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“Failure is part of the journey and it only means that you have to change your strategy and do better”

Xavier Palomer

Co-founder​ of Psious

Xavier Palomer is the co-founder of Psious. He holds a Degree in Physics and Electrical Engineering and a Master’s in Bioengineering. Over the years, he has gained experience in areas like electromagnetic stimulation, electrophysiology, microwave circuit design, etc. In 2013, he decided to create the company with Daniel Roig, and in 2020 it won the award for the Best Startup of the Year from Esade Alumni and Banc Sabadell’s BStartup.

Xavier Palomer and the physicist Daniel Roig founded Psious in 2013 with the goal of providing mental health treatment using the digital technologies.

Psious is the first online platform based on virtual reality and 3D technology to specifically treat mental disorders like anxiety, stress, depression, ADHD, OCD and eating disorders, among others. The app has been created and is targeted at mental health professionals in order to improve their clinical practice via adapted, personalized treatment. The company, which is headquartered in Barcelona, managed to raise €8 million in 2019. It is currently operating in more than 70 countries and is aiming to expand into the US market.

Why did you want to be an entrepreneur? 

I’ve personally wanted to be an entrepreneur ever since I can remember. The idea of creating a team, a group of people building something together is special! The second main reason was to do something meaningful with a social impact to improve people's lives. 

What made you take the leap into entrepreneurship?  How did you get the idea to set up the company? 

Back in 2013 my friend shared with me his fear of flying. Another friend of mine mentioned that virtual reality could be used to treat phobias. So I decided to delve deeply into it and did some research. 
After researching, I identified that virtual reality was not being explored in the medical field to provide a solution to the end consumer/patient. 

How did you put together a team committed to the project?

Being surrounded by the right people is crucial to achieve success, especially when you are a startup trying to raise funds. 
Passion and the will to have a social impact are the two key points that unite everyone on the team. Over the years, they have become the company’s values. 

What is the most important strategic decision you have made so far?

The initial idea was to build a consumer-facing product. Very soon, we realized how wrong we were so we moved to the professional, B2B sphere. This was a key decision we took at the very beginning that has shaped our future success by allowing Psious to be the leader we are today. 

What is the best advice you have ever been given?

Learn how to say no, but always say yes! The first is to make sure you stay focused, execute and deliver. The second is to always keep an eye on everything, be awake and mindful of everything that is happening. 

And what advice would you give someone getting started in the healthcare/bio startup world.

Every project should involve research of some kind. If you would like to create something that works, it is important to add value. The best way to achieve success in that regard in the healthcare ecosystem is by placing the patient in the center. It is important to take the patient's needs into consideration and provide solutions. You should also listen to the professionals and their day-to-day challenges. Wrap it all up with clinical validation and you will have a perfect product. 

3 things you’ve learned from your entrepreneurship journey

One of the most important lessons this journey has taught me is to accept failure. Failure is part of the journey and it only means that you need to change your strategy and do better. Back in the days before closing our last round, we were unable to guarantee the continuity of the project, but we changed our mindset, worked hard and here we are entering the US market.

Also, in line with what I just mentioned, working in a startup environment means being agile. 

Last but not least, through the years I have developed multitasking skills. I have learned that I can do a lot of things, but not by myself. Surround yourself with a top-notch team of professionals and let them do their jobs. 

Tell us about something you would have liked to know before setting up the company.

The customer-centric approach and mindset that they have in the US. It is critical to focus all your attention on your customers to make sure your product is really helping them.

Now what? What milestones do you want to achieve in the short term (1-3 years)?

To keep our growth with a very strong focus on the US market. We have had significant growth and success in the US. We cannot be prouder of what our team has done! 

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