The start-up scene actually meets every year for the Oktoberfest in Munich at the Bits & Pretzels trade fair. But this year everything is different. The organizers tell in an interview with ntv.de. Andy Bruckschloegl, Bernd Storm van's Gravesande and Felix Haas, how they still bring startups and investors together and how young entrepreneurs get through the crisis lightly.
ntv.de: The start-up fair Bits & Pretzels has to be moved online due to the corona pandemic. How is that supposed to work?
Andy Bruckschloegl: Transferring an event to digital is not a problem from a technical point of view. That can be done quickly. The difficulty we had to face was a different one: How do we manage to make emotions and individual experiences digitally tangible at the event? The previous solutions on the market have not convinced us. Many providers just digitize physical events without addressing the business value or the interests of the participants. We wanted to try something different and built our own creative platform. We not only use Minglecloud ourselves, we also offer it to other partners and, in addition to our digital start-up breakfast, have already implemented the world's largest sports fair, ISPO, with around 35,000 participants at the beginning of March.
The Oktoberfest visit is the biggest highlight for Bits & Pretzels. What is happening instead?
Bernd Storm van's Gravesande: Bits & Pretzels stands for more than just networking in an Oktoberfest tent. But of course we miss it painfully to network and celebrate with 5000 founders at the Oktoberfest. The founders mainly come to us to develop their startups and to find inspiration. That is why, in addition to various network formats, we also offer informative master classes that are designed for every scenario and every start-up phase.
A virtual conference has the disadvantage that there is no spontaneous exchange between founders and potential investors. Can Zoom and Google Hangout Meetings Really Replace That?
Andy Bruckschloegl: Zoom and Google Hangout Meetings certainly not, that's why we came up with a completely new format – the "Founders Roulette". Participants are randomly connected to other guests via video. This gives us the popular conference effect, where you happen to meet your next co-founder in the café queue or maybe an interested investor or one of our world stars. We also converted our popular "Table Captain" format to digital. The participants can sit comfortably on their sofa with the founder of Shazam, Chris Barton, or the co-founder of Social Bee, Zarah Bruhn, at a digital beer table, discuss their ideas or meet their next business partner.
How is the new concept accepted? Have more or fewer participants registered than last year?
Felix Haas: We have introduced a maximum number of 5000 participants for each Bits & Pretzels, but we want to enable more people to participate with our digital format. We are therefore looking forward to numerous registrations and, above all, the great interest shown by many partners. That surprised us positively.
In the scene it is said: Startups are better able to adapt quickly to new situations and crises. Is that correct?
Bernd Storm van's Gravesande: First of all, of course, you have to say that the situation is a challenge for the whole scene. It was a shock for us too. How companies react to this varies greatly. However, there are some factors that speak clearly in favor. Young companies are usually well positioned strategically. You have a first-class spirit, motivated teams and a lot of brainpower. You can adapt to unfamiliar situations more quickly, which is a great advantage. Above all, crises require innovative solutions and quick adjustments. This is basically the core business of all startups.
How do companies with no reserves and no profits get through the crisis lightly?
Bernd Storm van's Gravesande: The most important thing is to keep a cool head, but still react quickly. For example, using state aid, talking to investors on an equal footing and finding solutions together. On the other hand, you have to communicate openly with the team immediately. It is worthwhile to discuss options together. That creates trust and clarity in the team. This can also result in opportunities, as the startup Seatti shows, for example. During the Corona period, they brokered vacant hotel rooms to people who could not work in the home office.
Will potential investors get cold feet because of the corona pandemic and will this reduce the chances of successful financing?
Felix Haas: Investors have become more cautious. But that doesn't mean that a good idea or breakthrough technology won't find funding – on the contrary. Crises always offer an opportunity for new, innovative approaches. Corona has not triggered a digital revolution, but has reinforced existing social tendencies. Startups have the opportunity to help shape this disruptive change. Most investors will therefore continue to invest when they are convinced of an idea.
The first funds from the federal government's two billion euro aid package have now flowed. Will that be enough?
Felix Haas: Most startups will have further financing difficulties in the next few months. Here we absolutely have to think about solutions, otherwise important innovations "Made in Germany" could simply be lost. It's not about saving everyone either. However, we should definitely try to keep the healthy and promising business models. But to go into these two billion: The federal government is supporting Lufthansa alone with silent contributions of 5.7 billion euros. Lufthansa employs around 138,000 people. For comparison: more than 150,000 people work in the entire German startup scene. Ascending trend.
Juliane Kipper spoke to Andy Bruckschloegl, Bernd Storm van's Gravesande and Felix Haas
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