Latest / Startup & Tech News from Germany, Austria, and Switzerland by Startuprad.io™ / German Startup News – October 2024: Lilium's Bankruptcy & DACH Unicorn Moves
Transcript
- WEBVTT 00:00:05.197 --> 00:00:12.737 Welcome to StartupRad.io, your podcast and YouTube blog covering the German 00:00:12.737 --> 00:00:17.677 startup scene with news, interviews, and live events. 00:00:13.040 --> 00:00:18.960 Music. 00:00:19.837 --> 00:00:24.097 Hello and welcome everybody. This is Joe from StartupRad.io, 00:00:24.237 --> 00:00:28.977 your startup podcast and YouTube blog from Germany as well as the Czech Entrepreneurship 00:00:28.977 --> 00:00:32.517 Talk radio station number one called Startup.Radio. 00:00:32.877 --> 00:00:37.137 It is time for the news again. And of course, welcome my awesome co-founder, 00:00:37.317 --> 00:00:38.957 Chris, in New York. Hey, man. How are you doing? 00:00:39.777 --> 00:00:43.597 Hey, I'm good. Everyone's talking about the election. Can't wait for it to be over. 00:00:44.517 --> 00:00:48.217 Who cares about elections? Let's talk startups in GSA. 00:00:49.737 --> 00:00:55.017 Yeah, let's do it. But we have to tell our audience that you're deeply involved 00:00:55.017 --> 00:00:56.877 in the German coverage of the U.S. 00:00:56.977 --> 00:01:02.497 Election and there may be a book coming out from you in the future. 00:01:02.657 --> 00:01:05.917 Let's see if this works out. Yes. Yep. 00:01:06.897 --> 00:01:12.237 Welcome to our October 2024 wrap up with vital news from the startup and tech 00:01:12.237 --> 00:01:14.957 entrepreneurship scenes in Germany, Austria and Switzerland. 00:01:15.357 --> 00:01:18.557 Our startup news is recorded with Chris in New York City. 00:01:19.477 --> 00:01:25.557 Hello. I'm Frankfurt. And today's news cut is October 28th. As always, 00:01:25.757 --> 00:01:29.777 all news not included will be part of our next news wrap up. 00:01:30.197 --> 00:01:35.217 This time we even had a harder criteria to make it into our news. 00:01:35.417 --> 00:01:39.777 We had collected more than 20 pages of raw news. That's quite a lot. 00:01:39.937 --> 00:01:44.197 Usually we stick to seven to eight pages for news wrap up. 00:01:44.237 --> 00:01:49.717 So we need to cut it seriously and to give you like a really brief overview. 00:01:49.937 --> 00:01:55.057 Also, that means the startup scene is thriving again, which makes us very, very happy. 00:01:55.217 --> 00:01:58.097 And to everybody out there, happy leaf picking season. 00:01:58.277 --> 00:02:06.137 Plus, this is Halloween. This means exactly 10 years ago on October 31st, 00:02:06.577 --> 00:02:11.897 2014, I published the first episode of StartupRate.io ever. 00:02:12.317 --> 00:02:13.577 That's awesome, isn't it? 00:02:14.091 --> 00:02:17.731 Yeah, close to puberty. Close to puberty. 00:02:18.331 --> 00:02:24.631 Our highlights. October 2024 has been a great month for startups across GSA 00:02:24.631 --> 00:02:29.271 with notable funding rounds, valuations, and strategy shifts. 00:02:29.271 --> 00:02:36.671 We had this time a 10 million investment cut, but still almost half a billion 00:02:36.671 --> 00:02:38.891 euros in fundraising announcement. 00:02:40.011 --> 00:02:48.091 Where there is light, there is shadow. German eVotel, meaning air taxi company, 00:02:48.891 --> 00:02:54.011 Lilium announced plans for self-administrated bankruptcy, highlighting the tough 00:02:54.011 --> 00:02:56.891 financial environment in aerospace innovation. 00:02:57.071 --> 00:03:03.651 In contrast, fintech leader EGIM and Swiss AI developer Order Fox both achieved 00:03:03.651 --> 00:03:07.971 unicorn status, marking major successes in health and AI industry. 00:03:08.811 --> 00:03:13.551 Austria's Gropius also raised 100 million euros, pushing forward its vision 00:03:13.551 --> 00:03:17.211 of sustainable housing through modular construction. 00:03:17.631 --> 00:03:20.711 The month also saw broader tech growth initiatives. 00:03:21.031 --> 00:03:25.131 The European Union, partnering with venture capital firms, unveiled a startup 00:03:25.131 --> 00:03:29.151 support network aimed at strengthening the deep tech sector. 