Yesterday, Carl Heinze, founder of Carryyygum, appeared on the Vox startup show 'Die Höhle der Löwen' (The Lion's Den). Here, the inventor talks about his experience, how he prepared for the TV appearance, and who his dream investor was.
The founder of the Munich startups Carryyygum presented his developed mini bicycle rack to the investors of the TV show 'Die Höhle der Löwen' (The Lion's Den) in yesterday's broadcast. It's a rubber band construction that attaches to the bicycle handlebars.
Right at the beginning of his pitch, Carl Heinze asked Ralf Dümmel, the TV investor with arguably the best contacts in the retail industry, to test his product. In the end, he actually convinced Dümmel to invest, but he had to give up more than the initially offered 20 percent of the company's shares: Carryyygum received €150,000 from Dümmel for 40 percent of the company. We were able to ask Carl Heinze a few questions about his TV appearance.
“It all happened pretty quickly”
Munich Startup: How did you fare in the lion's den?
Carl Heinze: The visit to “The Lion’s Den” is a double challenge: The pitch to investors and Recording a television show. This is, of course, a very special situation, which I believe is what makes "The Lion's Den" so unique.
So I was a little nervous. But the conversation with the investors was friendly, respectful, and exciting. I was confident in my product because it's fundamentally great and innovative, and it definitely deserves to be included in the startup show. Whether a lion will bite and we'll get a deal remains uncertain until the end.
Munich Startup: How did you prepare for the television appearance?
Carl Heinze: In a nutshell: I practiced my pitch, ironed my shirt, organized three bikes, threw them in the trunk, and then drove to Cologne. It all happened pretty quickly, and I didn't have much time to prepare.
“It was about ‘marrying’ Carryyygum appropriately.”
Munich Startup: Who was your dream investor?
Carl Heinze: Carryyygum is a simple product, and it already works perfectly. So, I didn't need help with product development; I was looking for a partner for marketing and sales. Since I believe Carryyygum can be sold well in many places, I was naturally interested in investors with the best possible contacts in the retail industry.
Munich Startup: What did you expect from the performance beforehand? Was it really about an investment or was it more about TV reach?
Carl Heinze: Since I've been driving Carryyygum forward largely on my own, I was already looking for a partner who could contribute expertise, a network, and market access. So it was really about "marrying Carryyygum" appropriately. But the fact that several million viewers tune in to the Vox startup show 'Die Höhle der Löwen' (The Lion's Den) every week is, of course, not a bad thing for your own startup.
Munich Startup: Was your online shop prepared for a possible rush?
Carl Heinze: Yes, we prepared well for the broadcast day and optimized a few things.
