Latest / Startup & Tech News from Germany, Austria, and Switzerland by Startuprad.io™ / German Startup News – May 2024: DACH's Startup Scene Roars Back
Transcript
- WEBVTT 1 00:00:05.759 --> 00:00:09.325 Welcome to Startupradio rad dot io, 2 00:00:09.325 --> 00:00:12.865 your podcast and YouTube blog covering the German 3 00:00:12.932 --> 00:00:16.700 Startupradio with news, interviews, and 4 00:00:17.000 --> 00:00:20.600 live events. Hello, 5 00:00:20.600 --> 00:00:24.360 and welcome, everybody. This is Joe from start up rate dot aero, your Startupradio 6 00:00:24.360 --> 00:00:27.945 podcast and YouTube blog from Germany, bringing you to 7 00:00:27.945 --> 00:00:31.705 all the May 2024 news wrap up this 8 00:00:31.705 --> 00:00:35.460 month in GSA startups. Of course, again, with Chris in New York. Hey. 9 00:00:35.460 --> 00:00:39.300 How you doing, man? Hey. Yeah. I'm doing fine. It's, the 10 00:00:39.300 --> 00:00:42.725 first day of, like, really warm weather, it feels. So we had, like, 11 00:00:43.605 --> 00:00:47.285 85 degrees, 30 degree 30 degrees Celsius. So getting ready 12 00:00:47.285 --> 00:00:50.885 for summer here. Uh-oh. We did here in 13 00:00:50.885 --> 00:00:54.050 Germany have a lot of problems with heavy rainfall, 14 00:00:54.269 --> 00:00:57.789 especially in Saarland where, where a lot of, 15 00:00:58.430 --> 00:01:02.025 where a lot of damage was done by, little 16 00:01:02.025 --> 00:01:05.865 creeks that became huge rivers because, due 17 00:01:05.865 --> 00:01:09.325 to a lot of rainfall in in a very, 18 00:01:09.460 --> 00:01:13.299 very short amount of time. That said, welcome to our 19 00:01:13.299 --> 00:01:16.899 May 2024 wrap up with vital news from 20 00:01:16.899 --> 00:01:20.515 the start up and tech entrepreneurship scene in Germany, 21 00:01:20.515 --> 00:01:24.195 Austria, and Switzerland. This time, we likely not 22 00:01:24.195 --> 00:01:27.840 make it in 30 minutes or less, but we'll nonetheless try. 23 00:01:27.840 --> 00:01:31.680 Our Startupradio is recorded with Chris back in New York City, and 24 00:01:31.680 --> 00:01:34.885 I'm in Frankfurt. Today is May 16th. 25 00:01:35.425 --> 00:01:38.785 Due to wood Monday and travel plans, we had to move our 26 00:01:38.785 --> 00:01:42.330 schedule a little bit around. But as always, all news 27 00:01:42.330 --> 00:01:46.030 relevant not yet included will be part of our next news 28 00:01:46.170 --> 00:01:49.744 wrap up. Our schedule. We 29 00:01:49.744 --> 00:01:53.125 will have another news episode coming up on June 27th. 30 00:01:53.825 --> 00:01:57.125 Then we will be back with a summer wrap up published 31 00:01:57.265 --> 00:02:00.800 on Labor Day, September 2nd. We already 32 00:02:00.800 --> 00:02:04.180 know, when we will record this in August. 33 00:02:04.640 --> 00:02:08.384 In between, we'll have a bit lighter summer program but we're 34 00:02:08.384 --> 00:02:12.065 not sure yet how it will look. We do have a lot 35 00:02:12.065 --> 00:02:15.580 of requests. So we may do more publications 36 00:02:16.040 --> 00:02:19.799 than every other week, like we have done in the 37 00:02:19.799 --> 00:02:23.135 past for July August. So there were no 38 00:02:23.375 --> 00:02:26.814 weekly publication, but every other week. And we started 39 00:02:26.814 --> 00:02:30.114 again with the StartupRadio on Labor Day. 40 00:02:30.254 --> 00:02:32.910 Chris, you always seem to be a highlights guy. 41 00:02:34.110 --> 00:02:37.870 Yeah. And this month around, it's actually is or 42 00:02:37.870 --> 00:02:39.810 fits like a highlight section because 43 00:02:42.175 --> 00:02:45.669 when we did the research, it turned out that the 44 00:02:45.669 --> 00:02:49.215 StartupRadio scene in Germany, Switzerland, and Austria is actually in a pretty 45 00:02:49.215 --> 00:02:52.940 good mood and state of mind, and they seem to be really roaring 46 00:02:52.940 --> 00:02:56.700 back. So we see more large investments. We also see 47 00:02:56.700 --> 00:03:00.365 more signs of life in very early stage investments. So 48 00:03:00.825 --> 00:03:04.105 give looking at the rest of the episode, I would say pour yourself your favorite 49 00:03:04.105 --> 00:03:07.849 drink, get a snack, because this will be a lot of 50 00:03:07.849 --> 00:03:11.370 positive news this time around and a bit longer than normal. And it can also 51 00:03:11.370 --> 00:03:14.810 be an adult beverage. Adult. Yeah. Yeah. Yeah. Of 52 00:03:14.810 --> 00:03:18.144 course. Day drinking for the win. So for this, 53 00:03:18.685 --> 00:03:22.144 news wrap up alone, we found new VC funds raised 54 00:03:22.659 --> 00:03:25.400 more than 7,500,000,000 US dollars. 55 00:03:26.420 --> 00:03:30.099 One of the top news we're gonna look into is, Germany really being at a 56 00:03:30.099 --> 00:03:33.165 crossroads with, pioneering air taxi 57 00:03:33.224 --> 00:03:36.864 Startupradio. One category that we look into here quite often, 58 00:03:37.644 --> 00:03:41.260 Lilium and Volocopter in that case. Domestic debate 59 00:03:41.260 --> 00:03:42.880 over those, companies 60 00:03:45.340 --> 00:03:49.065 are a lot about state support, and, Germany is 61 00:03:49.065 --> 00:03:52.505 questioning whether they should subsidize these companies. 62 00:03:52.505 --> 00:03:56.319 But France is stepping in, and they extend 63 00:03:56.319 --> 00:03:59.540 a welcoming hand with offers of subsidies and guarantees. 