00:03:29.151 --> 00:03:36.591 However, challenges emerge as Solaris Bank reported 178 million loss and job 00:03:36.591 --> 00:03:42.251 cuts, underscoring profitability struggles within European fintechs. 00:03:42.351 --> 00:03:47.331 This October update reflects a thriving, resilient startup scene despite financial 00:03:47.331 --> 00:03:51.651 headwinds for some major players. Let's talk startups. 00:03:52.911 --> 00:03:57.511 First, our schedule. Enjoy your Halloween, which is also increasingly celebrated 00:03:57.511 --> 00:04:00.671 here in Germany. Hope your trick or treat works well. 00:04:00.991 --> 00:04:06.151 Keep in mind that in some of Germany's states, the 31st of October, 00:04:06.331 --> 00:04:09.391 Reformation Day, more in the northern and middle states, 00:04:09.891 --> 00:04:14.631 or November 1st, Ossain's Day, more holiday in the southern states, 00:04:14.811 --> 00:04:18.871 are public holidays where banks, shops, and offices are closed. 00:04:19.131 --> 00:04:21.831 Actually, where I'm based in Hessen, we have neither. 00:04:22.911 --> 00:04:27.731 Expect the next news to drop last Thursday a month with our regular episodes 00:04:27.731 --> 00:04:30.331 every Thursday until December 19th. 00:04:30.771 --> 00:04:35.951 Next news episode will drop on Thanksgiving in the US, which is November 28th. 00:04:36.291 --> 00:04:40.031 Let's talk a little bit about our enablers. As always, Hessen, 00:04:40.071 --> 00:04:44.291 Trade & Invest and Enterprise Europe Network and Modern IQs, 00:04:44.311 --> 00:04:47.171 where we do have a video how this actually works. 00:04:47.411 --> 00:04:52.971 Chris, we also cut the top news to only five pieces. You want to break them down for us? 00:04:53.819 --> 00:04:59.079 Yes, I'm the top five guy this week or this month. Let's start with Lilium. 00:04:59.199 --> 00:05:00.839 You were already talking about it. 00:05:01.339 --> 00:05:06.039 Lilium is facing really severe financial constraints and because they failed 00:05:06.039 --> 00:05:11.779 to secure a government-backed loan in Germany, even though they are NASDAQ listed, 00:05:12.039 --> 00:05:16.019 and now they are pursuing a self-administered bankruptcy for its subsidiaries, 00:05:16.459 --> 00:05:20.779 the electrical vertical takeoff and lending, which you already said, 00:05:20.779 --> 00:05:28.439 E-VTOL, E-VTOL, firm's stock plummeted as it aims to now restructure, 00:05:28.679 --> 00:05:33.479 and they're hoping for a fresh start while reinforcing its commitment to sustainable aviation. 00:05:34.539 --> 00:05:39.259 Everybody who doesn't have this in mind, Volocopter, competitor of theirs, 00:05:39.699 --> 00:05:42.899 also in a vertical takeoff business, they got state backing, 00:05:43.099 --> 00:05:45.959 so not really sure what happened there. Sorry for interrupting, Chris. 00:05:46.339 --> 00:05:50.579 No, no, it's fine. I mean, we've been talking about this whole industry for 00:05:50.579 --> 00:05:57.339 so often now, and it's a super stupid pun, but it's really not taking off for now. 00:05:57.619 --> 00:06:02.979 So we will still, I guess there will still be tumultuous news in the upcoming 00:06:02.979 --> 00:06:06.019 months and years ahead for this industry. 00:06:08.299 --> 00:06:13.479 Then eGym joins the Unicorn Club in Germany and OrderFox in Switzerland. 00:06:14.219 --> 00:06:18.899 The German fitness tech company, Egym, I think you might have said in the beginning 00:06:18.899 --> 00:06:25.679 it's a fintech, but it's a fitness tech company, has achieved unicorn status 00:06:25.679 --> 00:06:28.539 with a valuation of exceeding 1 billion euros. 00:06:29.659 --> 00:06:32.819 Initially they were not in need of funds, but now they attracted fresh investments 00:06:32.819 --> 00:06:39.419 to drive growth, work towards an IPO and bolstering their presence in the fitness technology market. 