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00:00:03
happy to be here like the replacement
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of that aside to sail obviously and not
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then is but I have to be a good
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replacement in terms of well we start
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just keep together and yeah I've been
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there from pretty much the first day
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when we sat down on the couch and with
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with thinking about what we could do
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after leaving an incubator which is
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very interesting if we see the office
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that down on the table here as well so
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we left an incubator to start our own
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company. And the yeah we start it can
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it in twenty thirty S like having the
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first idea Dennis and I met at
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essential way the finance incubators
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earache. And we left essential way
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because the setting was not like in
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chip or no real enough for us and you
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wanted to have our own company again.
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So because we were working before that
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in the finance space already we thought
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will stay that and we would just not
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having a financial background at all
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really looking into banking and
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insurance what we could do. And so we
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look that comparison the different
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comparison side I one and we decided
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well there has to be some kind of next
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move in that insurance pay. And we
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talked to some traditional broke as we
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we actually sat in some offices we get
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some kind of ended partnership
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apprenticeship really with the that
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brokers to understand how they work and
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this is how it came about so if I now
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look back this is now for twenty
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thirteen that we had the first idea now
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we had spring twenty sixteen we were
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incorporated in yeah spring twenty
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fourteen. So about two years now and in
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that time we well we grew to one
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hundred and twenty people in three
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countries we yeah we raise the biggest
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integrity in Switzerland with fifty
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million altogether we already raised
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about the round eighteen million. And
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yeah so of course you see very proud
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cofounder here and especially in the
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syntax space being a woman this is
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pretty pretty unusual so I'm pretty
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much the only one I think I know well
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and I have this will change after today
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have their lots of lots of women out
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yeah that's the once is not their own
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company and I hope maybe in some way I
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can be some kind of role model in that
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space as well just talking briefly
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about like what we do maybe use
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affirmative action it can it was pretty
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much your digital insurance broker
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meaning we aggregate what your
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insurances your whole portfolio it
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doesn't matter with which insurance
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company you while record right all your
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policies in the connect that with the
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can that you can can communicate with
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your insurance companies you can you
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can send the claim you can add a get
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new offers and everything that in just
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one that sex pretty much your insurance
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have in the digital world on your
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phone. And the funny thing about it is
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that whoever you talk to in the world
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everyone is like okay when did you come
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to my country we need that this is
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absolutely amazing because it's
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probably the best pizza in the world
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that you can do. And this is again one
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of the points by probably it was not
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easy but I think easier than for a lot
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of other start ups for us to raise
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money. Um exactly these other three
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office is very very much from the
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beginning we decided we will have to
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have would here in switzerland. And
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that but the operations of ready right
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from the start we had that in and then
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out the development is about right and
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that the setting was of course very
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good for us all again talking about
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internationalisation because the next
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step was very logical for us that was
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Germany because of the language but
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also because we already had it C team
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that in the beginning of course it was
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a challenge to have two offices right
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from the start but now in the growth
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phase of course that's very beneficial
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talking about the the biggest
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investment grounded in in films like
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that was fifty million to data to say
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that them more fits accompanies raising
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a lot more money than us because that
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would be very beneficial for the
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startup scene and the fin texting. Um
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of course we went international with
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our investors but pretty much right
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from the start not only in the series
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be also in the C drawn pools and the
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serious I and I never really got why is
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with start ups only looking for capital
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in Switzerland doesn't make sense to me
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because capital is international I
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think the stuff and we'll talk about
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that later as well. Um it's a what
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about the network of course so if if
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you have a network of investors which
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we have to talk to it's much much
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easier know I understand if you come
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from a university and don't have to
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start the background is very difficult
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just to get a clue where you could get
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money from so of course the next thing
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is it to the family and friends bags
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just guys about what local. Um but I
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think in in in in terms of where the
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money is where we have the funding gap
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here in Switzerland for the right place
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I think you need to go international so
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the topic of the day yes how to raise
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these fifty million invents a capital.