64 00:04:00.319 --> 00:04:03.140 Lilium is in advanced talks with the French government, 65 00:04:04.055 --> 00:04:07.834 and, we will have a bit of a look, there. Yes. 66 00:04:08.215 --> 00:04:10.474 Amazon's bought 7.8 67 00:04:11.710 --> 00:04:15.550 €1,000,000,000 investment in Brandenburg to develop a 68 00:04:15.550 --> 00:04:19.365 purely European cloud storage 69 00:04:19.365 --> 00:04:23.145 infrastructure, underscores its unwavering commitment 70 00:04:23.205 --> 00:04:26.825 to data sovereignty even amidst leadership 71 00:04:26.965 --> 00:04:30.319 changes at AWS. We may add that Brandenburg 72 00:04:30.699 --> 00:04:34.479 is the is the state surrounding Berlin. 73 00:04:35.180 --> 00:04:38.935 Meanwhile, Wefox, once a beacon of insurtech innovation, 74 00:04:39.315 --> 00:04:42.935 faces valuation setbacks amid growth challenges. 75 00:04:43.875 --> 00:04:47.290 At on a brighter note, the fight against Alzheimer's 76 00:04:47.590 --> 00:04:50.810 get a substantial boost at Takeda Partners, 77 00:04:51.670 --> 00:04:55.415 with Swiss firm AC Immune in a 78 00:04:55.415 --> 00:04:58.315 deal potentially exceeding 2,000,000,000 79 00:04:58.855 --> 00:05:02.375 US dollars despite significant q one 80 00:05:02.375 --> 00:05:06.200 losses and a dip in stock valuation, bio 81 00:05:06.200 --> 00:05:09.800 and tech remains resolute advancing its 82 00:05:09.800 --> 00:05:13.544 oncology pipeline and preparing for a renewed push in COVID 83 00:05:13.544 --> 00:05:17.305 vaccine demand later this year. Guys, 84 00:05:17.305 --> 00:05:20.680 let's talk startups. As always, 85 00:05:20.680 --> 00:05:24.440 Eos strongly recommended to tune into our Internet radio station, 86 00:05:24.440 --> 00:05:28.220 which will also soon get a new, website. 87 00:05:29.705 --> 00:05:32.285 More than a 100000 people are listening, 88 00:05:33.384 --> 00:05:37.065 a month. And you can get your our content to 89 00:05:37.065 --> 00:05:40.450 your inbox with our sub stack or, 90 00:05:40.850 --> 00:05:44.630 Telegram newsletter. Of course, you can find all our channels 91 00:05:44.770 --> 00:05:48.455 on Linktree, our enabler. This recording is supported 92 00:05:48.455 --> 00:05:51.595 by HTII and the Enterprise Europe Network, Hessen. 93 00:05:52.134 --> 00:05:55.770 This recording was made possible by HTI and the Enterprise 94 00:05:55.830 --> 00:05:59.530 Europe Network, Hessen. These organizations have made tremendous 95 00:05:59.830 --> 00:06:03.295 contributions to helping start up businesses succeed and 96 00:06:03.295 --> 00:06:07.055 thrive, providing a range of services from helping to find 97 00:06:07.055 --> 00:06:10.650 grants to ongoing partnerships. By taking 98 00:06:10.710 --> 00:06:14.470 advantage of these resources, start up companies can network 99 00:06:14.470 --> 00:06:17.910 and develop innovative strategies for success on the 100 00:06:17.910 --> 00:06:21.655 international stage. The dedicated support of HDIA 101 00:06:22.435 --> 00:06:26.134 and the EEN Essent is paramount in providing 102 00:06:26.207 --> 00:06:29.740 StartupRadio businesses with the tools for lasting success. 103 00:06:30.280 --> 00:06:34.120 Look for our dedicated sub podcast in partnership with them 104 00:06:34.120 --> 00:06:37.965 called Tech Startups Germany. Of course, you could find it on our 105 00:06:37.965 --> 00:06:41.725 Linktree. Chris, you wanna handle 106 00:06:41.725 --> 00:06:45.325 some of the top news? Yes. And there I mean, we started I 107 00:06:45.325 --> 00:06:48.630 started talking about it a bit already. We see, 108 00:06:49.070 --> 00:06:52.750 pretty lengthy and intense discussion about the topic of 109 00:06:52.750 --> 00:06:56.125 air taxis. So in 110 00:06:56.125 --> 00:06:59.104 Germany, especially in southern Germany, Bavarian, but in Wurttemberg, 111 00:06:59.565 --> 00:07:03.164 politicians really wonder how much they should subsidize, this 112 00:07:03.164 --> 00:07:06.540 industry, specifically companies like 113 00:07:06.540 --> 00:07:10.140 Lilium and Volocopter, while at the same time, 114 00:07:10.140 --> 00:07:13.825 France seems to be extending a bit of a warmer hand in terms of subsidies 115 00:07:13.825 --> 00:07:17.505 and guarantees. Especially Lilium seems to be in 116 00:07:17.505 --> 00:07:21.025 advanced talks with the French government for expansion plans and 117 00:07:21.025 --> 00:07:24.710 potential financial aid even though, 118 00:07:25.970 --> 00:07:29.570 the possible involvement at the Olympic Games in Paris where 119 00:07:29.570 --> 00:07:32.150 they were discussing about flight taxis 120 00:07:33.514 --> 00:07:35.294 was a bit trimmed down. 121 00:07:37.195 --> 00:07:40.990 We have a lot of additional resources 122 00:07:41.289 --> 00:07:45.130 about this in our show notes where, we 123 00:07:45.130 --> 00:07:48.590 will talk where you can read more about Volocopter at the Olympics, 124 00:07:49.715 --> 00:07:53.335 where you can read more about how Volocopter threatens to 125 00:07:54.194 --> 00:07:57.495 move the company from Germany to a foreign country, 126 00:07:59.330 --> 00:08:03.009 where you can see that China and the US are actually doing better than Germany 127 00:08:03.009 --> 00:08:06.550 right now. And, yeah. So 128 00:08:06.724 --> 00:08:10.485 the big question about all of this, I guess, is how big 129 00:08:10.485 --> 00:08:12.745 can this actually be? I think 130 00:08:14.620 --> 00:08:18.380 compared to 3, 4, 5 years ago, the 131 00:08:18.380 --> 00:08:21.820 mood in the market also kind of shifted for this. And the question 132 00:08:21.900 --> 00:08:25.525 because also we see that a lot of especially the autonomous 133 00:08:25.585 --> 00:08:29.425 driving topics are toned down. Like, Apple nixed their plan for 134 00:08:29.425 --> 00:08:33.070 a car. Daimler Daimler said that they are not gonna 135 00:08:33.070 --> 00:08:36.669 pursue anymore an autonomously driven truck for 136 00:08:36.669 --> 00:08:39.890 now. So yeah. And and a lot of the, 137 00:08:40.804 --> 00:08:44.324 innovation and Startupradio novelties in the 138 00:08:44.324 --> 00:08:48.140 transportation field seem to be a bit 139 00:08:48.140 --> 00:08:51.980 on the, like, waning side, I would say. So we will see 140 00:08:51.980 --> 00:08:55.665 how it goes with the air 141 00:08:55.665 --> 00:08:58.324 taxi and aviation 142 00:08:59.264 --> 00:09:02.779 companies. Moving on from that, 143 00:09:02.920 --> 00:09:06.620 Amazon, as you already hinted at, is going to invest more than €7,500,000,000 144 00:09:08.120 --> 00:09:11.855 in Brandenburg, specifically their 145 00:09:11.855 --> 00:09:15.555 cloud division, who which wants to invest €7,800,000,000, 146 00:09:17.214 --> 00:09:20.410 in order to establish a a purely European to 147 00:09:20.870 --> 00:09:23.850 establish purely European storage capacities. 