'Weigh it up, and then just have the nerve to take the plunge'
Felix Van de Maele (24), CEO of Collibra
Young forceful entrepreneurs are not very thick on the ground in Belgium. Nevertheless, these rare birds show that, even in times of crisis, starting your own business can be a great success. “It’s just a matter of wanting it.”
Collibra
- Founded in June 2008 as a spin-off from the Vrije Universiteit Brussel (VUB - STARlab research group)
- Founders: Felix Van de Maele (CEO), Stijn Christiaens (COO), Damien Trog (CTO) and Pieter De Leenheer (Research Director)
- Number of employees: 8
- Field: business semantics management and semantic integration
- Business: Collibra develops business software that promotes clear exchange and interpretation of information, both in-house and between companies.
- Website: www.collibra.com
Collibra
is a start-up software company that specialises in business semantics and is
headed by passionate young entrepreneurs, all under the age of 30. “It’s been
known for quite some time that there’s a demand from industry for people to
interpret electronic data. But a couple of years ago, one of the largest
packaging companies in Europe made very concrete enquiries about a specific
application of business semantics. We decided to take this up and gradually, as
if from nowhere, all the pieces of the puzzle came together. In July 2008,
Collibra was born.” These are the words of one of the young founders of Collibra
and Vlerick alumnus, Felix Van de Maele, who is ready to talk about the dreams
of a young entrepreneur, the risks and the American dream.
When and how did you get the idea to set up a company?
Felix Van de Maele: “After I finished my degree in Applied Computer Science at the VUB in Brussels, I spent six months studying in France and then I went to Argentina for another six months. While I was there I had plenty of time to think about what I wanted to do next. I’d always dreamed about setting up my own business, but never thought I’d be able to. In Argentina I started to read a lot, mainly biographies of successful businessmen, most of them from Silicon Valley. These people have the kind of mindset where starting your own business is perfectly possible. And that’s inspiring. When I came home the VUB was getting requests from industry for practical applications of its semantic technology application research. Four PhD research students picked up on this idea and that’s how we got the ball rolling.”
How much time passed between conceiving the idea and actually putting it into practice?
“The first real talks were in May 2007. We put the idea to our professor, who thought there was something in it. We then gathered some people together and drew up a business plan. I started a Masters in General Management at Vlerick Leuven Gent Management School in September 2007. Over the course of that year we developed the business idea further and we actually set up Collibra when I graduated, in July 2008.”
What at first had seemed a dream had become a reality. How did you manage that?
“When I embarked on my studies, I thought it would be impossible to start my own small business, one that could make any sort of impact in the market, amongst all those big players. But by reading up about it, fostering my ambition and seeing opportunities in the market, I became more and more convinced that any problems we saw could be resolved. Then all that remained was to have the nerve to take the plunge.”
Did your studies reinforce that entrepreneurial mindset?
“I don’t think so. University students aren’t really into entrepreneurship. They’re actually a bit too spoilt for that. They know they’ll get a good job, a car and a nice salary once they graduate. In that situation you don’t think about what more you might be able to do. The dominant mentality at Vlerick Leuven Gent Management School is completely different. Most people there want to start something themselves. It’s certainly encouraging to mix with people who’re thinking along the same lines and who’re also doing something about it, even if you still have your differences. They think much bigger and are much more ambitious on the other side of the Atlantic, and the punishment for failure is not as severe. Here in Belgium, people are much less ambitious. There’s widespread ignorance about what’s possible and too few people give it much thought. When I announced that in three years’ time I wanted to have fifty people working for me, some experienced business people told me that I’d do better to keep my feet on the ground.”
Did your course at Vlerick Leuven Gent Management School help you with setting up your business?
“Our business plan was already done in November 2007, so the course came a bit too late for that, but I found the year was ideal preparation for me for going into business. You get to see a lot at Vlerick Leuven Gent Management School in a short time, and so that’s certainly interesting. At the same time it’s sometimes difficult to translate it to a small start-up, because most of the case studies presented are of large companies. We had classes on corporate finance, for example, but nothing on entrepreneurial finance. You do learn on the course that start-ups can be financed by venture capital and business angels, but it would have been good to have been given rather more concrete details. In fact, every new graduate should have the know-how to be able to set up a business straight away.”
