Interview with Raffaele Mauro, Founder of Primo Space Fund

# Title: GB Capital Takes Off to Space with Primo Space Fund | Interview with Raffaele, General Partner

## Description:
Welcome to GB Capital! Today, we have a very intriguing guest from the world of venture capital, particularly in the aerospace industry. Join us as we chat with Raffaele, one of the General Partners of Primo Space Fund, the first Italian venture capital fund that invests in the space economy. Get ready for a fascinating conversation!

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## Keywords/Tags:
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**Timestamps:**

– 00:00 Introduction
– 00:30 Raffaele’s background in venture capital
– 02:15 Importance of a solid business idea in the aerospace industry
– 04:02 The role of the team in achieving business success
– 06:20 Solo entrepreneurship vs. team collaboration
– 08:15 The significance of barriers to entry in the business idea
– 10:05 Balancing technological and financial barriers
– 12:30 The impact of speed and agility in the digital economy
– 14:12 Accumulating human capital for competitive advantage
– 15:58 Wrapping up the interview

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## Transcript:

[00:00]
[Musica] Hello everyone, and welcome to GB Capital! Today, we are delighted to have a truly captivating guest from the world of venture capital, specifically within the aerospace industry. Our guest is Raffaele, one of the General Partners at Primo Space Fund, the pioneering Italian venture capital fund that concentrates on investments in the space economy. Thank you, Raffaele, for joining us in this exciting initiative. Can you please tell us a bit about yourself and your venture?

[00:30]
Raffaele: Thank you for having me. My background is deeply rooted in the venture capital world. I have previously worked for several Italian funds, such as the now-called Une Lecture 301. Alongside my experience in banking, I recently co-founded Primo Space, an investment vehicle specializing in the fascinating field of space economics. It has been an incredible journey so far!

[02:15]
GB Capital Host: Fascinating! Based on your extensive experience in this unique sector, how crucial is a solid business idea, and how is it evaluated in relation to the economic landscape and competition?

[02:30]
Raffaele: When launching a company, the idea is undoubtedly essential. However, let’s not forget that many other factors also play a significant role. Merely identifying an innovative technology, product, or business model isn’t sufficient. Entrepreneurs must possess the ability to establish and orchestrate a project by combining resources, such as capital, technology, and collaborations within the ecosystem. This enables them to achieve their objectives. The most successful teams and entrepreneurs are those capable of making steady progress and effectively setting and reaching milestones. Moreover, it’s vital to acknowledge that ideas can function differently in various environments. For instance, during a significant experience of mine in the United States, I observed tech startup competitions at esteemed universities such as MIT. Interestingly, the ideas presented by the students during pitch competitions were not radically different from those I had seen at Milan Polytechnic. However, what dramatically diverged was the progress made within 100 days. Those enterprises in the US had already developed products, possessed prototypes, established legal frameworks, and had mentors guiding them. This illustrates a mature ecosystem that provides the necessary tools for ideas to flourish. It also demonstrates how individuals are trained to set and pursue goals effectively.

[04:02]
GB Capital Host: Absolutely, Raffaele! It’s evident that the team plays a vital role in a company’s success. In your opinion, is it better for an entrepreneur to go solo or build a substantial team to support them in their journey?

[04:20]
Raffaele: The team is undeniably the most critical factor in the equation that determines a business’s potential success. As we delve into the early stage of a company’s life cycle, the team’s weight tends to increase. In essence, startups’ success in their early years predominantly depends on their motivation, competence, and the solidity of their team. Many startups perish at their inception due to various reasons, with team-related issues often being a significant cause for failure. Consequently, it is crucial to carefully select the right partners when founding a company. These individuals become an integral part of the journey, sharing both the ups and downs.

[06:20]
GB Capital Host: That’s an excellent point, Raffaele. Regarding the business idea itself, how important do you consider barriers to entry, whether they are technological or financial, in protecting and differentiating a business idea from competition?

[06:40]
Raffaele: The significance of barriers to entry varies dramatically depending on the sector. Certain industries, characterized by high research and development intensity, such as the life sciences or pharmaceutical sector, greatly benefit from patents or regulatory clearances. For instance, in the pharmaceutical field, passing clinical trials acts as a substantial barrier to entry. Conversely, in sectors like the digital economy, speed paradoxically becomes a crucial barrier to entry compared to other factors. It often makes little sense to patent a software solution when it can be replicated swiftly. Instead, becoming a market reference, especially within specific verticals, becomes a valuable barrier. Another crucial barrier to consider is the accumulation of human capital. Although individuals may be mobile and switch companies, it is not trivial to replicate small and highly competent groups. These teams possess the speed and effectiveness that larger bureaucratic organizations often lack. Indeed, even giants like Google consistently acquire startups as they recognize the value these smaller and nimbler players bring to their survival.

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[For the full transcript, please refer to the video]

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This video was created with the support of Primo Space Fund. Learn more about their investments in the space economy by visiting their website: [Primo Space Fund](https://www.example.com)

*Note: The above transcript has been edited for clarity and brevity.*

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*Disclaimer: The information provided in this video is for educational and informational purposes only. GB Capital does not provide financial or investment advice. Any reliance you place on such information is strictly at your own risk. Please consult with a professional for specific advice tailored to your situation.*

GB Capital prende quota e si dirige nello spazio con uno dei General Partners di Primo Space Fund, il primo fondo di venture capital italiano che investe nella space economy. Buona visione !