The startup Innospot, founded in 2017, operates a Startup discovery platform, where users can search among approximately 550,000 active companies for suitable solutions, emerging competitors, or potential new partners. The directory is based on an AI-driven scraping and interpretation system that identifies an average of around 4,000 new startups per week. The startup profiles are then enriched with information from their websites as well as from public and external data sources. Innospot also offers customized startup scouting services for clients. The startup currently serves companies such as Allianz, Beiersdorf, Siemens Healthineers, Audi, and Linde.
Hype Innovation, on the other hand, is all about innovation consulting. Founded in 2001 as a spin-off from DaimlerChrysler, the company supports its clients from early trend scouting and roadmapping to concept development and innovation portfolio management. The offerings of the two companies are thus a perfect fit, as Frank Henningsen, CEO of Hype Innovation, explains:
"All of us at Hype are thrilled to welcome Innospot to our team. We've frequently received requests from clients for a startup and technology scouting solution like Innospot. Therefore, we're excited to partner with Daniel, Josef, and the rest of the team to offer these exact capabilities in an integrated, cloud-based platform."
“Promote innovation on a larger scale”
Daniel Buschmann and Josef Seidl, the founders of Innospot, add:
"The most innovative companies in the market have all learned to leverage both internal and external ideas to improve their products and offerings. Together with Hype, we are now able to manage both sides in one management tool, thus fostering innovation even better. Frank and the rest of the Hype team have made a strong impression on us, and we are very excited to become part of the Hype group."
And also Sven van Berge, Henegouwen, Partner and Head of DACH at Main Capital, the majority shareholder of Innospot, is pleased with what has been achieved:
"In all of the 45+ add-on acquisitions we've supported over the past few years, we've always prioritized a selective approach with a good fit between the products of both companies. Furthermore, it's very important to us that both management teams have a positive personal connection. That's why we were delighted that there was such a natural fit between Hype and Innospot."
The founders stay on board
Even after the takeover, Innospot founders Daniel Buschmann and Josef Seidl will remain on board as managing directors, along with the entire team. Seidl assures that nothing will change regarding the location either. They are even considering expanding the site with the new owner, Hype. When asked how they feel about selling their own startup, Seidl replied:
"Actually, nothing has changed for me so far, and it feels exactly the same as before. After the contracts were signed last Wednesday, we immediately discussed the next steps and parts of the roadmap after a glass of champagne to make Innospot available to all Hype customers as quickly as possible. The next day, things continued just as before for us and the team."