148 00:09:25.485 --> 00:09:29.325 Even though their current chief, AWS, even though their 149 00:09:29.325 --> 00:09:33.105 current chief departed, AWS remains committed to building a sovereign, 150 00:09:34.350 --> 00:09:38.110 European cloud. Wefox valuation took a 151 00:09:38.110 --> 00:09:41.550 hit. The investor devalued the stake in, 152 00:09:41.870 --> 00:09:45.675 Wefox. Once, Wefox was hailed as a revolutionize 153 00:09:46.375 --> 00:09:49.514 as a revolutionary insurance, but now, 154 00:09:50.454 --> 00:09:53.820 they feel some of the woes amid growth 155 00:09:54.040 --> 00:09:57.340 challenges. I feel a lot of this today is, like, 156 00:09:57.560 --> 00:10:00.540 badly bad for a German. We, fucks, revolution. 157 00:10:01.415 --> 00:10:04.935 Anyway, then, the Swiss firm AC gets a 158 00:10:04.935 --> 00:10:08.154 100,000,000 and up to 2,000,000,000 US dollars to fight Alzheimer's 159 00:10:08.295 --> 00:10:11.990 disease, which is really big news in Alzheimer's research. It's 160 00:10:11.990 --> 00:10:15.829 a Japanese company, Takeda, that teams up with the Swiss firm, 161 00:10:15.829 --> 00:10:19.334 AC Immune, in a $1,000,000,000 deal to tackle the disease. 162 00:10:20.115 --> 00:10:23.795 The upfront payment is a $100,000,000, and the potential for the deal is to 163 00:10:23.795 --> 00:10:27.570 soar between $2,000,000,000. More about that in the show 164 00:10:27.570 --> 00:10:31.330 notes. And, now you also got more information about in 165 00:10:31.490 --> 00:10:35.095 about the health sector. You know what's really crazy about 166 00:10:35.095 --> 00:10:38.715 this? If you see the 2,000,000,000, actually 100,000,000 167 00:10:39.175 --> 00:10:42.750 US dollar looks like a small sum, but 168 00:10:42.750 --> 00:10:46.510 it isn't. Far from it. Talking about bio 169 00:10:46.510 --> 00:10:50.210 and tech. Bio and tech advances cancer drug development, 170 00:10:51.005 --> 00:10:54.545 amid 380,000,000 loss. Facing 171 00:10:54.685 --> 00:10:58.500 significant research costs and a decline in revenues from the COVID 172 00:10:58.500 --> 00:11:01.720 area, BioNTech founders began this year with loss. 173 00:11:02.100 --> 00:11:05.460 Despite this, BioNTech remains committed to its annual 174 00:11:05.460 --> 00:11:09.185 objectives or bite with the stock under pressure. The 175 00:11:09.185 --> 00:11:12.625 shattered COVID 19 business and increased research 176 00:11:12.625 --> 00:11:16.260 costs led the Mindspace Biotech Company to incur a 177 00:11:16.260 --> 00:11:19.480 loss in the Q1, which was 315,000,000 178 00:11:20.660 --> 00:11:24.395 compared with a profit of over 400,000,000 179 00:11:24.695 --> 00:11:28.375 in a year ago. Tech stock is down. But 180 00:11:28.375 --> 00:11:32.190 nonetheless, they are looking to generate around 181 00:11:32.190 --> 00:11:35.950 90% of its annual revenue in the final months of 182 00:11:35.950 --> 00:11:39.315 2024 due to the seasonal demand for COVID 183 00:11:39.375 --> 00:11:42.895 vaccines. Their research costs surge by 184 00:11:42.895 --> 00:11:46.650 50%, but, you don't need to 185 00:11:46.650 --> 00:11:49.550 fear, when they have more than 300,000,000 186 00:11:50.090 --> 00:11:53.745 loss, they're sitting on a 16 1,000,000,000. Yes. 187 00:11:53.745 --> 00:11:57.205 Billion with a b financial caution. So everything 188 00:11:57.425 --> 00:12:01.240 should be great. By the way, our new 189 00:12:01.240 --> 00:12:04.920 website is live. It took me quite a lot of time and work, but 190 00:12:04.920 --> 00:12:08.540 nonetheless, it is there. Stop by and leave us feedback. 191 00:12:09.305 --> 00:12:12.904 The little disclaimer, not all blog posts are moved there yet, 192 00:12:12.904 --> 00:12:16.665 but we will do this in the future. Plus not all the plays 193 00:12:16.665 --> 00:12:20.270 for the sub podcasts works, work that 194 00:12:20.330 --> 00:12:23.850 is due to, some restrictions of 195 00:12:23.850 --> 00:12:26.029 the, toolbox we're using 196 00:12:27.595 --> 00:12:31.275 to, put together the website. Nonetheless, we'll find a solution 197 00:12:31.275 --> 00:12:34.990 for that as well. If you're looking to partner with us, you see 198 00:12:35.550 --> 00:12:37.810 you will find our storefront at passionfruit.meforward/startupradio, 199 00:12:39.792 --> 00:12:43.465 Joe word. And now I'm handing over to the 200 00:12:43.465 --> 00:12:47.225 ecosystem to Chris again. Yes. And in the 201 00:12:47.225 --> 00:12:50.800 ecosystem, it's basically where we zoom in 202 00:12:51.019 --> 00:12:53.680 in our show, regarding 203 00:12:54.779 --> 00:12:58.455 information and news that affect the wider 204 00:12:58.610 --> 00:13:01.334 Startupradio landscape. So let's start on a global level, 205 00:13:02.274 --> 00:13:05.975 where we see a likely good sign for all VC investors globally. Japan's 206 00:13:06.470 --> 00:13:10.170 Japan's SoftBank Group reports a quarterly profit turnaround, 207 00:13:10.790 --> 00:13:14.575 signaling resilience in the face of challenges. Despite 208 00:13:14.575 --> 00:13:18.349 investment loss, the tech investor remains pivotal in the German Startupradio 209 00:13:18.415 --> 00:13:21.154 as well. More about that in the show notes. 