The ideas bus | Economy

The genesis of Busup was in a class exercise at the IESE business school. Alejandro Canals, student of one of the programs for managers, proposed to his classmates, Rui Stoffel and Eva Romagosa, pose a kind of Uber bus, but they realized that replicating that business model was very complicated. In spite of everything, the idea stuck with Stoffel, who decided to leave in 2015 his work as a strategic consultant in Indra to embark on a business venture. "I had the urge to ride something on my own and with thirty-odd years was the last chance," he says.

Finally they decided with a proposal of personalization and digitization of bus routes for companies and events. Canals, who had experience in the transport sector, contributed 300,000 euros to launch the company. In addition, they obtained one and a half million from the European Union for the development of sustainable mobility projects and another for private capital. In 2017 they invoiced 50,000 euros and in 2018 they have had a turnover of 300,000 although they have not yet managed to obtain benefits.

"Many companies are installed in industrial estates or in places where it is difficult to get there by public transport," explains Stoffel. In addition, companies are no longer interested as much as before to pay their employees a company car. "That's why we offer companies the management of their employees' transportation." Thus, they can coordinate the transport of people who work in different companies but in the same industrial estate, for example. "76% of the people who use our services used to travel by car, with bus trips decongest traffic and reduce pollution," says Stoffel. Another of its business lines are events. "Attendees sign up and create personalized routes, the bus ends up picking you up practically in your home," explains Stoffel, who sets an example of a company dinner they organized for Louis Vuitton, in which there were up to 22 different routes to attend.

At the moment they operate in Spain, Portugal and Brazil. "Our future plans are oriented to settle in regulated markets, in countries with unregulated transports there is a lot of competition", concludes Stoffel.


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