South Summit is the leading startup conference in South Europe that offers a unique platform to showcase the world's leading talents, innovations, and opportunities. Each year, South Summit brings together the most promising startups from not only South Europe, but also the Mediterranean and Latin America, with top-tier investors and international corporations. The week-long events that take place include conferences with inspirational speakers from leading industries, over twenty workshops dedicated to startup success, startup competitions within various sectors, and social gatherings in the evenings.
This year, South Summit was held in Madrid starting October 7th at the Plaza De Toros De Las Ventas. I had the privilege to attend through the IE Business School and chose Thursday's afternoon focus on technology within the fashion industry. The highlight of the afternoon was a FashionTech award being granted by Glamour magazine. The award would be given to the startup that not only used innovation and modern business tactics to improve fashion, but most adequately improved the experience for both producers and consumers.
Speakers included Alicia Parro of Glamour, Cristina Lopez Pancorbo of Adolfo Dominguez, Natalia Gamero of Conde Nast, and Maria Eugenia Giron of Megadvice amongst others. The line up of speakers was a successful mix of designers, and entrepreneurs, both novice and highly experienced within this booming sector of technology in fashion.
Congratulations to Style Sage for winning the FashionTech Award by Glamour! This startup provides a platform where companies can monitor their brand, collect organized and useful data, receive insights and strategies, and acquire information on competitors that will lead to increase in sales.
The best advice I received from the speakers stated that there is a lot of mention of "funding" in new businesses when in reality a lot of money is not needed or essential at the start. On the other hand, there are a lot of benefits from beginning with a very small pool of money. It not only lessens the pressure from outside "bosses" directing your company, but it also forces you to be cheap in your ways and creating the habit of growing gradually- something that is crucial to any business. In conclusion, try starting with limited money and do not be afraid to ask from family and friends. Be your own boss. Take your own risks, and propel your ideas forward. The big money will then come.