210 00:13:22.460 --> 00:13:26.220 Zooming in on Europe where we see that government funding emerged as a 211 00:13:26.220 --> 00:13:30.060 major player in European VC funding in 2023, doubling 212 00:13:30.060 --> 00:13:33.645 its share over the previous year. Amid geopolitical tensions, 213 00:13:33.645 --> 00:13:37.165 Europe strengthens its tech sovereignty with sizable investments in 214 00:13:37.165 --> 00:13:40.760 AI, quantum and biotech, and in climate tech. 215 00:13:41.240 --> 00:13:44.700 And we've got some insights from PitchBook's q 1 2024 216 00:13:45.000 --> 00:13:48.760 European venture report that revealed a mixed q one with robust 217 00:13:48.760 --> 00:13:52.595 deal activity and some fundraising resilience. Early stage 218 00:13:52.595 --> 00:13:56.115 dominance persist, but exits showed some 219 00:13:56.115 --> 00:13:59.930 weakness. In the German StartupRadio ecosystem, we 220 00:13:59.930 --> 00:14:03.370 see that in April, despite the prevailing investment turn down, we 221 00:14:03.370 --> 00:14:06.990 witnessed 12 double digit or triple digit $1,000,000 investments 222 00:14:07.555 --> 00:14:09.975 in the country, totaling around €440,000,000. 223 00:14:11.475 --> 00:14:14.214 Among them are ventures like Flink, Palua, 224 00:14:15.170 --> 00:14:18.790 Mark Pilot, Smart Reporting, Finmit, and Proxima 225 00:14:18.850 --> 00:14:22.690 Fusion. Despite several ongoing crises, numerous StartupRadio, scale 226 00:14:22.690 --> 00:14:26.204 ups, and grown ups managed to secure substantial funding 227 00:14:26.985 --> 00:14:30.665 from well known entities to under the radar gems. We got a 228 00:14:30.665 --> 00:14:34.130 couple of the recent top funding runs rounds in the show 229 00:14:34.130 --> 00:14:37.970 notes. Then German startups also expect more from the EU, 230 00:14:37.970 --> 00:14:41.490 like unified funding, better access to venture capital, and a true 231 00:14:41.490 --> 00:14:45.025 single market. We see that European Digital 232 00:14:45.025 --> 00:14:48.465 Associations unite to call for a reboot of the EU StartupRadio 233 00:14:48.465 --> 00:14:51.760 policy. Background for that also in the show notes. 234 00:14:52.240 --> 00:14:55.120 And we got good news from Germany. We often look at it, the e for 235 00:14:55.120 --> 00:14:58.640 business climate index, basically a 236 00:14:58.640 --> 00:15:02.485 survey, a regular survey among business leaders. 237 00:15:02.485 --> 00:15:05.705 It rose to 89.4 points in April, 238 00:15:06.005 --> 00:15:09.580 marking the 3rd consecutive increase. Sentiment is up as 239 00:15:09.580 --> 00:15:13.120 companies express satisfaction with the current business and brighter expectations. 240 00:15:13.900 --> 00:15:17.445 German BC sentiment also shows signs of recovery 241 00:15:17.585 --> 00:15:21.425 in, q 1 2024 bouncing back from q from a q 242 00:15:21.425 --> 00:15:24.910 4 slump of the past year. Business 243 00:15:24.970 --> 00:15:27.950 expectations and IPO climate warming, 244 00:15:28.970 --> 00:15:32.654 but entry IPO business expectation in the IPO 245 00:15:32.714 --> 00:15:36.014 climate are warming, but entry valuation satisfaction 246 00:15:36.315 --> 00:15:39.810 nosedives. Europe's quantum 247 00:15:39.810 --> 00:15:43.350 startups are thriving amidst global challenges in the quantum computing 248 00:15:43.410 --> 00:15:46.205 race. They attracted €336,000,000 249 00:15:47.464 --> 00:15:50.524 in investments in 2023, which is, 250 00:15:51.145 --> 00:15:54.940 an increase of 47%. And we got news from 251 00:15:54.940 --> 00:15:57.280 Bundest minister Robert Harbeck, economy, 252 00:15:58.860 --> 00:16:02.235 secretary for for the, for business 253 00:16:03.095 --> 00:16:06.875 and, for the economy. The StartupRadio advisory 254 00:16:06.935 --> 00:16:10.775 board gets a makeover with a smaller and more flexible format called the 255 00:16:10.775 --> 00:16:14.300 startup circle. More about that approach 256 00:16:14.440 --> 00:16:17.000 is in the show notes. And, 257 00:16:18.279 --> 00:16:21.855 we got a report that looks at the German workforce 258 00:16:22.395 --> 00:16:26.235 that says more than half of all overtime hours in Germany in 259 00:16:26.235 --> 00:16:30.070 the past year were unpaid. All of that, obviously, 260 00:16:30.070 --> 00:16:32.810 a sig a concerning trend in work life balance. 261 00:16:35.885 --> 00:16:39.345 Employees altogether locked a staggering 1,300,000,000 262 00:16:40.365 --> 00:16:43.399 extra hours out of which 775,000,000 263 00:16:44.339 --> 00:16:48.180 went without pay apparently. And, we 264 00:16:48.180 --> 00:16:51.735 have a study about where about StartupRadio founders 265 00:16:51.875 --> 00:16:55.395 and the, the people that get to, start 266 00:16:55.395 --> 00:16:59.060 startups in Germany from the Berthoud Mann Foundation, and they 267 00:16:59.060 --> 00:17:02.120 found out that 6 in 10 founders come from, 268 00:17:03.140 --> 00:17:06.580 academic households. So, are not first 269 00:17:06.580 --> 00:17:09.805 generation college kids. And 270 00:17:10.345 --> 00:17:13.945 that, obviously, this level of education is also shaping the 271 00:17:13.945 --> 00:17:17.244 entrepreneurial journey, and, parental 272 00:17:17.829 --> 00:17:21.429 background influences not only their networks, but 273 00:17:21.429 --> 00:17:23.770 also their mindsets, says the study. 