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Roundtable
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Thursday, April 21, 2016 · 4:32 p.m. · 22m 16s
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Out that that is a quantitative problem
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in terms of finding in europe. But I
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don't remember it is not the mean
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question that you thinking about I
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think when it comes to finding a year
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it was until a few years back the lack
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of experience investor. And and I
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personally gone through the experience
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of you know having invest on board some
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goats and saw you know that you know we
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we were successful despite having one
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boy. And and I've I've I got through
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the positive experience in case of sell
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out and and a few other companies of of
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working with some of the best investors
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came from the US but also from the UKI
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and see how you know what the positive
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spiral a company can get into and
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that's really something to aspire to
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because you know it is so so it is it
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is at least as as important to raise
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money something is always a
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prerequisite. But but from home. And
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and and it's an element of of of to see
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you invest which is very discussed not
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you want to react Um I think it
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couldn't agree more because if you live
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that the funding route two two
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different investors in people they have
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their own personality some of them a
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micro managing of a huge senses advise
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you on the side. So it's extremely
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important where you play guess an
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investor because on the one hand yes
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it's about the money and there is money
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in Switzerland just the question is
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whether this like a funding gap for
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different amounts of money. Um but much
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more important especially in a very
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really faces with that they can support
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you whether they have a network with
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that they're willing to use it because
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yeah I'm pretty sure not so many
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investors like yourself who is hands on
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it really working with the entrance
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some intravenous like it some time. So
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you have to know who you well I was on
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that or not to know who you want to
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pick as the best I think that's very
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important to do what you want to enter
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questions you would you please feel
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free to react on now At any point for
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other people want to champion we have
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done and what of them Mike and I will
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be jumping up to the people. But one of
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the things you want to absolutely
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performing from investors in terms of
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advice to go on a absolute tracks well
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in fact it's street between but a small
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the other thing to slacks. And you know
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in in the in the year two thousand to
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two you you see a lot of abuse
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conditions you've seen I I have seen in
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numbers location force you have this
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companies be drawn down you can see the
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scroll by doing this to you know has to
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do is for instance you a ten angels of
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which five all users too much time and
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and to to bankers you know wanting to
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get involved but then that you have to
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go with someone who is willing to
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understand how politics too and who is
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willing to to go all the way and based
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on the shared the intent information.
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And and I mean it's I I say to most
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people like toppings like it's like
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getting very "'cause" on average will
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be with them for seven years. So you
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better you better you better shoes
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supplies maybe talk own experience I I
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left them in for yeah have not such a
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big fan of brilliant like yourself
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office. But for example I want to start
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a company there and the off from some
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angel investors where like I think it
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was thirty thousand okay you're right
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for fifty percent of the company. It's
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very it's a very bad deal I and this is
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something that you have to be aware of
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when you when you want to stop the face
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when you where we enthusiastic about
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what you want to do because people
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might just want to chum on what you
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have there and doing that in the secret
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is absolutely ridiculous because you
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will value so much even if you have
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like the best product that the best
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business model but if you are left with
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nothing in yeah that's the found that
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there's no incentive for you to really
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push forward to it. So it is a
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definitely wrong investors to go away I
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I fully agree with you on the on the
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questions. I again I I write pull from
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a few days ago when you were seeing an
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entrepreneur usually two shouldn't
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become an expert in investment because
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we need to focus on your customers and
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business. But the same time you need
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when you buy be educated about what's
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wrong on the mini looks. So question
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please show you shouldn't shy that you
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usual the you know suits on we never
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ask questions as you know free stuff I
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guess on that's what happens so that is
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I think about like you know are here
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well you know I there is a so it's a
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question you you you you minute work
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yourself into is actually really you
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know as a different no one should just
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think to be about X it but which should
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have a understanding of what it means
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and what it consisted these you active
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know I think for instance that too they
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do make something that is on the very
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very of companies like feasible can
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Google is less and less worthwhile
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because these companies have very much
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for no himself very skilled and very
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fast. And and and what we've seen in in
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the in the in the past years is is is
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there just we whatever you thought was
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you ID you know. So so you know being
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white cultural fact that it's less
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likely you know you you'll have you
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have example like the climate
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corporation not that you know that that
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sort of one billion to Monsanto because
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the companies that you you you are
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strong they I have themselves are less
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likely to to have a type of skills and
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the any and so if you if if the traits
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what looking at at the section much
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better environment. So one of the
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reason to look at all topics is is is
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that it's you know you more we order
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for forty have that you put in french
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the other question but I think maybe
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that's that will be a need your expense
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Christina trying to enter the insurance
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or was that a comparatively because
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it's all you know is that I mentioned I
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think in terms of what Christopher just
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said if you have and in the industry
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that this all constructed yeah there's
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a huge potential so would we stopped
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with connect it actually felt like it
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green playing feel because we we didn't
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have a clue what would happen this is
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what we would be different companies
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know what before wasn't sure Agnes
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insurance to see respects. So we saw we
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we started and we just have to see
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whether the customs react and on the
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one hand and it's it's really cool to
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do that on the other hand you have to
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be very much aware that well we deal
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with with the incumbents that they have
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very old structures very very old core
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systems and that might actually be a
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breaking point because you have to
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start it might not be able to to to get
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into the system and especially things
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like if you have to do with insurances
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and Banks it's not so easy to start
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your back because you need a banking
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license or insurance license where you
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need like ten twenty thirty million.
