Silicon Valley Tech Business sets up a European HQ in Tenerife
This week the first Silicon Valley Tech Company has set up its European HQ in the Canary Islands. The Company has been brought to the islands by local Entrepreneur Christopher Pennington Founder of Pennington Sinclair Capital, and owner of local Intellectual Property Consultancy Capital Investment Canaries S.L
Our Silicon Valley client has just raised 5 Million in Start-Up funding
Also this week as a wonderful coincidence of timing, Nolan Bushnell, a pioneer in the world of video games and Atari founder, said “that if he were to start a business today he would not recommend to start it in Silicon Valley, but in the Canaries”
This public comment was made at the closing conference of the day at Tenerife Startup Party, organized by the Scientific and Technological Park of Tenerife (PCTT), where two Canaries innovative projects were winners: Easy on Pad and Blogster app.
In his speech, Bushnell added that his reason for his statement was due to the Canary Islands Tax Benefits, which support entrepreneurs and Tech Companies on the islands as opposed to environments such as Silicon Valley "which are no longer really supportive to Tech Entrepreneurs". "There, investors are only interested in projects that have already billed a million euros," he added.
Nolan Bushnell declined 25% of Apple from Steve Jobs
He went on to say that somewhere in the Canary Islands "could be the next Steve Jobs", who offered him 25% of Apple, but he declined. He also said that on the archipelago there exists a "tremendous" opportunity and that the islands have a "very promising" future.
During the day, Nolan Bushnell gave an overview of his career as a creator of the first consoles company in the world. He also recalled that he has founded more than 20 companies after Atari and proceeded to give some advice to entrepreneurs.
Entrepreneurs are born not created
He insisted that there are two types of people: "those who are entrepreneurs and those who are not. If you are not an entrepreneur, you cannot be created."
In this regard, he said that for the many entrepreneurs who ask for funding he first asks how many companies have they managed before. "If they tell me that this is their first for which they are asking for funding, I immediately tell them NO - because an entrepreneur always has an initial project that started, selling lemonade or, as in my case, selling strawberries" Bushnell said.
At present, the pioneer of video games market predicts that there is much about the "criptodivisas and coins that enable encrypted transactions without a trace on the network", but criticized the current bitcoin model because it takes up to ten minutes response in a purchase and this has to be much more dynamic, he said.
“The Canary Islands has many advantages to doing business here. In my opinion it offers the best environment in Europe to start a global business.
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Credits for the statement by Nolan Bushnells can be found on the Spanish article in http://eleconomista.es/