274 00:17:25.444 --> 00:17:28.725 We have the full study in the show notes and also some coverage from Zeatrutch 275 00:17:28.725 --> 00:17:32.485 exciting about that. After this look at the 276 00:17:32.485 --> 00:17:36.160 whole ecosystem, we are now gonna look at some of 277 00:17:36.160 --> 00:17:40.000 the biggest German Startupradio hubs. And since we're starting 278 00:17:40.000 --> 00:17:43.605 with Frankfurt, I'll hand it over back to you. 279 00:17:44.625 --> 00:17:48.465 Thank you very much. Of course, we tend to highlight here some hidden 280 00:17:48.465 --> 00:17:52.170 gems and cities of general start up interest. We start with my Joe 281 00:17:52.309 --> 00:17:56.070 turf Frankfurt, Rhein Main. Taylor acquires Credit Shelf in a 282 00:17:56.070 --> 00:17:59.585 quest to dominate your to dominate European 283 00:18:00.020 --> 00:18:03.645 Menninger. We do have an interview with Credit Shelf where 284 00:18:03.645 --> 00:18:07.105 they announced a 100,000,000 investment led by Goldman Sachs. Unfortunately, 285 00:18:07.799 --> 00:18:11.640 that never came true because they, they had problems with an existing 286 00:18:11.640 --> 00:18:15.179 investor chipping in the first loss piece. And that's why 287 00:18:16.075 --> 00:18:19.355 they went almost belly up and got rescued by 288 00:18:20.075 --> 00:18:23.835 be acquired by Taylor. Evuka, with the German headquarter 289 00:18:23.835 --> 00:18:27.470 in Frankfurt, secures £270,000,000 in debt 290 00:18:27.470 --> 00:18:31.310 funding to bolster SME Menninger supported by Citibank and 291 00:18:31.310 --> 00:18:35.044 Insight Investment. The lender responds to 292 00:18:35.105 --> 00:18:38.945 rising demand from small businesses. Of course, read more in our 293 00:18:38.945 --> 00:18:42.005 show notes. Beautiful city of Heidelberg. 294 00:18:42.730 --> 00:18:46.570 Discover over 20 startups from Heidelberg that are making waves from 295 00:18:46.570 --> 00:18:49.710 AI powerhouse, Alabalfa, to rising stars like 296 00:18:50.445 --> 00:18:54.044 Pareto's, Fresh Taste, and in Stavord, the 297 00:18:54.044 --> 00:18:57.825 city's buzzing with innovation. Check out the full list in the show notes. 298 00:18:58.690 --> 00:19:01.990 Aachen's SILEB, a sustainable 299 00:19:02.450 --> 00:19:06.049 battery recycling firm, just secured 55,000,000 in 300 00:19:06.049 --> 00:19:09.545 series a funding led by World Fund and Porsche 301 00:19:09.545 --> 00:19:13.305 Ventures with support from Bosch Ventures and 302 00:19:13.305 --> 00:19:16.730 more. Essen, German vertical 303 00:19:16.870 --> 00:19:20.090 farming StartupRadio Greens, 304 00:19:20.710 --> 00:19:24.215 small v, big g, secures a 305 00:19:24.215 --> 00:19:27.735 coveted spot among the top 500 food tech companies 306 00:19:27.735 --> 00:19:31.529 worldwide for 2023. Their innovative use of AI 307 00:19:31.529 --> 00:19:35.070 technology in food production earns them this recognition. 308 00:19:35.769 --> 00:19:38.990 And I thought vertical farming was dead. I'm surprised. 309 00:19:39.485 --> 00:19:43.245 And Chris is almost in his home turf in a town 310 00:19:43.245 --> 00:19:46.925 I've never heard from again. Chris, can can you help me out where this 311 00:19:46.925 --> 00:19:50.580 city is and why it's so beautiful? I was fighting to take this over. So 312 00:19:50.580 --> 00:19:54.100 we are looking, I I think, for the first time ever, obviously, at Neustadt am 313 00:19:54.100 --> 00:19:57.620 Coche. Neustadt am Coche is a small town close to 314 00:19:57.620 --> 00:20:01.285 Heilbron, close to Stuttgart, and I actually have friends 315 00:20:01.285 --> 00:20:04.885 there who run one of the most charming coworking and event 316 00:20:04.885 --> 00:20:08.380 spaces. So if you ever need an event space in 317 00:20:08.380 --> 00:20:11.919 Neustadt am Kocha, be sure to check out Atelier Fox. 318 00:20:12.220 --> 00:20:15.955 But what we are, also looking at today 319 00:20:15.955 --> 00:20:19.495 is that there is another company there that's writing headlines, 320 00:20:20.434 --> 00:20:24.279 and, to be more precise, they are breaking ground in space tech. 321 00:20:24.279 --> 00:20:27.340 It's called High Impulse, high h 322 00:20:27.640 --> 00:20:31.205 y impulse. And they launched a rocket powered by 323 00:20:31.205 --> 00:20:33.705 Candle wax hybrid propulsion. 324 00:20:34.565 --> 00:20:38.330 Propulsion. Oh god. I could never be an engineer because I 325 00:20:38.330 --> 00:20:42.030 can't say the words. Marking a milestone for private space ventures. 326 00:20:43.210 --> 00:20:46.765 100 Splat German Business and Economics Newspaper wrote a lot about 327 00:20:46.765 --> 00:20:50.365 this. That's it about Germany, though. Let's look at 328 00:20:50.365 --> 00:20:53.910 Austria, my specialty. Fiskars Austria filed for 329 00:20:53.910 --> 00:20:57.430 insolvency, marking the largest insolvency case in 330 00:20:57.430 --> 00:21:00.705 Styria in Der Steiermark, which with €1,340,000,000, 331 00:21:03.005 --> 00:21:06.445 they have a restructuring process underway following the opening of 332 00:21:06.445 --> 00:21:09.105 proceedings at the regional court in Graz. 333 00:21:11.039 --> 00:21:14.720 Then CEO, Obling, completed a 100% founder 334 00:21:14.720 --> 00:21:18.260 buyout of the Vienna based Introtech Finabro Finabro? 335 00:21:18.720 --> 00:21:22.545 Fin a bro? Maybe it's for people who go to the 336 00:21:22.545 --> 00:21:25.985 gym. It's Finabro. After recent setbacks, including 337 00:21:25.985 --> 00:21:29.550 insolvency rumors, Finabro resurfaced with a fresh start 338 00:21:29.550 --> 00:21:31.970 in Germany. And, 339 00:21:33.850 --> 00:21:37.684 Joe in onto Switzerland, we have a news alert. The Swiss 340 00:21:37.824 --> 00:21:40.745 StartupRadio scene continues to thrive with innovation and growth, 341 00:21:41.845 --> 00:21:44.970 despite the size says tech EU. Despite its size, 342 00:21:45.210 --> 00:21:48.970 Switzerland ranks 6th globally in total funds raised by 343 00:21:48.970 --> 00:21:52.429 tech companies showcasing, what is a pretty remarkable 344 00:21:52.490 --> 00:21:56.065 potential. In 2023 alone, the Swiss Tech Venture secured 345 00:21:56.365 --> 00:21:59.025 €2,800,000,000, pretty whooping, 346 00:22:00.285 --> 00:22:03.300 highlighting the nation's prowess in the entrepreneurial landscape. 