00:06:42.737 --> 00:06:45.897 Yeah they are on 00:06:45.897 --> 00:06:49.017 a good trajectory same as order Fox a 00:06:49.017 --> 00:06:52.017 swiss AI driven technology company they've reached 00:06:52.017 --> 00:06:55.117 unicorn starters no being known 00:06:55.117 --> 00:06:58.277 for innovative platforms including part Fox and 00:06:58.277 --> 00:07:05.117 genie g-i-e-n-e-i and order Fox is working on industrial procurement with AI 00:07:05.117 --> 00:07:09.717 best matching networks and market insights this new valuation now is backed 00:07:09.717 --> 00:07:18.137 by Troun partners and it emphasizes the company's role in really the AI field for B2B. 00:07:18.417 --> 00:07:24.717 And they also hope to grow in a huge field of diverse industries. 00:07:25.677 --> 00:07:29.937 Gropius, as you said, in Austria raises 100 million euros for sustainable housing. 00:07:30.857 --> 00:07:37.717 They want to use the money in order to expand their smart factory and production 00:07:37.717 --> 00:07:41.757 capabilities for modular timber hybrid buildings. 00:07:42.037 --> 00:07:45.757 The investment is led by Semapar and practical venture capital, 00:07:45.997 --> 00:07:51.617 and it will accelerate the housing shortage here in Europe, 00:07:51.937 --> 00:07:57.257 coming up with sustainable high-tech solutions in residential construction. 00:07:57.937 --> 00:08:03.197 Then the European Union has then launched a new partnership with venture capital 00:08:03.197 --> 00:08:07.377 firms in order to strengthen Europe's tech sector, particularly in deep tech, 00:08:07.557 --> 00:08:11.997 with over 70 investors in the trusted investors network. 00:08:12.297 --> 00:08:15.837 It's an initiative that aims to bridge the tech gap between Europe and global 00:08:15.837 --> 00:08:17.957 leaders like the US and China. 00:08:19.577 --> 00:08:26.317 Solaris Fintech faces 178 million euros in losses and therefore significant 00:08:26.317 --> 00:08:30.857 challenges, leading to job cuts as part of a broader restructuring strategy. 00:08:31.157 --> 00:08:37.057 It's a financial setback, highlighting ongoing profitability struggles within the fintech industry. 00:08:37.737 --> 00:08:42.577 And Solaris is now focused on cost reduction and improving operational efficiency. 00:08:43.257 --> 00:08:47.337 For further details on that company's path forward, 00:08:47.617 --> 00:08:52.777 you can have a look at a hundreds blood article, which as all the articles we 00:08:52.777 --> 00:08:56.477 are usually mentioning or all the stories we are usually mentioning has a more 00:08:56.477 --> 00:08:58.377 in-depth link in our show notes. 00:08:59.437 --> 00:09:01.317 That's it for the top news now to you, 00:09:02.362 --> 00:09:08.382 Housekeeping and time to brag. We have been nominated for the HubHopper 2024 Podcast Awards. 00:09:08.822 --> 00:09:14.102 Also, at StartupRate.au, we were thrilled to have been invited to this year's 00:09:14.102 --> 00:09:20.042 Digital Heilgipfel, where the German Federal Government unveils its comprehensive digital strategy. 00:09:20.382 --> 00:09:25.002 The event provided exclusive insights into Germany's vision for digital transformation 00:09:25.002 --> 00:09:30.162 with pivotal speeches from Chancellor Olaf Scholz, Vice-Chancellor Robert Habeck, 00:09:30.282 --> 00:09:31.942 and Minister Volker Wissing. 00:09:31.942 --> 00:09:36.582 Each leader shared key strategies to propel Germany forward in technology, 00:09:36.762 --> 00:09:38.402 innovation, and digital sovereignty. 00:09:38.822 --> 00:09:43.142 Our coverage offers in-depth perspectives on their speeches, 00:09:43.142 --> 00:09:47.662 detailing how these initiatives will impact the German and European tech ecosystems. 00:09:48.102 --> 00:09:52.602 For more, check the links in our show notes section. Stay ahead of the curve 00:09:52.602 --> 00:09:58.062 to explore our full blog posts on each speech. In total, we have 15 of our most 00:09:58.062 --> 00:10:02.042 recent blog posts linked there. 00:10:03.722 --> 00:10:08.202 Let me know if you'd like further information or details of the cover speeches. 00:10:08.222 --> 00:10:12.502 If you are interested in working with us, there is a startup.org link. 00:10:12.702 --> 00:10:14.802 Subscribe and follow with our link tree. 00:10:15.042 --> 00:10:18.702 And I hand over again to the ecosystem with Chris. 