Tuesday, August 16, 2016

In the Spotlight: Textil Energy – key lessons from an SME never running out of power

Textil Energy is a Valencia, Spain based company which works mainly on solar energy and energy storage systems.

Juan Toribio, the CEO, was fascinated by renewables energies and wished to create a company in that sector. After years of studies, the company Textil Energy became real with the objective of making people self-sufficient in energy wherever they are.

By developing the Brand “ETex”, innovative mobile solar panels for outdoor activities, the company Textil Energy is totally in line with its main mission. These mobile solar panels take many different forms such as solar umbrellas or electric table place cards enabling users of restaurants /bars to charge their electronics devices while sitting in terraces.

This achievement was attained thanks to co-workers and to the support of Universities of Valencia. Universities mentoring was central in providing a main room for Textil Energy in the incubator of the University Polytechnic of Valencia for many years, and in supporting part of the R&D department in the University of Valencia.

In order to successfully integrate the product in the pre-existing market, Textil Energy, had to complete the financial part and build a strong team with various partners. The research for fund is a long-planned process where you need to open many processes at the same time and negotiate them in parallel with various investment funds. The first step is to prepare a good business plan with milestones accomplished and highlight the ability of your company to incorporate your products in the market.

Altogether, the negotiations last for approximately three months during which, you should meet intermediate milestones and provide facilities for potential investors to investigate all they need to know about your company.

The main advice I would give, based on my experience, to other start-ups searching for funding are:

  • Be patient
  • Open many financing processes in parallel 
  • Perfectly know how to sell the strengths of your company
  • Generate feelings with those responsible for investment fund
  • Put the interests of the company before your individual interests
  • Do not neglect the commercial part of your company during the negotiations in the investment process 
  • Once you close a round of financing, you must be thinking about starting to open the following one that will allow you to go further

With this range of products, Textil Energy has quickly grown but the Research & Develop department continue to be a major part of the company in order to constantly propose innovative products to its customers.

The expansion of the enterprise at an international level is nowadays one of the principal project. The CEO and partners are ready to welcome any person who would believe in the project of Textil Energy and would want to invest in.