347 00:22:04.000 --> 00:22:07.300 Switzerland with a GDP ranking of 21 worldwide 348 00:22:07.360 --> 00:22:11.120 manages to punch above its weight in the StartupRadio arena in 349 00:22:11.120 --> 00:22:14.865 that case. The, Tech 350 00:22:14.865 --> 00:22:18.705 EU article also looks into the details why that is 351 00:22:18.705 --> 00:22:22.450 the case. One, reason for it is that 352 00:22:22.450 --> 00:22:25.890 the government and private sector collaborations have been instrumental in 353 00:22:25.890 --> 00:22:29.705 nurturing the ecosystem there. Then there are tax incentives to funding 354 00:22:29.705 --> 00:22:33.465 up to fund opportunities, accelerator programs, and overall, 355 00:22:33.465 --> 00:22:37.110 just like a very, supportive environment for start ups. 356 00:22:38.790 --> 00:22:42.250 We will have some more, fundraisers 357 00:22:42.950 --> 00:22:46.230 for Austrian and Swiss companies in the end, but for now, we will move on 358 00:22:46.230 --> 00:22:48.794 to the general news tech news and company news section. 359 00:22:50.375 --> 00:22:53.895 1st off, there are new funds in case any of you guys is 360 00:22:53.895 --> 00:22:57.470 looking for money. This is also only a 361 00:22:57.470 --> 00:23:01.090 selection. Let me rattle some of them. 362 00:23:01.950 --> 00:23:05.235 The general catalyst reportedly raises 363 00:23:05.535 --> 00:23:09.375 nearly €6,000,000,000 for tech Startupradio, signaling a robust 364 00:23:09.375 --> 00:23:12.870 investor confidence. Funds are going to be invested across 365 00:23:12.870 --> 00:23:16.550 various sectors including Fintech and health care, right, the Financial 366 00:23:16.550 --> 00:23:20.135 Times. XL, ACCEL, announced a 367 00:23:20.135 --> 00:23:23.975 new 602,000,000 euro fund to support 368 00:23:23.975 --> 00:23:27.710 early stage funders in Europe and Israel. They 369 00:23:27.710 --> 00:23:31.470 already have a 24 year old 24 year presence in 370 00:23:31.470 --> 00:23:34.450 Europe and continue to back, tech companies. 371 00:23:35.385 --> 00:23:38.765 Their news from Innovacapital, their latest fund, Innovac7, 372 00:23:39.145 --> 00:23:42.684 has closed 407,000,000 exceeding 373 00:23:42.745 --> 00:23:46.300 its target and hard cap. They are focused on 374 00:23:46.300 --> 00:23:50.000 business and financial services, industrials, and consumer and lifestyle 375 00:23:50.060 --> 00:23:53.355 sectors and are backed by institutional and commercial support. 376 00:23:53.755 --> 00:23:57.135 Norskine VC just closed its 2nd fund at €320,000,000, 377 00:23:59.434 --> 00:24:02.975 doubling down on impact entrepreneurs tackling the world's greatest problems 378 00:24:03.640 --> 00:24:07.240 and backed by some of Europe's top investors like folks on AP 1 and 379 00:24:07.240 --> 00:24:10.895 EIF. And not really a new fund, but, this is 380 00:24:10.895 --> 00:24:14.015 just like the best place for our start up news to talk about it. The 381 00:24:14.015 --> 00:24:17.855 global founders' capital linked with Rocket Internet opts for a strategic 382 00:24:17.855 --> 00:24:21.400 shift now. Instead of a new fund, they'll invest solely from Rocket. 383 00:24:21.700 --> 00:24:25.460 Internet's coffers, with €300,000,000 to deploy 384 00:24:25.460 --> 00:24:29.175 their poised for focused early stage ventures 385 00:24:29.395 --> 00:24:33.075 that they say. Moving on, handing it back to 386 00:24:33.075 --> 00:24:36.800 you. Going into the Fintech news, 2 387 00:24:36.800 --> 00:24:40.320 times Austria this time, 2 times a Bitpanda. Number 1 388 00:24:40.320 --> 00:24:43.460 is, they expand into MENA, 389 00:24:44.225 --> 00:24:48.065 Middle East and North Africa with a new office in Dubai focusing 390 00:24:48.065 --> 00:24:51.840 on b to b solutions. And Bitpanda news 391 00:24:51.840 --> 00:24:55.680 number 2 on a as of April 25th, Bitpanda has become 392 00:24:55.680 --> 00:24:59.460 the broker with largest crypto offering in Europe boasting 411 393 00:25:00.695 --> 00:25:04.475 currencies and over 4,500,000 users across nearly 394 00:25:04.534 --> 00:25:07.515 30 countries. French Techstra 395 00:25:08.215 --> 00:25:11.600 giant, United, odds new loan 396 00:25:11.600 --> 00:25:15.299 operations in Germany shifting focus more to profit 397 00:25:15.679 --> 00:25:18.740 profitable markets despite a 4 year presence 398 00:25:19.375 --> 00:25:22.515 citing lower profitability potential and intense 399 00:25:22.895 --> 00:25:26.735 competition. Chris, you wanna hand over, you wanna take over 400 00:25:26.735 --> 00:25:30.000 general news again? Yeah. Let's look at a couple of more companies. 