00:10:19.942 --> 00:10:25.962 Ecosystem news being news that our general startup. 00:10:28.347 --> 00:10:33.767 Ecosystem news, not specific to companies, where we zoom in from worldwide news 00:10:33.767 --> 00:10:37.847 to European to German news. So let's start with the worldwide news. 00:10:38.047 --> 00:10:43.127 We see that Series A startups need more time to get to Series B than they used to. 00:10:44.007 --> 00:10:48.667 Quantum's journey sheds light on the funding game. More about that on Crunchbase. 00:10:49.247 --> 00:10:53.627 In Europe, we see that Europe's IPO list in fintech is buzzing. 00:10:54.667 --> 00:10:58.547 If you're curious which fintechs are set to go public, we have a list for you 00:10:58.547 --> 00:11:00.427 from financeforward.com. 00:11:00.767 --> 00:11:03.427 And the startup job market in Europe is thriving. 00:11:03.827 --> 00:11:09.427 There are several trends in 2024 and job roles for this. 00:11:09.687 --> 00:11:14.247 We have own analysis on our own website. 00:11:14.647 --> 00:11:18.827 In Germany, we see that quantum tech puts Germany on the global map. 00:11:19.827 --> 00:11:25.767 It's pretty interesting why quantum all of a sudden matters in Germany, 00:11:25.807 --> 00:11:28.747 but also in tomorrow's world. Bitcoin has a bit more about this. 00:11:29.407 --> 00:11:33.027 And Germany's business mood dips again. We're looking at it every month. 00:11:33.227 --> 00:11:38.147 The so-called IFO Geschäftsklima Index, which is basically an ongoing survey 00:11:38.147 --> 00:11:43.447 of what managers think about the overall environment in the German economy. 00:11:43.527 --> 00:11:49.287 It shows a declining sentiment for the fourth time now and I mean even the German 00:11:49.287 --> 00:11:53.867 government again recalibrated its expectations for. 00:11:54.747 --> 00:12:00.927 This year's GDP again believing that Germany might actually German's economy 00:12:00.927 --> 00:12:02.547 might actually shrink this year again. 00:12:02.787 --> 00:12:07.847 So if you wanted to read more about this you can read it on the EFOR website itself. 00:12:08.227 --> 00:12:11.007 Moving on from the ecosystem to hubs. 00:12:11.707 --> 00:12:14.567 And again, a little peek into politics here in Germany. 00:12:15.127 --> 00:12:21.207 Vice Chancellor Robert Habeck wants to actually set up a program, an investment program. 00:12:21.387 --> 00:12:27.747 But finance minister from the Liberals, Christian Lindner, doesn't want it because 00:12:27.747 --> 00:12:33.187 he wants to have household discipline, as he calls it. Let's see where this is going. 00:12:33.367 --> 00:12:37.387 With those numbers on the horizon, I do believe they'll find an agreement. 00:12:37.687 --> 00:12:41.347 Let's talk about the hubs here. We highlight some hidden gems. 00:12:41.547 --> 00:12:46.027 As we said, this time we really, really, really cut this a lot. 00:12:46.527 --> 00:12:53.167 For example, in Darmstadt, we only have here. Rain secures a potential mega million deal. 00:12:53.307 --> 00:12:56.307 Big steps in German biotech as they push innovation boundaries. 00:12:56.607 --> 00:13:01.027 The deal with a specialized provider selling their revenues up front could be 00:13:01.027 --> 00:13:05.487 worth 128 million euros for the company. 00:13:05.707 --> 00:13:12.387 And I already hand over to Chris again. Yeah, so hubs this month are only Darmstadt, 00:13:12.647 --> 00:13:15.987 the well-known startup hub in Germany. 00:13:16.227 --> 00:13:23.027 Moving on to Austria, where we see that Linz AI, the startup files for restructuring. 00:13:23.307 --> 00:13:27.307 Question now is, can they pivot in time or do they have to face the end? 00:13:27.667 --> 00:13:30.047 More about that on Brutkasten.com. 00:13:31.147 --> 00:13:37.747 Oddvice makes its exit to Hype 1000. It's a star startup from Salzburg joining 00:13:37.747 --> 00:13:45.567 the big leagues, I'm sorry, very interesting to see their developments there. 