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The end of Accelerators as we know it

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and the question here and here he and I don't that good
what yeah gun words who am I know
from a different time that when he was 1 of the founders of but the place maybe some people know that but now you working for what's the name again of this little company accidents but you're right in they and they do also accelerators and then we have got optimal so representing can use the young you're accelerator background a yes it's a hardware that goes on the accelerator here in Berlin and we've also built the accelerators for Deutsche environment have customers like allergies immense Bosch and we also have people who are coming from the company and making accelerators hi my name is Alexander I'm with TechStars found in Boulder Colorado 126 accelerators worldwide I'm leading 1 here in Berlin happy to so that's the stage we have 3 little introductions and we have a little talk and little Q in a later a fun the thanks for being here by the way and height and width and you talk yes yes so I'll everybody welcome to our session and think for Republican and for global innovation gathering for making this possible so today and here with with 2 2 1 2 for the representatives
of very big accelerators here in Germany and just to give you a little introduction for those who don't know what it is so the micro introduction of what this is about the context so what is an
accelerator and accelerated is the commonly defined as a fixed term cohort-based program which might or might not include funding that but definitely include some kind of educational the bit to help the start ups why do accelerators exists accelerators exist because of this some of you might be familiar with this you can see in the bottom here the value of death is how a start-up or product is generally developing and the accelerators are there to help start-ups bridge that value of death so to not go bust in the meantime but to go in in a very short amount of time through funding through
mentoring and so on and reach the other side and become successful sometimes a as to the benefit of a corporate sentences just as for an investor were governments so why the ends of the
accelerators as we know it's we've
seen some developments going on in the in the last couple of years there's a lot more corporate accelerators support accelerators are changing and the execution of high accelerators are built is under the question it's being rewritten but will will talk more about that with the the so the introduction has already been done no the reintroduction year guy and bullets seal off axis playing a plug and play he's been doing business in Berlin and Germany for 22 years and has found that a couple of a couple of
companies that successfully and is now reading this accelerator access
is now the managing director of TechStars neutral retail accelerator previously he was doing maker bought Europe so he found that that and sold that successfully and it's me
and a man the hierarchical cofounder and so and we've done services so so services for a bunch of companies such as Virgin bonds and Polish so without further ado let's start off and so a gentleman will exist for the new yeah mode double intro today and so let's get started so from your experience as a successful entrepreneur lawyers what is the 1 thing that you learned that helps you accelerate companies start with you but they tend to be honest I think it's the it's the network that you provide to companies that provide shortcuts to founders to execute better and terms in an environment where you can share and learn experiences and get better what you are doing and a little bit of money and access to future investments and a lot more but it's something goes on important things I divided from 2 companies as a single founder the because I thought it was good but probably when I did it that was a long time it would was the way to do so basically what I find an acceleration it's always better if you enable to do that as a team and if you've been able to talk to people who did it before so the the mentorship and and the possibility to to think about what you're doing what you kids doing in a short amount of time or acceleration runs for 3 months and I would say if I would have done it I would have learned the things that I learned in 3 years so it's it's convincing time and speeding up which is kind a important distance that this time base an interesting and shows
how how does the mentorship work whereas in India accelerators like what you're saying you know this is your experience but other people and what they do to actually help out the companies and I
think that the best heavily ways how to do it the way we can we do it at axis we have taken place we with quite a lot of mentors and and we ask not too much of them we ask of them to spend some time with the start ups and a very like organized way and then if they want they can continue to work with and share experiences with them are on quite a lot of them mentors also business angels think about if they want to invest into them but I think what is important is that you provide an environment and you do some matching where you match relevant mentors to start ups with relevant challenges questions and then give them a platform where they can connect and and see where they want to take a minimum that we want to use that they spot spend 45 minutes with each other and and share experiences most of the time it it grows out of that I I I think what
1 thing that we're going to see if we talk about the programs that we do is that the things run similar if they want if they have to be successful so it's it's it's with us is the same we call it mentor madness it runs for 2 to 3 weeks the 1st of the month of the program and and distort Abston ups that we run they're gonna see that up police 60 to 70 mentors at that time
sounds kind a crazy because they get a lot of impressions of from some some people
more others less time doing the program that's focusing retail but still bring mentors and from all the kind of spaces confinements finance funding technique sales marketing technology of different industries and the what is kind of a important for for me is that this comment to ship that the this that's an ongoing relationship at a thing I was I was not occur I could imagine when I joined the company how the hall far that bonding goes it's can be some venture basis so as York circuits FIL mentors also invest into companies about stage but a bonding if it's based on technology and the mentorship which continues all the program in the past this kind very strong in our I think our our network and mentors that we have worldwide to this comes also into Berlin or by minus next month next images coming from from the west coast of the states from they they they spread the message they spread the idea they bring in other people and we have lower 7 thousand mentors in the network so that that helps companies a lot to to to build their ideas into into companies interesting so it's it's
