Bay Area entrepreneurs are making deals in unexpected places, with a new approach that is shaking up the traditional pitch.
For the last few years, Luis Schilling and his team have poured their blood, sweat and a whole lot of caffeine into building their company, Tropical IT, a startup that helps businesses manage their computer systems
“It has been a very fun ride, kicking off in my garage, and we’re now 12 people supporting nine countries,” Schilling said.
These days, he’s looking for an investor who can turn his startup into a powerhouse. But instead of pitching in a stuffy boardroom, he’s heading down a flight of stairs to the locker room.
No slides, no spreadsheets, this deal is being played out on a court.
“You get to know them, and they’re out of their comfort zone,” Schilling said.
Welcome to padel, one of the world’s fastest-growing sports and Silicon Valley’s newest networking hotspot.
Ted Maidenberg, a venture capitalist and the man Schilling hopes will invest in his company, said this sport isn’t just fun, it hits all the right notes.
“This sport takes a ton of concentration. So, asking a question to the entrepreneur between points, he or she won’t have time to prepare an answer,” he said.
If tennis and squash had a business-savvy baby, it would be padel.
The sport, which originated in Mexico in the 1960s, has already taken over Europe by storm. Now, it’s making its way to America. With more than 70,000 courts expected to open worldwide by 2026, padel is gaining serious momentum.
Like pickleball, it’s usually played in doubles. But that’s pretty much where the similarities end.
“The courts are bigger and they are surrounded by glass, so you can let the ball bounce off the glass and then hit it back to the other side of the court,” said Pedro Zorraquin, a partner at Bay Padel, a massive club on Treasure Island
The venue includes a tricked-out co-working space above the courts, where you can take calls, play a set and land a deal.
“Tech people work from home, right? So, now the new concept is work from padel,” Zorraquin said.
For Schilling, the bet paid off. He scored a second meeting.
“It felt great,” he said. “We got some good points in, it brought up some frustrations, which I think is healthy.”
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