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And that was on the on the train this
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morning because I had to prepare the
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presentation on that right. Um I was
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thinking well of course I could go into
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like a deep dive into how we did the
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last round the series P but I'm not
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sure whether that's really interesting
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for you so Mike Mike my question first
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of all it is anyone in here raising a
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series be at the moment with ten
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million plus and up no okay that's what
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I thought if anyone raising a series a
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bit like three million plus okay one
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two three yeah that's great. So good
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luck with that but I think that
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probably more people in here that
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they're interested in starting a
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startup looking for like a seed funding
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and trying to get an understanding
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what's the most important thing if you
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study if you start your own company
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because he's raising these fifty
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million is really only like a very
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later milestone on a very very long
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journey if that's amazing it sound so
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easy like two years one hundred and
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twenty employees fifty million but it's
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not it's not at all and you have to get
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the basics right to get to that point
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because if you don't get the basics
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right it just might never get that the
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what are the basics and I think this is
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one of the things that we got right it
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can it without even knowing it. And I
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wrote down the things that I think it
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might be like the most crucial for
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starting the start so so it's of course
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the team so you need to feel
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comfortable with the people that you
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working with being complimentary on not
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having like a very tight this skills
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that then the idea of what most people
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probably think is the most important
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thing not sharing it keeping it to
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themselves trying that nobody can copy
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them. Um the business model of course
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is there a at one of the margins
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whatever the revenues talk with all
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that work then the timing is the timing
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right for my product. And in the end
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the funding so what we have probably
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supposed to talk about now. And a lot
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of young entrepreneur I think that yeah
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they need to raise money for us to get
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it to get started. And then that's a
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very good turtle on exactly that topic
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so one I like the crucial points the
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crucial basics for start up there was
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one guy and then an infrared and
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investing himself you look that is one
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hundred companies and that's another
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one hundred companies in the US who
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succeeded or failed and he tried to to
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to mention to prioritise these these
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five points in in order of priority in
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you know what a off importance to the
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this to the success of starts up and
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that's what we found out that the most
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important thing is timing it's not the
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product it's not the idea it's not the
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team it's that you have the right idea
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at the right time. And I think this is
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what I can totally agree when I look at
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know because probably yeah early yeah
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all the insurance is they just would
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have just send us away not interested
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but because of the pressure in terms of
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intake in terms of banking all these
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insurance is there where it well aware
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that there's like it it's to wave
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coming and they didn't have a clue
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what's coming that so we got a chance
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to talk to them and this is like the
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first point especially in in in fact
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you need to talk to these use
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corporations and if they're not willing
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to well you fuck. So yeah that was a
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very good starting point for us but
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they had like like it very like if
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feeling you down within themselves okay
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keys we need to try to understand what
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they're what they're talking about what
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they're thinking and then of course the
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team. So denison myself we a funny
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enough we we don't have an insurance
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background night of us and we yeah I