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And first not have that's quite
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difficult to spot the license so it I
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think it's very much difference in
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terms of in which market you're in and
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how high the regulation is on the other
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hand I think the insurance base is
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amazing to be a because everybody hates
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insurance and so you guys are huge well
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you that you can I actually at terms of
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convenience to the people question I
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hear you there yes I don't know
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Christina that you were able to respond
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just yet. But that I want to many other
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on from the button on the especially
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here in your they tell me that in each
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you very would have a prototype people
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one. TV series. So I wanted to get you
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will advise you on with this to in she
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get the money to get it to but to
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develop prototype or trying sell it on
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the night but I I think I think is
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interesting but it was very very
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convincing and you eventual so have a
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very juicy business more so so I think
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people what what the business more and
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that's that's still possible you know
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you you you go out and you have a
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processing operation not just a
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business model. And the timing is right
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but if I decide exceptional signal as
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you know you it's it's it's very hard
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to to raise the more than than a
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hundred dollars and if you don't have a
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prototype or if you have a proven part
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of creation. So why I think people they
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don't expect beach seriously enough I
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mean in in your it's a problem one
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might be what is you have a nice is
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that my founders have great companies
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but the budget bitchy and but but
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having said that bikini you you I would
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try to focus on the product and maybe I
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can rebound that you have CD just today
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so if you had made the only one thing
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that you would that all the enter from
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theirs is the one common trait you
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would say this is what needs to be
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change or at least to be to anything.
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They ask you this difficult questions
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because you know we're trying to the US
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we have to perform as well I I think
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the the court the quality of the
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picture there was very good one one
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thing that I think is important is to
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keep some element of how you would work
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because because if you if you don't
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mention it's maybe you have you you
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don't know if you don't mention you
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projecting you projecting the image of
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of not knowing how to go to market and
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and and it's unfortunately going to
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market consumer adoption and the how
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easy you product is to use is eighty
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percent of the equation. So so that's
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that's something that needs to be
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expressed I would say in in a in a
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pitch Uh right here before me. oh thank
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you disk which is might be for
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christopher. a speculum ask you what
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PCHO what how much DIEY C. H. U. G. O.
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So I you know I I I don't to health
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care in my in in tech in the type of
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things that that I mean well I mean if
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I look back the role of accents have
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been marked. So so when you see I I I
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usually when you see an entrepreneur to
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say okay I have a patent therefore this
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is going to be successful it's not the
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case so I I I personally look at at
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that the company as as as a protective
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you know defensive measure but but that
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doesn't mean that you don't have a
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right to even come you know these days
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as we we we used to do maps we had a
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particular particular we can do to
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mental maps. I'll just to to Eden out
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faster than anyone else. And and that
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was a competitive advantage because our
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maps right. And we were able to do this
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on the on the much smaller CPU so
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that's that's but I would rather focus
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all going to market fast well they're
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not spending time on on but anything
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stuff and basically what I'm saying
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applies to to tech and and not to to
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have you know some of the best where I
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it in terms of like an idea would
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totally agree because it's like having
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the idea but in the end it's execution.
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So you can have the most amazing
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perhaps if you can't execute business
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model behind it it's worth not much. So
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I think it's the as its crystals that
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it's it's very I think the tech of and
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I have my but is a very important point
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that in the end whatever starts
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appearing it's about execution because
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so many people might have your idea
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maybe not the pattern but it very
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simple idea if they execute better that
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you they might be more successful oh
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yes if if if you if you manage to start
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a product to show something "'cause"
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differentiated I get most most success
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I mean all we're would not based on on
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on I think anything some of them have
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happened but it's not even perfect. so
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there's there's very guess think if
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Yukon hated anything that is today has
00:15:03
to do with can it because we brokerage
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but we just do it in a much better way.