401 00:25:30.620 --> 00:25:34.299 Starting with Munich's Hollydo, just 402 00:25:34.299 --> 00:25:38.035 like holiday, but with a u instead of a y in the 403 00:25:38.035 --> 00:25:41.555 end. They made a major move acquiring Madrid's mad 404 00:25:41.635 --> 00:25:45.450 Madrid's Club Rural to, enhance 405 00:25:45.450 --> 00:25:49.289 their rural vacation rentals in Spain and Portugal. They now claim to have 406 00:25:49.289 --> 00:25:53.095 28,000 homes in their portfolio. So basically, 407 00:25:53.475 --> 00:25:56.995 chain changing probably or probably changing a lot of travel experiences 408 00:25:56.995 --> 00:26:00.755 there. We see big changes at Zalando as their cofounder 409 00:26:00.755 --> 00:26:04.180 David Schneider steps down as Joe CEO to focus on strategic 410 00:26:04.180 --> 00:26:08.020 partnerships and brand relationships. David Schroder, so 411 00:26:08.020 --> 00:26:11.825 it's like a change of the Davids there. David steps up as a 412 00:26:11.825 --> 00:26:12.804 new co CEO. 413 00:26:15.345 --> 00:26:19.190 And, yeah, that's what what 414 00:26:19.190 --> 00:26:22.790 we have about Zalando. Formerly known as Pozhalot and 415 00:26:22.790 --> 00:26:25.850 make Essence Delivery serve as rebrands as GreenClub, 416 00:26:27.505 --> 00:26:31.025 looking into fresh, healthy, and sustainable offerings. They have a 417 00:26:31.025 --> 00:26:34.465 €12,000,000 in revenue projected for 418 00:26:34.465 --> 00:26:37.044 2024 and expansion plans across Germany. 419 00:26:38.529 --> 00:26:42.130 Good luck for that. The food saving StartupRadio from 420 00:26:42.130 --> 00:26:45.269 Berlin, or surplus 421 00:26:46.745 --> 00:26:50.345 is back in action. Founder, Rafael Fehmer, secured brand rights domain and 422 00:26:50.345 --> 00:26:54.125 online shop and social media accounts with support from investors 423 00:26:54.185 --> 00:26:57.909 and wants to fight food waste. Despite some 424 00:26:57.909 --> 00:27:01.610 initial setbacks, the Eastern German robotics prodigy, Wandelbots, 425 00:27:02.710 --> 00:27:06.375 is looking for a comeback. Cofounder Christian Pichnik unveiled 426 00:27:06.674 --> 00:27:10.355 unveiled a radical business model pivot and a strategic AI 427 00:27:10.355 --> 00:27:14.054 partnership with OpenAI. High stakes move, 428 00:27:14.260 --> 00:27:18.020 More information about that in the show notes. We have 429 00:27:18.020 --> 00:27:21.560 some more news about top fertility Startupradio catching investors' 430 00:27:21.620 --> 00:27:25.164 eyes. VCs from Zofinova, Antler, and Ananda 431 00:27:25.164 --> 00:27:28.924 Impact Ventures revealed their pick at, Sift. 432 00:27:28.924 --> 00:27:32.304 EU. 1 in 6 1 in 6 people affected by 433 00:27:33.710 --> 00:27:37.070 globally. So they are hoping that their 434 00:27:37.070 --> 00:27:40.130 solutions will become crucial in that medical field. 435 00:27:40.775 --> 00:27:44.295 Zuma Equity acquires a majority stake in the Munich based 436 00:27:44.295 --> 00:27:47.915 FastLTA, a leader in secure data storage solution for businesses. 437 00:27:48.780 --> 00:27:52.320 Fast LTA has €25,000,000 revenue in 2023 438 00:27:52.620 --> 00:27:55.040 and wants to grow and expand internationally. 439 00:27:56.745 --> 00:28:00.445 Then, Germany has revoked Mastodon's 440 00:28:00.745 --> 00:28:04.284 non profit status despite an an an unchanged 441 00:28:04.424 --> 00:28:07.950 service. The founder says, though, he remains undeterred 442 00:28:08.090 --> 00:28:11.610 and is confirming the 443 00:28:11.610 --> 00:28:14.565 commitment to EU operations. Then, 444 00:28:15.664 --> 00:28:19.345 the founders of Jimdo, after 17 years, 445 00:28:19.345 --> 00:28:23.010 regained a 100% ownership of their StartupRadio and 446 00:28:23.010 --> 00:28:26.769 cofounder steered the company through tough times, now profitable, and 447 00:28:26.769 --> 00:28:30.545 are focused on product. Excellent. That what they say that's what they say. 448 00:28:30.785 --> 00:28:34.485 We have freed you off in our interview from September 449 00:28:34.545 --> 00:28:38.385 2023. You can find that in our medium channel. Link to 450 00:28:38.385 --> 00:28:42.009 that is in the show notes. And the English investor, Star Capital, takes 451 00:28:42.009 --> 00:28:45.070 over Nextbike, a bike sharing provider from Tia, 452 00:28:46.330 --> 00:28:50.144 which for them signals a strategic shift emphasizing TIER's focus on 453 00:28:50.144 --> 00:28:53.684 direct to customer services. But we also have 454 00:28:53.745 --> 00:28:57.120 some more, like, brutal 455 00:28:57.500 --> 00:29:01.260 changes, which we collect under 456 00:29:01.260 --> 00:29:05.045 the euphemism of creative destruction. Yes. We 457 00:29:05.045 --> 00:29:08.885 do. Creative destruction. But, Chris, I get the feeling the fundraising section 458 00:29:08.885 --> 00:29:11.625 gets bigger and bigger, and the creative destruction, 459 00:29:12.260 --> 00:29:15.880 section gets smaller and smaller, just at least the feeling. 460 00:29:16.179 --> 00:29:19.780 Sad news for the v arvo, Munich based holo ride fights for 461 00:29:19.780 --> 00:29:23.435 insolvency. StartupRadio Eeloop, known for Tesla 462 00:29:23.435 --> 00:29:26.875 car sharing and vehicle tokenization, faces a setback as it 463 00:29:26.875 --> 00:29:30.420 halts car sharing operations due to high costs and financing burdens. 464 00:29:31.280 --> 00:29:35.120 The closure is part of a restructuring process. Chris, you want to take 465 00:29:35.120 --> 00:29:38.605 over the high note and the fundraisings? There was not a lot of lot of 466 00:29:38.605 --> 00:29:41.825 destruction, actually. So, yeah, fundraisings. 467 00:29:43.085 --> 00:29:46.850 Just another small selection. I'm gonna really be fast with this. 468 00:29:47.090 --> 00:29:50.610 The news here and their total value show how resilient the StartupRadio in 469 00:29:50.610 --> 00:29:53.865 GSA is. We've only included a 470 00:29:54.345 --> 00:29:57.885 selected number of fundraisings about €5,000,000 or US dollars. 471 00:29:59.385 --> 00:30:02.365 Let's start. Berlin based Startupradio, secures 472 00:30:03.240 --> 00:30:06.780 €62,000,000 in funding led by Ultimeta Capital. 