basically and then that network of people who have a lot of experience with and pass on that experienced whichever way they want to start ups for them and then in in in in uh they they do freeze with pro bono they come in because they like as I decided to do it they they like to share what they've learned by
themselves part way or so that I agree there's usually gives a lot of energy back to 2 and I think will also probably that's
also very similar 1 of the things I enjoyed a lot was when the 1st mentors came from alumni companies of the accelerator that was like a day of celebration for me just for me personally I like to do not k
grade and so picking up on on on the dementors from the now graduated to the company's can you share a success story from from 1 of the the companies that that came out of here accelerator or or that you have found yourself and what made these companies different from the others and how that's maybe the accelerator play a role so if I start we we have invested
into 18 90 companies so far from and roughly it's 30 % I think will go away 30 % I'm kind of like a limbo state dollars on these are however you want to call them where you know we are more they are sure where they get to and to develop and 30 % of doing fine they are an In a way sustainable on venture passed as much as you can be sustainable venture path and then on but 9 % something good is happening so they are doing continues finds round and 1 company's doing exceptionally well that's and 26 some they when they joined us that they already had were very like special font is I don't know if any 1 of you knows them on super that's lost so they had a very strong reality distortion field where they already were in the future that they want to create and we just need to make sure to translate sometimes between all world and there's on end we introduce investors to them and they they took what they wanted out of what we offer to them and I think that's also pattern with some with the other companies that are doing well on his is if we would need to tell them what to do I don't think it would be very successful and that's also challenge when you select companies usually those found us and it doesn't matter if they're female or male they have a very strong idea of what they want to do and they also have a very very strong execution from idea and power and at the same time and that's something where I all we always tried to get better at identifying this this attitude in combination with an openness for experience sharing things that creates good company on that and investor relationships and as we understand all serves as an investor who also provide some additional value is and through networks and platforms and we always look for founders who who are are you ready to do something about this and we have several countries but we can talk about that later if you want OK about
companies that went through TechStars that's kind of Texas is is with the acceleration of the last 10 years so basically that that was not me doing it because
I I joined the company last year we we thousand companies going through program till now but what I find great is that basically if you if you if you see start up a sort of seeing start ups going through program probably mind % fail which is which is OK you make I think that's 1 bottom of my findings is that the freedom to fail we don't have that in our German culture but that's kind of a important reminder fail companies going through the acceleration in our case and I think also with your work are we are able to turn around on with with text forest still monitors money percent all companies that went through program of still existing from 10 % annexes were have sold to companies like crap cat the army and there's 1 company that's called 0 I don't know who knows the ropes identified in know them as a kind of robotic ball which is kind of program them the spilled using schools in the US so that kids can learn how to program a robot by using their I phone discovery cool and they ran through programming in 2010 and then they build can really cool company it was er David been ready 50 people or something like that and all the at that stage it'll go through program a 2nd time because you well funded and and and and and what we provide provided for shares but that's a fixed bases but they decided we wanna go through it through another program and the Disney accelerator that we did together with in 14 and then they built something odd about robotic all which probably everybody knows it's called the PBH that that's that's small Robert that's a ball with that had on there and runs through that last almost all so they changed the company that was facing belong robot technology for schools on the educational field at tech into into into our toy company and that's a huge market and at that company has seen so for over 100 million in funding and they they sold millions of those toys so this is what we prove what what we provide we we also provide change or perverted could mean that company going to program with a specific idea we find out there's work in that market but we provide you with access to another 1 and and that and and then helping them making that hard decision because of sometimes to focus if you're if you're in the tunnel and using I have just have to solve that was all that otherwise I feel we say this to another thing you be more successful so that's probably 1 thing that that relates to
all way to to the so that the names of people were willing to change their way even if that wasn't there their original idea just the better their market that I think it's also that that really is a pattern like and 26 when they joined us they are and wants to do a credit card for teenagers something completely different they have
yeah good gunmen and and 26
user and I know that there was a well and these guys before but then work out so impressed that that 1 word went so far so far so fast so let's go to the next
point and we've seen recently that I think by now more than 60 per cent or so of accelerators are corporate and and they come with the promise of some of them often they 1 invest the main answer showing a plug-and-play others come with the promise to somehow integrates the start ups or or generated business relationship between a startups and the corporate itself what you think about this do you think this is a model that that can work and if so then now the when we started our decision
