STEP USA

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“Always get up one more time than you are being knocked down. It’s worth it!”

STEP USA is a 5-day startup boot camp launched and organized by the German American Chamber of Commerce New York (GACC NY). A highly successful program, it focuses on facilitating U.S. market access for young innovative companies and takes place four times a year. It also exists in a virtual format. STEP USA prides itself on having created a network of more 300 STEP USA alumni, more than 60 U.S. incorporations, and 35 investment rounds. It is tailored to the needs of startups who intent to scale their business internationally. 

The GACC NY is featuring selected STEP USA Alumni, calling these founders “STEP USA Ambassadors”.

“Always get up one more time than you are being knocked down. It’s worth it!”

STEP USA Ambassador Daniel Tykesson is one of the founders of E-bility GmbH. Founded in 2010 in Remagen by the brothers Patrik, Daniel, and Philipp Tykesson, they have been passionately promoting e-mobility and started producing high-performance E-scooters at their home base. E-bility GmbH currently employs 75 people. In November 2019, Daniel and his brother Patrik joined us for our STEP USA program in New York. Today he talks with us about his U.S. market plans, his most valuable take-aways from the STEP USA program, and has a word of advice on how to deal with strong lobbies and opponents.

GACC NY: Daniel, lovely talking to you. How are things working out for E-bility in the current economic crisis?

Daniel Tykesson: Good to see you as well. We fondly remember the STEP USA program that we were able to join last fall. I wish that traveling would be as easy again as it was last year… The corona crisis had quite a grip on us, especially as it was this year’s plan to heavily expand into other European markets. On the other hand, we are delighted to see how strong the interest in individual mobility solutions currently is. In times when using public transportation doesn’t seem as secure as usual, there is an absolute increase in the need to get from A to B quickly, flexible, and “Corona-compliant”. Our E-scooters are highly sought after at the moment.

GACC NY: Daniel, what does E-bility exactly do?

Daniel Tykesson: In 2010, my brothers and I had a vision of creating a family business. It’s a company that we want to pass on to our children as well one day. Our dream has always been to shape urban mobility. So we started creating E-scooters that did not only have a cool retro design but would also relieve the pressure of traffic hotspots in big cities while using green energy. Up to this point, we have sold 10.000 units. Our goal however is to have more E-scooters driving on European roads than gasoline-powered ones by 2030. To achieve this, we are constantly developing our Kumpan designs and are researching new ideas and technologies for our customers’ needs. Our E-scooters are made with passion, sophistication, and excellent German engineering. We are truly proud of each and every one of them.

GACC NY: I can tell! It’s really impressive that you were able to acquire Scrooser GmbH a couple of months ago. Tell us how you managed to get this accomplished?

Daniel Tykesson: It started with a successful 2-digit million venture capital round that enabled us to acquire Scrooser. It’s also a young and dynamic mobility company but with a different focus: Scrooser is producing big-wheeled carving E-scooters that are very popular in the tourism sector and are a fun lifestyle vehicle, perfect for beach towns and for the last mile in urban areas. They’ve built a strong brand in the past years so we are very happy to be now joining paths and complement our assortment.

GACC NY: Is that what you consider the greatest success in your company’s history?

Daniel Tykesson: Yes, the deal was great for us. But for me personally, the biggest milestone we ever reached was on the day we went into serial production with our E-scooters. They are really top of their class and manufactured in Germany.

GACC NY: Looking back, is there ‘a lesson learned’ that you can share with us?

Daniel Tykesson: Oh yes! Every business is competitive and has supporters or opponents. Our products are emotional ones, the retro design of our E-scooters either appeals to people or not. We found ourselves in legal struggles with the goliaths of our industry and were strong enough to stand our ground. They were not able to sweep us off the market. It’s about perseverance. You always have to get up one more time than you are being knocked down. It’s very hard, but it’s worth it!

GACC NY: Thanks for sharing this, Daniel! Please tell us why the U.S. market is important for you?

Daniel Tykesson: We are planning our next investment round and – needless to say – the U.S. is an excellent place for raising venture capital. Furthermore, we are constantly broadening our network and are on the lookout for new distribution partners. The U.S. is our best market with regards to retail, online sales, and shared economy strategies. In the meantime, we have founded our own U.S. subsidiary, which is truly exciting.

GACC NY: Is that why you joined our STEP USA program in November 2019? What were your most valuable take-aways from this 5-day boot camp in New York?

