Author Archives: Michael Strommer

Mentoring Session on Fincancing Issues and Bavarian Beer

The project phase of Batch one is up and running – only one month left until Demo Day on June 18, when startups are going to demonstrate their results.

Time to catch a breath and knock off work the Bavarian way – catching up after work over one or two tasty local beers and a cold platter of Bavarian specialties. Fortunately the famous monastery Andechs is just around the corner from our headquarters in Landsberg. Andechs has its own brewery and a couple of cozy beer halls – the perfect setting.

 

 

The get-together in Andechs marked the end of the day’s mentoring session on financing issues and pitch decks. The morning session revolved around the financing topic, focusing on the terms and structure of typical financing contracts. PwC legal expert Frank Tepper-Sawicki passed on his experience from multiple M&A/VC deals to startups in a very practical manner and highlighted the do’s and don’ts for such contracts from a startup perspective. Additionally startups  got first-hand insights into how the requirements of strategic investors differ from that of financial investors.

 

 

In the afternoon, startups had the chance to undergo a reality check and see, whether their customer and investor pitch decks leave some room for improvement. Here, the diverse constellation of participants including representatives from customers, strategic investors, former founders and other startups really paid off. The different perspectives resulted in valuable feedback in terms of possibilities on how to craft even more appealing pitch decks. The startups warmly welcomed the valuable feedback, since it hopefully not only helps them to sell their vision even more appealing to potential Investors, but also to sell more of their products to customers.

It’s a wrap – Pitch Day | Batch No. 1

 

It’s a wrap – Pitch Day | Batch No. 1

 

On January 15th & 16th the first FastTrack batch was successfully launched with the program’s on-site Pitch Days at the Ceravis office in Landsberg am Lech. Due to the high quality and amount of the received applications during the preceding application phase it wasn’t an easy choice for our industry partners to decide on the most convincing teams and innovative technologies to be invited to our Pitch Days. Our partners sifted through more than 300 initial applications and selected the startups for the final round based on multiple factors – strategic fit as well as identifiable scenarios for pilot projects guided them in their decision making process, to name a few. 20 startups from Germany, Austria, Sweden, Switzerland and Belgium qualified for the final round and were thus asked to take the stage to deliver a top-notch pitch.

 

As promised, FastTrack offered direct acces to executive levels right from the start – hence our partners’ Managing Directors didn’t want to miss out on this chance. Dr. Thomas Brücher (CSE of Hirschvogel Automotive Group), Thomas Englmann (CEO of HOERBIGER Antriebstechnik Holding GmbH) and Max Aicher (CEO & Shareholder of Max Aicher Group) opened the FastTrack Pitch Days with their combined keynote, underlining the importance of collaboration between the old and new economy.

from left to right: Max Aicher (shareholder & CEO of Max Aicher Group), Thomas Englmann (CEO HOERBIGER Antriebstechnik Holding GmbH), Dr. Thomas Brücher (CSE Hirschvogel Automotive Group) and Thomas Offner (PwC Quarterback) held the opening keynote.

After the keynotes our Pitch Days were officially on: every startup faced the jury in a 20 minute pitch followed by a 10 minute Q&A. Together with 60 representatives from all three corporate partners, the Managing Directors represented the jury, pinning down startups in tough Q&A sessions.

 

Unlike in most other programs, startups were asked to not solely deliver a standard investor pitch, but rather come up with a technology-centered pitch. Thus the attending partner representatives were in a better position to evaluate potential use cases for pilot projects. In addition to the pitch area, three marketplace areas were set up to foster one-on-one conversations. A majority of startups used this opportunity to demonstrate their products and services and elaborate on potential uses cases together with corporate partner representatives.

 

 

 

The diverse range of invited startups combined with top level partner representatives made this pitch event a truly extraordinary one. The audience was impressed by the quality and level of professionalism that every single finalist delivered. The program’s focus on B2B startups positively contributes to the desired level of quality and professionalism, which all industry partners require and rely on during the project phase.

 

No wonder our partners had another hard time when it came to selecting the winners after the two-day event. Focusing on quality rather than quantity, all three corporate partners together selected 10 winner startups with which they plan to launch three-month projects tailored to the startups’ as well as the corporates’ needs. In March 2018, the project-phase is due to kick off, marking the starting point for the project collaboration between startups and industry partners.

 

Congrats winners!