was we we want to invest into early stage companies and and we have to shareholders and existing and plug and play and we don't have any special rights for any of all shareholder with to start
ups so axis eyes not closer than any than than the plug and play to the start ups it's just that um so that people know each other so I think what we can do is we can offer the network but we can't force anyone to do anything so we can't foster started to accept any investment back such thing but we also can't foster any of the 200 axis bigger companies to do anything with any start it's just they do things together when they want to do things together and fast it's really important and and we always that just like up very and strict on having a very clear strategy what do we want to do and I well our strategy is we want to do early stage venture capital investments and so all shares later at a high price that's all business model but I I
I I know and I see that there are a lot of other accelerators who have different models and what I think is very important because you have to be very clear on what your strategy is you must make sure that what you want to do is not a poison pill for any future financing round and if you want to investing to start ups that's 1 thing if you want to partner with start up so I think you have to have a completely different set up than what we have i Yip the but 50 % or programs by the way our run together with with corporates so my program we do that together with mitral are I think it's very important
from both the decision about what kind of start ups going to program or a solely based on on on my final decision we have meeting we have teams and thing about could that be reasonable for for corporate could could that be used as a product or as a corporation but basically what we decide on the capability of a team going into program been able to leverage beverage and scale a company With the relationship through corporate but not just based on a deal with 1 corporate that that's gonna fail that's basically got sale a corporate was things can integrate a start up is gonna kill it but pocketed Our and I'm saying that is if we wanna be successful we have 2 widely open to BY the open to work with the teams and give them time to develop um corporates are are very useful because they themselves learn a lot to it I think accelerators close specially if a company is not basically to the into technology we close that gap of R&D that a lot of companies lot of B corporates like supertankers are are missing at that time so we be lot of R&D and technology in and free back into into those companies as the last
point is before we open it for a quick Q and N the the companies that that we work with so like like upon and Bosch Siemens and so on but with the programs
that we do we actually advised them and believed that uh that they should give out freebies so that's right so for example budget non-work beyond you get 20 25 K for free no equity and we advise that because of we see that if you're not a plug and play a TechStars of Y Combinator you don't really have the whole and you don't have the credibility for for start ups to 2 approaches because it has become increasingly competitive in the in the accelerator market Woody thing about this free money for ups up I would do it by about probably would have done it when I built my
1st company why wouldn't do it because of some its by I better give 6 per cent of my company to to accompany like like
TechStars or Y Combinator or or plug and play thing on and and have them have helped me building in scaling my company from an evaluation of 1 million to and evaluation of 10 million but they they still probably only if they don't get blue deluded they police to own the 6 per cent but my if if those were still 94 % which which normally that at that point doesn't happen because you give away some of the shares but that's that's a my my shares rules so so that that's the that that's that's the that's the advantage of being part of the human and being able to scale not just being of and an extended bench all of a not not local but but but but but but a corporate as they have to play their own game getting getting really great entrepreneurs they they they they they they can do that I have seen those companies and I think as a corporate you I think you rather
look for a little bit more mature companies so if I look at the companies that come out of our accelerator there like 5 people on have 1st MDP running they have a clear understanding of of all the unit economics work but if they were about to partner with the large corporations and they I don't know if they be able to grow that fast maybe make 5 out of 89 companies are able to do something like this for the rest that would be too early so I would rather look at later stage companies and I would not invite and foreign investment but rather far and phonic an opportunity to do business with each other and and then there's the question do you need to give the money just to show what are what do you tell you pitch to them hey I've got a business contract for you we don't even want to buy you because we want to work with you and we we want to be your customers and you will make money with us I think that's a very sustainable model of making money with customers and um and then while doing business you can still decide if you want to like unleash a and a department and and do like a true transaction where you by the majority of the company because that sometimes I think an issue when as a larger cooperation you invest to early into a small company and you are like a poison pill for all future financing rounds because he sees will consider you as like the x of Parliament was already a shareholder that can be quite bad for everyone
yes book I think in in in this subject it's a it's all about funding the company so they can make a prototype for the corporate and the and then see how the how that goes further but since they don't have the network I think that's the only way that actually works and you have yeah just just just to say about that what what we've been started talking about by from being in shares and executes and stuff like that it it it takes the discussion also a little bit away from 2
