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