starting point we had: prototype / technology test market feedback of first customers 2 patents...

Starting point

We had:

• Prototype / Technology

• Test Market

• Feedback of First Customers

• 2 Patents

• Basic Team

• Some Business Know-How

• Fun…

We needed:

• Legal Company

• Business Plan

• Start Money / Investors

• Offices / Labs

• Production Rooms

• Founders Team

Starting point

Easy to get:

We needed:

• Legal Company

• Offices / Labs

• Production Rooms

Starting point

We needed:

• Business Plan

• Start Money / InvestorsHard to get:

Starting point

We needed:

• Founders Team

Most important:

which never gives up, and sticks together in any situation

Factors for Success

Factors for Success

• Fruitful Environment (Munich…)

• Good Human and Financial Resources

• Good External Support

• Talk to your Customers (internet marketing is not enough…)

• Patience and Persistence

• The TEAM

• Do it!

External Support

• MBPW: Munich Business Plan Competition – 1. rank 2001

• ODEON: help from students within the MBPW

• FLÜGGE: support program of bavarian government

• Nothing else than selling our Products

External Support: MBPW 2000/2001

Münchner Business Plan Wettbewerb 2001: Competition of 167 Teams

• Seminars

• Jour Fixes

• Competition, Team Building!

• Complex Network of Advisors, Consultants, Investors (for free)

• Screening of Business Angels, Start-Funding

• Publicity

• Attention at the University

• Business Plan