Daniel Tykesson: Yes, absolutely! Taking part in the STEP USA program was a no-brainer for us, as we were approached by the German American Chamber of Commerce New York directly. Being located in Remagen, we were able to receive generous funding from the federal state of Rheinland-Pfalz. The Ministry of Economics in Mainz funded a group trip for start-ups from our federal state. We were a group of 11 companies and grew into a really tight team in New York. Up until now we are still in touch and help each other out. With the backup of the Ministry of Economics in Mainz, we are also able to tap into their networks more visibly and this is truly helpful. At this point, I want to say a big “thank you” to the great staff there! I hope that many more Rheinland-Pfalz-based companies will get the chance to participate in such a funded program. It’s a game-changer!

GACC NY: What is your most valuable takeaway from the STEP program as an entrepreneur?

Daniel Tykesson: My biggest takeaway from the STEP USA program is that New York is the perfect spot to start out your American business. So many times, founders think that only Silicon Valley is the place to be, but New York offers it all: an excellent investor environment, a city full of potential clients, business opportunities everywhere, and exciting cultural scene as well as the “proximity” to Europe by being only six hours behind German time. That helps tremendously with doing business. It’s a very mature and fast-paced world and ideal to scale your business fast – if you have done your homework.

GACC NY: In your opinion, what do startups generally underestimate when coming to the U.S.?

Daniel Tykesson: Oh, there are many things. But I would say that in general the enormous size of the country as such is totally underestimated. You cannot conquer the market with one salesperson sitting in New York. My advice is to pick a certain target region and start from there. Get your product into the market. Build a network of dealerships and distribution partners there. Once you are successful in that one region, pick the next one and restart the process.

GACC NY: Could you share a success story that has its roots in the STEP USA program?

Daniel Tykesson: Absolutely! After having had a number of excellent meetings in New York, we were able to negotiate new importer sales contracts that resulted in us being able to kick off sales in the U.S., so thanks to you we really had a great jump-start!

We also got several introductions to potential venture capital investors that we are following up with currently. As we are looking into raising a new VC-round, the STEP USA program came for us at the exact right time.

GACC NY: We are happy to hear that – great! So, what are your next steps in the U.S.?

Daniel Tykesson: We are planning on being back in New York and the Valley as soon as the situation allows for it. Our focus is to expand our partner and investor network. We are definitively ready for the next step!

GACC NY: Daniel, thanks so much for taking the time for this interview and all the best for E-bility!

LivEye defies the Corona crisis and successfully closes 2nd financing round

With the conclusion of the 2nd financing round LivEye secures capital for further expansion.

LivEye started with the capital acquisition for the 2nd financing round shortly before the outbreak of the Corona crisis. The crisis has slowed down investments, but since July all contracts have been signed. LivEye was able to raise capital for growth in the amount of 3.5 million euros.

“We are pleased to have Sparkasse Trier and Volksbank Trier, two lenders at our side who are committed to innovative
products in conjunction with a solid business model,” says Carsten Simons, the company’s advisory board and STEP USA alumnus.

Marc Thurn, the managing director of LivEye adds: “The basis of both financing rounds has been the venture capital
department of the Investitions- und Strukturbank Rheinland-Pfalz in Mainz. We very much appreciate their support at state level.”

Founded in January 2019, the Start Up LivEye from Föhren (near Trier) specializes in guarding temporary risk zones
with mobile video systems. Many risk zones such as coal-fired power plants and a major construction site on the
Gotthard are among the clients using LivEye systems.

For further expansion, LivEye has already founded subsidiaries in Poland and Switzerland this year.
There are also regional offices in Oldenburg, Leipzig and Vienna. LivEye works with self-developed technologies, which are used in a research and development centre of its own.

About LivEye GmbH
LivEye GmbH specializes in the surveillance of temporary risk zones with mobile video surveillance systems. Very modern video surveillance systems are developed and produced under the brand name LivEye®. LivEye® maintains a research and development unit in addition to its own production facility in Poland. LivEye® offers the highest level of video surveillance around the world together with its own control centre.

“Forget Silicon Valley! New York is the best place for German startups to start their business in the U.S.”

 

About STEP USA:

STEP USA is a 5-day startup boot camp launched and organized by the German American Chamber of Commerce New York (GACC NY). A highly successful program, it focuses on facilitating U.S. market access for young innovative companies and takes place four times a year. It also exists in a virtual format. STEP USA prides itself on having created a network of roughly 300 STEP USA alumni, more than 60 U.S. incorporations, and 35 investment rounds. It is tailored to the needs of startups who intent to scale their business internationally. 

