The Munich-based B2B startup Inner-I has developed an innovative personnel development solution that combines virtual reality with brainwave measurement and playful elements. The founder, Michael Ludwig Seyfried, is an actor, director, and team development trainer, among other things, and answered our 7 questions.
Munich Startup: Who are you and what do you do?
Michael Ludwig Seyfried, Inner-I: Together with a team of psychologists, neurologists, and programmers, I have developed Inner-I, an innovative tool for human resource development. Inner-I, combined with Virtual Reality (VR), gamification and brainwave measurements — relaxation ability, mental strength and leadership skills.
Inner-I aims to convey skills for the world of work 4.0 in an entertaining way
Munich Startup: What problem does your startup solve?
Michael Ludwig Seyfried, Inner-I: Even when working from home, many dedicated people are under immense pressure in the brave new world of work. The higher the level of responsibility, the more drastic the degree of overload often becomes. Added to this are the numerous distractions on the many communication channels. Concentration is diminishing, and many high-performing employees are constantly working at their limits. Over- or under-stress leads to inefficiency, exhaustion, and—ultimately—burnout.
In addition, many people have been plagued by anxiety since long before the coronavirus pandemic. For example, fears about their jobs, fear of restructuring, or the rapid changes that come with the much-touted "agility." This tendency can hardly be controlled with "a little yoga." Ultimately, the causes of stress-related illnesses are also self-inflicted: The true cause of failure in the workplace is a lack of self-organization. We are driven by unconscious patterns, by "blind spots." This often results in difficulty making decisions, problems with authority—and a lack of motivation and poor communication. conveys the most important meta-competencies for the world of work 4.0 in an entertaining and compelling way: Self-efficacy, resilience, dealing with complexity and much more.
Innovative training medium is a journey into the unknown for the 'Old Economy'
Munich Startup: But that's been around for a long time!
Michael Ludwig Seyfried, Inner-IWhile the training and coaching market is bursting at the seams, and VR is already being used to some extent in (especially technical) continuing education, the potential of immersive access to 360° experience worlds, combined with behavioral psychology and dramaturgical insights, has so far been barely utilized and offered. The combination of brainwave measurement and the direct control of the course of the educational narrative through the power of thought is another unique selling point.
Munich Startup: What have been your three biggest challenges so far?
Michael Ludwig Seyfried, Inner-I: The first challenge for us was the initial financing. We received start-up capital from KfW, but only with a private guarantee. Anyone without assets such as real estate won't get a loan from any bank in Germany—and the KfW evaluation is also handled by banks.
Challenge 2 is a consequence of the first challenge: making our system technically customer-ready without having the necessary financing.
Challenge 3 is to convince customers, especially in the 'old economy,' of innovative approaches. As in our case, because with us, they have to venture into the unknown by using a different training medium.
Corona crisis made new concept necessary
Munich Startup: How are things going?
Michael Ludwig Seyfried, Inner-I: The coronavirus crisis initially made all customer appointments impossible. We subsequently adapted our concept. Originally, we wanted to sell specific hardware. Now, our customers can access Inner-I content exclusively via the cloud using commercially available VR headsets. This has so far generated only symbolic revenue. However, we plan for our system to be used in companies worldwide as a tool for developing potential in a few years.
Munich Startup: How can your startup become the next unicorn? Or will we see you soon at Epic Fail Night?
Michael Ludwig Seyfried, Inner-I: We offer unicorn potential fundamentally through the virtual ecstasy that we can offer our users drug-free, and which will enrich the horizons and quality of life of thousands of people without having to leave the company building.
Munich Startup: Quick exit or long breath?
Michael Ludwig Seyfried, Inner-I: We love what we do, so we're not thinking about leaving.