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guess the like the global big locally
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that when it comes to insurance
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brokerage did indeed it's well at the
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moment. So you see especially in that
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space you can make it without like it
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deep down knowledge but of course you
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need to get people on board very
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quickly that have the that have a clue
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what you're actually doing that. But
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you on you can't do it without the
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intramural very sober denison I we had
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companies before we had project before
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we fail that we we were successful. So
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we went through that whole startup
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stuff already before a few times the
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idea of course is like the most the
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most interesting thing and very very
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cool when I talk to my friend celibacy
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not have an idea I can see now I have
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an idea that like yeah I have many
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ideas but it's not about the idea in
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the end about the execution of course
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you need to have a good idea to really
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make a difference to convince other
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people that there's there's something
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cool that you're working on and exactly
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the same with the business model so you
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have to you have to look deep into how
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you can make that work because in the
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end. It's about making money it's about
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use and yes maybe the the first few
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years you might not make money and you
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might need venture capital to survive
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that time. But at some point in this
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this one to see figures they want to
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see a forecast they want to see what's
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coming out whatever whatever the
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potentials and so the small business
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model has to work. And then as the last
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thing what we should be talking about
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today's funding of course funding is
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absolutely necessary at to get
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something off the brown you need to
00:10:03
have you see money you have to invest
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it yourself and this is something that
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I can recommend because only if you
00:10:09
invest money yourself you are really
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committed if you take it's a capital
00:10:13
from the very first minute you will
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that you would very quickly and you
00:10:17
might not be as committed as if you put
00:10:19
your money in that so but before like
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Georgie and stuff kill me because I'm
00:10:25
not talking about funding as we should
00:10:27
be talking about funding. Um the good
00:10:30
news is you will get money this is
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something that I said before in a lot
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of interviews I'm not you should be
00:10:37
very to get mine but you have to have a
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great team a great idea a working with
00:10:42
that model and the right time. So this
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is where it comes back to the basics is
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this week I was sorry often on well
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there's not enough venture capital in
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Switzerland that's not enough capital
00:10:52
that's not true there is capital for
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the rights team and the right idea and
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the right execution. So if you if you
00:11:00
think that you got all these points
00:11:02
right I'm very sure you will get money
00:11:04
because especially at the moment with
00:11:06
the very low and the the interest rates
00:11:11
you a venture capitalist the more than
00:11:13
interested to find new investments in
00:11:17
terms of fund raising these inside a
00:11:21
very personal this is what I wrote down
00:11:24
this morning feeling that this made a
00:11:27
difference when I look at name when I
00:11:29
look at a bus stop the diner when they
00:11:31
pitch because as me being the the
00:11:34
president of the swiss Phi and finance
00:11:36
thought of association I see a lot of
00:11:39
startups pitching. And I I honestly
00:11:42
have to say I'm very sorry to say that
00:11:44
but I we that that's really struggle
00:11:46
with pizza. So if there is one big
00:11:48
thing that I can advise you all on get
00:11:51
you pitching stride train that because
00:11:53
in the end venture capital getting
00:11:55
money is all about selling. It's I
00:11:58
think that's just sums it up very
00:11:59
perfectly it's self confidence I think
00:12:02
if you if you ever met that is probably
00:12:03
the most self confident person in the
00:12:05
world. You will go into a room and will
00:12:07
blow everyone away just even if you
00:12:10
talks about stuff that doesn't have a
00:12:11
clue one you think he has a clear. So
00:12:14
this is this is extremely important.
00:12:16
It's exactly the same as second point
00:12:18
fake it until you make it even if you
00:12:21
don't have a clue even if they are
00:12:22
questions out that it might not be able
00:12:24
to answer that very second take it at
00:12:27
this very funny because when we raise
00:12:29
our first serious a with they with what
00:12:32
we see we where we didn't even have a
00:12:34
product at that point we were
00:12:35
fundraising on the PDF and was so
00:12:37
convincing telling them is this product
00:12:40
about this. I think the really because
00:12:43
if you want convincing if you convince
00:12:45
yourself you can convince other people
00:12:47
of course even though are you might not
00:12:51
have this product for like your very
00:12:53
first funding round of course you have
00:12:55
to know what you're doing that you have
00:12:57
to be the person who knows the ounces
00:13:00
because investors would not doing this
00:13:02
is one thing that I can tell you now
00:13:03
even after like two two and a half
00:13:05
years working with investors they have
00:13:07
some any investments you will have to
00:13:09
be the person who is in charge who's
00:13:11
driving that conversation with the with
00:13:13
the investors because they don't have
00:13:16
the time to so look deep into what
00:13:18
you're doing that. So it's huge it's an
00:13:20
advantage for you you should really
00:13:22
take but the thought I thought that
00:13:24
venture capitalist one about selling.
