Munich Startup: What motivated you to start a company – back then with Catchys, but also now with Superangels?
Franzi Majer: It's simply a fantastic feeling to build a new product, a company, from scratch and be there every step of the way. I find it incredibly satisfying to have the opportunity to team up with exactly the right people, to build a team that sticks together through all the challenges a startup presents, and to go the extra mile. Besides, I've always been more of a generalist. I love constantly delving into new topics. This is particularly advantageous at the beginning of a startup, as you have to start everything yourself – until you eventually have enough money to assemble a team of experts.
Different personalities bring diversity to the team
Munich Startup: In your opinion, what advantages do diverse founding or VC teams bring?
Franzi Majer: Diverse teams are important for every project and bring many advantages. Whether in startups, venture capital firms, large corporations, or individual projects. Before I discuss the advantages, however, the question of how one defines diversity is more important to me.
Even though the interview falls under the category "Women in Tech," diversity—and this is just my personal opinion—isn't defined by gender, social background, or culture, but primarily by personality. A diverse team is one that brings together different, sometimes completely contradictory, people. Everyone sees the world through different eyes and approaches and deals with problems differently. In my opinion, bringing these different personalities together to fight for the same cause brings the greatest energy to a team and thus also the best results.
This has always been the deciding factor in my employee selection. Does this person fit into the team, does he complement the others, and is he suited to startups? For me, a team is diverse when the most diverse personalities, with all their strengths and weaknesses, work together to find the best and ultimately most creative solutions because all perspectives are taken into account. Forcing diversity based on gender or other obvious characteristics is, in my opinion, a step in the wrong direction because it doesn't focus on the individual.
Munich Startup: When and where do you get the best ideas?
Franzi Majer: Oh, that's easy: While racing my bike somewhere in the Bavarian no man's land...or while walking my dog.
Munich Startup: What are your 3 favorite work tools?
Franzi Majer: Hubspot, Slack and Evernote.
Franzi Majer: Many are too modest when pitching
Munich Startup: Your top tip on pitching?
Franzi Majer: Sales, sales, sales, and do it convincingly! When pitching, whether it's fundraising for a startup, a VC fund, or any other project: If I want to sell something, I have to demonstrate that my product is the best. And I have to show that my team and I are also the best at implementing it and making it truly big.
Startups, for example: I'm assuming every founder is convinced of their idea. Otherwise, they wouldn't start a company. However, I believe that many are too modest when pitching. Then, in case of doubt, the other person doesn't even realize how passionate you are about the cause. But modesty is completely out of place here. That doesn't mean you should come across as megalomaniacal. But that risk is less pronounced in Europe anyway. At the same time – and unfortunately, many still neglect this when pitching: back up as much as you can with figures! If you can't show any from your company yourself because you're not yet on the market: show budget figures, market data, competitor analyses including figures (if available), customer analyses, etc. And even more importantly: have a handle on the figures and be prepared for critical questions.
Munich Startup: Does this seem like a good time to start a business? Why?
Franzi Majer: Definitely! While the market environment is significantly more challenging for startups overall, and not just when it comes to fundraising, there is still sufficient capital available. Therefore, compelling ideas and teams still have a very good chance of receiving funding. Things are looking quite positive, especially in the pre-seed and seed segments.
The market is currently more difficult for larger growth financing (i.e., anything from Series A+ upwards). So it's actually a very good time to start a company. Because by the time you need larger growth financing, the market will likely have already recovered.
The bridge to the corporates is missing
Munich Startup: In your opinion, what could be improved at Munich as a startup location?
Franzi Majer: First of all, I have to say that a lot has changed for the better in recent years. When I think back to my first startup in 2012... Back then, there were rather loose local startup networks, smaller and very rare pitch events. It was generally much more difficult to gain access to the network. That has changed rapidly over time. If you look at the development of the 'Bits & Pretzels' the numerous founder and investor get-togethers, various other tech summits, some initiated by investors, some by founders. And now this year for the first time: The Munich Startup Festivall!
All of these events strengthen the local ecosystem. They promote exchange and create the perfect long-term foundation for Munich to continue to assert itself as one of the best locations for startups. In the past, you could count the number on one hand. Today, you have to choose carefully where to go because the options are so numerous. A real luxury problem.
What I still lack, however, is the bridge between traditional, successful corporations, of which we have a particularly high concentration in Munich, and innovative startups and investors. I believe there's still enormous potential here that can only be tapped through intensive exchange. A lot is happening here, too, but there's still room to catch up. Especially because we're so well positioned on both sides here in Munich.
Munich must be more prominent internationally
And Munich itself needs to put itself even more prominently at the international level. We have some very innovative companies, especially in areas like tech and deep tech – and we need to communicate this very aggressively. Those who don't do this won't be heard and will therefore be irrelevant.
Munich Startup: Which investor would you like to meet in person? And what would you ask them?
Franzi Majer: Andy von Bechtholsheim. The question would be quite clear: When can we welcome him as a super angel, what will be our first joint deal, and how much of his own capital he would like to invest in our fund. Of course, only after I have Superangels pitched and then hopefully only rhetorical questions will come.
