Francisco Santolo, CEO of Scalabl and recognized by Forbes, shares in La Estrella de Panama his vision on entrepreneurship, networking and individual power. He criticizes the venture capital model and proposes an approach based on listening, collaboration and customer-funded growth. "We don''t associate power with responsibility and service," he concludes.
Francisco Santolo, CEO of Scalabl, was interviewed by La Estrella de Panama in a deep conversation about his vision that breaks old entrepreneurship paradigms. Santolo, recognized by Forbes in 2017 as the "startup hacker," has co-founded more than 50 companies and helped create over 500 ventures through the Scalabl methodology, with operations in more than 20 countries.
His approach emerged from the new methodologies that appeared around the year 2000. Instead of seeking capital as a first step, Santolo proposes starting by finding customers to understand their real needs, connecting with other actors to solve concrete problems, and then selling, financing directly from the customers themselves. It is a model that inverts the traditional logic of entrepreneurship.
Santolo cites Steve Blank and "The Lean Startup Method" as fundamental bases of his thinking. Customer development must be based on hypotheses, not assumptions. The focus must be on understanding the consumer''s desires and pains through open questions, without assuming one already knows what the market needs. This humility before the market is, according to him, the difference between entrepreneurs who scale and those who fail.
Regarding Latin America and Panama in particular, Santolo acknowledges the inequality and social challenges of the region, but sees enormous opportunities for entrepreneurs. Panama offers political and economic stability, geographic advantages as a hub connecting continents, and a convenient tax structure for business. "Problems are opportunities," he affirms with conviction.
In the interview, Santolo delves into the importance of networking. Human success, he argues, fundamentally depends on others. Businesses require actively listening and relating to different actors: customers, suppliers, allies, mentors. "Our achievements depend on others," he says, challenging the narrative of the lone entrepreneur who can do everything.
One of the most powerful sections of the interview is his critique of venture capital. Santolo argues that Latin American governments copy the Silicon Valley model without understanding it in depth. Startup valuations are based on future expectations, not real profits. Financial intermediaries profit from commissions, creating perverse incentives that push companies toward unrealistic and often unsustainable growth.
This system, according to Santolo, generates a bubble where success is measured by the amount of capital raised rather than the real value created. Statistics show that the vast majority of venture capital-funded startups fail, yet the model continues to be presented as the ideal path. For Santolo, this is a fundamental error that particularly harms entrepreneurs in emerging regions.
Facing this reality, Santolo proposes a concrete alternative: sustainable business growth does not require being a millionaire. All that is needed is quality entrepreneurial education, emotional resources to face uncertainty, and basic business tools applied within collaborative ecosystems. Technology has democratized access to almost everything needed to start a business.
The conversation expands into a deeper reflection on individual power in the digital age. Santolo observes that modern society grants individuals unprecedented power thanks to digital tools. Anyone can create content, build an audience, launch a product, or mobilize a community from their phone. However, people do not manage this power responsibly.
"We don''t associate power with responsibility and service," Santolo concludes with a phrase that summarizes his entire philosophy. The power that technology gives us should be accompanied by a commitment to others, to the community, to positive impact. Santolo advocates for a model of collaborative growth that benefits everyone, not just those at the top of the pyramid.
The interview closes with an invitation to rethink entrepreneurship not as an individual race toward wealth, but as a collective tool for social transformation. For Santolo, the true entrepreneur is one who uses their capabilities and resources to solve real problems, creating shared value in the process.