00:13:26
And especially in that in the time of
00:13:28
raising push for now don't wait for
00:13:32
people to come back to you of course at
00:13:35
at some point you have to wait and you
00:13:37
have to give them time to to to think
00:13:39
about the decision but if they're not
00:13:41
coming back to you with an answer
00:13:42
within like a considerable time you
00:13:45
have to push for now this is something
00:13:47
that I learned well I what I was that
00:13:48
having a sales job in London because no
00:13:51
then it did you know you can move on
00:13:53
you can put your yeah I think that in
00:13:55
in the energy into into new projects
00:13:57
into new investors. But yeah as long as
00:14:01
you waiting nothing there is on it's
00:14:03
just you you can continue with what you
00:14:05
want to do something that a lot of
00:14:09
young this is that the power does you
00:14:11
haven't done it before they think that
00:14:13
yeah just just fundraising easy just we
00:14:16
do that on the side and what take two
00:14:17
months and then we'll have the money
00:14:19
now. I think probably if you look at it
00:14:21
my year and it then this year like half
00:14:24
of the year is about fundraising and it
00:14:26
doesn't really matter how much money
00:14:27
you're raising because the more money
00:14:29
you raise the more money you will spend
00:14:30
and so very quickly you are in the same
00:14:32
face again. And it always takes much
00:14:34
longer than you think so you start
00:14:36
anything yeah maybe three months and if
00:14:39
I now look at our funding rounds. Maybe
00:14:41
not the first one not the family and
00:14:43
friends one but then after that six
00:14:45
months from start to finish this is
00:14:47
what you have to calculate on so you
00:14:48
have to get your start up to a point
00:14:50
where you can be gone for not six
00:14:53
months but that you have a different
00:14:55
job during that time so you want
00:14:57
operational side but also you want
00:14:58
fundraising not meaning you have to
00:15:00
dedicate time for that and the team has
00:15:02
to be aware of that and of course I
00:15:05
think this is probably the topic for
00:15:07
today look beyond Switzerland as I said
00:15:08
before we were we were racing all over
00:15:11
Europe in the first round and then in
00:15:13
in the US in the second round with that
00:15:16
with the route sixty six in QED and it
00:15:20
brings in a completely different
00:15:21
drivers well because you have to be
00:15:23
aware if you get investors some board
00:15:25
they're not only giving you money they
00:15:27
giving you a way of working and that's
00:15:30
it you and then we have thing can
00:15:32
change a setting for starts up as well
00:15:34
to the good or to the words. And I
00:15:38
think this is why this this event and
00:15:41
this program is so important because
00:15:43
you get an idea that's and that there's
00:15:46
a different world out there if you go
00:15:48
to Boston I think you get an impression
00:15:50
that yes this would select it's great
00:15:52
but in terms of start up there are
00:15:54
there are countries that that maybe
00:15:55
more advanced so convention capital
00:15:57
that is that just available in a very
00:16:00
different way than it is here in terms
00:16:02
of communication and pitching I think

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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
Christina Kehl, Co-founder Knip
April 21, 2016 · 2:23 p.m.
218 views
Pitch Uepaa
Mathias Haussmann, CEO
April 21, 2016 · 2:41 p.m.
4948 views
Pitch Artmyn Technology
Alexandre, Co-founder
April 21, 2016 · 2:44 p.m.
3126 views
Pitch ShoeSize.me
April 21, 2016 · 2:46 p.m.
2004 views
Pitch Prodibi
Olivier, Co-founder
April 21, 2016 · 2:48 p.m.
1391 views
Pitch Embotech
Andreas
April 21, 2016 · 2:50 p.m.
1279 views
Pitch Sthar
April 21, 2016 · 2:52 p.m.
1330 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.
2849 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.
2443 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.
129 views
Pitch Pharma Biome
Thomas
April 21, 2016 · 4:18 p.m.
4075 views
Pitch Sunbiosciense
April 21, 2016 · 4:20 p.m.
3425 views
Pitch Selmod
Philipp Knechtle, CEO
April 21, 2016 · 4:22 p.m.
1529 views
Vote for the Captain - Results
Jordi Montserrat
April 21, 2016 · 4:28 p.m.
Topadur
Reto Naef, CEO
April 21, 2016 · 4:29 p.m.
5638 views
Roundtable
Panel
April 21, 2016 · 4:32 p.m.

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Simon Delalay, Co-fondateur et CEO d'Imperix
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