The GUESSS survey found that many students have no idea of the support services available for entrepreneurs.
“I had no idea what opportunities there were for business start-ups. The government has many initiatives and there are plenty of other channels, but you have to know about them. Generally speaking, I think that the flow of information could be better in all higher education institutions, but I also think that the biggest stumbling block is in the students’ own heads. You have no control over that as an educational establishment. All the same you can encourage the students to dare to dream and to try to bring their dreams to fruition. There’s a great quote from Goethe in this context: ‘Whatever you can do, or dream you can do, begin it. Boldness has genius, power, and magic in it. Begin it now.’ You just have to make a start and then the rest will follow.”
What are the critical factors for success when starting a business?
“You have to have something to sell that people want. Then you have to really know your customer, your market and your product through and through. That’s why I believe that the best time to go into business is when you’re young. Specific product knowledge is much more important than a whole load of management experience. You can turn to those around you for that. And that’s why having good people around you is the second critical success factor. Surround yourself with experienced people who can be an example to you and who can advise and assist you. There are plenty of business people and managers in industry who are well-disposed towards young entrepreneurs and really want to help. Go and talk to them. When they see that you really want to have a go, there’s a good chance they’ll jump on board. You’ll get the support, but you have to have the courage to take that step yourself.
“The third important point is transparency. Be open about your agenda and what you want to do. The final key aspect is your willingness to listen. Listen both to your clients and to the people advising you. You’ll be given advice all the time and you have to assimilate it. Not that you should always follow that advice, for the simple reason that there are people with different ideas and different attitudes from you. On the one hand you have to persevere, but on the other you also have to listen. The art is in finding the right balance.”
According to GUESSS, first-year students in Belgium have greater business aspirations than final-years.
“Final-year students are more realistic. If you only look at the chances of success and not at what more you could do, then it’s much smarter to work for someone else. When you’re young, perhaps you’re a bit more ‘naive’, though I wouldn’t want to look at it like that. I think that a little naivety is actually a strength. When we started with Collibra, we didn’t have the faintest idea what lay ahead of us. We simply ploughed on, and in the end things appear out of the blue that complete the puzzle.”
Are young people right to be afraid to take risks?
“In Belgium we’re too spoilt and there’s no incentive to take risks. You have to be able to put those risks in context and then you’ll see that there aren’t that many risks. You also learn far more than you would in any other kind of job and you come into contact with people you’d never otherwise speak to. I’ve brought in money and now I have my reward. In the present economic climate I certainly have more job security than fellow students who’re on probationary contracts, in the sense that my fate’s in my own hands. I also believe that now is the right time to take risks: when you’re young and have no mortgage to pay and no family to take care of. What do those three years matter if it doesn’t work out? Most young people say ‘we’ll take that step later’, but when you’re 35, that seems to me a much less obvious time to do it. You can do it now, provided you have good people around you and you know what you’re talking about.”
What is the biggest worry for people setting up a business?
“Cash. Cash is king. There are a thousand things you want to do but you have a limited budget, limited time and limited resources with which you have to try to achieve as much as possible in the shortest possible time. You have to constantly set priorities and make choices, and hope that the choices you make are the right ones.”
To what extent is innovation important for a new business?
“I think that innovation is a crucial, differentiating factor. If you don’t bring something new to the market, there’s no demand for it or someone else is doing it already. A young company needs to be innovative: a new business model, new technology, penetration of a new market, a new product. It doesn’t matter what it is but it must be innovative.”
What is your ultimate dream?
“We want to be listed on the stock exchange in six years’ time, but we’re still looking for exactly the right product-market combination. We have to develop our product to ensure that it has mass appeal and sells easily. Our target market in Belgium is far too small, so we’ll have to go international. My aim is to make this company as big as possible in as short a time as possible and then we’ll take it from there. Some entrepreneurs find it difficult to let go of their business, because they see it as their baby. We know that we may lose the company at some point. When you take decisions, you must really know what the consequences are. For example, it’s by no means certain that I’ll continue as CEO, and that’s not a problem. I don’t necessarily want to do this for the rest of my life. There are so many other interesting things out there.”
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