473 00:30:08.040 --> 00:30:11.660 Some of the investors include football legend, Bastian Schweinsteiger, 474 00:30:12.685 --> 00:30:16.285 and Palua aims to revolutionize call centers with an AI 475 00:30:16.285 --> 00:30:20.110 powered voice intelligence. Munich based biotech startup in 476 00:30:20.110 --> 00:30:23.230 Sempra got €19,000,000 for an innovative 477 00:30:24.030 --> 00:30:27.715 for their biodegradable materials led by EQT Ventures. The 478 00:30:27.715 --> 00:30:30.934 series a round also seized investments from Bion Capital, 479 00:30:31.635 --> 00:30:35.015 the investment arm of Henkel, and Valley investor Allantecapitor. 480 00:30:36.620 --> 00:30:40.320 In industrial biotechnology, in Sempra, secure 481 00:30:40.700 --> 00:30:44.335 oh, sorry. That's, that's the same. Trava, a 482 00:30:44.335 --> 00:30:48.174 leading provider of AI driven energy solutions, just secured 483 00:30:48.174 --> 00:30:51.875 €10,000,000 in seed funding led by Baldaton Capital. 484 00:30:52.720 --> 00:30:55.520 They plan to expand their eye tech and solutions, 485 00:30:57.360 --> 00:31:01.144 to drive renewable energy forward. And I promise we will 486 00:31:01.144 --> 00:31:04.684 have a look at some more from Switzerland where 487 00:31:04.985 --> 00:31:08.825 MIMO Therapeutics raises 20,000,000 Swiss 488 00:31:08.825 --> 00:31:12.490 francs in a series c extension, totaling now 489 00:31:12.490 --> 00:31:16.090 45,000,000 Swiss francs. The funding will accelerate clinical 490 00:31:16.090 --> 00:31:19.815 advancement of anti BKV, a 491 00:31:19.815 --> 00:31:23.655 promising treatment for BK virus infection in 492 00:31:23.655 --> 00:31:27.115 kidney transplants patients. GlaxoSmith 493 00:31:27.460 --> 00:31:31.220 Klein joins Bioversus in a series c extension run 494 00:31:31.220 --> 00:31:34.740 furthering their collaboration to advance IP 495 00:31:34.740 --> 00:31:37.895 Bacteria for, tuberculosis treatment. 496 00:31:38.755 --> 00:31:42.375 With a 12,300,000 investment, the total proceeds 497 00:31:42.515 --> 00:31:45.640 now reach around 45,000,000 498 00:31:46.260 --> 00:31:50.100 Swiss francs. Anapaya enters a growth phase 499 00:31:50.100 --> 00:31:53.905 with 10,000,000 Swiss francs in investment to bolster their business 500 00:31:53.965 --> 00:31:57.725 critical services using, Xi'an Internet arch 501 00:31:57.804 --> 00:32:01.460 architecture. Funding they receive comes from 502 00:32:01.460 --> 00:32:05.220 Cape Capital, Najee Mustafa, 6, 503 00:32:05.220 --> 00:32:08.875 and Misten Labs. And Appiah wants to use the money 504 00:32:08.875 --> 00:32:12.495 for global expansion as well. Test Maid Health 505 00:32:12.554 --> 00:32:15.215 announced $6,000,000 in seed funding, 506 00:32:16.360 --> 00:32:19.820 led by led by RH Capital 507 00:32:20.120 --> 00:32:23.565 with support from the helm, Zurcher Kantonalbank, M. 508 00:32:23.565 --> 00:32:27.085 Boy Street Ventures, Liechsteiner Foundation, and 509 00:32:27.085 --> 00:32:28.902 Dart Labs dot Joe. 510 00:32:30.509 --> 00:32:34.110 Their goal at Testmate Health is to 511 00:32:34.110 --> 00:32:37.009 improve at home testings testing for, 512 00:32:37.950 --> 00:32:41.645 STIs. And in Austria, we see 513 00:32:41.645 --> 00:32:45.345 that Vienna's Inspire AI just secured 514 00:32:45.565 --> 00:32:49.169 €25,500,000 in series b led by 515 00:32:49.169 --> 00:32:52.929 Zook Capital. They also are looking at 516 00:32:52.929 --> 00:32:56.529 a global expansion. More about their journey 517 00:32:56.529 --> 00:33:00.184 is also in our show notes. We have some 518 00:33:00.184 --> 00:33:03.485 more news to stay ahead of the curve. You can 519 00:33:04.025 --> 00:33:07.669 read all about that in the show notes. We are always looking for feedback. 520 00:33:07.669 --> 00:33:11.210 We are happy if you follow us everywhere. If you leave us a review, 521 00:33:11.669 --> 00:33:15.129 hit that subscribe button. That's always good for our numbers. 522 00:33:18.235 --> 00:33:21.915 I'm gonna say we will be back on June 27th as promised by Joe as 523 00:33:21.915 --> 00:33:25.375 well with the news next news episodes and the next regular episode. 524 00:33:25.740 --> 00:33:27.600 Will go live next week. 525 00:33:29.500 --> 00:33:32.570 Until then, I would say have a happy 526 00:33:33.024 --> 00:33:36.784 early weeks of summer. I think getting out 527 00:33:36.784 --> 00:33:40.465 there is really a good mood enhancer. Don't work too 528 00:33:40.465 --> 00:33:44.139 hard on your startups. And if you do, just look for how to get how 529 00:33:44.139 --> 00:33:47.820 to make the money. It's my advice. And, 530 00:33:47.820 --> 00:33:51.500 Chris, you know what? It wasn't too bad. We were afraid that we 531 00:33:51.500 --> 00:33:54.785 would talk around 50 minutes. We it will be 532 00:33:55.005 --> 00:33:58.845 just shy of 35 minutes, which isn't too bad. 533 00:33:58.845 --> 00:34:02.400 Chris, it was as always a pleasure talking to you. 534 00:34:02.620 --> 00:34:06.220 And, I didn't hear sirens, so you owe me a 535 00:34:06.220 --> 00:34:09.875 bagel for today. I that's good. Yeah. I hit a lot of 536 00:34:10.034 --> 00:34:13.714 I muted myself a lot because outside there's construction and I have 537 00:34:13.795 --> 00:34:17.155 the AC is on. So, I kind of 538 00:34:17.155 --> 00:34:20.660 cheated today. As always, guys, give us 539 00:34:20.660 --> 00:34:24.040 feedback in the blog post. There is a form for the feedback 540 00:34:24.420 --> 00:34:28.054 and, of course, a link to the host on LinkedIn and on Twitter for 541 00:34:28.054 --> 00:34:31.895 Chris and for me. Guys, that's a wrap. Thank you very much. It 542 00:34:31.895 --> 00:34:34.315 was a pleasure having you here. Ciao for now. 543 00:34:39.230 --> 00:34:42.610 That's all, folks. Find more news, streams, 544 00:34:42.989 --> 00:34:46.315 events, at interviews at www.startuprad. 545 00:34:47.858 --> 00:34:50.955 Joe. Remember, sharing is caring.