The GACC NY is featuring selected STEP USA Alumni, calling these founders “STEP USA Ambassadors”.

“Forget Silicon Valley! New York is the best place for German startups to start their business in the U.S.”

STEP USA Ambassador Dimitri Gärtner is the CEO of Framen GmbH. The company was founded in 2018 and currently employs 8 people. Located in Frankfurt am Main, Germany, Framen offers a geo-local and context-sensitive software thus enabling customers to hyper-target their clientele. In March 2020, just before the outbreak of the Corona pandemic in the U.S., Dimitri Gärtner joined us for our STEP USA program in New York. Today he opens up about his U.S. market plans, his most valuable take-aways from the STEP USA program, and has a word of advice on raising money in the early days of being a founder.

GACC NY: Dimitri, it’s great to see you again. How is Framen dealing with the effects of the current economic crisis?

Dimitri Gärtner: As you know we were part of the last STEP USA program in March this year – just before the borders were declared shut. We made it back to Germany at the very last moment, that was quite an unusual experience. Just like many other companies, we are working hard to keep our business up and running in these difficult times. One of our greatest challenges is that our customers postponed promotion campaigns and we cannot generate the revenue we are used to. However, the upside is that many restaurants, bars, gyms, and hotel chains request our solution exponentially – to display public information to their guests and thus generating revenue with their screens.

GACC NY: What does Framen exactly do?

Dimitri Gärtner: Our company schedules advertising campaigns on TV screens of hotels, co-working spaces like WeWork, bars, or gyms. Framen specializes in targeted advertising through screens in semi-public venues. Moreover, we work with many business partners, such as hotels, restaurants, offices, coffee bars, fitness studios, etc. Our purpose is to develop hyper-targeted advertising tools to connect with the matching audiences more efficiently and enhance sales.

GACC NY: It’s really impressive that you were able to get WeWork as one of your customers. Tell us how you managed to get them on board.

Dimitri Gärtner: Back in the third quarter of 2019, we started the first conversations with WeWork’s European management. We have proven the win-win-win for more infotainment and relevant offers for the members, more revenue for WeWork, and access to the screens through our software.

GACC NY: Is that what you consider the greatest success in your company’s history?

Dimitri Gärtner: Yes, we are very proud of this success. But I am also really happy to have met my co-founders Alexander Gärtner, Sveatoslav Podobischi, and Magdalena Pusch. As a team, we function so well and are able to tackle the challenges we have. It is uplifting to have people around you who take our business as seriously as I do. And to have some fun too, when our work is done. I am absolutely convinced that only if you have a firm fundament, you can build a stable business on it. With regards to recent success, we are super happy that during the Corona time, a hotel chain bought our solution for their TV screens as well. We love enabling our customers to grow their business.

GACC NY: Looking back, is there ‘a lesson learned’ that you can share with us?

Dimitri Gärtner: Absolutely. In our early days, we were looking for an investor and talked to several ones. We came across a business angel who wanted to give us EUR 100.000 for 30% of our company. My advice to founders in the first phase is to bootstrap as long as you can and to think twice which investor or business angel you want to take in. Consider your options carefully. Don’t go for the first offer that comes along, unless it’s a fair deal for both sides.

GACC NY: Thanks for sharing this, Dimitri! Please tell us why the U.S. market is important for you?

Dimitri Gärtner: We are always looking for new clients and ways to bring our software to life. I absolutely wanted to check out Times Square in New York and contact as many New York-based hotel chains as possible. And since WeWork is our customer and we believe in the scalability of our product, we felt it was about time to target the biggest market in the world. However, we just did not quite know which steps to take when. It is a major decision to start a business in the U.S.  On the one side there are so many opportunities, on the other side, it can go wrong big time if you want too much too fast.

GACC NY: Is that why you joined our STEP USA program in March 2020? What were your most valuable take-aways from this 5-day boot camp in New York?

Dimitri Gärtner: Yes, absolutely! Taking part in the STEP USA program was a no-brainer for us, as we were approached by the German American Chamber of Commerce New York directly. Being located in Frankfurt, we were able to receive a 50 % funding from the federal state of Hessen. That was truly helpful. At this point, I want to say a big “thank you” to the IHK Frankfurt and the Wirtschaftsministerium in Wiesbaden! I hope that many more Hessen-based companies will make use of this funding option.

