percentage of each company. In contrast, Demium only participate up to 15%, and the remaining 85% belongs to the creators of the company.

If he were the Prime Minister, what would be the first step he would take?

I would propose a 10 or 20 year plan to dismantle all the civil service of the society. I think that public employment, for a long time, does not make sense. It would be a very unpopular measure, but efficient in the long term. In 40 or 50 years, workers must be self-employed for several companies. The State should not stay with zero workers, but the State seems to me a company with excessive workers.

What advice would you give to the CEO of a bank?

I would rethink much better who is removing my toast. I think that in 10 years Facebook, Apple, Amazon will go a very large percentage of the market. But, not only them, there is also a group of fintech companies for this part of the cake. Therefore, it would create structures in the bank to absorb the innovation of the best startups. Facebook and Google have capitalized on inorganic growth with aggressive acquisitions. But do not do the dismantling policy that Telefónica did with Tuenti.

What did you learn from your time at the University?

I do not believe in the model we have, I studied two careers 0 and finished one (Journalism) at the request of my parents. I do not believe in the titulitis. 90% of teachers in ADE had not set up a company in their life. If we had talked in class about real failures and with entrepreneurs in class I would have learned much more

Recently Valencia has changed for London.

What do you expect to find in the City?

The local talent can be in Valencia, Lisbon, San Francisco or Belarus. What can not be done is to finance these companies and in London many companies from all over Europe are financed. We want to have a presence in the City to raise rounds of 5 to 200 million, which in Spain are never seen, or an unirconio based in Spain.


Also published on Medium.

Published inFintech

Be First to Comment

Leave a Reply

%d bloggers like this: