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innovation

STEP USA Alumnus MOTOURISMO raises 1 million Euros – US market expansion in progress

July 26, 2021

photo by Motourismo

STEP USA Alumnus MOTOURISMO raises 1 million Euros – US market expansion in progress

International round of business angels and strategic motorcycle partners investing in specialized travel for global audience

Hamburg/Oss/New York, July 26th 2021
Downloads: press release as a pdf, doc, fotos
Motorcycle travel platform MOTOURISMO.com has raised a total of more than €1M in a seed funding round. New investors are Dutch motorcycle apparel brand REV’IT!, business angels from the U.S., Israel and Europe, Austrian Danube Angels network, U.S. motorcycle community ADVrider and Hamburg-based IFB Innovationsstarter GmbH and its Corona Recovery Fund. Howzat Ennea Group advised the startup on the transaction and is also participating in the round.

MOTOURISMO will use the funding for further international expansion and technical development. “We can now intensify our preparations for the upcoming travel boom at the foreseeable end of the pandemic at full speed,” says co-founder and CEO Michael Carlin. “We are convinced to invest in tourism and in high-quality, specific services for a demanding, international target group right now, even more so in a previously completely underestimated market.”

“As a travel startup, being able to raise a seven-figure amount in the current situation is an impressive sign of the potential of our segment,” adds co-founder and CMO Christoph Kähler. “We are very much looking forward to continuing our successful path now with the support of our new, international shareholders.”

MOTOURISMO is running a combined concept of booking platform and online travel agency, joining forces with around 100 special travel partners from all over the world. In its beta phase, MOTOURISMO was initially launched in German-speaking countries and was awarded the Best Travel Technology Award of the German Travel Industry Club in 2019; and, since the beginning of 2020, it has also been serving a so far barely digitized mass market in English language.

For the first time on MOTOURISMO.com, the global target group of several hundred million motorcyclists will be able to search, find and book thousands of experiences quickly and easily, from small day trips to long-distance travel packages lasting several weeks. The portfolio is supplemented by motorcycle training courses and motorcycle shipping. In addition, further categories are planned.

The search engine on MOTOURISMO.com lists the services of its partners and provides motorcyclists with tools to find relevant trips, training and shipping with granular filters for targeted search by region, date and motorcycle-specific services and categories.

“We are very excited to be part of MOTOURISMO’s journey into the future”, says Ivan Vos, managing director of REV’IT! Sport International. “As a leading apparel brand in the motorcycle industry, our mission is to inspire people to ride. We do this not only by developing high-performance, well-designed and certified motorcycle apparel, but now also by offering specialized services and unique customer experiences. Bringing the benefits of the MOTOURISMO platform to the attention of our global customer base, we provide access to a unique service and the opportunity for great riding experiences. At the same time, MOTOURISMO benefits from our reach through a variety of marketing-communication channels and may expect new platform users coming from the global REV’IT! riding community.”

MOTOURISMO will also keep up its existing cooperation with Louis, Europe’s number one retailer of motorcycle apparel and accessories. Further cooperations with partners from the international motorcycle and travel industry are in motion – now with REV’IT! in particular. Special REV’IT! MOTOURISMO experiences will be coming soon.

Michael Buller, Chairman of the German Association of Online Travel Distributors VIR, sees the seed financing round as a “very successful signal to young founders, especially in Corona times”. Since 2019, MOTOURISMO has been a member of VIR which includes more than 80 companies operating in digital tourism.
Contacts:

MOTOURISMO by tripsntracks UG
www.motourismo.com
Gluckstraße 57 | 22081 Hamburg | Germany

Michael Carlin | Co-Founder
m +49 171 2703537 | e mc@motourismo.com
Christoph Kähler | Co-Founder
m +49 163 2505851 | e ck@motourismo.com

REV’IT! Sport International B.V.
www.revitsport.com
Egbert Egbers | Global Marketing Director
Vorstengrafdonk 20 | 5342 LT Oss | The Netherlands
t +31 412 696 787 | e eegbers@revit.eu

Danube Angels GmbH
www.danubeangels.com
Paul G. Putz, MBA | Managing Director
Otto-Bauer-Gasse 4/4 | 1060 Vienna | Austria
t +43 1 382 00 23 | e paul.putz@danubeangels.com

ADVrider
www.advrider.com
New York | USA
e contact@advrider.com

Howzat Ennea GmbH
www.howzat-ennea.com
Jan-Frederik Valentin | Partner
Schönhauser Allee 44 | 10435 Berlin | Germany
t +49 151 5362 3952 | e jan@ennea.vc

Filed Under: News, Success Stories Tagged With: alumni stories, GACC NY, innovation, internationalization, startup, STEPUSA, success

STEP USA University Program – in cooperation with DWIH New York

June 22, 2021

STEP USA Virtual: 4-day boot camp on how to enter the U.S. Market 

Get a head-start on your future U.S. market expansion!

Register here: http://www.stepusa.io/registration

The German American Chamber of Commerce New York introduced the STEP USA program in 2014. Since then, more than 300 companies participated in the program and are now part of our Alumni Network. Following the proven track-record of STEP USA, we created STEP USA  virtual, a 4-day immersion program for startups and entrepreneurs uniquely designed and adapted in direct response to the current needs of startups to enable companies to join and work from anywhere.

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Your package includes:

Participation in the basic 4-day virtual program (up to 2 people from one startup) from Dec 6 – 9, 2021

STEP USA VIRTUAL program participation fee: EUR 750,- per company

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STEP USA VIRTUAL Agenda at a Glance:

Dec 6 – 9,  2021

Monday
15:00 – 16:00 Welcome & Founder Introductions 
16:00 – 16:30 U.S. Economic Update
This session will provide insights and a snapshot of changes in the current U.S. economy.
16:30 – 17:30 Legal, Employment & U.S. Incorporation
A holistic view of the fundamentals of doing business in the U.S. and important factors to consider.
17:45 – 18:45 Insights into U.S. Tech Ecosystems: Boston, New York & Silicon Valley
Regional experts will discuss top innovation outposts in the U.S. and share insights on how these world-class startups thrive.
Tuesday
14:45 – 15:00 Daily Check-in
15:00 – 16:30 Power of Messaging & Storytelling
Learn to develop a clear and direct message and achieve a well-crafted sales, marketing and fundraising pitch.
16:30 – 18:00 IP Law: How to protect your product / service in the U.S.
17:45 – 18:45 Founder Networking & Best Practices Exchange
Wednesday
14:45 – 15:00 Daily Check-in
15:00 – 16:30 Sales & Productivity Market Fit
Get expert advice on your product and if it’s delivering the needs of your target customers.
16:45 – 18:00 Why Startups need PR?
Thursday
14:45 – 15:00  Daily Check-in
15:00 – 16:15 Investor Insight and Current State of Funding & Raising Capital
Deep dive into how international companies raise money from U.S. investors and current investment landscape from expert investors.
16:30 – 18:00 Networking with U.S. based founders & industry experts 
18:00 – 19:00 Wrap-up & Evaluation

Please note that the agenda is subject to change and will be adapted to the needs of the participants. All times are in German time zone. 

Filed Under: NYC Ecosystem, STEP USA Week, Welcome Tagged With: GACC NY, innovation, internationalization, investment, New York, STEPUSA, VC, webinar

The STEP USA program has opened many doors for us!

January 5, 2021

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 in New York. It also exists in a virtual format. STEP USA prides itself on having created a network of more than 360 STEP USA alumni, around 65 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 has opened many doors for us!”

Located in the heart of Hamburg, Nitrobox GmbH was founded in August 2012 and currently employs 40 people. In February 2020, the successful fintech company won Porsche Ventures and NeueCapital Partners as investors, raising a first institutional investment. Nitrobox is growing rapidly and has just won the Deloitte Technology Fast 50 Award – being one of the Top 10 growing software companies in Germany. In March 2019, CEO Henner Heistermann joined us for our STEP USA program in New York. Today he talks with us about their U.S. market plans and their most valuable take-aways from the STEP USA program in New York.

GACC NY: Henner – congrats on your investment! Tell us about what Nitrobox does and what makes you so successful?

Henner Heistermann: Good seeing you again – it’s been a while since we were in New York. Generally speaking, we are a fintech company located in Hamburg. We develop a SaaS solution that enables our enterprise customers to monetize digital business models such as subscriptions or pay-per-use very quickly. Nitrobox is a smart technology that combines all the necessary functions in a central platform and thus enables companies to handle their digital revenue and accounting processes from anywhere in the world – almost in real-time and very cost-effectively. Customers love about our product that they can integrate our software into their existing systems. We use state-of-the-art API interfaces that make it possible to quickly extract and process the necessary data from existing financial systems and providers.

GACC NY: How are things working out for Nitrobox in the current economic crisis?

Henner Heistermann: The Corona pandemic is taking its toll on all of us, both in our private and business lives – no doubt about that. In the beginning, our greatest concern was what impact the crisis would have on our customers. Because if they were affected, so would we. Some of our most important customers are well-known automobile manufacturers and mobility providers. And as we all know – the crisis had a massive impact on this industry. On the other hand, however, the crisis has boosted many digital projects in the automotive world.

GACC NY: Are there things going better for you than you expected?

Henner Heistermann: Oh yes, this also surprised us at first. Our customers’ digital projects, in which we had already been involved in the planning and expansion, all of a sudden experienced a real boost. Even additional projects such as online car sales were brought forward so that the crisis did by no means have a negative impact on our business. We are of course very pleased about this.

GACC NY: That’s really wonderful to hear. What do you consider the greatest success in your company’s history?

Henner Heistermann: About two years ago, we won Porsche as a new customer. Porsche recognized the importance of digital business models early on and saw our solution as a strategic building block for their company. During the initial talks, it very quickly became clear that we share the same ideas and visions. The implementation of various projects went very smoothly. It’s a great feeling that such a renowned company has chosen our product, believes in our vision and continuously handles further digital business models via our platform. In early 2020, Porsche together with a US venture capital fund invested in our company This is, of course, a fantastic success for the Nitrobox and a tremendous vote of confidence.

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

Henner Heistermann: Sure! For our product, we initially had a completely different target group in mind. At first, we didn’t offer our solution to the large enterprise companies that we count among our customers today. We were very active in the midmarket segment. But that was not as successful as we had hoped, because our solution suits large companies much better. Our product-market fit was simply not ideal. When we realized that, we had to completely realign our marketing and sales processes. That was a tremendous challenge, which we, fortunately, managed to master in a short time. In retrospect, we should have focused on large enterprises right from the start. That was an important learning experience for us.

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

Henner Heistermann: Well, in Germany, many companies are very reluctant to adopt new business models – although they should do so particularly right now. They still tend to rely more on so-called “good old German engineering”.

Companies in the U.S., however, are generally more open to new ideas. This is probably due to the fact that they recognized early on that new business models will establish themselves very quickly because customers are increasingly demanding flexible digital services. The most important thing on the US market is 100% customer happiness, a unique selling proposition that every company strives for: returning, happy customers who are then also willing to buy more.

Companies like Uber, Netflix, and Amazon are excellent examples of what the subscription economy has produced and made successful. We at Nitrobox are going a step further. We are enabling “pay by use” business models. Conventional American software products in that segment tend to usually be cumbersome, often too expensive, not very flexible, and designed for only one use case. Nitrobox, however, can be used worldwide in any language, in any currency, and with high flexibility to adapt – for any new business model. The best part is that there is no need for lengthy and cost-intensive adaptations to the client’s existing software systems.

As a result, we help our clients save up to 75% of their costs in the order-to-cash process – money they can invest in new digital business models. Many American companies are quick at starting innovative projects. In my estimation, Germany still needs about one to two years in this process.

GACC NY: Is that why you joined our STEP USA program in March 2019?

Henner Heistermann: Yes, absolutely. When we heard about the STEP USA program, my co-founder Sven and I were immediately thrilled. Within that one week I spent in New York, we got an excellent overview of the U.S. market. In the course of the STEP USA program, we got important introductions to potential partners and investors. When we came to New York, we already had the first customers using our product in the U.S. and it was clear to us that we wanted to enter the world’s largest market for business software in the medium term.

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

Henner Heistermann: The STEP USA program was a great experience for us as entrepreneurs. We had the chance to learn firsthand what is important when establishing a subsidiary in the States, where the special challenges lie, and where to get support. A real highlight was the STEP USA Pitch Night at the “Deutsche Bank Labs” directly on Broadway in New York. As a comparatively young start-up from Germany, we had the unique opportunity to put all the experience and input we gained from participating in the STEP USA program directly into practice in order to convince potential partners and investors at the pitch. And, this much I can say, exciting discussions and contacts have developed, which now need to be intensified. We are therefore very confident about our business activities in the U.S. market.

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

Henner Heistermann: I am convinced that the best way to be successful as a German company in the U.S. is by having a sustainable network with good local partners. I think that is underestimated by many entrepreneurs at the beginning of their U.S. business start. In all industries, the companies there are very well connected and form alliances to benefit from each other. As a German company, it is often not easy to find the right “door opener”. In addition, as a non-American, you first have to learn and understand the market, the culture, and the way of doing business. The U.S. market has many rules of its own and many unwritten laws that you have to know and understand. A local business partner can be very helpful and save you from unnecessary harm.

GACC NY: Is there a success story that has its roots in the STEP USA Program?

Henner Heistermann: Whenever we talk to potential customers from the U.S. today, the knowledge from the STEP USA program is of great benefit to us. In the course of the program, we have learned a lot of practical tools that work very well, such as: How do you pitch your company to an American investor? How does a conversation with an interested American business partner work? What legal hurdles could there be? This knowledge in the back of our minds helps us a lot in business conversations today and has already opened the door for more projects. I believe that without this important experience from the STEP USA program, we would have learned things the hard way much more. We are very grateful for this.

GACC NY: Wow, that’s wonderful to hear! So, what are your next steps?

Henner Heistermann: We have many plans for the upcoming year. Among other things, we will focus more strongly on the U.S. market. To this end, we are planning on opening an office in New York City. This is of course a big step for Nitrobox. Besides Hamburg, Stuttgart, and Cracow, New York would be our fourth location. That’s a big deal for us, and one in which we could certainly use some know-how and support. We also looking into strategically expanding our network in the United States, creating awareness for our company and our smart solution. We appreciate very much having the opportunity of being part of the STEP USA Ambassador Club. Thank you – that makes us very proud.

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

Filed Under: Blog, Interview, NYC Ecosystem, STEP USA Ambassador, Success Stories Tagged With: alumni stories, business, GACC NY, innovation, internationalization, Interview, networking, startup, STEPUSA, VC

“Change – it’s a chance, not a threat!”

November 11, 2020

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 than 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”.

“Change – it’s a chance, not a threat!”

STEP USA Ambassadors Claas Blume and Thomas Vorsatz, both co-founders of Berlin-based Clous GmbH, join us for this interview on their current business situation. Being a Fraunhofer spin-off, Clous GmbH was founded in November 2019 and currently employs 6 people. In December 2019, Claas and Thomas joined us for our STEP USA program in New York. Today they talk with us about their U.S. market plans and their most valuable take-aways from the STEP USA program.

GACC NY: Claas and Thomas – it’s great talking to you! How are things working out for Clous in the current economic crisis?

Claas Blume: Nice being in touch again! It’s hard to believe that it has been almost a year since we joined the STEP USA program in New York. So much has changed in the mean-time. The mechanical engineering industry around the globe is suffering enormously from the COVID crisis. For us, as a newly founded company, it is already difficult as such to win new clients. But the fact that many of our potential customers have empty order books themselves makes our situation even more challenging. However, to end on a positive note, we expected raising venture capital for our growth phase to be more difficult at this time, but our investor relations work very well – even during this lockdown. This is definitively a good sign.

GACC NY: Thomas, what does Clous exactly do?

Thomas Vorsatz: The core of Clous is our technology, which automatically fragments complex CAD designs into smaller and independently solvable tasks and reassembles them after successful processing. This way, we open up completely new perspectives, especially for medium-sized companies in mechanical and plant engineering. A new type of collaboration makes it possible to optimize internal processes, to seamlessly integrate service providers from all over the world, and also to meet the new requirements for remote work.

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

Claas Blume: The sum of the many small successes is certainly our greatest success. We were able to create a great product and convince investors of our idea despite tough circumstances. We are particularly pleased that we were able to win APX, one of the leading accelerators, for our company.

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

Claas Blume: Absolutely! At the beginning of Clous, we trusted every spoken commitment given by investors or clients. Meanwhile, we have learned it the hard way that a commitment is only a commitment when the ink on the contract is dry.

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

Thomas Vorsatz: There are several reasons for that. First of all, the mechanical engineering industry in the U.S. is very strong and the market size is immense. And the industry is facing the need to digitize business as well. It is not a secret that the mechanical engineering industry is quite conservative, especially here in Germany. Even though the industry understands that something has to change, many companies refuse to see the need to adapt their business models. We feel that companies in the U.S. are much more open to new technologies and are seeing change as a chance, not as a threat.

GACC NY: Is that why you joined our STEP USA program in December 2019?

Claas Blume: Yes, absolutely! It was the perfect opportunity to get to know the U.S. market in a compact way, to make first contacts, and to develop a strategy for a future market entry.

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

Claas Blume: Our biggest takeaway from the STEP USA program is the number of valuable contacts we gathered. We now know where to turn to if we want to found a U.S. subsidiary or if we have tax-related questions. We also met with investors, enjoyed U.S. pitch training, and learned a lot on how to shape our U.S. product-market fit.

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

Claas Blume: It depends on many factors, but in general I would say that the sheer size of the market and its competitiveness can be overwhelming in the beginning. It’s hard to get enough visibility if you only have a limited budget.

GACC NY: So, what are your next steps?

Claas Blume:  Our next big milestone is to expand business within Germany and get through the COVID crisis in good shape. We are also continuing to implement our market entry strategy. This means we are entering a specific market segment – the tool and die makers in Germany – providing them with great added value. If we have a certain relevance there and also get a 5/5-star rating, we will grow into broader markets. In addition, we are planning to get another business angel on board in March 2021 in order to leverage great financing from Landesbank Berlin (IBB).

GACC NY: Last question: On Nov. 7, 2020, Joe Biden won the election as the 46th U.S. President. Does that have any implications for your business?

Claas Blume: I hope that the election of Biden will improve the transatlantic relationship and above all that the U.S. as a deeply divided country will be able to overcome their current challenges. Stability, a reliable legal framework, and intact business relations are important factors for us once we are ready to take the step into the U.S. market.

GACC NY: Claas, and Thomas, thanks so much for taking the time for this interview and all the best for Clous!

Filed Under: Interview, STEP USA Ambassador, Success Stories Tagged With: alumni stories, business, GACC NY, innovation, Interview, networking, STEPUSA, STEPUSAAmbassador, VC

STEP USA Alumnus Gridscale raises 7-digit investment

November 9, 2020

gridscale
+++ Der Frankfurter Mittelstandsfinanzierer creditshelf stellt gridscale eine siebenstellige Wachstumsfinanzierung zur Verfügung. “Ziel ist es, damit einerseits das Geschäftswachstum und andererseits die technische Entwicklung voranzutreiben. So soll in Zukunft die Produktpalette sinnvoll durch neue Features und Erweiterungen ausgebaut werden”, teilt das Unternehmen mit. Das Kölner Startup, ein Anbieter für Infrastructure-as-a-Service- und Platform-as-a-Service-Lösungen, konnte im vergangenen Jahr Investoren wie Endeit Capital, EnBW New Ventures, EnjoyVenture und den High-Tech Gründerfonds (HTGF) gewinnen. Insgesamt flossen dabei 7 Millionen Euro in das 2014 gestartete Unternehmen.

Filed Under: Success Stories Tagged With: business, gridscale, innovation, internationalization, investment, startup, STEPUSA, VC

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

July 8, 2020

 

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

 

Filed Under: Interview, STEP USA Ambassador Tagged With: alumni stories, business, GACC NY, innovation, internationalization, Interview, startup, startups, STEP USA Ambassador, STEPUSA

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