{"id":64422,"date":"2020-09-22T08:11:00","date_gmt":"2020-09-22T06:11:00","guid":{"rendered":"https:\/\/cms.munich-startup.net\/?p=64422"},"modified":"2020-09-21T16:08:20","modified_gmt":"2020-09-21T14:08:20","slug":"letsact-dhdl","status":"publish","type":"post","link":"https:\/\/cms.munich-startup.net\/en\/64422\/letsact-dhdl\/","title":{"rendered":"Letsact: This is what happened to the Munich volunteer exchange in the 'Lion's Den'"},"content":{"rendered":"
\n

The two Letsact founders, Ludwig Petersen (21) and Paul B\u00e4umler (22), from Munich, have been volunteering for years. They know from their own experience that getting started in such a commitment isn't easy.<\/p>\n\n\n\n

\u201cEvery third German would like to do something good on a voluntary basis,\u201d <\/p><\/blockquote>\n\n\n\n

said Ludwig Petersen<\/strong> in the TV show<\/a>. <\/p>\n\n\n\n

\u201cBut often you don\u2019t know how or where to start.\u201d <\/p><\/blockquote>\n\n\n\n

With its app, Letsact aims to bring together volunteers and organizations that rely on volunteer work. <\/p>\n\n\n\n

\u201cWe want to make it easy for people to contribute to a better world,\u201d <\/p><\/blockquote>\n\n\n\n

said Paul B\u00e4umler <\/strong>at the TV pitch of his Startups<\/a>For an investment of 300,000 euros, the founders wanted to give up ten percent of their company shares.<\/p>\n\n\n\n

Investors attack Letsact founders<\/h2>\n\n\n\n

Georg Kofler<\/strong> accused the young founders of \u201cdouble standards\u201d right at the beginning of the question and answer session in view of the valuation of 3 million euros and asked: <\/p>\n\n\n\n

\u201cWhy do you want to become multi-millionaires with such a charitable activity?\u201d<\/p><\/blockquote>\n\n\n\n

Also Dagmar W\u00f6hrl <\/strong>took a hard line on the two founders. The investor was visibly annoyed after her male investor colleagues, Georg Kofler and Nils Glagau, repeatedly shut her up. She pointed to her own volunteer work and said:<\/p>\n\n\n\n

\u201cI have the feeling you don\u2019t really know what volunteering really means.\u201d<\/p><\/blockquote>\n\n\n\n

The requirements for volunteers are significantly stricter than the candidates portrayed. The founders countered that the organizations advertising can specify exactly what support they are seeking.<\/p>\n\n\n\n

\u201cI think the idea is super cool\u201d<\/h2>\n\n\n\n

After a tense start, the TV investors became even more conciliatory: <\/p>\n\n\n\n

\u201cI must tell you: my mood is brightening,\u201d<\/p><\/blockquote>\n\n\n\n

said Georg Kofler later.<\/p>\n\n\n\n

"You've created a great product. You're basically a digital job portal for nonprofit organizations. I think the idea is super cool."<\/p><\/blockquote>\n\n\n\n

However, the economic and financial perspective does not convince him. Nils Glagau <\/strong>dropped out with a similar reason. Ralf D\u00fcmmel<\/strong> provided the social entrepreneurs with extremely positive feedback: <\/p>\n\n\n\n

"You're the ones who impress me most. Coming into the lion's den at 20 and 21. You stay calm and give answers and are unfazed. So, incredible. A huge compliment to both of you."<\/p><\/blockquote>\n\n\n\n

Unsurprisingly, however, the topic is not of interest to the investor, who is primarily active in retail.<\/p>\n\n\n\n

Plea for social entrepreneurship<\/h2>\n\n\n\n

Dagmar W\u00f6hrl was not comfortable with the combination of social commitment and entrepreneurship:<\/p>\n\n\n\n

\u201cI want to remain as voluntary in my field as I am, namely helping without profit, from the heart, out of conviction.\u201d<\/p><\/blockquote>\n\n\n\n

The founders responded with a plea for social entrepreneurship:<\/p>\n\n\n\n

\u201cWe believe that as a company you can achieve the most with entrepreneurial power \u2013 and you know that best,\u201d<\/p><\/blockquote>\n\n\n\n

says Ludwig Petersen.<\/p>\n\n\n\n

\u201cWe align social and business goals and approach the problem with this entrepreneurial, economic approach.\u201d<\/p><\/blockquote>\n\n\n\n

Even the desired investor does not join Letsact<\/h2>\n\n\n\n

Nico Rosberg<\/strong>, who, according to his own statements, is the founders' preferred investor alongside Georg Kofler, was visibly emotionally moved by the pitch.<\/p>\n\n\n\n

"This is an incredible solution you have here. I really got goosebumps, it's sensational."<\/p><\/blockquote>\n\n\n\n

However, Rosberg also disagreed with the profit-oriented business model. Should the founders decide to switch to a non-profit model, he would be on board.<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Letsact uses an app to connect volunteers with non-profit organizations. The two young Munich residents encountered strong opposition from investors in yesterday's episode of the TV show 'Die H\u00f6hle der L\u00f6wen' (The Lion's Den).<\/p>","protected":false},"author":26,"featured_media":64424,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5638,1],"tags":[706,4055,3094],"acf":[],"yoast_head":"\nLetsact: So erging es der Volunteer-B\u00f6rse in der 'H\u00f6hle der L\u00f6wen'<\/title>\n<meta name=\"description\" content=\"Letsact vermittelt ehrenamtliche Helfer an Non-Profit-Organisationen. 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