00:13:45.807 --> 00:13:52.087 And in Switzerland, we can only say you have to wait a bit more until further 00:13:52.087 --> 00:13:56.207 down or further along in the show because fundraisings from Switzerland are 00:13:56.207 --> 00:13:57.707 part of our overall fundraising. 00:13:57.907 --> 00:14:01.107 So we'll talk about Switzerland a bit later. For now, though, 00:14:01.367 --> 00:14:07.147 we will move on to the general news section, starting off with VC news and new 00:14:07.147 --> 00:14:11.327 funds, in case you are looking for money. It's only also a selection. 00:14:11.807 --> 00:14:16.667 First off, the VC spotlight, revealing the best performing companies of 2024. 00:14:18.107 --> 00:14:22.707 Early Bird Digital East Fund has become the first European VC firm ever to lend 00:14:22.707 --> 00:14:27.127 the number one position in the HEC Dow Jones Venture Capital Performance Ranking. 00:14:28.227 --> 00:14:32.587 The fund made an early investment into Romanian software, for example. 00:14:33.647 --> 00:14:38.167 Then we see that Cavalry Ventures loses another partner. 00:14:38.387 --> 00:14:42.307 Maybe they also had issues pronouncing it like I do. 00:14:43.207 --> 00:14:48.847 It's a major shift for the DC landscape. What's next? And we have great news 00:14:48.847 --> 00:14:49.787 about General Catalyst. 00:14:50.027 --> 00:14:54.567 They raised $8 billion for global startups. It's a massive boost for innovation worldwide. 00:14:56.287 --> 00:14:59.787 And they also have a $1 billion continuation fund. 00:15:00.467 --> 00:15:05.687 And it's an end of an era for Speed Invest Pirates. The VC fund closes its doors, 00:15:05.827 --> 00:15:07.587 leaving a mark on European startups. 00:15:07.907 --> 00:15:10.587 More about that in the show notes. Back to you. 00:15:10.780 --> 00:15:15.880 Yeah, our green tech section is also pretty slight this month. 00:15:18.500 --> 00:15:21.720 Phantasma Labs tackles green solution for the planet. 00:15:22.180 --> 00:15:26.140 Sustain tech innovation on the rise. Read more at Deutsche Startups. 00:15:26.560 --> 00:15:34.300 Fintech News. Trade Republic opens an Austrian branch. Europe's banking landscape keeps evolving. 00:15:34.660 --> 00:15:40.000 And Konto targets profitability by 2025. Keep in mind, Konto bought is from 00:15:40.000 --> 00:15:46.900 France, bought here in Germany, Penta, which we covered pretty closely until their exit. 00:15:47.060 --> 00:15:49.500 So they do have a big presence in Germany. 00:15:50.020 --> 00:15:53.720 Europe's fintech revolution is gaining momentum. Big goals for this startup. 00:15:53.960 --> 00:15:58.480 General news. InstaFraid, former founders, snapped up the software of the insolvent 00:15:58.480 --> 00:16:03.640 startup at auction, offering the white label service as Cargomotion now. 00:16:04.380 --> 00:16:08.060 Tear, the e-scooter provider, disappears after dot acquisition, 00:16:08.280 --> 00:16:10.140 end of an era for the e-scooter brand. 00:16:10.720 --> 00:16:16.120 And Schumpeter's Schöpferische Zerstörung, Wiesmann, so Wiesmann is a pretty 00:16:16.120 --> 00:16:18.840 famous company in terms of heating installations. 00:16:19.980 --> 00:16:23.280 Wiesmann's climate-friendly push with one climate falters. 00:16:23.540 --> 00:16:29.440 Money from heating producer Wiesmann and advertising with football star Thomas Müller was not enough. 00:16:30.100 --> 00:16:36.740 Marco Burry's startup N4 faces insolvency. The tech pioneer hits a rough patch. What's next? 00:16:37.420 --> 00:16:42.120 And on a high note, and there we do have a lot because we would love high notes, 00:16:42.340 --> 00:16:45.180 is the fundraising and exits for Chris. 00:16:45.880 --> 00:16:48.640 Yes, and as always, this is also only a small selection. 00:16:49.360 --> 00:16:53.760 For this month's episode, we included selected fundraisings above 10 million 00:16:53.760 --> 00:16:57.860 euros, Swiss francs or US dollars. A couple of highlights here. 00:16:57.980 --> 00:17:02.380 In total, we found in October almost half a billion euros in funds raised. 00:17:02.660 --> 00:17:05.040 So congratulations to all of the lucky startups. 00:17:05.900 --> 00:17:11.560 Let's go. Eighty three point seven million euros for Terra Layer. 