{"id":18018,"date":"2017-01-11T08:45:54","date_gmt":"2017-01-11T07:45:54","guid":{"rendered":"http:\/\/cms.munich-startup.net\/?p=18018"},"modified":"2017-01-19T12:54:35","modified_gmt":"2017-01-19T11:54:35","slug":"dr-carsten-rudolph-in-an-interview","status":"publish","type":"post","link":"https:\/\/cms.munich-startup.net\/en\/18018\/dr-carsten-rudolph-in-an-interview\/","title":{"rendered":"\u201cThe startup business is booming\u201d \u2013 Interview with Dr. Carsten Rudolph"},"content":{"rendered":"

Which industries are business angels most interested in, which developments shaped 2016, and what is the mood in the startup scene? If anyone can answer these questions, it is Dr. Carsten Rudolph, Managing Director of BayStartUP<\/a>.<\/strong><\/p>\n

What developments shaped the year 2016? <\/strong><\/p>\n

Carsten Rudolph:<\/em> A striking development in 2016 was the significant increase in investments by business angels. Interest in becoming a business angel has also increased overall, even with larger amounts invested. The assumption that business angels only invest small amounts is contradicted by reality.<\/p>\n

What are business angels talking about most at the moment?<\/strong><\/p>\n

The federal government is doubling funding for startups starting January 1, 2017, with the Invest 2.0 program. This decision came as a very positive surprise to many, but it also demonstrates the importance that startups and innovation have become in Germany. A tremendous amount has happened in this area. This puts us at the forefront of Europe.<\/p>\n

How are the criteria by which business angels and other investors make their decisions changing?<\/strong><\/p>\n

What we're seeing is a return to the classic startup virtues: numbers, revenue growth, and business model. These are the things we also consistently demand of our founders.<\/p>\n

\u201cInvestors want to see returns at some point\u201d<\/h3>\n

How does this return to consciousness come about?<\/strong><\/p>\n

Quite simply, investors want to see a return at some point. Just a few years ago, it was fashionable to invest in startups that said, "We'll get the users first, and worry about the business model later." Today, people are generally more realistic and take a closer look. For example, I believe that financing like Snapchat's is no longer so easy these days. And Twitter, for example, still doesn't have a business model.<\/p>\n

And which industries are the angels most interested in?<\/strong><\/p>\n

Business angels generally don't engage in sweeping analyses along the lines of, "Next year we'll put everything into medical technology." They operate more according to the principle: Opportunities are everywhere; the founders just have to do it right. What matters is how someone does something, not just what they do.<\/p>\n

So buzzwords like the Internet of Things or Industry 4.0 aren't everything?<\/strong><\/p>\n

Of course, many innovations have to do with digital technologies. Digitalization offers so many possibilities that every niche is gradually being filled. But in the details, it's always surprising where the new ideas actually emerge. For example, we recently had a lot of HR topics, including a lot of new software for HR professionals and application portals.<\/p>\n

\u201cThe startup business is booming\u201d<\/h3>\n

What is the general mood among startup companies? <\/strong><\/p>\n

The mood among startups is generally positive. Startup business is booming, and most are selling well.<\/p>\n

Can the good mood be measured in numbers?<\/strong><\/p>\n

The financing network of BayStartUP<\/a> mediated the Record sum of 68.2 million euros<\/a> Seed and growth capital for startups. Since the network's founding in 2014, investment amounts have steadily increased. The volume nearly doubled in the past year alone. The BayStartUP financing network brings together over 250 listed business angels and over 100 institutional investors, making it one of the largest in Europe.<\/p>\n

But which startups are truly successful will only become clear in years to come\u2026<\/strong><\/p>\n

Development cannot be measured in the year in which a startup secures financing. You have to look at the longer term. However, we can see whether startups that received funding two to three years ago are developing strongly, namely when they have their first stable revenues. This is the case for companies like Magazine<\/a>, Navvis<\/a> or Wirelight, this is already the case to a considerable extent. Navvis alone now employs around 100 people.<\/p>\n

\u201cNobody likes to fail\u201d<\/h3>\n

Has anything changed in the fundamental German attitude that one should not 'fail' as a founder?<\/strong><\/p>\n

Nobody likes failure, that's clear. But the social stigma for someone who has driven their company into the ground is nowhere near as great as it was a few years ago. The legal consequences of insolvency are quite different. They are quite serious. Once you have a credit report and can no longer get a credit card, it can be difficult to get back on your feet as an entrepreneur or even as a private individual.<\/p>\n

What advice would you give to a founder who comes to you tomorrow with his idea and needs help?<\/strong><\/p>\n

First, what I have always advised: Plan your business carefully and think about how you want to make money from the beginning.<\/p>\n

Often, possible financing is also discussed at the same time\u2026<\/strong><\/p>\n

Yes, of course. Startups come to us and want to know, for example, how to prepare for financing. They want to know what investors value. And they're interested in what they can learn from other people's mistakes. They don't find that on online portals. Nobody writes about other people's mistakes or lessons learned along the lines of: "They went bankrupt because..."<\/p>\n

How do you ensure that your coaches have this know-how?<\/strong><\/p>\n

Of course, we also have to constantly question ourselves. For example: Are we still using the right analysis tools? Is our expertise still up to date?<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Which industries are business angels most interested in right now, which developments shaped 2016, and what's the mood in the startup scene? If anyone can answer these questions, it's Dr. Carsten Rudolph, Managing Director of BayStartUP. What developments shaped 2016? 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