00:15:07
So it how could you live the execution
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that makes a difference. hi my question
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is very related to what you're
00:15:17
discussing now which is protection
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somehow I'm when I'm not somehow that's
00:15:23
the amount of money you race can also
00:15:26
be protection because it allows you to
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go international five So how how could
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put these pointing to you know
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fundraising situation. Um impromptu of
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an investor So source P speed is you is
00:15:49
your best protection. And in most cases
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speed is you only production so so you
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know you you you have to some people
00:16:01
saw an investor me maybe maybe put off
00:16:05
you put off by the fact that something
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is too easy too easy repeatable. So so
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you you know you had an example of a
00:16:15
company doing the marketplace for them
00:16:18
at a low key. And we had to be but
00:16:21
because investors thought this is going
00:16:23
to be this once this work too many
00:16:26
people are going to do it that because
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it was just in a few that so so so
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there but but only it's it's not it's
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not tonight P that people invested but
00:16:40
its ability to execute one tonight the
00:16:43
kinds of theses for that would change
00:16:47
the whole field. I might add that the
00:16:54
raising money is is great because you
00:16:56
have something to do well but you need
00:16:58
to be aware how much I would see you
00:17:01
give away is well if your fundraising
00:17:03
because it means you can wait how in
00:17:05
the company to an investor. And that
00:17:08
this was exactly the question that we
00:17:09
have in our last round so how much how
00:17:11
much do we want to raise we had this
00:17:13
discussion in the board whether we
00:17:15
should take one more money because
00:17:16
that's like at all roll economical
00:17:18
situation as well might that be like a
00:17:20
bubble burst for fit a call for for
00:17:23
start ups in general. So will it be as
00:17:25
easy to raise money then that this is
00:17:27
something you have to be aware of as
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well. But I totally agree it's P just
00:17:31
the best protection you can have
00:17:33
therefore you need the money but you
00:17:35
need to be aware you will give way more
00:17:37
sense for more money continue situated
00:17:41
to money and also into naturalisation
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overtake that question and it's been a
00:17:45
struggle regularly it's about eternity
00:17:47
station I wrote one is the right
00:17:49
moments and we don't have this debate
00:17:52
for startups side you have to have a
00:17:53
home base yeah you have and you were
00:17:55
mentioning Christopher yourself you've
00:17:56
grown aggressive international very or
00:17:59
so for you what are the parameters used
00:18:01
to say nice the mama with then sure as
00:18:04
we all know we might need to read too
00:18:06
fast to disburse. So when is the right
00:18:08
moment for you with which parameters
00:18:10
you about now going to national or
00:18:13
international take international
00:18:14
investors So take international studies
00:18:18
never too early because you don't date
00:18:21
is event to to bounce back to the last
00:18:22
question. There's an number of
00:18:25
competitive landscape. It's got to the
00:18:27
to the rest as well. So imagine you
00:18:30
have a you have one idea and the
00:18:33
already three companies in that field
00:18:35
that the summer what fun it may be that
00:18:39
user but the company. But but you will
00:18:41
not get found that so so there is a
00:18:44
there is a race four finally that must
00:18:48
be taken seriously in the particular
00:18:51
field and with with the the property to
00:18:53
that you have to define for yourself so
00:18:57
so I wake up straighter actualisation
00:18:59
obviously that's that's very at
00:19:00
delicately like I I think for instance
00:19:03
that tech demon should not be spread
00:19:06
apart and in the case of sound about
00:19:10
the two or three other companies like
00:19:12
you what we have done is we have
00:19:14
skillfully establish the US market very
00:19:18
already as being a number one market.