00:17:11.840 --> 00:17:15.060 It's a huge funding leap to scale up its sustainable projects. 00:17:15.200 --> 00:17:16.840 Go green or go home, as we say. 00:17:17.740 --> 00:17:23.780 Distribution raises 80 million dollars in a Series C. It's a transport tech startup. 00:17:24.860 --> 00:17:32.760 Novastia raises 56 million Swiss francs and names a new CEO. 00:17:32.960 --> 00:17:34.780 It's a Swiss med tech company. 00:17:37.680 --> 00:17:43.760 BWTR raises 39 million francs for eco-friendly premium water solutions. 00:17:45.420 --> 00:17:50.560 Xfarm Technologies raises 36 million euros to digitalize farming. 00:17:51.470 --> 00:17:56.610 DeepDrive accelerates with 30 million euros in a Series B. 00:17:57.470 --> 00:18:05.050 It's an electrical vehicle motor innovation company to transform the future of e-mobility. 00:18:06.290 --> 00:18:14.130 Backtrace launches a 30 million euros AI infrastructure fund with resources 00:18:14.130 --> 00:18:20.410 for developers this time around. Aurora Tech lends 25 million euros. 00:18:20.690 --> 00:18:27.590 It's a fire detecting satellite startup from Germany itself being on fire with 00:18:27.590 --> 00:18:29.070 a fresh series B funding. 00:18:31.110 --> 00:18:35.930 Lymphatica raises 17.9 million euros to transform medical tech. 00:18:36.850 --> 00:18:45.110 They bring solutions to health care. Munich-based FLAIR, P-H-L-A-I-R, 00:18:45.330 --> 00:18:47.530 raises 14.5 million euros. 00:18:48.810 --> 00:18:54.990 Their DAC tech is a company that wants to scale green hydrogen production. 00:18:56.230 --> 00:19:01.910 Atlas Metrics secures 12.2 million euros for ESG compliance. 00:19:02.190 --> 00:19:05.790 It's big funding news for a greener and more responsible future. 00:19:05.790 --> 00:19:11.210 Voliro secures 12 million euros for drone-powered industrial inspections. 00:19:12.910 --> 00:19:23.150 10 million Swiss francs go to Zomagen TX for gene therapy company. 00:19:24.190 --> 00:19:29.150 They are stepping up clinical trials there. Validation Cloud raises 10 million 00:19:29.150 --> 00:19:31.710 dollars to transform cloud security. 00:19:32.790 --> 00:19:38.270 True Global Ventures invests 10 million US dollars in validation cloud. 00:19:39.050 --> 00:19:43.190 Develco lends also 10 million, but euros, not dollars, in growth capital. 00:19:43.470 --> 00:19:47.710 They are going to take the money to boost industrial automation. 00:19:48.650 --> 00:19:52.730 And Porsche ups the stakes in drone tech with quantum systems. 00:19:53.710 --> 00:19:56.810 UAV Innovation just got a turbo boost here. 00:19:58.231 --> 00:20:04.951 And that's a wrap with all the news. We have so much more in the show notes 00:20:04.951 --> 00:20:07.611 for you to stay ahead of the curve, right? 00:20:09.111 --> 00:20:13.951 We got serious started on blogging and we will have one blog post coming up 00:20:13.951 --> 00:20:15.851 almost every day until Christmas. 00:20:16.111 --> 00:20:23.351 And there is a lot in here dissecting the most extensive German startup survey, 00:20:23.351 --> 00:20:28.651 Deutsche Startup Monitor, in more than 10 different blog posts. 00:20:28.751 --> 00:20:30.951 We do have stuff on Global AI. 00:20:31.331 --> 00:20:38.371 We do have stuff on DC D11Z Ventures, which is the investment arm of Germany's 00:20:38.371 --> 00:20:43.651 richest man, Dieter Schwartz, the founder of Lidl, and so on and so forth. 00:20:43.791 --> 00:20:47.951 Go down here in the show notes and have a look. Guys, it was a pleasure as always. 00:20:48.251 --> 00:20:53.251 Go down here in the show notes, give us feedback, and you can reach out to Chris and me on Twitter. 00:20:53.351 --> 00:21:01.551 And linkedin chris see you again on thanksgiving for your tofu turkey again yes why not, 00:21:02.571 --> 00:21:09.771 that sounded loaded loaded get it a turkey okay bye bye bye have fun, 00:21:14.331 --> 00:21:23.331 that's all folks find more news streams events and interviews at www.startuprad.com 00:21:23.351 --> 00:21:26.411 Remember, sharing is caring. 00:21:27.120 --> 00:21:39.946 Music.