Amir Banifatemi is an Entrepreneur, Investor and General Manager of XPRIZE.

Amir has extensive experience in managing private and public technology investments and venture capital funds. It focuses primarily on market design, with an emphasis on start-ups targeting products and services that can have a sustainable economic and societal impact.

He actively supports projects on topics such as product roadmap strategy, pricing and business model, fundraising and high growth partnerships and mergers. 
He also has a sharp knowledge of AI and predictive systems, quantum algorithms and cloud-based business models.

In addition to being a mentor at Techstars Sustainability Paris, Amir also sits on the board of non-profit educational organisations that focus on disseminating knowledge and bringing about real world change.

01. What are you looking for in startups when accepting to become a Mentor?

I generally look for three specific elements in mentoring startups: a well-matured idea that can be executed by a cohesive and committed team, a market that has room for new entrants, and a well-defined product approach for which the market fit criteria are well researched and established.

02. What are some of the biggest learnings from your career and entrepreneurial journey that you bring as a Techstars Mentor? 

Having launched two companies myself and advised over 10 other start-ups, there is much to be said for the importance of a simple product that addresses an important market problem. It is very important to be able to put aside one's opinion of the market or product - while being determined to bring that product to market - to be objective and data-driven. As iterations are necessary and pivots are inevitable in most cases, the ability to be agile, to learn quickly and to run fast cycles is essential. I try to bring that sense of agility along with tools and techniques to help the startup be really well positioned to iterate and establish market acceptance and be able to scale.

03. What is your favorite thing about the Sustainability startup scene?

We live in a world we take for granted, and we are now - hopefully - fully aware of our impact on the environment. The need to focus on ESG goals and use technology to achieve SDG goals and create an environment for future abundance is what excites me about Techstars Paris and the general ecosystem of startups it attracts.

04. Describe a situation with a startup founder or team where you felt like you made a difference. 

I remember the circumstances of mentoring around a startup that was focused on creating a marketplace for affordable food delivery while limiting waste. The goals of fighting poverty and hunger, while noble, overshadowed the need to identify a business model that could help the startup become sustainable in its endeavour. The simulations we ran together on different business model possibilities by evaluating the unit economics of each scenario helped identify a clearer path to: 1) tell the story the founders felt was authentic and in line with their core values, and 2) measure the levels of revenue and profitability in each scenario, which helped to better guide their product and service strategy. Ultimately, the fundraising pitch became much clearer and more compelling, leading to funding commitments and better preparation for the Techstars demo day.

05. If you could have coffee with any entrepreneur who would it be and why?

I would enjoy working with entrepreneurs who are problem owners. By that I mean that they have really felt a problem that is not just their own and for which they see a solution. I would like to meet and have coffee with entrepreneurs from disadvantaged communities who feel they are doing good while building great businesses. I think that the future cannot be a choice between these two aspects, and that future entrepreneurs will deal with both aspects. I feel that the growing population of women entrepreneurs is taking a lead in this direction.  

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