My biggest take-away from the STEP USA program is that New York is the perfect spot to start out your American business. So many times, founders think that only Silicon Valley is the place to be, but New York offers it all: an excellent investor environment, a city full of potential clients, business opportunities everywhere and exciting cultural scene as well as the “proximity” to Europe by being only six hours behind German time. That helps tremendously with doing business. It’s a very mature and fast-paced world and ideal to scale your business fast – if you have done your homework.

GACC NY: In your opinion, what do startups generally underestimate when coming to the U.S.?

Dimitri Gärtner: I guess our cultural differences are underestimated. It’s quite interesting to see that Americans tend to be very enthusiastic when talking to you directly. For a German founder, it sounds promising and like an ‘easy sale’. But in actual fact, this is how Americans treat you in a polite and nice way, nothing more.

Another thing to keep in mind is that investment rounds in the U.S. are usually much bigger than in Germany. The reason for that is twofold: First of all, there is more venture capital in the market, and in general American investors seem to be ready to take more risks. And second, building up your business in the U.S. is very expensive. You just need more money, because rents, salaries and the costs of living are quite high.

GACC NY: Could you share a success story that has its roots in the STEP USA program?

Dimitri Gärtner: Sure! I was very satisfied with the meetings the German American Chamber of Commerce had set up for us in New York. Still to this day, we are positively surprised by their impressive business network. The scheduled meetings with German media agencies in New York proved to be a real success. We are still in touch with them and are planning our first joint projects.

GACC NY: That sounds great! So, what are your next steps in the U.S.?

Dimitri Gärtner: We are looking for more business contacts over there and would love to get more introductions to suitable partners. Once the travel situation allows for it, we want to be back to meet these leads in person. Of course, one day, we are also planning on opening a subsidiary in New York as well.

GACC NY: Dimitri, thanks so much for taking the time for this interview and all the best for Framen!

This interview helps startups get information on how to #scale #business #internationally. #STEPUSA #GACCNewYork #superchargeyoursales #b2bsales # b2bleadgeneration #leadgeneration #sales #scaling #usmarketentry #newyork #boston #b2b #networking #bestpractices

 

“The STEP USA program gave us important insights at the exact right moment – saving money and time”

 

About STEP USA:

STEP USA is a 5-day startup boot camp launched and organized by the German American Chamber of Commerce New York (GACC NY). A highly successful program, it focuses on facilitating U.S. market access for young innovative companies and takes place 4 times a year. It also exists in a virtual format. STEP USA prides itself on having created a network of roughly 300 STEP USA alumni, more than 60 U.S. incorporations and 35 investment rounds. It is tailored to the needs of startups who intent to scale their business internationally. 

The GACC NY is featuring selected STEP USA Alumni, calling these founders “STEP USA Ambassadors”.

“The STEP USA program gave us important insights at the exact right moment – saving money and time”

STEP USA Ambassador Naomi Owusu is the CEO of Tickaroo GmbH. The company was founded in 2011 and employs 31 people. Located in Regensburg, Bavaria, Tickaroo provides software as a service solutions (SaaS) for news and sports live storytelling. It also offers software development services for the German market, including designing, prototyping, development, and maintenance of the software.

Today Naomi Owusu talks with us about Tickaroo’s achievements, the importance of the U.S. market, and her insights on the STEP USA program.

GACC NY: Naomi, it’s a pleasure talking to you! How is Tickaroo getting through these economically challenging times?

Naomi Owusu: It’s good talking to you, too! I remember joining the STEP USA program in September 2017 and how excited I was to travel to New York. So much has happened in the meantime. The Corona crisis has had some effects on Tickaroo as well. Large sports events for example were not taking place which is a tough situation for our business. We lost significant budgets. As a consequence, we are extremely busy acquiring new customers in other segments such as public sector institutions and broadcasters as well as putting a lot of effort into supporting medium-sized businesses with digital transformation with our new brand madeby.tickaroo.com.

Needless to say, this means a lot of restructuring, reorganizing, and rescheduling in very, very short turnaround times. That can be stressful sometimes…

GACC NY: Yes, that sounds challenging indeed. But tell me, are there also things going well for you right now, maybe even better than you expected?

Naomi Owusu: I am happy how well everybody is working from home and how effective we can still be as a team. What we do to keep our business up and running is to really focus on our cash cows. We reflect on our actions more than ever to make sure that we use our resources in the best way possible. To keep in mind that every decision has an impact on your company’s success is an insight we all take to heart.

