Swinging Success: Fletcher Entrepreneur’s Encore in Telecom and Renewable Energy

From Madrid to Geneva, Zurich to Paris and Amsterdam to finally Frankfurt, Christoph Schmid F96 traveled across Europe in just two weeks, enticing pension funds and asset managers to invest in his new venture, Jazztel.

“You start to wonder if you have already told the joke for that slide or not,” he mused, reflecting on the challenge of standing out among the 50 firms investors reviewed that day.

Yet, from what he described as being “poor guys on a PowerPoint,” the team managed to raise €62 million in private equity. Jazztel, which Schmid co-founded, soon became Spain’s second-largest publicly traded telecom operator.

Seizing Opportunity

Born and raised in Germany, Schmid moved to Spain at 17 years old. During his time at Fletcher, he took advantage of every business opportunity available to him, crossing courses with Harvard and MIT.

After graduating, Schmid launched his early career at McKinsey & Company in Madrid, where he collaborated with clients from the energy, banking and telecom sectors. In 1998, he recognized a new opportunity in the market that would set the stage for his entrepreneurial journey.

Serving the underserved

“Jazztel is a new agent in a telecom market, which was a monarchy, 100% owned by Telefonica,” Schmid said., With the Spanish government opening the telecom space to new players, Schmid seized the opportunity.

“We focus on SMEs because they were the ones which were underserved,” he said, pointing to a critical strategic decision that allowed Jazztel to capture a neglected market.

“People were fed up with Telefonica, the old legacy network,” he said.

Recognizing this gap, Schmid swiftly positioned Jazztel as a compelling alternative, catering to clients seeking tailored solutions. The company focused on competitive pricing and rapidly captured significant market share across Europe. “We were aggressive; that was the only way to scale quickly. You had to catch customers as fast as possible,” Schmid recalls.

Schmid found joy in the entrepreneurial process.

During the roadshow across Europe, Schmid drew on the skills and insights from his finance and strategy courses at Fletcher to win over investors.

“Tell them what you need to tell them, then tell them what you’ve told them,” he advised, reflecting on his strategic approach to pitching Jazztel.

Schmid’s strategic vision forged a company that prioritized customer needs, marking a significant shift in the Spanish telecom landscape.

“You need to be in the right place at the right moment,” he said. “You need to have the right strategy.”

Embracing New Frontiers

After his success at Jazztel, Schmid shifted his focus to what he identified as the future: renewable energy. He founded Bio-Oils Energy, which would grow to become Spain’s largest biofuels producer.

“Always look for where there is market perception” he said. “That’s where the opportunity lies.”

“You need a lot of capital and timing is crucial.”

He emphasized the importance of financial backing and strategic entry in realizing his vision for renewable energy.

Today, Schmid serves as a principal investor across diverse industries, with a particular interest in leisure and hospitality ventures.

“The three pillars of a sound business are a nice idea, good partners and a solid team,” he said. “It doesn’t matter if it’s internet, tech, telecom or renewable energy — opportunities are always there.”