Over 100 Participants at the Rubik Hub Event in New York

Over 100 Participants at the Rubik Hub Event in New York

June 11, 2024

On June 6, we organized an event in New York focused on capital, startups, and connecting European innovation with the American market and capital. Corks and Capital was sold out, with over 100 participants joining the exclusive evening that brought together American investors and European startup founders. The event was hosted by UiPath, Romania’s first unicorn, at their office on the 60th floor of the Vanderbilt building, a true landmark in NY.

The central moment of the evening was a panel featuring Justin Greenberger, Senior VP of UiPath; Dylan Reider, Partner at Crew Capital (initiated by the founder of UiPath); Alex Urdea, Managing Partner at Deep Ocean Partners; and Simona Popa, manager of the Rubik Scale to USA accelerator.

A significant part of the discussion focused on scaling in the USA and the idea that organization and culture are essential in this process. For example, in its early days, the hiring process at UiPath in the USA had 21 steps. The guests advised that employees in the States should spend time in the country of the headquarters once they are recruited and, as much as possible, work in other offices outside the USA.

Top 10 Takeaways from the fireside chat:
💎 Build a business you want to own, not one you want to sell.
🛠️ VC is a tool in the toolbox; there are plenty of other options worth exploring.
🔑 Culture is key when hiring in the USA.
📌 U.S. hires should spend time in the HQ country when hired. When possible, work from offices based outside the U.S.
🔥 Look for grit and action-focused qualities in your first hire.
❌ Don’t hire two sales reps and expect them to get everything done. Hire a team (customer service, admin) to provide 360-degree support.
📏 Target areas in the U.S. that are strategically aligned with your company.
🤔 Think about the state you want to be in and why.
🚪 When making connections, cast a wide net with people who are aligned and can open doors.
🤯 Valuation is both a blessing and a curse.

“The high interest in this event, both from investors and key people in the NY startup ecosystem, as well as from founders, clearly shows the need for such a program, which unites European innovation with the market and resources in the USA. However, there are significant cultural and strategic differences, which is why we chose high-caliber mentors with experience in the American market, to open doors for ambitious founders with a global vision,” says Simona Popa, the accelerator manager.

Organized during New York Tech Week, a marathon week with over 740 events, Corks and Capital represents another step that we are taking to facilitate transatlantic collaboration and the entry of European startups into the US market. This year, as part of the Rubik Scale to USA accelerator, 12 European startups participated in a delegation to Silicon Valley, San Francisco (California), and Austin (Texas), where they experienced what launching there would entail and connected with the local business environment, including future partners and investors.

The event was supported by UiPath, three venture capital funds – Crew Capital, Deep Ocean Partners, and 615.vc, as well as the startup VAUNT, an alumnus of the accelerator that moved to New York, and The Climate Vertical. TriNet also joined as a sponsor.