accelerators change and there's 1 way they they will change they will they will help the they will have 1 side or we will have 1 side where we will help more later-stage start ups that that went through program that that that that need more help related to corporate and their business growing a company from 25 to 100 people but also on and that's to you from talk to us even if you have an idea but that's not that we just have to talk with you is you all valuable going into acceleration I've been I've been doing nothing else but talk at the start of the last 6 months most of my programs to start in June so last 6 months were talking to people that had ideas they wanna chains overcome to Berlin we we have we had some applications from all over the world but that wanna come here that 1 exchange with embroiled in the midfield or learn from us so I'm yeah come must come visit us as question the amount that the rest of the questions with like granted thing we have another 3 minutes or something if there
is 1 or 2 questions the yeah you here in the front the you just turn around thank you have I wanted to ask you do you have any experience with accelerating k star that's which
product is said open-source software all open hardware and it which don't want to close it a bite want to read and keep it all when because for me this is extremely interesting as as a business model that you have an experience this isolating valves it yes only in software and and as long as you can
build a sustainable business model and keep your yourself open we're totally fine with that and we've invested in some Bitcoin startups and other companies who would who saw other ways to to build sustainable business models then closing a software I guy I would totally agree it's it's it's
basically if if your ideas sustainable inevitable yeah there a lot of models that are not based on monetarisation probably do it did the what the only 1 thing you have to be clear and I I was part of a company is make about when from open to closed as as we've been told we I think we didn't but but that costs a lot of problems within the company so you so you and the founders have to be clear how you do it in now but it's it's it's it's called at and the online is markers think you're much for the great insights of my my question is like where when we talk of oxidizers we always local start and like as a target group but I think mean sometimes that the my my challenges like our they investors also really a target group in this case I mean I I can even
go as far as the same exact set of programs for investors because I'm going from Ethiopia forces today like and then use and and say I depressing larger market to make as much personal investment into their stuffed up so the high-income countries like Germany but they're externally I was the funds like flow very lazy and there is a lot of like disconnect between them they residents and as a target group I mean you do we really like to dislike the investors as well yeah I think that there
needs to be some some more programs offered and or some some authoring some for investors to learn how to invest I think we just don't focus on that and accessed via plug and play the although we since we connect all mentors and a lot of them they are even a business angels or they turn into business angels and
they learn from each other a lot and I when I started to invest into companies 1st I tried it for myself and and then I also joined networks of investors to just learn more about how how you can really do it and networks but may we talk about that later but we actually discussed maybe we should
offer something for people who want to invest and to start ups and get a clear understanding of what kind of paths they put start ups on with so certain investments so I you the dividend oriented invest all or are you eventually into the system and could go on follows this I think it's that I think it's also we we can we can talk later but there is a strong network of investors angels all later-stage investors that that car I think most anything that's going on out there so that that's also a thing that we provide with the programs that at the end of the problems basically about connecting them to investors and and helping them to talk to them or if you have a short question that is less
efficient but I'm sure other the question you will be you may be there more available at
break so 1 more short question please yeah thank you and bear the title of this session was dead end of accelerators as we know it that we want it and then what the few drove through a few high have
if we meet again in 6 months our set up and what we do will be similar but different so will still always invest into early stage companies think that there are a lot of things that you can do they do better the set up of we do it better the platform that to build can be done better on and as said said the stages in which you invest might also be different and the connections that you build and with corporates might also be different we have we have talk about that in which you have talked about this and instance very good points the the time ran away
a little bits um basically well what would you see now is that a lot of accelerators are closing down and it's consolidating into a few hands and it's going much more in the direction of venture or methodology based network based the accelerators so that's the change of its figure 4 break up and we we close it down like that I think you gotta think Alex addressing the year before the end of the end of the accelerators and the more question of I think you perhaps the
wrong track crime problem on
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Formale Metadaten

Titel The end of Accelerators as we know it
Serientitel re:publica 2017
Autor Blumenthal Vargas, Yatan
Rheinboldt, Jörg
Hafner, Alexander
Lizenz CC-Namensnennung - Weitergabe unter gleichen Bedingungen 3.0 Deutschland:
Sie dürfen das Werk bzw. den Inhalt zu jedem legalen Zweck nutzen, verändern und in unveränderter oder veränderter Form vervielfältigen, verbreiten und öffentlich zugänglich machen, sofern Sie den Namen des Autors/Rechteinhabers in der von ihm festgelegten Weise nennen und das Werk bzw. diesen Inhalt auch in veränderter Form nur unter den Bedingungen dieser Lizenz weitergeben.
DOI 10.5446/33066
Herausgeber re:publica
Erscheinungsjahr 2017
Sprache Englisch

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Fachgebiet Informatik
Abstract The end of Accelerators as we know it. Accelerators (think Y-Combinator, Techstars, PlugnPlay etc) became a huge trend in the last few years. Many big corporates (many through their marketing departments) started their own, many vertical ones were started. After a few years of hype the trend seems to be reversing and some accelerators are closing down and others consolidating into a few hands and methodologies. This panel will look at types of accelerators, what worked and didn't and give an outlook of the most important features of accelerators of the future.

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