GACC NY: What do you consider the greatest success in your company’s history?

Naomi Owusu: I guess it is not the one ‘big thing’ that makes Tickaroo successful. I value all the small steps leading to success – ranging from excellent teamwork, interacting successfully with investors, using our networks and skills wisely. Every step leads to another step. Looking back, however, I am proud that we were able to expand our product range and offer more services to our clients. It took us some time to develop different products, but what we are offering is of great benefit to our customers. That’s really a satisfying feeling.

GACC NY: Looking back, are there things that you would have handled differently – a lesson learned that you can share with us?

Naomi Owusu: Absolutely. As a founder, you have to find the right path that works for you and your team. In the beginning, we focused our efforts on the development of our products and did not spend a lot of time or budget on marketing and sales. Looking back, I would change that. It’s important to find experts who talk about your product. My advice is to expand your brand and customer base on the market AND talk about it. Let people know why they need your product, get them engaged at an early point.

GACC NY: Thanks for sharing this, Naomi. Please tell us why the U.S. market is important for you?

Naomi Owusu: The U.S. market is one of the largest markets worldwide and we have developed products such as the Tickaroo Liveblog and our Tickaroo live sports Software as a Service. This is an extremely interactive real-time Cloud-CMS for high traffic media, sports, and broadcasting cooperations.  These 2 products are now at a point that they can be sold in the U.S. Furthermore, we have identified several relevant sources of revenue for Tickaroo over there.

GACC NY: Is that why you joined our STEP USA program in September 2017? What were your most valuable takeaways from this 5-day boot camp in New York?

Naomi Owusu: Yes, absolutely! I heard about the STEP USA program through my network and it was recommended to me. I must say that it exceeded my expectations by far. New York is an absolute hotspot for business and tapping into an existing network such as the GACC New York was extremely helpful. It was the guidance and well-organized meetings that made all the difference. It simply was the perfect opportunity to learn more about the U.S. market in a very short time.

My biggest take away from the STEP USA program? We learned how to start our business in the U.S. What was most insightful was how to approach investors and potential business partners with the information they want to hear. Marketing and sales start right there. This, I found, works quite differently from what we are used to in Germany. It was a true and important eye-opener!

GACC NY: In your opinion, what do startups generally underestimate when coming to the U.S.?

Naomi Owusu: It is expensive to start a business over there. I guess what is underestimated the most is to put aside a budget for entering this huge market. As an already busy founder, you need to be prepared that your attention shifts from doing business at home to doing business in a foreign market on top of everything else. When we realized that, we decided to wait a bit because we have a fast-growing business in Germany and still lots of potential to grow our revenue at home.

GACC NY: Makes sense! Can you share a success story that has its roots in the STEP USA program?

Naomi Owusu: Sure! During the individual pitch training that we received as part of the STEP USA program, we improved and streamlined our original pitch deck a lot. We completely restructured it by focusing on the key benefits our clients have when using Tickaroo. We always tended to be very modest and careful when talking about our success, our numbers, or our pretty impressive partner and client network. It seems we were constantly more focused on getting things done and less ready to communicate what we have achieved over the years. After the STEP USA program, we really started TALKING and SHOWING what we have accomplished. That is an important part of being successful in business and I am very happy to call this one of the biggest take-aways from the STEP USA program.

We also completely worked our marketing and sales strategy over and that opened some important doors for us in Germany. I feel that with this fresh approach, we were on the winning side because we managed to close some valuable accounts for Tickaroo!

GACC NY: Glad to hear! So, what are your next steps in the U.S.?

Naomi Owusu: We are looking for more business contacts in the U.S. and we would love to get more marketing and sales training focused on SaaS and B2B business. At the moment, we are hiring: we are also looking for excellent salespeople in the U.S. That is what we need most right now.

GACC NY: Naomi, it was great catching up with you! Thanks so much for taking the time for this interview and all the best for Tickaroo!

STEP Alumnus Anyblock Analytics GmbH Creates SeroStatus App

Anyblock Analytics created a new application called SeroStatus that allows any user to securely and easily store their COVID-19 test results certified by health officials on their mobile devices and present them at the airport, for example upon need.

For companies, cultural institutions and sports complexes, this would be an important contribution to returning to normal operation more safely and quickly, while complying with data protection and health protection regulations.

Click here to learn more about the SeroStatus app.

Click here to learn more about Anyblock Analytics.