00:19:20
But only was two or three people be
00:19:22
once because undertake team was in
00:19:25
probably in then was it really was very
00:19:27
inexpensive you we build a company
00:19:29
culture would be the the real company
00:19:32
but as far control Morgan said this
00:19:35
what we were you at school in terms of
00:19:40
funding of degree. So from me and not
00:19:44
even thinking on all of this national
00:19:46
international level fundraising it's
00:19:47
just fundraising that's what it is to
00:19:50
be in the end so whether I talked to
00:19:51
invest in Switzerland why the UK or in
00:19:53
the US that just pick the best one
00:19:55
nationality that's really matter for me
00:19:58
in terms of internationalisation this
00:20:00
is it's it's it's complex because you
00:20:02
need to be aware you start with the
00:20:04
team and we already started like in two
00:20:06
cities like invalid and in the right
00:20:09
and that brings complexity with unique
00:20:11
offices uni people that working for you
00:20:13
need a hiring process you have the IT
00:20:16
with us a better right so we have three
00:20:17
offices. And if you if you if you drove
00:20:21
you company culture from a very early
00:20:23
age in that setting this is challenging
00:20:26
in the beginning but it will pay off
00:20:27
later I think big because otherwise you
00:20:30
have to take like a TV to a different
00:20:32
location or you have to start from
00:20:34
scratch yeah but nobody should
00:20:37
underestimate internationalisation and
00:20:39
I think if you have like the business
00:20:41
that is somehow running then you maybe
00:20:43
can can do do this that but I think you
00:20:46
focus on your product first for you
00:20:48
think of internationalisation. you mean
00:20:51
focus on your product first I I might
00:20:53
be button one last more time like more
00:20:55
questions there why shouldn't so
00:20:59
"'cause" so one last point what you
00:21:01
mean by getting on the product which is
00:21:03
the moment like and so may yeah
00:21:05
typically. So with this was when we had
00:21:08
the feeling that we create the swiss
00:21:10
market. So I guess we had alterations
00:21:12
team and valiant but that was not
00:21:14
Germany S going into the market that
00:21:16
was just like it seemed working for us
00:21:18
which is much cheaper than than it was
00:21:20
here. And that that meant for us that
00:21:23
we had like the contract with the
00:21:25
insurance is right that that we had the
00:21:27
ad yeah we we wanted it to be and so we
00:21:30
have the feeling we're we we can do
00:21:33
which it's like now and then move into
00:21:35
the next country like ten times the
00:21:37
size as in Germany and the roll out
00:21:40
what we already have to try to improve
00:21:42
it because then you have to countries
00:21:44
that you have to deal with and to legal
00:21:46
systems into regulations and maybe two
00:21:49
different languages as well. So
00:21:51
customer service and all that the
00:21:53
complexities like right when you're
00:21:55
internationalised So you would like to
00:21:59
at least not topic at night or any
00:22:01
questions if there are no more
00:22:03
questions I think that time is passing
00:22:06
by we have a nice before five I would
00:22:10
like to give a very big on that was
00:22:12
christian and three four thank you very
Conference Program
Welcome message
Hervé Lebret, Jordi Montserrat
April 21, 2016 · 2:07 p.m.
326 views
Welcome message by SPECo
Raphaël Conz
April 21, 2016 · 2:14 p.m.
Keynote: How to raise USD 15+ M
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Pitch Uepaa
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Pitch Artmyn Technology
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Pitch Prodibi
Olivier, Co-founder
April 21, 2016 · 2:48 p.m.
1395 views
Pitch Embotech
Andreas
April 21, 2016 · 2:50 p.m.
1279 views
Pitch Sthar
April 21, 2016 · 2:52 p.m.
1336 views
Pitch Wingtra
April 21, 2016 · 2:54 p.m.
1529 views
Pitch Advanced Sport Instruments ASI
Julien
April 21, 2016 · 2:56 p.m.
2871 views
Vote for the Captain - Results
Jordi Montserrat
April 21, 2016 · 3:04 p.m.
Level-up BKW startup initiative
Christine Weber, Startup Manager, BKW
April 21, 2016 · 3:05 p.m.
Swisscom StartUp Challenge
April 21, 2016 · 3:07 p.m.
Keynote: Investing in international markets
Christophe Maire, Atlantic Labs
April 21, 2016 · 3:42 p.m.
149 views
Pitch Amphasys
April 21, 2016 · 4:05 p.m.
2466 views
Pitch Cellphmed
Nathaly, Co-founder
April 21, 2016 · 4:08 p.m.
1188 views
Pitch Intendo
Andrea Maesani, Co-founder and CEO
April 21, 2016 · 4:10 p.m.
1099 views
Pitch Interax
Martin Ostermaier
April 21, 2016 · 4:12 p.m.
1610 views
Pitch PB&B
April 21, 2016 · 4:14 p.m.
130 views
Pitch Pharma Biome
Thomas
April 21, 2016 · 4:18 p.m.
4075 views
Pitch Sunbiosciense
April 21, 2016 · 4:20 p.m.
3447 views
Pitch Selmod
Philipp Knechtle, CEO
April 21, 2016 · 4:22 p.m.
1536 views
Vote for the Captain - Results
Jordi Montserrat
April 21, 2016 · 4:28 p.m.
Roundtable
Panel
April 21, 2016 · 4:32 p.m.
Recommended talks
Discussion “Swiss Success: World Impact”
Panel
April 22, 2015 · 4:23 p.m.
Keynote 2: The story of Pix4D
Christoph Strecha, Founder & CEO of Pix4D
Nov. 6, 2014 · 1:01 p.m.
1143 views